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The Best Tools for Algo Trading in Crypto

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The Best Tools for Algo Trading in Crypto
Source: Pixabay

The cryptocurrency market is attracting more and more traders because of the high profits that they yield. There is no high barrier to entry, and you can make x10 your investment in just two weeks, but you could also lose everything. This market, referred to as the “Wild West” by many experts, is the fertile soil for different algorithmic trading tools.

Out of all the robots and programs out on the market that are used for alogotrading, they are divided into two broad categories: bots, who ask traders for permission before taking an action, and then there are the bots that don’t need permission. Of course, every trader wants to use smart algorithms, which knows when to buy or sell and does so at just the moment.

So, what are the best tools for algorithmic trading?

1. You can use the bot that you wrote yourself for the a specific crypto exchange. It can also be used for several crypto exchanges, but in this case, it must include the API of all of the exchanges within its code. This way is suitable only for IT developers, who know at least one programming language and are familiar with trading. Although, there are languages out there is not terribly difficult to learn, such as Python.

Advantages: Customized for your needs, which you can always upgrade later.

Disadvantages: Hard to implement if you are not a professional coder.

2. Create your own bot with TSLab. This program offers wide functionality for algo traders, and it makes it possible to create your own robot, drawing it as a flowchart.  TSLab will perform all of the program commands and scripts itself, you only need to specify the direction.

Advantages: It’s free.

Disadvantages: You should learn how to program and create the bot. There are also hardware requirements for your computer. For Windows, you must have a CPU no older than a Pentium IV 2GHz.

3. Use existing bots. For instance, NeuroBot is constantly analyzing prices on crypto exchanges, applying patterns from traditional technical analyses, and taking into account signal indicators. However, this bot might not be suitable for every trading strategy.  And there are already some disappointed users, complaining that NeuroBot is not good at making predictions.

Advantages: A well-made bot that’s ready to trade for you.

Disadvantages: You must pay a monthly fee for use, and it may not meet your criteria or your trading view.

4. Trading platforms like MetaTrader4. This is a trading platform mostly for Forex, analyzing financial markets and using the strategies of financial advisers. You can also install MetaTrader4 on your iPad or smartphone and trade anywhere.

Advantages: Free to use.

Disadvantages: Works for only one crypto exchange –, which is not very popular at the moment.

5. Solutions like Arbidex – Arbidex is a platform for trading and connecting major exchanges into one single-window interface. Right now, Arbidex is integrated with a number of crypto exchanges such as Bitfinex, Okex, Bittrex, Poloniex, Huobi, and Quoinex.

Advantages: Discounts on the exchange commission, no need to pass KYC for every single exchange, as this can be done only once on Arbidex.

Disadvantages: Not so many exchanges are integrated yet. There was a bug with withdrawing funds that was only recently solved by the project team. Uses only one trading strategy – cryptocurrency arbitrage.

To sum up, there is no ideal bot or program that can make you the highest profits, because the market is unpredictable. As Matthew McConaughey said in The Wolf of Wall Street, “Nobody knows where the market will go.” And algorithmic trading is difficult to use and, to be honest, an expensive tool. However, this is one of the most promising areas of the crypto market to date, which over time will only develop and get better. There is a chance to catch fat profits with a certain bot, and it isn’t a bad idea to give it a try.

Author – Maria Lobanova

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1 Comment

1 Comment

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    March 22, 2019 at 12:53 PM

    Dear Author,
    Thank you very much for the deep and detailed description of existing tools.
    What do you think about new type of bots based on Machine Learning models and algorithms?
    For example algorithmic trading bots offered by
    Do you think that they are easier to use and more secure?
    Can they be more profitable as well?
    Thank you again, Igor

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Guest Post

Vid App Lets Users and Influencers Monetize Personal Videos

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Vid App Lets Users and Influencers Monetize Personal Videos
Source: Twitter

We’re visual creatures. That’s why we’re captivated by films and shows that have great storytelling. According to reports from Insivia and Cisco, mobile video consumption doubles every year, and by 2021, videos will comprise 82% of internet traffic.

One venture believes it’s possible to make money from our personal video collection through tokenized rewards.

According to Jag Singh, CEO, and co-founder of the Los Angeles, California, based startup:

Vid is a social app that empowers users to create beautiful videos, control their data, and monetize their memories. We use artificial intelligence [AI] to generate memories from a user’s video feed. These are then organized into an interactive calendar. The resulting video journal can be edited with a patented editing tool before users publish their captured memory.”

Privacy and Protecting Data

Publishing personal journals on public platforms is tricky. But Singh says Vid places a premium on privacy.

“We use zero-knowledge encryption as well as blockchain tech to give users complete control of their data. It also gives them opportunities to monetize their videos with brands—without interference from us or anyone else.”

Bad data practices [e.g. Experian hack] and harvesting user data without consent [e.g. Facebook] have led to regulatory actions such as GDPR [“General Data Protection Regulation”]. Vid’s solution is to encrypt data and let people select what data to make available. Moreover, the app lets users connect directly with brands that might be interested in their video journals or creative talent.

Singh added:

“Users who opt-in to generate video memories in conjunction with an advertiser will receive 100% of the advertising revenue,” whose app can be found at. “No cut is taken by Vid or any third-party ad marketplace.”

So what are the implications of a 24/7 connected world?

People now view one billion hours of YouTube videos each day. There are several large platforms that are capitalizing on viewing trends. With this massive shift, influencers and brands have much to gain: Audiences retain 95% of a message when delivered in video format compared to just 10% when reading in the text, according to Insivia.

Opportunity for Users and Influencers

Vid’s CEO launched the venture in December 2016. He says the app is a unique opportunity to offer a superior, privacy-protected social experience to a massive crowd.

According to Singh:

“We launched a test version in early 2018 and added more than 30,000 users within a month. We were trending up the social media application rankings before taking the app offline again for further development. No marketing dollars were spent on the test launch. It was purely organic.”

The firm has boarded more than 50 top Influencers across social channels to support the app’s public release. The Influencers have more than 250 million followers, and they know they can increase their revenue from brands by using Vid. The app has a swipe-up ad model where ad revenue flows directly to the Influencers.

The app’s target audience is younger generations [Millennials and Generation Z] since they prefer short-form video content.

The Process

“We poured more than $1.5 million of our own funds into product development and have been working on the platform since the end of 2016, we have filed seven patents for the technology underpinning our platform.”

The team consists of Jag and Josh Singh, and now includes computer scientists, engineers, financial experts, marketers, and business development professionals. Maciej Dziedziela, another co-founder, is Chief Technology Officer. He has a background working in major enterprise firms.

Before Vid, Jag and Josh launched and exited a company that grew to nearly $30 million in annual revenue over four years.

Singh also detailed about:

“Contrary to the pump-and-dump ICO and IEO models of most cryptocurrency and blockchain platforms, we have opted for a five-year rollout of the Vid native token. The details of our tokenomics can be found in our whitepaper, which is accessible from our main website.”

The Vid token pre-sale is scheduled for launch on June 14, 2019, and will conclude on August 9. There is no soft cap, and the presale hard cap is $60 million. There will be no airdrops. Smart contracts are audited by Certik.

For further details contact here.

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