When choosing an automated crypto bot, it’s important to realize that not every bot works on every exchange. So, when choosing a cryptocurrency trading bot, you should keep in mind that you might not be able to trade on your favorite exchange with every bot.
Each exchange has its own API keys available, and some smaller exchanges might not even have API keys at all, making rendering them useless to trading bots. Here’s an overview of some of the most popular exchanges that you might consider using and the bots which work on each of them.
If you have a favorite exchange, use one of the bots listed under its description in order to trade there using automated trading strategies.
Despite being a relatively new exchange, Binance has quickly become a crypto fan favorite. This is likely due to their fast order processing times, excellent security and stellar user experience. Binance has managed to become the top exchange by market cap, even though they were only founded in 2017.
Binanace is a popular exchange with a great reputation within the community. They control a huge amount of volume and are very popular with traders, whether they are using cryptocurrency trading bots or not.
Bitmex was founded in 2014, making them a rather long-lasting exchange in the cryptocurrency world, but their volume is not as big as other exchanges. This is likely because Bitmex is actually a little different than your average crypto exchange.
This particular exchange is more meant for trading cryptocurrencies against fiat currencies, such as the US dollar and Chinese Yuan. They operate a fairly popular derivatives market, and they handle a huge amount of Bitcoin trading volume.
This exchange was originally founded in 2014, and while it’s not quite as popular as it used to be, they do command a decent amount of volume. However, some people have been turned off to the exchange due to service issues, leaving them for greener pastures, like Binance.
Poloniex has also had some security scares in the past, but they actually dealt with them quite well and made efforts to return lost funds to their users, which earned them major points with the community for their transparency and commitment.
A Canadian exchange that went live in 2013, after two years of development and testing. It’s one of the oldest remaining cryptocurrency exchanges, and it’s still quite popular with many users.
While they do have more strict regulations than other markets, Kraken has also been a leader in crypto for some time. This includes being one of the first Bitcoin exchanges listed on Bloomberg’s terminal, advising the Japanese parliament on cryptocurrency regulation and opening their own dark pool for liquidity.
Originally founded in 2013, this was once one of the top cryptocurrency exchanges. However, their level of service, verification crackdowns, and high fees caused many investors to jump ship to other options.
However, Bittrex is still reasonably popular, especially for some more obscure coins where Bittrex is their prominent, or sometimes even only market. This gives them an interesting place in cryptocurrency, even with newer and shinier exchanges constantly gobbling up market share.
Bitfinex was founded in 2012, and they continue to push significant volume in the cryptocurrency market. This is likely because they are one of the few exchanges which allow for margin trading.
This has created a great niche for them which many investors obviously want to take advantage of. They also allow for trading against several different fiat currencies, where competitors like Binance still only offer crypto-based pairs.
Launched in 2017, Kucoin became an overnight success, quickly gulping up market share. This was thanks to their user-friendly interface, low transaction fees, and secure platform, which kept investors funds safe.
Kucoin also gives investors the benefit of paying dividends on holdings if you’re a fan of their native token, and offering other incentives to traders who use their exchange. They run an extremely popular exchange, and the trading volume here is excellent.
Bitstamp was founded in 2011, and at one time they were one of the most popular exchanges in the world. While they no longer command quite as much volume as they once did, they still have a fair amount of trading volume and are still popular with traders.
They experienced some major security issues and bumps early on, but that has helped them to grow into a more secure exchange with a heavy focus on security. Bitstamp is also fully regulated within their home country.
Originally founded in 2012, Coinbase grew from a quiet little startup to a monstrous force who couldn’t keep up with their account influx at the height of crypto madness. The reason being that they were one of the only on ramps at the time for United States citizens to purchase cryptocurrencies for fiat dollars.
Now, more of a household name, Coinbase manages to command a user base of 20 million, and while their trading volume has cooled off after the crypto hype died down, they continue to be one of the largest fiat to crypto hubs in the United States.
Established in 2015, Gemini is spearheaded by Cameron and Tyler Winklevoss, also known as the Winklevoss twins who helped form the idea of Facebook. While the cryptocurrency exchange was established just half a decade ago, it has gone on to become a highly reputable platform – especially for U.S. traders.
Gemini trades in a very limited number of major cryptocurrencies, but it has some of the best security mechanisms in the sector. Its compliance with available U.S. regulations and smooth user experience also add to its fame. It is also easy to use with various trading bots, which makes it a popular choice among new and experienced traders.
HitBTC exchange was founded initially in 2013, and it was one of the first options which allowed traders to use APIs, making it popular with earlier automated crypto trading strategies.
However, the exchange has faltered in recent years, and with a plethora of customer service complaints, many traders have abandoned it. However, they do still offer some useful tools and a large amount of trading volume that many traders will want to take advantage of.
This Singapore-based exchange was first founded in 2013 now processes a billion dollars in trades per day. Huobi offers 24/7 customer support, unmatched platform security, access to a wide range of different assets and a huge amount of liquidity.
They’re a popular choice for trading bot software, and their liquidity makes it easy to execute trades quickly and for a fair price.
Cobinhood was launched in 2017, and while their trading volume isn’t quite as stellar as some other options, they do have one enormous advantage. They offer traders zero fee trades! This is an enormous advantage for trading bot users because automated strategies focus on making tons of small trades, and that means Cobinhood can save these users a lot of lost funds.
It’s quickly growing in popularity, and their easy to use interface, extras, and security will no doubt make them a very popular exchange as time goes on. They also allow for margin trading, which many exchanges still don’t have.
A Russian exchange founded in 2014, Yobit offers an interesting opportunity to invest in a huge number of under the radar assets. There’s a ton of trading volume here, but also a lot of pump and dump activity to get caught up in.
However, if you’re looking to make a lot of tiny gains on many trades, then this is a solid choice. They don’t require any personal information, and it’s easy to set up shop here to perform automated trading strategies and take advantage of their large volume.
Only having been founded in 2017, Okex has managed to capture a large amount of market share. They offer a lot more features than most other cryptocurrency exchanges, including margin trading and futures trading which makes them stand out in the way of features.
However, they also offer exceptional customer service, a large amount of trading volume, and index tracking, which allows to trade a portfolio of tokens or coins in one transaction, something very unique to crypto niche.
The Japanese hub of cryptocurrency activity is one that is noteworthy for its many different altcoins. Cryptocurrency enthusiasts appreciate Liquid because it has a stellar reputation, it goes by the book, and it provides them with a compelling, safe, and easy to use trading solution.
It respects the authorities that are present within Japan and makes certain to abide all of the regular laws put in place. That means that you do not have to worry about potential suspicious activity by the founders or operators of the firm.
You can rest easy knowing that Liquid exists to provide great digital asset trading experience with crypto to crypto and even fiat oriented options.
Cex.io was founded in 2013, this exchange has been a long time favorite for many cryptocurrency enthusiasts. Unfortunately, their trading volume has taken a dive, and they don’t command as much of the market as some of the other exchanges on the list.
They do however offer some great features, including margin trading, great liquidity, low fees, DDoS protection, and a great security track record. This alone could make them a great choice for an automated trading strategy depending on your desired assets.
Exmo exchange first launched in 2013. They have excellent volume and great features for traders. This includes the fact that they actually encourage bot trading, and they’ve got super fast order processing.
Their commissions are quite reasonable and they have a very secure operation. All of which is important for automated trading strategies. Their platform is also very easy to use, and the layout is excellent.
Of course, you shouldn’t just run out and pick up the first crypto trading bot that works with your exchange of choice either! It’s important to remember that an automated bot will have access to your exchange account to trade on your behalf.
There have been several instances where APIs were stolen and used to orchestrate pump and dump schemes. In order to get a better understanding of the trustworthiness of specific bots, it’s a good idea to read our in-depth reviews to help you choose your trading software.