5 Best Software For Crypto Trading in 2023
If you want to trade cryptos, there are several software tools available for you to choose from. Some of them offer advanced trading strategies while others help you limit your risk by automating decision-making.
These tools can be helpful for new and experienced traders alike. They can help you track your portfolio and analyze market data to make informed trading decisions.
1. Bisq
Bisq is a crypto trading platform that allows users to trade cryptocurrencies and fiat currencies in a decentralized, peer-to-peer environment. Its network is built on top of the Tor network and uses no central servers to store information, which makes it an excellent choice for those concerned about privacy.
Bisq also does not collect user data, unlike other exchanges. That’s an important aspect of its security because it prevents the exchange from being used as a data honeypot by hackers and other criminals.
In addition to that, Bisq also has a dedicated dispute resolution system. Traders can file disputes with each other, which is a great way to avoid scams and make sure that everyone gets their money back.
Moreover, Bisq’s decentralized structure is supposed to mean that there’s no way for hackers to steal your money or slow down its operations. This is because all of your information is stored on-disk rather than on centralized Bisq servers.
Finally, Bisq has an arbitration process that ensures that all parties involved in a transaction are honest with each other. After both parties have deposited 0.03 BTC plus the trading fees in their wallets, Bisq will randomly select an arbitrator to verify the transaction before it’s executed.
If you’re looking for a secure, private exchange to trade on, Bisq is the best option out there. The decentralized nature of its network means that there’s no central point where hackers can steal your money or personal information, and it’s not subject to government regulation.
2. Gemini
Gemini is one of the most popular crypto exchanges in the US and supports a wide range of coins. It has a robust set of trading tools and boasts industry-leading security.
New investors will appreciate the simple, straightforward web exchange platform. It offers an instant view of the day’s market movements, as well as all the tools you need to manage your investments from a single screen.
While the website is easy to navigate, users have complained about the difficulty of establishing and verifying accounts. They also report issues with inactive accounts, cumbersome verification processes, and the inability to redeem earnings from the now-suspended Genesis Premier earn program.
As a licensed New York trust company, Gemini undergoes routine bank exams and cybersecurity audits to ensure regulatory compliance. It also uses hardware security keys to secure accounts.
Unlike other exchanges, Gemini keeps a portion of its customer assets in “cold storage.” Cold wallets are offline and never connect to the internet, making them difficult for hackers to access.
The exchange also uses multi-signature identification and hardware security keys to protect your assets. This is a better alternative to the “hot wallet” approach many exchanges use, which is more vulnerable to hacking because it can be accessed online.
It also supports a variety of payment methods and withdrawals. Customers can buy crypto with a bank transfer and debit card, and can withdraw their assets to an external wallet.
The exchange also offers a mobile app, which is useful for traders who are always on the go. The app also features a dynamic price alert, which can notify you when prices rise or fall to help you make timely trades.
3. TradeSanta
TradeSanta is a crypto trading software that allows users to automate their trading strategies and place trades without having to manually monitor the market. The platform has a robust dashboard, bot selection, and video tutorials for new traders.
Its intuitive design streamlines the creation and deployment of bots while providing transparent analytics and Telegram notifications for each position. The platform also has a dedicated support team and an educational resource section.
Aside from its convenient interface, TradeSanta also offers several trading strategies that can help you take advantage of price fluctuations and minimize your losses. You can choose from GRID and DCA (dollar cost averaging) strategies, as well as risk management tools to protect your investments.
Whether you want to be long or short on a coin, TradeSanta can help you by placing your orders at the percentage level that you set for your trades. Its long strategy will buy coins when they increase in value, while the short strategy will sell them when they decrease.
The trading bots on the TradeSanta platform use a variety of technical indicators to identify entry points and make informed decisions about when to exit a trade. These include RSI, MACD, and Bollinger signal. It also has the option for One-Cancels-the-Other (OCO) order to close a trade when the price moves in the opposite direction of your chosen strategy.
TradeSanta has a 4.2/5 star rating on Trustpilot from existing traders at the time of writing, and they offer 24/7 support via email and Telegram. Their support staff is responsive and courteous, and they respond quickly to your requests.
The TradeSanta platform is a legitimate cloud-based service that uses two-factor authentication and an API key to grant trade permissions. Unlike some other automated crypto trading software, it does not allow the bots to withdraw funds from your account. This makes it an excellent choice for crypto investors who want to keep their funds safe.
4. Shrimpy
Shrimpy is a portfolio management platform that streamlines crypto investing through automation and a central data hub. It also offers performance tracking and risk management strategies like portfolio rebalancing and dollar-cost-averaging.
It connects all exchanges and wallets to a single portfolio dashboard and supports many cryptocurrencies. Users can also access their trading history using the historical data API.
One of the best features of Shrimpy is smart order routing. This API helps developers specify assets they want to buy or sell and evaluates routes that will help them find the best price.
This feature is a must-have for any developer who wants to execute trades quickly and easily. It supports market orders, intelligent order routing, and limit orders.
In addition to these features, Shrimpy is compatible with more than 16 cryptocurrency exchanges and wallets. It also allows you to build a custom index fund.
You can also use the backtesting tool to test your strategy. It will give you results based on previous market data to ensure your strategy is working correctly.
Another important feature of Shrimpy is its social trading system. This feature lets you copy other traders’ strategies, allowing you to get a better understanding of the market and increase your profits.
While it may seem a bit daunting to get started with this software, Shrimpy makes things easier for you by offering a demo account. This way, you can try out all the major features of the platform before paying anything.
The free plan allows you to connect a single exchange and wallet. However, you will need to upgrade to the Trader or Pro plans if you wish to manage more than one exchange and wallet.
5. Bitsgap
Bitsgap is a reliable trading platform that helps traders manage their portfolio and trade automatically. It also offers a number of tools for managing risk and monitoring crypto prices. It also offers support for many cryptocurrency exchanges and provides a variety of technical indicators.
The platform has a demo account for new users to test their strategies and sharpen their skills without risking real money. Its interface is simple and easy to use, and it has a wide range of features for advanced traders.
It allows you to connect to up to 25 crypto exchanges and allows you to trade automatically from one single account. You can also track your portfolio and backtest trading robots to improve their performance during both bull and bear markets.
Moreover, it allows you to do arbitrage across different exchanges, which is a useful feature for those looking to take advantage of price differences. It can also help you identify a good time to buy or sell cryptos, which will make it easier to earn profits.
To get started with Bitsgap, you need to register for a free account using your email address. You can then link your preferred exchanges with an API key. This will allow the service to scan all markets and find arbitrage opportunities for you.
Another important feature is the alerts for price movements, which will tell you if there are any anomalies in prices. These signals will enable you to take advantage of those price changes before they become permanent.
There are three subscription plans for Bitsgap, and each plan includes a 7-day free trial. The cheapest plan is $29 per month, and it offers unlimited smart orders, two active GRID bots, and 10 DCA bots. The other two plans are $69 and $149 per month.
