Ethereum | ETH Trading Bots
Every year, more and more traders are turning to automated systems to trade cryptocurrency, and Ethereum (ETH) is one of the key assets for this type of trading.
Current data for Ethereum (ETH) as of October 2024 (according to CoinMarketCap) shows the following key metrics:
• Market capitalization: approximately $315 billion.
• Daily trading volume: approximately $16 billion.
• Circulating supply: 120.39 million ETH.
At the moment, the Ethereum network remains the leading asset for decentralized applications and trading systems, which also affects its appeal to traders and investors.
ETH algorithmic solutions allow market participants to execute trades 24/7, minimize the impact of emotional background and improve performance. In this article, we will look at what ETH bots are, how they work, where they can be used, and what the pros and cons of using them are.
Top 5 best trading bots for Ethereum
| Bot | Chart | PNL% (Month) | Average Time In a Deal | Minimum Deposit | Risk | |
|---|---|---|---|---|---|---|
ETH RSI + BB
|
|
+11%
|
1D | $1000 |
|
Try |
|
ETH SuperTrend
|
|
+14%
|
1D | $1000 |
|
Try |
|
ETH MRC
|
|
+16%
|
2D | $1000 |
|
Try |
|
ETH risk Grid
|
|
+20%
|
1D | $1000 |
|
Try |
|
ETH MACD + RSI
|
|
+21%
|
1D | $1000 |
|
Try |
ETH RSI + BB
Long 1x Futures
ETH SuperTrend
Long 1x Futures
ETH risk Grid
Long 1x Futures
ETH MACD + RSI
Long 1x Futures
ETH bot is a program created to automate trading of Ethereum cryptocurrency. The bot performs various trading operations for the user based on predefined parameters. This includes buying and selling Ethereum at the right moments, analyzing the market, and managing risk.
Ethereum bots on the Veles platform can work both based on simple strategies (for example, buying and selling at certain levels) and on complex algorithms that take into account a variety of indicators and market data. This makes them an effective tool for both novice traders and professionals.
How do Ethereum bots work?
Veles' ETH bots run on algorithms that analyze current market data and automatically make trades on exchanges. Here are the basic steps of how they work:
- Market Analysis: The bot monitors real-time market data such as Ethereum price, trading volume, and trends. This analysis allows it to determine the optimal times to enter and exit trades.
- Use of indicators: Many bots are integrated with technical indicators such as RSI and MACD. These indicators help the bot decide when to buy or sell Ethereum.
- Making trades: The bot connects to the exchange via an API (connect API in one click), which allows it to quickly and automatically execute trades, such as placing buy or sell orders.
- Strategy Automation: ETH bots allow users to implement various trading strategies such as scalping, arbitrage, DCA (price averaging) and grid (grid trading).
Optimize results: Veles bots have the ability to test strategies on historical data (backtesting), which helps optimize algorithms and improve trading results.
Register on the Veles platform
Connect the exchange manually or via fast-API
Choose a ready-made bot or customize it yourself
Now let's put it into practice
Our prices
The Veles platform offers access to the best bots for trading Ethereum and other cryptocurrencies. After registration, you get access to ready-made bot settings that can be copied, edited and tested with backtests before launching on a real exchange. New users are credited up to 5 USDT.
When a bot successfully closes a transaction, the system charges a commission of 20% of Gross-profit. At the same time, the maximum debit amount is 50 USDT per month for futures trades and 50 USDT for spot trades.
If a trade is unprofitable or canceled, no commission will be charged.
We take a commission of 20% from the profit you get when trading bot, but no more than $50 per calendar month.
Ethereum bots can be used on various cryptocurrency exchanges that provide support for API integrations. Here is a list of popular exchanges for using Ethereum bots:
- Binance is the largest cryptocurrency exchange in the world in terms of trading volume. It provides powerful APIs for creating and integrating trading bots, supports multiple cryptocurrency pairs including ETH, and offers access to spot and futures trading.
- Bybit is one of the leading derivatives platforms. It offers fast and reliable APIs for trade automation. Bybit is suitable for traders looking for high levels of liquidity and flexible risk management tools.
- BingX is an exchange focused on copy-trading and automated systems. BingX also supports API integration, which allows trading bots to be used to trade ETH and other cryptocurrencies.
- OKX is a popular exchange with a wide range of trading and staking tools. OKX actively supports trading via APIs, making it a great platform for using bots.
- Gate.io is one of the oldest cryptocurrency exchanges, known for its multiple trading pairs and support for new tokens. It offers trading bot integration via API, which is especially useful for automating ETH trading.
- HTX (formerly Huobi) is an international crypto exchange with a wide range of services for traders. HTX offers API access and supports the use of bots for automated trading of ETH and other assets.
Types of bots
DCA
No one knows where the price will go in the near future, so the DCA bot simply buys ether at regular intervals (for example, once an hour or once a week) at the price available at the auction and expects to be able to sell them more expensive in the future. And historical data shows that these expectations have so far always turned out to be justified.
Grid
Grid trading is trading in a grid or lattice. A grid bot places several buy orders at rates lower than the current market price. When an order is triggered, the bot places a sell order at a higher rate. After the sale, the buy order is placed again. Thus, the bot always operates with a grid of several buy and sell orders, gaining profit from rate fluctuations.
Pros and Cons
Pros
Automation of processes: Bots allow trading around the clock, without the need for trader participation. This is especially important in the cryptocurrency market, which operates 24/7. Automation not only frees up trader's time, but also eliminates human errors.
Reaction speed: Trading bots can react instantly to changing market conditions. Bots are capable of executing hundreds of trades per minute, making them indispensable when using high-frequency trading strategies.
Elimination of emotions: Bots strictly follow user-defined algorithms and strategies, which avoids emotional trading and allows you to stick to long-term plans.
Strategy diversity: The bots support many different trading strategies. In addition, traders can test new strategies with Veles backtests to minimize risk before real-world application.
Cons
Dependence on configuration: The success of a trading bot directly depends on the correctness of its settings. Incorrect configuration may cause the bot to buy assets at an unfavorable price or sell them at a loss.
Technical difficulties: Users may need API skills, an understanding of trading algorithms, and the ability to test and optimize strategies. However, the Veles platform simplifies these processes as much as possible.
Security risks: There is a security risk when using trading bots via API connection to the exchange. To avoid this, it is important to limit the bot's access rights to reading and writing trade orders only.
Dependence on market conditions: Bots operate based on predetermined strategies and historical data. This can be a problem if the market changes dramatically or the strategy does not take into account unexpected factors such as sudden news or changes in the economy.
Platform statistics
$ 39 469 860
User profit
28 908 370
Cycles closed
$ 17 396 015
Total deposit of bots
Conclusion
Automated trading bots for Ethereum are becoming an important tool for traders due to their ability to execute trades 24/7 without human intervention. With their help, users can reduce the influence of emotions on trading, increase the speed of reaction to market changes and use a variety of strategies. However, the effectiveness of bots depends on their proper customization and constant monitoring of market conditions. Veles offers convenient and secure solutions for automated trading, providing access to strategy testing, algorithm customization and risk control, making the platform suitable for both beginners and professionals.
