Cryptocurrency Trading Bots 101: Passively Grow Your Portfolio

The Crypto Battle rages! 

This article is for crypto enthusiasts who already have a portfolio and are looking for the best cryptocurrency trading bot to passively grow their wealth. This is not really a topic for newbies to crypto. If you’re new to Crypto, start here. 

I strongly recommend reading this post to get to grips with crypto trading bots but if you’re keen to just get started with the best bots on the market – Check out Pro Crypto Bots here. 


My Cryptocurrency Journey

I started investing in and trading Cryptocurrency in December 2016. I began my journey by pulling together $9000 on credit cards and buying 15 Bitcoins at $650 a pop. I taught myself to trade and diversified into altcoins.

Over the following year, I had some epic wins where I made 1000% or more on certain positions and had some epic losses where I lost $20,000 or more in mere minutes. It was a rollercoaster.

By Christmas 2017, my cryptocurrency portfolio was worth over $350,000 – all this from the original $9000 investment into Bitcoin. 

Here’s the thing – it was pretty easy to make money if you got in around the time that I did, the market was growing exponentially and there was daily hype meaning new people were entering the Cryptosphere and pumping prices ever higher… It was a golden time.

In December 2017, a single Bitcoin was worth nearly $20,000.

Today, in January 2019, a Bitcoin is worth around $3,500.

Every day I get emails from people asking what they should do with their cryptocurrency portfolio… Is there going to be another gold rush? Will Bitcoin and other coins reach their all-time highs again? Should we just cut our losses and exit Crypto now?

Hell no to the last question.

In my opinion, we will see Bitcoin hit $100,000 a coin at some point over the next couple of years.

However, when that will be – truly I have no idea.

The thing is that Cryptocurrencies are still very very new, but they ain’t going anywhere.

Cryptocurrencies solve a number of problems – not just the cheap, anonymous and fast transfer of funds – and represent many exciting ventures in the tech and financial industries. Cryptocurrencies represent the revolution of our outdated financial sector and over time we will see mainstream adoption of Bitcoin and other cryptocurrencies.

So the best piece of advice I can give to anybody who has a Cryptocurrency portfolio is to remain strong… Do not dump your portfolios for pennies on the dollar. However…


To simply SIT on your crypto portfolio, doing nothing, is foolish.

You want to be constantly growing your Cryptocurrency portfolio and increasing your wealth. Ideally, you want to do this with a minimum of work and stress.

Recently, I’ve been taking an increased interest in how to automate my Cryptocurrency trading using a cryptocurrency trading bot based on advanced algorithms.

If you have a portfolio already (especially if you have a large one), it really does make sense to seriously consider utilising a crypto trading bot to grow your portfolio for you in the background.

Whilst the value of Bitcoin, and other cryptocurrencies, will continue to fluctuate – I am sure we can all agree that it’s better to have more Bitcoin!

There are quite a few free Bitcoin trading bots out there but almost all of these are shit and if you want to get the best results, you need to invest into one of the best crypto trading bots… Luckily for you, we’ve been doing a ton of research and have a solid trading bot review for you.

If you are interested in growing your cryptocurrency portfolio using an automated crypto trading bot – this post is a great starting point…

Today, I will be sharing the floor with my good friend Chiang Mai Chuck.

Chuck is a full-time professional cryptocurrency trader who has managed the impressive feat of living off his earnings from just a 10k initial investment into crypto. I’ve known Chuck for nearly two years – we often work out together, play Call of Duty together and talk about the state of the Cryptosphere…

Chuck has been experimenting with some of the best cryptocurrency trading bots for a while now and I’ve recently jumped in with the goal of growing my Crypto portfolio passively in the background.

For me, I’m far too busy running my online ventures and enjoying my life to want to stress with day to day Crypto trading so using a bot makes perfect sense – I can be sure that my portfolio is growing and I don’t have to actually do anything (now that it’s all set up).

Anyways, without further ado, allow me to introduce you to Chuck, he will walk you through his findings on the exciting world of crypto trading bots…

To infinity, and beyond.


My Story

I started as a full-time crypto trader in early 2017 with $10k in capital. I was living in Thailand so my monthly expenses were only about 2k (super cheap!).

I had to generate a 20% profit every month just to pay the bills. Well, crypto was booming at the time and it was feasible even for a complete novice like me to continuously hit those targets. The major missing piece here was that I spent those returns every month instead of letting them compound. I thought being a trader meant living off profits, without understanding what would have happened had I used those returns to keep growing my capital instead.

Well here are the numbers for that experiment – I withdrew a total of $18k for 8 months living expenses generated on $10k in capital  – great, right? 

No, not great at all – with the benefit of hindsight this has turned into a painful lesson.

If I had not withdrawn those funds, compounding those returns instead of withdrawing all my profits every month would have turned that $10k into $43k in the same time period. That’s two years of living expenses instead of just eight months with the same initial investment.

But what would happen if we left that capital and worked on it for 3 years with the same rate of return? Total capital would be $7 million. Yes, $7 million.

5 years? $563 million. You read that right.

Now, I wasn’t an experienced enough trader to play a bear market and generate consistent returns when the conditions changed anyway. That takes LOTS of time and experience (more on that later).

But that potential for incredible growth is what compound interest does. Again – consistent profitability, quantify the maximum downside risk, and don’t touch the gains until your goal is reached. These are the lessons I wish I knew when I started.


Compound Interest is the Key to Wealth

Compound interest is a beautiful thing, with more potential to be life-changing than nearly any other financial concept.  The hard part is to always keep the big picture in mind and not obsess over each trade or the everyday, and let your money grow without touching it! This last part is probably the most important and the most difficult. If you’re actively trading (or using a crypto bot), the idea is not to hit one big jackpot but to be consistently profitable over time.

Compounding is Hard

Of course, not everyone has the time or ability to become a full-time cryptocurrency trader, there is a massive learning curve, markets change, drawdowns happen, almost everyone will lose all their money in their journey to become a true professional (I did 4 times over – slow learner), not everyone has $10k to invest in crypto, and everyone will want to withdraw their funds at some point.

Don’t worry, we will cover the best way to deal with the above! 

“Trading the markets seems easy at first. I can assure you it is anything but easy”  – Ray Dalio, Bridgewater Associates (the most successful hedge fund in history).

Ray’s right. However, there are definite trends that can be followed that will return a consistent profit even though there will be inevitable losses along the way. Profitable trading is a game of probabilities, there are things you can do to increase your chance of winning- such as learning how to follow trends and chart patterns. 

Most new traders make counter-trend plays in hopes of generating outsized returns. Most new traders also lose money. By utilising a cryptocurrency bot to make your trades for you, you can play without emotion and stick to a strategy that would be far too time-consuming to do manually. 


Richard Dennis and the Rise of ‘Mechanical Systems’ in Trading

Before we dive into the exciting world of cryptocurrency trade bots, I want to tell you about a legend… Richard Dennis.

Richard Dennis started trading at the young age of 19 and managed to turn $400 into hundreds of millions from the 1970s through the late ’80s, primarily in the Chicago commodities markets.

His secret was simple: a trend following system.

He basically bought anything when its price rose above the 25 or 55 day high, within strict risk-management guidelines for position sizing. Buying only high prices seems counter-intuitive, but he held his positions for long periods of time. Which was opposite to the vast majority of traders in that era who were in and out of positions every day and trying to scalp for quick profits.

He did this because he understood that the commodities markets moved in long directional trends and that the big money was in the long, slow price action.

Can you think of other markets today that move in long directional trends? (hint, hint – Crypto)

To prove that successful trading could be taught, he hired 23 people from all walks of life, trained them on his system for two weeks, and then backed them with his own money. They became known as the Turtle Traders, so named because they moved slowly and stayed in positions for far longer than other traders.

In the beginning, he kept a very close eye on them and put them through a one-month trial period where they could trade on a limited basis. Quite a few failed, simply because they thought they could beat the system and make more money faster. Richard promptly fired each of them that made that mistake, because not only was it his money they were risking, but his priorities were following the trend, staying in the big price moves for long trades, and minimizing risk. Those that remained were given between $500,000 and $2 million of Richard’s money to trade.

As you may have guessed, this story has a happy ending for all of those who stuck to Richard’s system. It is estimated that after five years the Turtles’ combined profit was $175 million. All of them became millionaires, and many of them grew into financial titans of today (Jerry Parker of Chesapeake Capital, Liz Cheval of EMC, Paul Rabar of Rabar Market Research, Tom Shanks of Hawksbill Capital Management, Howard Seidler of Saxon Investment Corporation, Jim DiMaria of JPD Enterprises, Inc., sourced from Wikipedia). There have also been two books written on this experiment ‘Way of the Turtle’ and ‘The Complete Turtle Trader.’

Before you run out to buy these books, we need to look at what happened to Richard Dennis and his mechanical system after the 1987 market crash known as Black Monday.

The Turtles lost money; and a lot of money. At least $50 million in 1988 alone. Sadly, Richard’s system was never quite profitable again. He was sued by his investors, made a couple of comeback attempts in the ’90s, and eventually closed up shop for good in 2000. Before you feel too bad, he was still worth hundreds of millions and was able to focus his time on charities and causes he was passionate about. All things considered, it’s fair to say he crushed it and ended up with a life where all his choices were his own.

Why did the system never work again? There’s not a clear answer, or Richard would still be using it. But I have a theory; trend-following systems work best in younger markets, and as more and more capital came into the commodities markets he traded, the dynamics changed over time.

Trends were less clearly defined as supply and demand came into balance and price became set by a highly efficient global market, instead of being dominated by human emotions and singular events. It probably grew less and less profitable until it wasn’t worth using the system at all. But, consider that this took 17 years to come about, so it was a great long run that made everyone using this system incredibly wealthy.

There are clear parallels here to Bitcoin and other Cryptocurrencies; it’s a super young market, it’s volatile, it’s trends (both up and down) are world-famous even to non-investors.

I tried to make my own mechanical system and used it on BTC but ran into some problems: since its’ a 24-hour market, it’s easy to miss important trades or big price action if you’re trying to implement your own system by hand. You’ll miss the triggers and entry points.

The Turtles had the luxury of markets that were only open on business hours and closed on weekends and holidays. We don’t have that. It was also incredibly time-consuming to backtest historical price data on your own, in Excel. So I didn’t even really know if it would work.

I needed a way to test the data – preferably using an independent company, a way to automate the trading system, and a highly accurate algorithm that was tailored to the Bitcoin market. This would naturally lead you to start searching for the best crypto trading bots on the market… 


Cryptocurrency Trading Bot – Finding One that Works

If you’ve been in crypto for a while, you’ve probably heard of trading bots. The two biggest names in the trade bot space are Hassbot and Coinhopper. I never used these personally, because they appear to focus on quick, tiny gains, or on the user building out their own strategy. Most importantly, they don’t publish the results for any of them. If these crypto bots do work, why won’t the team show proof? And why would you buy something before you know if it works? That’s a practice I tend to avoid…

This is the beginning of the journey of how I stumbled across the independent bots on TradingView. Individuals who are trying to create their own mechanical system can use the TradingView software to automatically backtest the strategy to find out if it works. This is huge.

Someone I followed accidentally posted a chart showing their algorithm executing trades and I jumped on it. It looked pretty good, so I asked if I could use it. After a couple weeks of back and forth, the guy communicated to his friend who had started it, whom I had to pay in Bitcoin and then go through the initial headache of setting it up unassisted. I’ll be straight with you – it was a pain.

This guy’s trading algorithm was brand new and I was his first customer, so we struggled along together. After a couple days of set up, I was rigorously pouring over trade history for 13 hours a day to see if I could trust it to trade on its own with my money.

It quickly became apparent that in the market conditions we were in at the time, it wasn’t profitable. Most trend-following strategies will get chopped up in a ranging market. We were ranging at the time and the price action kept triggering buy or sell alerts at the wrong end of the range. After 18 straight days of price chop, the bot would have bankrupted an account using any leverage. It still needed a lot of work…

But it was clear this guy was still on to something. It caught every major price move by BTC over the last six months, which is not easy to do. If you’re a trader you’ll know about fighting the emotions of hope and fear, and how they work against you. This bot didn’t get faked out by a short squeeze on Bitfinex or whales putting up hidden buy walls. It didn’t get duped by a huge dose of ‘hopium’ from Crypto Twitter. It consistently followed the major trends and made money most of the time. You just had to manage it and turn it off when price was consolidating.

It quickly became clear to me that if you found someone making bots who really knew what they were doing, they could reach the ‘holy grail’ trading goal of being consistently profitable.


How I found the BEST Cryptocurrency bot on the market…

After many more days of testing and lots of trial and error, I happened across a screenshot of a different bot. This time it was made by someone who clearly knew what they were doing. This was an insane step up from the first bot I had experimented with – every single setting and time frame had been tweaked, adjusted, and tested for maximum profitability and minimal drawdown. Trends were caught earlier. Maximum drawdown was measured and accounted for. The total returns were the best I’d seen and better than I had initially thought possible. 

Furthermore, every step for setup was laid out clearly so all I had to do was follow the instructions and cut and paste. There was even a video walking you through the settings. If only it had been this easy the first time…

It was immediately clear that this guy had spent a significant amount of time to hone this beyond anything I had seen before, and I’ve been in this space for a (relatively) long time. He even had a Discord chat with every setup up question laid out and answered, and a really small community of people helping each other figure this stuff out. And almost no one was using it yet.

After running the data myself and testing it with small amounts, I switched over from the first bot and have never looked back. This is now what I use on my main account and I am comfortable backing it with my hard-earned money. It has been such a good experience that I also recommend this to my friends, family, and anyone else that believes in Bitcoin long-term and wants to increase their exposure to it beyond just holding.

And here’s the thing – I showed the data to the first bot guy, and he was so blown away that he signed up too on the spot, realizing that these results were better than anything he was able to get. 


Don’t Take My Word for It

Seriously, don’t take my word for it – the screenshot below is from TradingView’s data backtesting service. The truth lies in the data… 

So far, user feedback has been unanimous – this trading bot is a total game changer. You can see a whole bunch of user reviews below… 

 If you’re serious about crypto trading and want to actively work on building up your stake (without the stress and headache of day trading) you should be looking at crypto trading bots as the next logical step.

Back to the independent data – because this is what’s really important. You can’t test the data yourself until you’ve paid for access to the bot but you CAN see the results of the data here. 

According to the independent data: this iteration of Goldman Bot is profitable 77% of the time, with a total average return of 45% per trade (return per trade factors in compounding over the course of the data sample).

From December 2017 to January 2019, the trading bot would have executed 13 trades resulting in a total return of 596% and a maximum drawdown of only 4%!! That’s with no leverage. You could use up to 2x leverage, nothing more, so you could double that total return number to 1,192%… (it would actually be higher than that because of- you guessed it, compounding)


Why You Should Try It

Going back to our compound interest discussion, an annual return of 1200% (using 2x leverage) would turn $5k into $235k in two years. This bot has actually had even better performance, but just wait- two more years?

$11 million.

Yes, that’s ridiculous money and I’m not going to guarantee this will make you a millionaire in just four years from $5k. The bots need volatility to generate returns and the crypto markets are moving slowly right now. But once you’ve started, time is on your side. Have patience and let your capital grow. Markets do change and volatility generally decreases as markets mature; which means that these kinds of gains in BTC will most likely be harder to achieve in the years to come. But, those are the gains this bot has achieved consistently so far, in a bear market.

Not many traders will ever match those returns and those that do will spend years getting good first. This trading bot only takes half an hour to set up and then it runs itself.

You will take losses. Think of this like being a shareholder in a casino where the odds are in your favour – not every trade will be a winning one and it will take a lot of trades to grow your account enough to reach your goals.

This is not a get-rich-quick scheme. It will take time, years even.

These sophisticated bots have taken 4 years of experience to develop, and have so far delivered consistently profitable results that will grow your capital. Results that are independently verified. And that also happens to be the best I’ve ever seen.

Furthermore, the bot architect is always working on improving it and adjusting it to the ever-changing market conditions. He’s incentivized as much as you are because it trades his money too.

Let’s put it this way: if you had bought bitcoin at the height of the market at the end of December, you would be down 80% today. Had you bought the bot and used it on that capital at the same time, you’d be up in BTC 596% with no leverage. At 2x leverage, you could have almost 1,200% of your initial amount of BTC instead of just the 80% loss in USD value.

These numbers are so good as to invite some skepticism. I was doubtful too. Try it for yourself and see. 


What’s the Downside?

Every seasoned trader knows to measure the worst-case scenario before entering a new position. It’s a great practice and one that translates well to the real world too. So what does the worst-case scenario look like here?

You’ll notice from the data report above that the bot only made 13 trades in 2018. It caught all the big moves and followed the trend beautifully. But, this could mean that you sign up for the service and then potentially wait 2 whole months before being able to enter a new position. Ouch!

Not to worry. There are smaller time frame bots available that trade much more frequently and will allow you to continue to grow your account while you wait, or you could allocate some funds into different exchange accounts and run two bots at the same time.

Smaller time frame bots generally have higher drawdowns and lower accuracy per trade, so that’s something to keep in mind and why I personally prefer the 4hr.  But you can do what’s best for you based how much risk you’re comfortable with.


Bitcoin Will Change the World – How Much Will You Have Five Years from Now?

Strap in friends, shit’s about to get wild…

For anyone that believes long term in Bitcoin, this strategy is a no-brainer. Rather than just hodling, you gradually grow your BTC by having a sophisticated algorithm execute trades while you keep full control over your account. Even if you’re a professional, having an algorithm to complement your trading style will increase your gains and help you make better, less emotional, decisions. It also runs all the time, so you never have to worry about missing a trade.

The most successful hedge fund in history, Bridgewater Associates, uses an algorithm alongside their traders in every market they trade in and have said that using a data-centric approach like this one has been crucial to their success.

I still trade full-time and having the bot trade some of my funds simultaneously has made me a better trader because it checks your bias.


Check out the best cryptocurrency bots now… is where you can find out more about the bot and purchase your membership. Membership starts at $350 a month and there is a two week free trial so you can test it out before paying.

In my opinion though, this is the ideal tool and solution for anybody in crypto with a portfolio of 5k or more.


Additional crypto resources and notes

Here are some further notes worth reading over if you choose to utilize this info and start managing your portfolio with the crypto trading bot.

  • Use a good VPN whenever accessing your crypto exchange. It keeps your information safer than broadcasting it unfiltered. It will also prevent any ‘restricted location’ messages.
  • Get your API keys from your exchange and don’t keep them online. Two thumb drives is a great option (one as a backup). 
  • Cryptobotshub has a great automation service that comes with the Pro Crypto Bots purchase. This means an easy setup, and your bot is always trading 24/7, even if your computer is off.


Taxes (for US citizens)

Without getting too into the specifics here, taxes on crypto in the US are an absolute mess right now thanks to a draconian policy change by the IRS. Crypto-to-crypto trades are now treated as property transfers, which means that every single trade is a taxable event and must be reported. This might have something to do with why out of the estimated 5 million crypto holders in the US, only about 1,000 people filed taxes in 2018. There are steps you can take to not get killed by this policy.

What you can do – trade futures on Bitmex. It’s identical to trading bitcoin except that you are trading a financial derivative that is pegged to an exchange price for BTC instead of the real thing. This minor discrepancy matters. Since our elected officials are far more beholden to Wall Street than Main Street, this is reflected in the tax policy. 

Future trades are not treated as property transfers like crypto is, so all gains just go into your annual capital gains tax as if you were a rich banker on Wall Street. This tax rate is better than your regular income tax by about half. It’s a more than a little gross that a typical job is taxed at double what banks and institutions pay for paper profits that go to fuel their bonuses… But if you can’t beat them, join them.

PCB does have Bitmex functionality, so just make sure you use this option if you decide to have the bot trade your account.

Some exchanges have barred US users from access to protect themselves from US regulatory agencies, so you would have to work around that as well. For a solution to this problem, see the additional resources section above.





One more thing; this isn’t for everyone. You need some working capital first, and ideally a way to pay for the monthly usage fee that doesn’t come from your account so that it can compound (the longer the better!), and without you having to stress about the occasional drawdown. I’d suggest a minimum of $5k. If you’re not there yet, start saving and cut some expenses!  

I also suggest not touching your capital for at least two years, preferably five to ten. Think of it like a retirement account. Or better yet, a ‘someday quit your job and never look back’ account.

You aren’t charged by a percentage or account size so this advice is strictly for your own best interest.  



Will’s Disclaimer: I am not a professional (or even a veteran) trader. I am an intermediate trader with a passion for cryptocurrency. I am disclosing my own ventures in crypto because cryptocurrency trading does make up a chunk of my online income and I want to be 100% transparent with you when it comes to making money online. Investing in cryptocurrencies carries a risk – you may lose some or all of your investment. Always do your own research and draw your own conclusions. Again – this article is aimed purely at advising; draw your own conclusions on whether cryptocurrency trading and cryptocurrency trading bots are right for you.

Photo credit: A big thank you to The Man with No Name, for allowing us to use his awesome crypto artwork images.


  • Avatar Fracture says:

    I read your article last year and it started my trading journey led me to develop my own.Thank you

  • Avatar William Snel says:

    I was really against bitcoin at first until I decided to give it a try, Mark made me see the light in investing in bitcoin. I’m really glad I did because it changed my life.

  • Avatar Gabrielle says:

    If my crypto assets are trading on binance do I have to move my portfolio to Bitmex to be able to use the bots?

    • Avatar Chuck says:

      For now the bots only work on Bitmex because its the best option – most liquidity, can go long or short, and leverage available. Binance is working on a margin trading option that will allow bots to long/short on that exchange too, but so far its still in testing phase.

  • Avatar HP says:

    Hi Will,

    great article, thanks for the breakdown. Super useful for someone just getting into the cryptosphere.

    I’m keen to give a trading bot a try and the Pro Crypto Bot you refer to sounds good. I am still not sure how this all works. It seems like you need a trading account with Bitmex which is trading with futures. I have never even touched a trading platform other than Coinbase. Would you still recommend this to anyone who doesn’t have any trading experience yet?

    Would love your thoughts on this!

  • Avatar evenbrokerbackpacker says:

    What to do if you want to use a bot to trade but have only 2000 in crypto in your account?

  • Avatar lavell says:

    im ready to start with the cryptobots but i live in california and bitmex mentions prohibiting from holding
    positions or entering contracts if you live in the US , then i see something about trading futures on bitmex
    and i have no clue about futures , all i want to do is get into the cryptobots , is this possible ?
    If it is possible please tell me what to do. Lavell

    • Avatar Chuck says:

      Hi Lavell, trading futures just means that you can make money if price goes up OR down. That’s crucial to being profitable in a bear market. The bots and the automation platform will handle everything else. Please check out the ‘Additional Resources Section’ for an answer to your location question.

  • The massive increase in the popularity of cryptocurrency over the past year has led to a large interest in cryptocurrency trading bots.

    • Avatar Chuck says:

      Maybe you mean in 2017?

      • Avatar Ritchie says:

        We started crypto bots, the problem is lack of funds, and just minimal investors. We are thinking how to generate funds for payment. Can you recommend some strategies on how to grow our funds?

        • Avatar Chuck says:

          Hi Ritchie, in my opinion the best chance to grow your funds is to buy bitcoin. Especially now that it has entered a new bull market (not professional advice). Even if the professional bots are too expensive to be worth it for you now, buying and hodling is still an effective strategy!

  • Avatar joseph says:

    Good Stuff! Thanks for sharing! Do you mentor regarding the bot although it appears this article is all the mentoring one would need.

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