Pick the Best Bybit Bot for 2024: Automate Your Crypto Trading Like a Pro

Bybit has a solid reputation for offering top-tier crypto trading features. It also empowers traders to seamlessly automate their strategies using bots.

This allows you to seize market opportunities around the clock while keeping emotions at bay.

This guide explains how to choose the best Bybit bot for your trading style. We also review the top trading bots available – covering key features, pricing, and strategies.

Top 10 Bybit Bots of 2024: In-Depth Reviews & Comparisons

Let’s dive into the best Bybit bots in more detail – exploring their features, strategies, and pricing.

1. Algobot – Top Bybit Bot Supporting Multiple Risk Levels

Algobot tops our list with its powerful AI-based trading algorithm. Boasting a historical win rate of over 81% – it leverages machine learning to adapt to the crypto market constantly. Its sophisticated algorithm is built with 100+ technical indicators and thousands of lines of code. This enables it to identify profitable crypto trading opportunities 24/7.

Moreover, Algobot is enhanced by its customizable risk settings. It supports conservative, balanced, and aggressive trading styles and works in demo mode. Additionally, Algobot delivers trading signals via Telegram, keeping traders informed on the go. Algobot is compatible with prominent crypto exchanges, including Bybit, via Cornix.

Algobot also works with other asset classes, including forex, crypto, stocks, and commodities. It also features proprietary indicators that can be integrated with TradingView. Algobot’s crypto plan is priced at $59.99 monthly – offering AI-powered trading tools and signals. For advanced traders, the Ultimate plan is available at $109.99 per month.

2. Bybit Trading Bots – Automate Trading Without Extra Subscription Costs 

As a popular crypto trading platform, Bybit also features its own trading bots. These are integrated within the exchange and can be implemented within minutes. For spot markets, Bybit offers DCA and grid preset bots. On the other hand, futures traders can utilize grid, martinage, and combo bots.

Other top features include real-time market analytics, an advanced trading interface, and backtesting capabilities. Regarding pricing, Bybit does not charge fees for using trading bots. However, all bot order executions are subject to standard trading fees. This stands at 0.10% for spot trading and up to 0.055% for futures.

3. TradeSanta – Preset Bybit Bots for Spot and Futures Markets

TradeSanta provides several bot types for Bybit users. The grid bot is handy for sideways markets. On the other hand, the DCA bot helps in averaging entry prices during market fluctuations. The third type, signal bots, can be configured to react to various technical indicators and market conditions.

TradeSanta allows traders to set up bots quickly using pre-built templates or custom configurations. It also offers real-time analytics and performance tracking. Another interesting aspect of TradeSanta is that it supports both spot and futures trading on Bybit.

TradeSanta users can also test Bybit bots in demo trading bots. TradeSanta plans start from $25 per month, catering to different trading volumes and feature requirements. Higher-tier plans offer additional features like trailing take profit and access to TradingView signals.

3. 3Commas – Automate Trading Signals via Bybit Bots

3Commas offers a powerful suite of Bybit bots with automated strategies. Users can access grid and DCA bots – each designed to work on different markets. Plus, you can automate signals from TradingView, PineScript, and other platforms via webhooks. This signal-based bot works for both long and short positions.

There’s also a marketplace to access third-party signals – albeit these might come at an extra cost. 3Commas also lets you manage up to 200 crypto pairs with just one bot. The platform also has a SmartTrade terminal with TradingView charts and tools.

Traders can use the terminal to place simultaneous take-profit/stop-loss and other advanced orders. This interface can also manage manual trades on Bybit and other exchanges. Pricing for 3Commas is tiered. Users can access one bot of each type for crypto spot markets for free. The paid plans start at $49 a month.

4. Coinrule – Rule-Based Bybit Bots Suitable for Beginners

Coinrule is a good choice for beginners looking to automate their Bybit trading strategies. It lets you create bots with simple trading rules – without coding knowledge. To get started, Coinrule offers a wide range of preset templates for various trading strategies. Users can deploy them directly, modify or use them as inspiration to set their own bot rules.

These rules can be based on a wide range of indicators. For instance, you can ask the Coinrule bot to buy LTC when the RSI crosses 50. Or, sell LTC when SMA100 is less than SMA200. These bots also support a wide range of cryptocurrencies. The rules can be paused or stopped as needed.

Coinrule also offers a demo mode, enabling users to test their strategies risk-free before committing real funds. The pricing structure here is tiered, with a free plan available for those wanting to test the waters. It lets you access one exchange and up to seven template strategies. For more options, consider the paid plan at $39.99 a month.

6. CryptoHopper – Strategy Builder to Create Your Own Bybit Bot

CryptoHopper offers AI-driven algorithmic trading capabilities. It allows users to create, customize, and deploy Bybit bots without extensive coding knowledge. Its intuitive strategy builder is complemented by preset options like grid, DCA, and signal-based bots.

The platform stands out with its extensive customization capabilities, enabling users to fine-tune strategies using various technical indicators. Plus, the built-in marketplace lets you purchase pre-configured strategies from experienced traders, enhancing your trading approach. With features like backtesting, demo accounts, and copy trading, you can refine your tactics before going live.

7. Bitsgap – Use AI Assistant to Pick the Right Bybit Bot Strategies

Bitsgap is another bot provider that’s particularly suitable for newbies. It’s user-friendly and offers two types of Bybit bots – DCA and grid. These are customizable to match your unique risk preferences. Bitsgap also has a comprehensive backtesting tool to test bots before deploying them live.

Furthermore, traders can fine-tune their bots with trailing up, take profit, and stop loss settings. Butsgap offers Pump and Dump protection, helping to safeguard investments against market manipulation. If you’re unsure where to start, Bitsgap AI assistant can’t help you pick the right Bybit bot.

Bybit pricing starts at $28 a month for three active and 10 DCA bots. Higher-tier plans priced at $65 and $143 offer expanded limits and more tools. All plans include a 7-day free trial, letting users explore the platform risk-free.

8. Altrady – Trading Bots With Advanced Backtesting Capabilities

Altrady offers a comprehensive suite of automated trading tools for Bybit users. Its selection includes grid, DCA, QFL, Signal, and futures bots – catering to various trading styles and market conditions. The platform is also coveted for its useful backtesting capabilities.

For advanced traders, Altrady offers a wide range of tools. Its smart trading interface lets you manage all different bots and set up orders from one place. Users can also access a scalping scanner, a market watchlist, and an integrated trading journal.

Furthermore, you can also track your Bybit portfolio growth via Altrady. Potential users can try Altrady’s features with a 14-day free trial. Paid plans start from €24.95 (around $27) a month. All plans offer access to an unlimited number of DCA bots.

9. HodlBot – Automated Bybit Crypto Portfolio Management 

HodlBot offers automated crypto portfolio management, simplifying diversification on Bybit. It features crypto indices that allow you to invest in broad market segments with just a few clicks. There’s also a set of advanced metrics to help you choose the right cryptos for your portfolio.

Additionally, HodlBot provides insights into your portfolio’s performance under past market conditions. Its automatic rebalancing feature ensures your holdings remain aligned with your targets – adjusting allocations as needed. You can customize the rebalancing frequency and even blacklist specific coins for a more tailored investment strategy.

Another highlight of HodlBot is its pricing structure. It’s free to use for the first seven days, and the subscription starts at just $3 a month for an account value of under $500. This means you can get started with a small investment capital. Two more plans are available for higher account values.

10. GoodCrypto – Mobile-Based Bybit Bot for Traders

GoodCrypto is an app-based bot provider available on Android and iOS devices. It provides all the necessary tools for Bybit traders. It comes with preset bots for grid, DCA, and signal strategies.

Additionally, users can access features like charting tools, technical indicators, and the ability to execute different orders. It also offers real-time portfolio tracking across multiple exchanges. Users can also set custom price alerts for their preferred cryptos and receive technical analysis signals.

Another strong selling point is GoodCrypto’s price structure. Its free plan lets you use the majority of advanced trading tools available. However, the Bybit bots cost $14.99 a month. GoodCrypto also extends support to over 35 exchanges and 12 blockchains.

What is a Bybit Bot and How Does it Work?

A Bybit bot is a trading tool designed to execute trades on the Bybit exchange automatically. It’s programmed with algorithms that handle the entire trading process. The bot can explore market trends, monitor price movements, and place orders – all by itself.

How the bots find trading opportunities depends on their underlying program. They come with customizable preset crypto bot strategies, making breaking into the trading scene easier. Furthermore, these bots can also customized to suit specific risk appetites.

So, how does a Bybit bot work?

• The majority of bots available today can be configured and launched in a few minutes.
• You can connect them to Bybit via API keys, granting them access to execute trades on your behalf.
• Once connected, you can configure risk tolerance, trading pairs, and order types.
• The bot then scans the market and identifies opportunities based on its strategy.
• It opens and closes positions automatically, based on preset conditions.

The best Bybit bots save you time, reducing the need for constant monitoring. This hands-free approach allows traders to take advantage of the market 24/7, even when not actively trading.

Benefits of Using a Bybit Bot

Bybit bot can help make crypto trading more efficient in the following ways.

Active 24/7

Crypto markets are open 24/7, and let’s be honest – no one can be glued to their screens all day and night. This is where Bybit bots come in handy.

They work around the clock, scanning the market for trading opportunities while you’re away. Whether it’s catching a sudden Bitcoin surge at 2 AM or avoiding a major dip, the bot has got your back.

No Emotional Influence

Emotions often cloud judgment in crypto trading. Fear of missing out (FOMO) or panic selling are common emotional traps that lead to poor decisions. Bybit bots remove these human emotions from the equation.

They stick strictly to their programmed strategies, ensuring that each trade is based on logic and data rather than reacting impulsively to market fluctuations.

Plenty of Strategies to Choose From 

Not all traders follow the same approach – and the best trading bots reflect that flexibility. Whether it’s day trading, scalping, or HODLing – you can find bots featuring preset strategies that suit your style. For instance:

• Conservative traders can use a DCA-based Bybit bot for a long-term strategy. This spreads your buy orders across a specified period, minimizing market volatility’s impact.
• Conversely, aggressive traders can try grid or arbitrage strategies. These are high-risk but also offer great profit potential.

Other than strategies, you can also adjust your bot settings with advanced trading orders. In other words, you’ll have plenty of options to choose from.

Suitable for Different Experience Levels

Bybit bots are also becoming increasingly versatile. For beginners, providers offer preset bot strategies. This makes it easy to get started without extensive knowledge of strategies or technical analysis.

Intermediate and advanced traders, on the other hand, can design their own bots. Many providers offer strategy designers with advanced order types to facilitate this. Put simply, no matter your trading experience, it’s possible to find a Bybit bot that fits the bill.

Drawbacks of Bybit Bots

Bybit bots, like all trading tools, come with their own risks. Read on to learn more about what you should be careful about with this trading software.

• Limited Human Oversight – While bots can operate 24/7, they still need regular monitoring. Fully trusting a bot without human intervention can result in missed opportunities. It could also lead to unmitigated losses if market conditions change drastically.
• Strategy Underperformance – Bots follow predefined strategies, but these strategies may not perform well in all market environments. A strategy that worked well in the past may fail during different market conditions, leading to disappointing results.
• Dependency on API and Internet – The bot’s performance depends on stable Internet and API connections. Server downtimes or connection issues can result in missed trades or faulty executions.
• Risk of Over-Optimization -Tuning bot settings to past market performance can lead to over-optimization. This makes the bot too rigid and ineffective in new or unexpected conditions.

Crucially, bear in mind that Bybit bots cannot guarantee profits. Market conditions, timing, and liquidity all influence trade outcomes, and even well-configured bots can experience losses.

How to Choose the Right Bybit Bot?

Choosing the right Bybit bot is key to optimizing your trading strategy. With numerous bots available, selecting the right one involves considering various factors – as discussed below.

Determine Your Trading Goals

Before choosing a Bybit bot, clarify your trading objectives. Consider whether you want to generate short-term gains or focus on long-term profits. Bots using grid or scalping strategies are better suited for traders seeking fast profits.

Alternatively, portfolio rebalancing bots are designed for long-term investors. Understanding your goals helps you pick a bot that aligns with your trading horizon.

Consider Customizability

Flexibility is also critical when choosing a Bybit bot. If you’re new to trading, a bot with pre-configured settings may be the best way to start. If you want more control over your trades, choose a bot that allows you to adjust parameters such as trading pairs, risk levels, and stop-loss limits.

User Experience and Interface

Beginners should focus on bots with intuitive interfaces and minimal setup requirements. A bot with a simple dashboard, clear instructions, and strong customer support will make the process smoother.

More advanced users might prefer bots with robust features, like backtesting and technical analysis tools. The best bots for you should balance user-friendliness with the required functionality.

User Feedback 

Always check user reviews and testimonials before selecting a bot. A bot’s reputation can provide valuable insights into its performance, reliability, and customer support.

Look for platforms with transparent records and positive feedback from the trading community. Beware of bots that promise guaranteed profits. Remember, no bot can eliminate risk completely in crypto trading.

Pricing Plans

Bybit trading bots typically come with a variety of pricing plans. These range from free versions with limited features to premium options with full functionality. Some bots charge a one-time fee, while others have subscription-based models that charge monthly or yearly fees.

If you’re starting out, test free or lower-cost options before committing to a paid plan. Keep in mind that the cheapest bot may not always offer the features you need. As such, evaluate the bot’s cost against its capabilities and support services.

How to Get Started With a Bybit Bot?

Now that you know how to choose the best Bybit bot, let’s go over the setup process.

Step 1: Log into Bybit 

First, you’ll need an active Bybit account. If you don’t have one, sign up on Bybit and complete any verification requirements. Make sure your account is ready for trading with sufficient funds deposited.

Step 2: Create API Key 

Head over to the account settings page and go to the ‘API’ section. Here, click on the ‘Create New Key’ button located on the right side of the screen.

In the pop-up window, configure your API key according to your trading bot’s requirements. Typically, you’ll need to enable:

• Read permissions for account and market data
• Trade permissions for executing orders

Next, set up your Google authenticator 2FA. After completing the verification, the API and secret keys would be generated.

Step 3: Enter API Keys into the Bot

Now, go to your chosen Bybit bot platform and locate its API integration section. Alternatively, if using Cornix, open the chosen Bybit bot on the platform. Enter the API and secret keys into the respective fields.

This will connect the bot to your Bybit account, allowing it to start trading.

Step 4: Test in Demo Mode and Launch

Before diving into live trading, testing the bot in demo or paper trading mode is a good idea. This helps you ensure the bot executes trades as expected without staking real funds.

Once you’re confident about the parameters, go ahead and launch the bot.

Conclusion

Put simply, picking the right Bybit bot can seriously impact your trading outcomes. With numerous bots offering different features, picking one that matches your needs is crucial. If you’re looking for a bot that combines automation with flexibility, Algobot is a top choice.

It has an AI-driven algorithm and customizable risk management options. It also adapts strategies as per market conditions. Moreover, Algobot is compatible with different asset classes, making it suitable for both crypto and traditional markets.

FAQs

Does Bybit allow trading bots?

Yes, Bybit permits trading bots through its API, enabling automated trading strategies. Several third-party bots, like Algobot and 3Commas, are compatible with Bybit for seamless trading automation.

Which is the best Bybit bot?

Algobot is a great option for a Bybit bot due to its AI-powered trading algorithms and customizable risk settings. It offers advanced features like Telegram signals and integration with multiple asset classes.

Is Bybit bot profitable?

The profitability of Bybit bots depends on its algorithm, strategy, and market conditions. While trading bots can enhance efficiency, success largely depends on careful configuration and risk management.