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Best Crypto AI Trading Apps in 2024

11 mins
Fact Checked
by Maria Petrova
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Trading can be difficult for both the inexperienced and experts alike. As a result, traders often need a helping hand to give them the extra edge they need to remain profitable. Artificial intelligence (AI) is one solution many use to strengthen their weak points. So, which tools can help optimize your performance and profits? This guide lists the best crypto AI trading apps in 2024.

Methodology

What are crypto AI trading apps?

Crypto AI trading apps use AI technology to conduct trades on behalf of users. These apps are programmed to analyze market data, learn from trends and unsuccessful trading patterns, and execute trades based on predetermined criteria.

AI-driven trading, in contrast to conventional algorithms, can recognize patterns, anticipate future events, and learn from past market data. This capacity for adaptive learning enables traders to navigate volatile markets more skillfully.

In the hands of the right users, AI trading applications optimize strategies, enhance decision-making, and increase profitability by identifying opportunities that may not be apparent to the naked eye.

These apps can provide a more efficient and data-driven approach to trading in various financial markets by processing large amounts of data and adapting to real-time market fluctuations.

What are the best crypto AI trading apps?

Price
Commission up to 20% on trades
Availability
150+ countries
Backtesting
No
Supported assets
Crypto, forex, and stocks
Price
$14-30 per month
Availability
100+ countries
Backtesting
Yes
Supported assets
Crypto, stock, forex, and CFDs
Price
$7.50-82.50 per month
Availability
100+ countries
Backtesting
Yes
Supported assets
Crypto
Price
$24-107.50 per month
Availability
50+ countries
Backtesting
Yes
Supported assets
Crypto
Price
$20-25 per month
Availability
Global
Backtesting
Yes
Supported assets
Crypto
Price
Free
Availability
150+ countries
Backtesting
Yes
Supported assets
Crypto

Trading apps compared

AppsPriceAvailabilityBacktesting Assets
AlgosOneCommission up to 20% on trades150+ countriesNoCrypto, forex, and stocks
Stoic$20-25 per monthGlobalYesCrypto
QuadencyFree at the moment150+ countriesYesCrypto
CryptoHero$14-30 per month100+ countriesYesCrypto, stock, forex, and CFDs
HaasOnline$7.50-82.50 per month100+ countriesYesCrypto
CryptoHopper$24-107.50 per month50+ countriesYesCrypto

Why use AI trading apps?

In 2017, AITE Group released a report that provided insights into the adoption and impact of algorithmic trading in the 21st century. Algorithmic trading uses computer programs to trade at high speeds and volumes, often called high-frequency trading (HFT). The chart below illustrates how deeply algorithmic trading has penetrated various financial markets since 2004.

crypto ai trading apps
Market share of algorithmic trading: quantifiedstrategies.com

Algorithmic trading started to become a significant part of financial markets in the early 2000s, and by the early 2010s, it had become the majority of trading volume in certain markets. It has significantly transformed financial markets by enhancing efficiency and lowering transaction costs.

In 2024, AI is currently in the same stage as algorithmic trading was in the early 2000s. In the same way that HFT gave institutional trading firms large advantages, AI is poised to create the same incongruities between the best and more average traders.

Due to an oversaturated market and heavy competition, users are increasingly looking to AI trading apps, anticipating an eventuality where AI will be necessary for most traders to remain profitable. This is perhaps the most important reason for becoming familiar with these platforms.

AI is not going to replace humans, humans with AI will replace humans that don’t use AI.

Emad Mostaque, the former CEO of Stability AI: YouTube

How do AI trading apps work?

Crypto AI trading apps operate in a couple of different ways. Some operate by connecting directly to your cryptocurrency exchange account rather than depositing money into the platform itself. Here’s a general outline of how the process works:

  1. Account setup: You start by creating an account on the trading platform. Link it to your existing cryptocurrency exchange account through API keys. These keys allow the platform to execute trades on your behalf within your exchange account. However, they don’t typically grant the platform access to withdraw your funds.
  2. Algorithm initiation: Once connected, the platform’s AI and algorithms analyze the market and your portfolio. Based on its analysis and the trading strategies it’s been programmed with, it decides when to buy, sell, or hold various cryptocurrencies.
  3. Automated trading: The platform automatically executes trades on your behalf according to the AI’s decisions. It continuously monitors the market and adjusts its trading strategies based on real-time data, aiming to optimize your portfolio’s performance.
  4. Portfolio management: You can monitor your portfolio’s performance directly through the platform’s interface or app. Track the trades the AI has made and see how your investments are performing over time.

The key benefit of using such a platform is that it takes on the heavy lifting of making trading decisions. This allows you to rely on AI to navigate highly volatile markets. This can potentially offer a more disciplined approach to trading as it removes emotional decision-making and requires minimal time for users.

How do you choose the best crypto AI trading bot app?

When thinking about choosing a crypto trading bot, there are several key factors to keep in mind:

1. Ease of use

Opt for a bot platform that uses a straightforward and intuitive interface. This is important for those new to trading who might not yet grasp complex trading mechanisms.

2. Learning resources

Investigate whether the bot provider offers comprehensive guides, tutorials, or any form of educational content. These can assist you in understanding bot operations and crafting effective trading strategies.

3. Demo/paper trading and backtesting

Look for platforms that feature a paper trading or demo account. This will enable you to hone your trading skills and test strategies without the risk of losing actual money. This feature is invaluable for newcomers to the trading scene.

If you are a more experienced trader, you may want to use backtesting to test your trading strategies more thoroughly. Backtesting is the process of testing an automated trading strategy against historical data to determine how it would have performed in various market circumstances.

4. Customer support

The availability and quality of customer support can set a platform apart. Apps with prompt and supportive customer assistance can be incredibly beneficial, particularly for those navigating the trading field for the first time.

5. Risk management tools

Check for risk management features within the app, such as stop-loss orders and mechanisms for controlling the size of your positions.

Before deploying a trading bot, it’s important to conduct your own research, find user testimonials, and familiarize yourself with the platform’s terms and conditions. It’s also important to remember that trading in the cryptocurrency market comes with its own set of risks, and profits are not guaranteed, even when utilizing trading bots and crypto AI trading apps.

AI will transform day trading

Contrary to popular belief, AI is not a “great equalizer.” Those who have experience and are prepared for future technological shifts will be more successful using crypto AI trading apps. However, a good crypto AI trading app can democratize the success that comes with using AI. Remember never to invest more than you can comfortably afford to lose, and stay safe when trading. Practice good crypto wallet security and be wary of crypto scams. While AI is fast becoming an indispensable tool, it is best complemented with solid crypto knowledge and market understanding

Frequently asked questions

Top crypto projects in the US | June 2024

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform, web3school.us, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...
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