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– TIMESTAMPS –
0:00 Intro
2:06 What Are Trading Bots?
6:22 The Truth About Bots
10:51 Why Use A Crypto Bot?
13:07 Shrimpy
15:37 Kucoin
17:34 CryptoHopper
19:46 3Commas
23:11 Final Thoughts
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► Shrimpy – Top Portfolio Management Tool:
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What Are Trading Bots?
They are merely automated trading algorithms and software that help buy and sell various cryptocurrencies in an automated way.
However, there are three main types of crypto bots out there that you should know about:
► Signal generator bots: These make trading decisions based on tips by so-called ‘experts’ or a computer program that is fed data and churns out buy or sell signals.
► Arbitrage bots: These essentially buy a specific crypto on an exchange with a low price and sell it on another exchange which has a higher quoted price to generate profit.
► Finally, you have bots that trade on your behalf with a set of instructions you have given it.
Many of these types of bots offer features like backtesting to help optimize your trading strategy.
The Truth About Bots
Many people are drawn to crypto bots because they love the idea of making money in their sleep. I don’t blame you.
However, the truth is that they are anything but money printers!
Many signal-driven bots are just a way to fleece you for money. Think about it; if the signals were so good, wouldn’t the signal creator keep them for themselves?
Then you have scam bots which promise you guaranteed returns. That should set off alarm bells. Then you have others that ask you to send money to a broker or strange place.
The point is there are many wolves selling crypto bots. So, be careful.
Even if you do use a legit bot and you devise a winning strategy, you’ll still have to invest time in refining it to account for different market conditions. You won’t sit there on a beach for decades laughing all the way to the bank.
Why Use A Crypto Bot?
Watch my vid. Here I explain all the reasons why I personally use a crypto trading bot.
Shrimpy
This social portfolio management tool was established in 2018. Yes, it doesn’t offer any signals. But it does offer spot trading, portfolio tracking, strategy automation, backtesting and smart terminal trading.
The two features that really stand out to me are longer-term portfolio management tools which automates things like portfolio rebalancing, dollar-cost averaging and stop losses. Then you have the social trading feature which allows you to copy the trades of the top traders on the platform.
Kucoin
Yes, most of you will know Kucoin as a top exchange for exotic altcoins. However, what many people don’t know is that they also offer a plethora of free trading tools too.
That includes things like preset trading strategies, dollar cost averaging, classic grid (to help you sell high and buy low), dynamic portfolio rebalancing (so you are never too exposed to a single position) and much more.
Over 2.5 million bots have been created on Kucoin worldwide – so yep, there is a literal buffet of options here. Even better, those tools are absolutely FREE!
CryptoHopper
CryptoHopper provides support for a whopping 100+ cryptos on literally every exchange worth having an account at.
It provides expert trading tools without the need for coding skills. That even includes advanced trading stuff like market-making and exchange arbitrage. Yes, they also offer features like backtesting and trialing features to help you buy and sell more efficiently than before + paper trading to test those new strategies you’ve developed with no risk at all.
3Commas
This is one of the most popular trading bots out there. There are a ton of really useful features, paired support for 23 different crypto exchanges. Just watch my vid to find out why I personally use 3Commas as my trading bot of choice.
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#bots #crypto #trading #scams #3commas #cryptohopper #shrimpy
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Guys beware of 3commas. They were legit for a long time but I yesterday just got hacked on Kucoin and it looks like it is somehow connected to 3commas API keys. 3commas are denying anything saying that all situations were connected to phishing websites but this is pure bullsh** – I always use the same legitimate website address as i have it saved in my bookmarks. It really starts to look bad for 3commas and i have no choice but to stop using their platform(that was buggy before and i wrote them many times about that but they were always deflecting the blame). It's time to really start asking serious questions because people's funds are vanishing and no one is taking it seriously!
Wow, that 3-comma's shoutout to Sam Bankman-Fried didn't age too well!
Please can anyone make review of MTFE platform? I'll do appreciate.
does FTX recent news change your thoughts on 3Commas?
Fascinating video. I'm intrigued now.
Not sure if there's an answer to my question, but I was wondering if there was a step-by-step way that I can use a bot I created on Trading View to make automated trades on one or more of the crypto exchanges. Any suggestion you can make would be much appreciated.
According to the strategy tester on Trading View, my profit factor for the bot on the one-minute time frame, using Heiken Ashi candles, is 4.5 and a win rate of 50.55%.
Forward testing on Trading View's paper trading facility seems to bear out its profitability.
I have tried so far bitsgap bot. It only lost the money on the real and paper accounts. On-paper trading also has no profit so far. Looks like hodling much better strategy than bitsgap bots.
Love and appreciate every video on this channel. Thank you
Gracias COMPADRE
Crypto bots are a scam it looks good at 1st it'll pump when you 1st purchase the crypto with the bought but once you walk away from it it drops drops the price and doesn't sell and you're sitting there still with a big fat red bag redbag don't be scammed
Is Jonos Armstrong ProMetheus Bot trading a scam
Nice Robinhood blow!
I know somebody who is recruiting people to sign up in binance and collecting rent for bot trading
Any legit bots to invest in ???
NO BODY BECOMES A MILLIONAIRE OR A BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRING MILLIONS OF DOLLARS, AND CONSISTENCY BRING BILLIONS, THE MARKET IS ALL ABOUT BTC AT THE MOMENT NOW.
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Awsome video!
Guy, can you give opinion about Prometheus AI bot?
@CoinBureau Do you KNow about EazyBot and do you think they are Legit as I've heard that they could be a scam?
VERY WELL TOPIC THANKS FOR YOUR HONESTY
Sad bc with 3Commas i just keep having Keu problem ,i don't know if i'm the only one out there but i am i'M just a f… unluky one bc its thue that it work good and easy to make it run but for me avery single time i set a but it works for 2-3 minutes and receave a e-mail saying that my apey key is outdated even if i just cancel the old one a bring a new one ….been thee days and close to 24hrs trying to fix the problem with the support but .no. nothing works , just the time i wright this i recieve 10 email about keys ???
Thanks a million for going through this topic, I’ve never really thought of using a bot and just use my own knowledge sometimes good and sometimes not so but that’s trading
I think I will click on your link and download 3 commas to have a look and a small amount of cash to evaluate it.
Does anyone know about the IEARN BOT?
Does he have a video regarding Pionex?
Thanks sir
Thank
you for your gratest knowledge
…. 
hello there , first of all I would like to thank you very much for your opinion and knowledge share with others, and one more thing …. it was best 25 min & 14 sec which I have invested from long time. Kindest Regards
Marcin from Colombiana Limited
Ps. I would like to reward you and your team with a little gift. it is a part of my work which is a freshly roasted coffee, please contact me in PM if you think that's ok to exchange contact details that I could post it to you.
Can i use a professional trader or can a trader set my, say Kucoin up for me. I know nothing about it but it looks very interesting.
That was very informative as much as i could understand. I will give the Kucoin a try. I have an account which you will be horrified but i look at it as hopefully it's a lesson. They have complete control and when i asked to withdraw a100 euro they wanted to know why as if they didn't know and they now say they are going to liquidate my account. But everyday it made around 2% for 5 days a week. This doubled my funds in around 9 weeks, could i expect something similar with the Kucoin or is that a pipe dream. Thank you for looking at this.
at 7:29 the answer is no. once people make enough money and realize that theres more to life then they decide to give back to the community. threre are people in this world that just want to donate and give back like Elon
in the intro he says are they legit or a scam , and right after he says he has a list of bots that are worth using,
they work ive seen them work. bots are logical and use data and humans are emotional.
but we are human and its in our nature to be skeptical. only way to find out is to try it yourself with small sum of money
have a nice day yall
Excellent as always…thank you.
I was a victim to scam, but my funds got recovered.My channel name Carries the handle of the place i got it all solved if you smart enough you can observe the name up and get help. WIshing you all the best
Is kosher kit bot a scam?
Gotta love all the bots in the comments… do they actually bring business to people? Like who the hell would fall for comments that don't even make sense
Can Guy or anyone suggest a bot that is really easy to use. I mean retard easy. I tried 3commas and couldn't make head nor tail of anything on it and I spent hours trying to just put money in the account