Trading bot for Binance for free

Comments · 37440 Views

Trading bots (or robots) help to increase the efficiency of transactions, as well as facilitate the work of traders. Robots act according to certain algorithms. Below we will consider the popular bots for the Binance exchange. 

A trading bot for Binance is software that interacts directly with a financial exchange and places buy or sell orders on behalf of the user based on market data. The robot makes a decision based on an analysis of the movement of market prices and reacts in accordance with a given program. Also learn more about trading bot for kucoin.

Among the advantages of working with trading robots for Binance are the following: 

  1. This has a positive effect on the market as a whole. Experts argue that automated systems make the market more efficient. Over the past few years, the price spread on the exchange has narrowed significantly due to the massive use of robots.
  2. The program always works. This allows you not to miss the good moments for trading.
  3. Robots get rid of the routine. The program performs monotonous actions, thereby eliminating the risk of the human factor - fatigue.
  4. High accuracy of entry and exit from positions.
  5. Lack of emotion. It is emotions that often force a trader to commit rash acts.
  6. The large liquidity that is created during the operation of bots attracts new faces and companies to the industry. 

Among the disadvantages are the following: 

  1. The bot for trading on Binance needs control and configuration. 
  2. The quality of trading depends on the quality of the algorithms, that is, the professionalism of the robot development team.
  3. Imperfect security system. The trading bot for Binance can be hacked. 

Binance Auto Trading : Best Bots

Binance supports more trading bots, among the most popular are the following: 

  • 3commas. This Binance bot supports simultaneous stop losses, take profits, as well as other functions that traders need. Provides users with analytics tools and diaries. The platform allows you to create, test ETF-like portfolios, as well as view the most effective portfolios of other traders.
  • The robot for the Binance exchange  - RevenueBot  trades according to the Martingale strategy. This means that the program will try to beat losing trades by placing larger orders after them. It is recommended to use this and other martingale bots during a calm market. RevenueBot receives a certain percentage of the profits.
  • Binance  SmartBot trading bot. Supported exclusively by Binance. Due to the focus on only one exchange, SmartBot has advantages over its competitors. For example, a user-friendly interface. The robot is made as an application and can work offline, while most programs run in the cloud. Supported operating systems include Windows, Linux. SmartBot supports all trading pairs available on Binance.
  • Robot for trading on Binance  APITrade. Supports auto trading and arbitrage for four marketplaces. Six trading algorithms are available to users. As a payment, the developers charge a percentage of the transactions. There is no fixed fee for using the program.
  • MoonBot is a  robot for trading on the Binance and Bittrex exchanges. Options performed by the robot: manual scalping. tick chart, trust management, other.

Bot for binance free : installation and launch

The algorithm for installing and launching a trading robot is as follows: 

  1. Register on Binance.
  2. Top up balance.
  3. Make sure you have BNB on your balance.
  4. Get API keys. 
  5. Install Python no later than version 3.6. To do this, you need to download the program from the official website, install it on your computer. During installation, we recommend that you enable the advanced installation mode, check all the boxes.
  6. Download the archive, unpack it on your computer.
  7. Run the setup.bat file - the necessary modules will be installed.
  8. Open the file in a text editor, write down the API keys and settings.
  9. Run the file run.bat - the bot will start and start working. 

The work of the bot will be terminated after the program is closed.