How Much Do AI Trading Bots Cost?

Cryptocurrency trading is a booming industry and the majority of us are familiar with this evident fact. The practice of investing in cryptocurrency has become increasingly popular among investors. With the volatility at which cryptos move, its investors can trade them and make a lot of money. 

This has led to a spike in its development. Another reason is that trading cryptocurrencies is time-consuming. So, to stay on top, many speculators choose to use crypto trading bots to ace their trades in 2024. 

These bots are a program that operates online and performs tasks faster than a human possibly could. It helps leverage algorithmic decision-making and data-informed automation, resulting in profit growth, minimized risk, and limited potential losses. 

Indeed, an AI crypto bot is quite helpful and saves a lot of trader’s precious time. But, the bummer is the best ones aren’t free. 

In this guide, you can expect to see how much it costs including the cost of developing one or the cost of renting one. Also, we have noted 3 best trading bots in the market. Also, learn about Modern Trading Platforms with this guide.

The Cost of Building a Crypto Trading Bot

Concerning building a lucrative crypto trading bot in 2024, the cost is fully dependent on the work involved in creating it. For instance, factors like a programming language, algorithm complexity, backtesting and testing, integration with exchanges, user interface, dashboard, maintenance, and updates come into play.

To create one, you’ll need a computer programmer who has adequate experience in building trading bots. You can expect them to charge approximately $15,000-$30,000 for their time on a project.

Do You Know?:
Right now, only 38% of crypto users trade with bots. But the percentage rises to 86% when considering the amount of money moved.

Despite this, an estimated cost range can be as follows:

• For a simple bot with basic features: $5,000 — $20,000.
• One with advanced features and customization options: $20,000 — $50,000.
• A complex bot with advanced algorithms and scalability: $50,000+.

Take note, higher levels of programming skills lead to higher prices.

The Price of Renting a Trading Bot

Just like creating a crypto trading bot, as far as renting goes, you’ll most likely need to pay $6-12 a month per bot function to rent one. Most bots are expensive because they include features like portfolio management, market tracking, and order execution. 

Creating could not be everyone’s cup of tea, but fortunately, the practice of renting saves the game. 

To make it clear, the renting fee may vary and depend on the developer’s experience and the number of functions the bot has. 

Again, there are many low-cost ways to rent one of these kits without making a hole in a pocket. So, start by renting a cheap one. Then, as you gain confidence in your abilities, just upgrade to more expensive bots with more functionalities. 

The Top 3 Crypto Trading Bots in 2024

To remove the burden of researching from your shoulders, we’ve penned 3 of them for every investor. Here are the top 3 trading bots to research in 2024 at a glance:

For professional traders out there, 3Commas is a perfect choice. It offers sophisticated trading options that too in a user-friendly and affordable package. With enough time and effort, it can provide extremely detailed control over the way one executes strategies across exchanges. 

In addition, it supports exchanges of Binance, Binance Futures, Binance US, Bybit, Bybit Futures, BitMEX, Bitfinex, Bitstamp, Crypto.com, Gate.io, Gate.io Futures, Gemini, Kraken, KuCoin, OKX, Poloniex, etc. 

Fast Fact:
Binance has the broadest number of trading bots and 83.3% of people use it. 66% of all support Coinbase.

Here are the pros and cons of using it:

Pros:

• As mentioned, it works with popular exchanges.
• It is accessible globally.
• Trading academy for beginners.

Cons:

• There are no smart bots in free plans.
• Not for beginners. 

Price: The plan starts at  $4 a month up to $59 a month.

You can join 100,000 traders across 100 countries by choosing Pionex. This beginner-friendly and reputable platform leverages artificial intelligence. How? It comes with an AI chatbot feature for custom trading strategies.

 It is an innovative crypto platform where investors can begin investments with 16 crypto trade bots like Grid trading, Martingale, Leveraged grid, Infinity grid, Spot-futures arbitrage, TWAP, Trailing sell, Trailing buy, Infinity grid, etc.

Practically there is a bot for every strategy, every budget, and every level of experience.

Before making a decision, consider its pros and cons:

Pros:

• Backtest strategies.
• Charges low fees.
• Exchange with built-in trading bots.

Cons:

• Fewer features in both free and paid plans.
• High fees for fiat deposits

Price: There is no monthly fee but a .05% trading fee on each grid trading transaction.

This is touted as the most customizable crypto trading bot. CryptoHopper is popular for its ability to work closely with exchanges and regulators. This doesn’t lose their user’s trust. Not only this, but even accounts happen to be regulated by industry-leading security protocols.

This platform works with 100+ tokens on 15 exchanges and is great for investors of every level of experience. 

Statistics:
As per the analysis of the percentage of users who have tried each cryptocurrency trade bot, most investors have used HAAS online to amplify their trading. 

From standard features like automatic trading or social trading to advanced features like setting up trailing orders to sell or buy based on a given price direction, it can do all. 

Now, take a moment to look at its pros and cons:

Pros:

• Supports 130+ built-in technical indicators.
• Integrations for 17 crypto exchanges.
• Free starter plan.
• Marketplace of bots to copy trade.

Cons:

• Support only ticketing instead of phone support.
• Additional fees for signals.
• Only supports crypto trading.

Price: Paid plans go up to $107.50 a month.

Final Take 

In summary, the traditional practice of keeping up with the 24/7 markets tends to be draining and is likely to sooner or later lead to burnouts. To eliminate such scenarios, AI trading crypto bots come into the picture. 

The strategy of automating cryptocurrency portfolios can be a huge time saver for sure. The best trading bot helps in discovering opportunities to trade, reduce risk, and earn more profits. 

It’s your call either to create one from a programmer or rent one. Otherwise, use any of the aforementioned bots to unlock new possibilities and uplift your trading game.

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