If you are interested in a Tapbit trading bot and want to make your investment activities on the platform more efficient, you will be happy to learn that the CEX offers native functionality that may be sufficient in many cases. Whether you are interested in using something like a typical grid system or plan to offload some of your activities to lead traders on the social marketplace, this exchange has got you covered.
How to set up a trading bot for Tapbit
The platform has functional API gateways for the spot and contract markets allowing users to connect various applications or simply add some automation to their routines. However, the vast majority of highly specialized providers of trading automation, such as 3Commas or WunderTrading, do not support this CEX directly which should be taken into consideration when picking where you plan to conduct your investment operations.
Customers of this CEX can use a free trading bot for Tapbit enabled by default for all users with an active spot account. However, you may also be interested in something like HummingBot which is also a free, open-source project allowing users to automate various strategies and achieve consistent performance.
We cannot provide a detailed Tapbit crypto bot guide within the confines of this article, but below are three main options that you should consider when searching for the best way to deploy an ATS on this particular exchange:
- Desktop applications can be quite efficient. Experienced users with some technical know-how will easily find a good solution on GitHub where developers often leave their projects fully open to the public. Among useful repositories, finding a functional bot that can be easily connected to an exchange that has a working API gateway is not a tough task. HummingBot has a client that can be downloaded directly to your PC. This project has a rich collection of time-tested strategies.
- Use the native Tapbit bot for beginners. The company does not want to overwhelm its users with overly advanced functionality and strategies sophisticated to the level beyond comprehension. Instead, you will find only two types of automation options: (1) the social marketplace with hundreds of lead managers and (2) ready-made grid trading robots that can be deployed in one click. While these options seem limited, many CEXes do not have even this basic functionality.
- Employ third-party providers. Many companies that specialize in ATS have great products that can dramatically improve investment outcomes for contemporary retail traders. The issue here is that Tapbit automated trading strategies cannot be deployed using the services of the best vendors like CryptoHopper, TradeSanta, or WunderTrading.
These options may look slightly limiting. However, many newcomers to the industry will appreciate the ability to quickly react to the market without building sophisticated ATS strategies themselves. For instance, if you see that prices are rising across the board, it is a good idea to launch the readily available bullish trading bot for Tapbit. These grid bots simply trade along the trend and take advantage of price predictability when the market sentiment is established.
We strongly recommend choosing your CEX based on what you plan to do with available capital. For example, if you are interested in building a portfolio with long positions and plan to hold assets for several years, this particular exchange is a good choice. On the contrary, if you are interested in making money in the short term and want to implement advanced ATS strategies into your portfolio, switching to a CEX supported by the best providers can be a good idea.
Following the trend: an AI-based trading bot for Tapbit
While the AI hype train has significantly slowed down after the initial explosion of interest toward ChatGPT, machine learning and neural networks are excellent technologies that can be used in a variety of domains including financial markets. Robots powered by artificial intelligence are capable of navigating complex market conditions better than humans although investment outcomes still can be poor due to hallucinations, bad data sources, and other issues.
Contemporary investors who are interested in finding the best trading bots for Tapbit should at least try various AI-enhanced tools available to them for several reasons:
- AI technology is still in its infancy and will dramatically improve in the near future. Starting to learn it now, when it is being developed, is quite important as it gives you the advantage of becoming an early adopter. Multiple companies have AI-powered products that use machine learning. Having some first-hand experience is very important.
- Some strategies benefit from the application of AI more than others. For example, if you want to run a Tapbit grid trading bot, check out what CryptoHopper is offering to its clients. The AI-enhanced grid system can adjust existing positions according to dynamically changing market circumstances and make money even in the direst situations. The system is still raw and needs polishing, but even in its current iteration works quite well.
- AI is changing the way we look at investment management. WunderTrading, a leading automation provider, has recently rolled out its statistical arbitrage system powered by AI. Usually, such sophisticated investment approaches are used by large financial institutions. They require too much manpower and maintenance. However, modern AI agents can manage multiple positions at once and replace an army of retail traders.
Using an AI crypto trading bot is a novel experience. Many investors feel uneasy and do not want to experiment with technology that they do not fully understand. We strongly believe that dedicating a small portion of your portfolio to this exciting tech is a good idea. You don’t have to bank on machine learning to suddenly become godlike investment systems that outperform everything. However, using them in moderation can be beneficial.
Alternatives to a Tapbit API trading bot
This exchange is not the only one working in the US with a 24-hour volume of over $1 billion. Binance US, Kraken, Coinbase, and many others have superior metrics. At the same time, these exchanges are directly supported by many advanced providers such as CryptoHopper or WunderTrading. It is a good idea to focus on these CEXes if you are interested in building a portfolio that contains ATS strategies.
The current landscape of the sector is quite diverse and offers a wide range of choices to all contemporary investors regardless of which assets they want to target:
- GunBot is a good choice for users who are interested in setting up a Tapbit bot for arbitrage trading. This particular platform is great because it can connect to any exchange with a functional API and even supports some DeFi protocols. The LLM helps users write advanced scripts. You don’t have to learn coding languages to create sophisticated strategies that can operate without any human supervision.
- CryptoHopper is another interesting platform strongly focused on technology and elevating user experience. It is a SaaS vendor that does not directly support the exchange in question but the flexibility of the product may be sufficiently appealing to some investors so that they would switch to another CEX just to have access to tools like high-performance grid robots. The only downside of the platform is that it does not have any social components which can be a significant disadvantage for newcomers.
- TradeSanta is a place where you should go if you are interested in various ready-made strategies that can be deployed right away without any tinkering. While it is not the best choice for investors who want to build unique portfolios or have some experience in technical analysis, TradeSanta delivers a great product that will work for beginners and seasoned veterans. Again, the platform cannot connect directly to instantly create a Tapbit futures trading bot or anything like it for that matter.
- WunderTrading has one of the best dashboards with a multitude of useful features that many modern investors will find appealing. For instance, the portfolio tracking tool is a great way to take a look at the whole picture instead of trying to manually manage each separate robot. If you are interested in staples like grid and DCA trading systems, the company offers them alongside features like AI-assisted statistical arbitrage, signal robots, and custom scripts. If you are new to the market and want to get started easily, the social marketplace showcases hundreds of lead managers from all supported CEXes.
The main takeaway
It is true that the exchange in question is one of the most reliable in the US market with a high 8/10 trust score and over $1 billion in 24-hour volume. However, contemporary investors need more than access to the spot and contract markets. They need advanced ATS strategies, convenient systems that do the buying for them, and other useful features offered by modern vendors. Retail traders who can make a switch to large CEXes supported by excellent robot providers should do so if they are interested in building balanced portfolios focused on ATS.