Best Crypto Trading Bots for KuCoin Exchange

KuCoin is one of the biggest crypto exchanges on the market. According to their website, Out of every 4 person who owns crypto at least one of them is a KuCoin user. One thing that makes KuCoin an interesting and advantageous exchange is that it allows the usage of trading bots. The crypto market is a complex and extremely dynamic place that requires constant attention. To make this process easy and minimize the potential losses both experienced and novice traders turn to the trading bots that do the hard work for us. But which trading bots are best for KuCoin users?

Things to know about using trading bots on KuCoin

• Trading bots eliminate human errors 
• One of the best trading bots for KuCoin is Bitsgap
• Trading bots help traders track and manage big portfolios across different exchanges
• Crypto trading bots are not perfect and there is still a possibility of making losses

What is KuCoin

KuCoin is one of the biggest crypto exchanges available on the market. This exchange offers traders the ability to trade with cryptocurrencies and make fast purchases and sales. For those who are looking for more advanced trading features, KuCoin also has margin, futures, and peer-to-peer trading available on their exchange. 

Launched in 2017, more than 10 million users use their services. KuCoin has 600+ cryptocurrencies in its portfolio and this number is constantly growing. One of the biggest advantages that KuCoin has is that it allows a huge selection of third-party trading bots to be used by traders. Combined with good KuCoin trading features these bots give KuCoin users the ability to trade effectively and minimize the risks associated with the crypto market. There are many different crypto bots compatible with KuCoin but which of them are the best?

Best trading bots for KuCoin

When it comes to the best crypto trading bots for KuCoin there are many different bots each designed for different traders. When choosing the trading bot, it is important to consider your experience, which trading style you want to use, how much you plan on trading, and other relevant factors. There are also options between free and paid crypto trading bots. Here we will be listing some of the best crypto trading bots we can use when trading on KuCoin

Bitsgap – Best overall trading bot for KuCoin

Bitsgap is a unique automated trading bot, that will fit both experienced and novice traders. When using Bitsgap traders get access to the unique terminal where they can set up their bot and trading orders manually. This is a cloud-based trading bot which means that you don’t need to download any software and can operate from your browser.

Bitsgap is not just one trading bot, this is a selection of different bots each designed for specific market conditions, combined into one entity. The trading bots that Bitsgap offers are the following.

• Grid trading bot
• DCA bot
• Scalper bot
• Futures bot

Bitsgap Grid trading bot is the most common and easiest to use Bitsgap bot. When using this bot we need to simply tell the bot two significant support and resistance levels of the token. To simplify this, when using the Bitgap Grid bot we just tell the bot when to buy and when to sell the crypto.

Bitsgap also has some additional features that can make our trading experience more effective and profitable. Bitsgap Take profit is one of those features that closes all positions if there is a change in crypto price which is equal to or goes above a predetermined percentage.

Bitsgap Stop Loss orders are another great feature that comes with Bitsgap. This trading mechanism closes all active orders and stops trading activities altogether if we start making losses. This is a great tool that gives traders the ability to sleep with ease knowing that if something goes wrong there is always a damage control system in place.

Another great feature that Bitsgap provides to traders is Demo trading mode. Here traders can enter into a real trading simulator and trade with virtual $30,000. This feature is mainly used for setting up a bot in an optimal way. Since you are not trading with real money, you are able to experiment as you like and find which trading style fits you best.

Bitsgap offers 3 subscription tiers ranging from $29 to $149. But Bitsgap also constantly offers different discounts, so you might have to pay less than that. If you are still not sold on this bot, Bitsgap offers a 7-day free trial which you can use to test out the bot and make a final decision.

KuCoin Trading Bot – Native trading bot of KuCoin

Another option KuCoin users have for trading bots is to use a native KuCoin trading bot. This trading bot was launched early last year with very basic features. Upon release, KuCoin announced that they would gradually add more features to the bot and they have kept that promise to some extent by adding additional yet more basic features.

• Classic Gird
• Futures Grid
• DCA
• Margin Grid

These are some of the features that traders should expect if they start using this trading bot.

When it comes to usability, this bot is only available for mobile trading and the desktop version of the exchange does not have support for this bot. It is easy to spot that the bot just recently left the development stages, as it still has only basic features available for its users.

We can see that this bot is being developed and fine-tuned with simplicity and beginner friendliness in mind. This trading bot does not offer anything interesting or huge and simply automates the basic trading experience any novice trader follows when they get started. But we also have to mention that it is still in the development stages and there is always a possibility that more advanced features can be added.

Currently, the KuCoin trading bot is free to use, but this might change once the final version of the bot is released. Also if anyone is wondering KuCoin trading bot is only available to use on the KuCoin exchange and can not be integrated into any other exchange.

Coinrule – Best trading bot for beginners

When it comes to trading bots for beginners, the Coinrule trading bot is the first bot that comes into the heads of many traders. Setting up a Coinrule trading bot is simple you just tell the bot if-this-then-that and the bot follows these commands perfectly.

Coinrule also provides built-in trading strategies. This feature is good not only for novice traders but also experienced traders can benefit from it. Coinrule provides 150+ trading templates that need simple tweakings in order to be effective. Also, Coinrule sends our free daily emails, where they inform you about interesting signals that might be useful for setting up your trading bot perfectly.

Another great feature that Coinrule provides is backtesting opportunities. This might be hard for newcomers to understand and use its full potential, but backtesting is one of the fundamental pieces when building trading strategies. Backtesting is when you run simulations in past market conditions, and see how your strategy works in different situations. One thing we need to understand is that if something worked in the past it does not guarantee that it will work now and it should only be used as a foundation.

Coinrule offers both free and paid subscription plans. The free version of the bot only offers limited features and is best used for getting to know how the bot works. Paid plans range from $29.99  to $449.99 with each tier becoming more advanced.

Should we use crypto trading bots?

Yes, we should absolutely use trading bots if there is a possibility. Crypto trading bots can be beneficial for beginner traders as well as experienced ones. For newcomers, trading bots can help to eliminate some of the human errors that are destined to happen. It also is a great tool to learn how trading works as you can keep an eye on how bots operate and learn from that. For experienced traders, bots can be used to automate some of the more complex trading strategies and save a lot of time by doing so. It is also a great tool for those who have big portfolios across different exchanges, and one trading bot is able to keep track of all of them.

FAQs

Does KuCoin allow bot trading?

Yes, KuCoin users can connect third-party trading bots such as Bitsgap to their exchange accounts and automate their trading experience on the exchange. KuCoin also has its own native trading bot, but it is still in the early stages of development and only has a few basic features.

What is the best trading bot for KuCoin?

Bitsgap is the best crypto trading bot for KuCoin users. This trading bot is good for both experienced and novice traders. It offers a huge selection of tools that can be used for different trading strategies. You can use their 7-Day free trial to test out the bot before making a decision if it’s worth using or not.

Do I have to pay when connecting trading bots to KuCoin?

No, connecting third-party crypto trading bots to your KuCoin account is completely free. The only expenses that are associated with this process are the prices of the bots themselves and the standard trading fees that KuCoin charges its customers.