by Coinbase is one of the most popular centralized crypto exchanges in the US. The company serves 98 million verified users and has clients from multiple countries. In 2023, the evaluation of the company reached an impressive $89 billion in 2022. Despite some setbacks related to the tightening of crypto regulations in the US, the company continues going strong. Over 8 million active users make at least 1 transaction per day.
The popularity of this platform makes it an important partner for many trading automation vendors. A retail trader using a Coinbase trading bot will be working with one of the most reliable and technologically advanced centralized exchanges in the industry. However, it is important to pick the right automation vendor and strategy to ensure the long-term success of your investment activities at Coinbase.
Reasons to use automation on Coinbase
Over 65% of all retail traders in the cryptocurrency market use automation to at least some degree. Almost all institutional investors like Fidelity Investments, BlackRock, and JPMorgan use bots to conduct nearly all their transactions on centralized exchanges. CEX platforms started recognizing this trend several years ago. Today, finding a centralized exchange that does not have a functional API is a challenging endeavor.
Coinbase has close to 100 million users with over 2 million users making dozens of transactions per day indicating a high degree of trading automation use on the platform. If you do not run bots, you put yourself at a significant disadvantage.
Some retail traders without prior exposure to the trading automation industry may wonder why people use bots in the first place.
Here are some advantages to using trading bots for cryptocurrency trading:
Coinbase users should look into using automation to stay ahead of the competition, trade as efficiently as possible and take advantage of the asset variety on the platform.
Picking a good trading bot for Coinbase
One of the biggest challenges that retail traders face when choosing an automation vendor is the oversaturation of the market. There are dozens of providers each with different product lineups and customer reviews of varying attitudes and content. Picking something that will work well for you is not as easy as it sounds.
However, you can find companies that stand out from the crowd by evaluating some of their qualities. Here are some important factors to examine:
Some important factors to consider are pricing, user experience, and customer support. However, you can definitely build a reliable automated trading system even if you have to wait until a technical support employee gets in touch with you or GUI is not as intuitive as it could be. On the other hand, having issues with service stability and product variety will most certainly cause issues down the line.
Top choices for a Coinbase Pro trading bot provider
There are several companies that can work with Coinbase and deliver a good customer experience. We believe that any of the platforms mentioned below deserve your attention equally.
Altrady — a good choice for Coinbase trading
This platform is a good provider of very specific automation products like DCA, GRID, and signal bots. However, it lacks advanced social trading features and may be not as intuitive as some other automation vendors.
Altrady focuses on delivering a smooth customer experience and often focuses too much on the visual design instead of building a more comprehensive UI. Nevertheless, it is a solid choice for retail traders working on Coinbase.
3Commas — a popular social trading app
This automation platform is famous for its extensive social trading functionality allowing users to search for traders to follow on forums and among power users. 3Commas can connect to Coinbase directly via API. You can use the feature set of the platform to build custom bots, but some experts believe that the platform is somewhat limiting when it comes to fine-tuning a trading system.
3Commas is an established brand in the trading automation industry and deserves your attention. However, if you are looking beyond using standard bots and social trading, keep looking!
WunderTrading — the best automation platform for Coinbase
One of the reasons why WunderTrading stands above its competition is due to its unmatched flexibility. The platform offers a wide range of analytical tools, a deep catalog of preset bots like DCA, GRID, and arbitrage as well as a diverse marketplace for copy trading.
Recently, the company introduced to the market its newest innovation — AI-driven statistical arbitrage bots that can work on Coinbase. It is a revolutionary product that uses machine learning to ensure great results. While still in its early form, this AI-assisted trading system is already an impressive feature that many other automation platforms lack.
