If you are looking for the best trading bot for Azbit, you should be really focusing on the search. While it is possible to run something like a DCA trading robot on this particular CEX, all users are limited to just five API seats significantly limiting the ability of clients to automate their investment activities.
Why should you think about using Azbit bot trading strategies?
The exchange has been around for over 6 years. It is a trustworthy platform with the majority of users coming from Europe. With a strong focus on several major tokens, it is a go-to place for many forward-thinking investors in the EU. There are several great advantages that this platform has:
- The spot market features 112 coins that are presented as 153 different pairs. The 24-hour volume often exceeds $400 million. The bulk of trading is generated by the BTC/USDC pair, but other interesting pairings are also popular. For instance, over 12% is BNB/USDT, and close to 9% is TRX/USDT. Close to 30% is generated by other digital coins. It is a versatile market that allows all users to trade efficiently.
- Many staking options. You don’t have to use advanced automated trading for Azbit to build a source of passive income. The CEX already has unique offerings with high APRs which are beating high-yield bank accounts and US treasury bonds (roughly 4.1% in October 2024). Investors can stake TELE, FRX, and ETCM tokens for 11%, 24%, and 45% APR respectively. The interest is accrued daily and you can take out your funds at any time.
- Early launches and listings can be incredibly useful for investors who are interested in short-term gains. While it can be risky to invest in no-name projects that are being launched at low-profile events, these tokens are usually dirt-cheap and even the slightest price appreciation can lead to large profits. You don’t have to focus on new listings but keeping an eye on up-and-coming projects is a good idea.
How to automate trading on Azbit
The platform does have an innate copy trading functionality accessible through “Copy Cash” which is a module for CEXes that allows them to offer social components to users. Azbit is a flagship brand for the Crypto2Cloud platform offering various instruments for centralized exchanges and assisting with launching new businesses in the industry.
However, outside of this functionality, which is also quite hard to find, there is not much going on. If you are interested in running the best automated trading tools for Azbit, it is likely that you won’t find any.
The API gateway is functional, offering access to the spot and futures markets. However, finding a ready-made solution that can directly connect to the digital infrastructure of this particular company will be a headache. The issue is that API is supported as an afterthought. You won’t be able to download a connector package or establish a connection in a couple of clicks. It will take some time and effort to do everything correctly.
To top it all off, some of the finest offerings in the automation sector, such as an AI crypto trading bot or other sophisticated designs, won’t be available to you since this CEX is not supported by many industry-leading providers.
How does an Azbit trading bot work?
The easiest way to create a functional robot is by using desktop applications and clients of advanced providers and projects like GunBot and HummingBot. Both can be used to establish a direct connection between you and the exchange. However, it takes some technical expertise and patience to prepare your robot setup for smooth sailing. In many cases, you will have to perform an unimaginable number of operations, rituals, and dances before launching your first ATS.
If it sounds like a big hassle, wait until you learn about the limitations of the API gateway that can maintain only five simultaneous connections which is a shame since many users would like to run complex strategies that require the involvement of several independently operating robots.
Setting up Azbit automated trading step-by-step
There are different instruments that you can use to create autonomous systems for this exchange:
- GunBot is a great tool for people who want to work within both the decentralized and centralized sectors of the crypto industry. It takes some time to get this platform to work but the results usually impress even non-believers. GunBot has a relatively simple interface and does not compete against industry leaders in a variety of options. Instead, it places its versatility at the forefront. The project allows users to run various ATS setups on DEXes and CEXes. While an Azbit grid trading bot setup with this platform may take some time because it is not supported directly, it is possible to connect the GunBot client via API.
- HummingBot is another useful instrument with a variety of different strategies to choose from. Thanks to the rich selection of preinstalled presets, HummingBot provides the necessary flexibility to create balanced portfolios. The installation process is simple yet inexperienced users may find that operating the client is difficult. The challenging onboarding process is the biggest downside of this completely free, open-source project backed by multiple CEXes including Binance, Kraken, Coinbase, KuCoin, and many others. If you manage to connect this app to the exchange, it will be the best way to create customizable bots for Azbit trades.
Admittedly, both these instruments are clunky and can be quite challenging to use efficiently if you do not have any experience in coding, using prompt consoles, and interacting with applications without a modern user interface. Unfortunately, these are the only available automation tools for people who want to run various autonomous strategies on this particular exchange.
The absence of a native Azbit trading bot with signal integration or at least a basic social component baked into the main exchange is a massive downside. We strongly believe that many modern users will benefit from simply switching to a CEX that offers a wider range of tools to its clients.
Setting up a trading bot on Azbit
Using HummingBot as an example, we will guide you through the process of initial installation of the client. Note that you will need to get API keys available on the account page on the Azbit website.
Below are several steps that you need to take to get started:
- Go to the official website of the project at hummingbot.org.
- Click the “Install HummingBot” button on the main page.
- Choose the source from which you will install it (Docker, MacOS, Linux, or Windows).
- Launch the application compatible with your OS. You will see the interface.
- Make sure that conda is activated, type “conda activate hummingbot” in the command line.
- Run commands “./compile” and “./start” to launch the main app.
- Create your password allowing you to launch the app. Passwords are stored locally.
- Type “connect [exchange_name]” and provide your API key along with credentials.
- If you do not see the exchange in the list of available CEXes, download the CLOB connector from your exchange.
CLOB and AMM connectors are either publicly available on the official websites of CEXes or provided if you contact the customer support team.
Azbit exchange trading bot tutorial
HummingBot allows users to run a variety of strategies. The Strategies V1 package contains systems like Pure Market Making, Cross-Exchange Market Making, AMM arbitrage, Hedging, Liquidity Mining, and Spot Perpetual Arbitrage. All of these systems work well on DEXes and can be used with some centralized exchanges. Launching them is quite simple since you will download them together with the client.
Strategies V2 is a package of highly customizable systems that can be launched if you download the necessary libraries. The modular design of the architecture splits the logic between data collectors, data processors, and order executors. It is a simple design that allows users to build any trading bot by adjusting the settings of modules.
AI bots for Azbit exchange
Artificial intelligence can be used to enhance any system that relies on pattern recognition. Some researchers believe that predictive analysis done by smart autonomous systems powered by machine learning can outperform experts. Many automation vendors in the crypto ecosystem are experimenting with the idea of implementing machine learning into various products. In some cases, these efforts are successful. In others, not so much.
While the current technological architecture of the CEX does not allow clients to run the latest Azbie AI bot strategies, you should be aware of their existence and understand how they work. Below are several examples of great tools currently available to retail traders:
- CryptoHopper offers one of the simplest AI-enhanced robots. They have a typical grid trading strategy that is partially managed by an autonomous agent trained through machine learning to recognize patterns in the market and make adjustments to avoid unnecessary risks. These robots can perform well in certain market conditions but may also produce questionable results in others. It is recommended to avoid trading during periods of high volatility.
- GunBot has a different approach to the implementation of artificial intelligence. Their idea of AI-powered automated trading on Azbit exchange, or any other CEX for that matter, is in the design, not the execution. The proprietary large language model can understand the natural language used by clients who simply describe how their strategy must work. The LLM processes the request and writes a script that fulfills the requirements. Just like any other LLM, this one can produce gibberish or nonsensical code that does not work. However, it usually generates good outputs.
- WunderTrading is a flexible platform that delivers a wholesome user experience. You can use the social component to follow any number of lead managers from a variety of CEXes. The portfolio tracker helps you keep an eye on investments. You can deploy all sorts of robots including popular systems like grid trading or arbitrage. The latest product in the lineup is the AI-assisted statistical arbitrage trading with bots on Azbit (or any other supported exchange). The system can manage massive portfolios with hundreds of simultaneous open positions.
It is true that the low level of integration of the exchange leads to the inability of its clients to utilize the most advanced tools available in the market. However, many users believe that they can achieve good results even with basic functionality offered by open-source tools and various programs that you can download from GitHub. We strongly believe that such instruments will be insufficient to build a flexible portfolio!
The main takeaway
Despite the lack of AI-powered automated trading on Azbit exchange, the CEX has many advantages. It offers access to a controlled spot market, invests in R&D, offers passive investment opportunities, and maintains a functional API. The problem is the lack of partnerships within the world of automation vendors. Companies like CryptoHopper and WunderTrading are changing the way many contemporary retail traders see the investment process. Manual trading is slowly becoming a thing of the past.
If you want to work with a trustworthy exchange that has respectable daily volumes and offers access to a wide range of digital assets, Azbit is a good choice. It has an 8 out of 10 rating on CoinGecko. On the other hand, people interested in running sophisticated strategies and making money in the short term would benefit from switching to a CEX supported by industry-leading providers.