Crypto auto-traders: Trend-setting tech for 2024

With the ongoing surge in technology surrounding artificial intelligence, adaptive algorithms, and network information processing, it’s no surprise that cryptocurrency traders — always eager to leverage the newest fintech — are pushing the boundaries of possibilities. Auto-traders are becoming a commonplace part of the crypto space, with custom AI bots using designated strategies to buy and sell crypto without direct input from the user. These programs execute trades with more speed and precision than any human could, and they do so with fearless, unbiased, and steadfast adherence to their trading strategy. They don’t flinch or make mistakes (except those the user has unwittingly instructed them to make).

With 2024 already hurrying along, crypto trading companies are competing to create and implement the best, most leading-edge auto traders. Here are a few current leaders, listed in no particular order, that are worth watching.

An undeniable market leader, Binance is one of the largest crypto exchanges and the most popular auto-trader platform. It hosts bots developed by third parties, with tens of thousands currently hosted on the site. Bots will have different specialties, favor different currencies, and have different strategies, all of which are searchable on the site when selecting a bot to use. What’s in it for the bot developers? Profit-sharing, of course, though they let investors know ahead of time just how much they’ll be parting with for the privilege of trading by bot.

Not exactly AI, the bots available at MEXC copy the trades made by top traders in the crypto space. Still, it makes this list because it is technically an auto-trader and illustrates an option for crypto traders who don’t want to trust AI but don’t have enough time or knowledge to do the trading themselves. However, MEXC brings the most value to the traders it’s copying, with an average of 10% to 20% profit share with every trader that copies them. When it comes down to it, this is what it looks like to trust a human to do the trading for you.

A great general trading platform, Bybit offers the option to copy traders (like MEXC does) and also hosts bots with a number of trading strategies and specialties (like Binance). The clear benefits of this platform are a lower average profit-sharing rate when copying human traders (usually only around 10%, even for the site’s best traders), a crypto VIP program, and the ability to test bots before investing in them. Testing bots is a great feature for new traders or those curious about using bots but not yet willing to trust AI with their money. Practicing with virtual funds and seeing success in a simulation can be a great confidence boost or, at the very least, a valuable educational opportunity. Make your mistakes in the bot simulator before you take it into the real world.

This is one of the more interesting auto-trading platforms in the space simply because its tools are so unique. Where other sites host preprogrammed bots that let you determine target currencies and set predetermined trading strategies, Kryll’s online platform has a drag-and-drop interface that invites users to create their own strategies. The platform does have premade bots that work much like other crypto platforms, and it has Binance integration for users who are also active on that platform.

Crypto companies and fintech developers will be busy during 2024. Besides crypto platforms competing to host the most dynamic suite of bots, almost every industry is experimenting with creative new ways to implement AI, not to mention AI enthusiasts inventing new ideas simply for the sake of doing so. For technology enthusiasts and futurists, it’s an exciting time, and those who have been watching the evolution of crypto will have a lot to see this year.