AI-Powered Crypto Trading Tools That Require No Coding Skills: A Comprehensive Review

As the cryptocurrency market continues to evolve, traders are increasingly using AI-driven tools to gain a competitive advantage. These tools range from automated trading bots that adapt to price movements to advanced systems that analyze social media for emerging trends, making sophisticated trading strategies accessible to everyone.

However, the vast array of AI-powered tools available can be daunting. To simplify the choices, we reviewed three user-friendly AI tools specifically designed for crypto trading.

Each review outlines how these plug-and-play platforms operate (no coding required), identifies the types of users that may find them beneficial, and highlights associated risks.

Stoic AI: Institutional-Level Strategies for Retail Investors

Stoic AI provides retail investors with high-quality crypto trading strategies that were previously limited to institutional investors. According to Stoic's strategy factsheet, the platform has been actively trading since 2017, handling billions in volume and managing over $200 million in assets for over 15,000 users.

Sasha Sasev, the head of product at Stoic AI, explained that Stoic differs from typical trading bots. “It's like hiring a quantitative trading team through an app,” Sasev said.

“Most crypto bots provide you with tools and say, 'configure them yourself.' Stoic allows users to simply select a pre-built strategy and link it to a crypto exchange,” he added.

Stoic's quantitative team relies on machine learning algorithms to create strategies. Each one is rigorously back-tested and forward-tested before being released to users.

Key Features of Stoic AI

Meta Strategy (Market-Neutral): This approach combines over 200 algorithms, maintaining a 50/50 long/short position to profit in both rising and falling markets, similar to hedge fund strategies. It limits maximum drawdowns to below 14% for those prioritizing stability.
Meta Long Only (Market-Driven): Involves over 100 algorithms that construct and regularly adjust a smart crypto index. It only takes bullish positions, making it ideal for those who believe in long-term crypto growth.
Fixed Income (USD Yield): Focuses on capturing Binance's funding rate arbitrage between spot and futures, generating a modest yield of 6-15% APY with minimal risk.
Bitcoin Yield: Utilizes a meta strategy with Bitcoin as collateral, allowing users to benefit from Bitcoin price appreciation along with additional returns. This is particularly beneficial for Bitcoin enthusiast investors.

Source: Stoic AI

Using Stoic AI

To start using Stoic AI, users must connect to a supported crypto exchange via an API, which includes popular options like Binance and Coinbase. Users do not give Stoic permission to withdraw funds; the algorithm operates on a permission basis to execute trades automatically around the clock while rebalancing either hourly or daily.

Who Should Use Stoic AI?

Stoic AI is best suited for:

Investors seeking systematic trading without the emotional turmoil.
Traders who are looking for institutional-quality strategies without the complexities.
Individuals looking for trading alternatives beyond merely holding Bitcoin (BTC) or Ethereum (ETH).

Key Risks

Sasev warned that unrealistic expectations are the primary risk associated with Stoic. Many traders believe that AI guarantees immediate profits. “Crypto can be volatile, and even the most sophisticated strategies will encounter losing periods. The key is to prioritize education and exercise patience,” he cautioned.

Botty: Simplified Trading for Everyone

Botty is a cryptocurrency trading platform that incorporates bots to help users refine their investing strategies. According to co-founder Alex Ostapovskyi, Botty doesn't solely depend on AI but uses precise algorithms that are easy to understand.

“Our bot functions round the clock without emotion or guesswork, adhering strictly to the user’s selected strategy,” Ostapovskyi explained. The algorithms used in Botty were crafted by professional traders and tested on over 30,000 users.

Botty features both spot and futures strategy templates while focusing on reputable cryptocurrencies like Bitcoin, Ethereum (ETH), and Solana (SOL).

Key Features of Botty

24/7 access to both spot and futures markets.
Ready-made and custom templates for a diverse range of users.
A demo trading mode for practice before committing real funds.
Detailed analytics for user activities.
Instant notifications via in-app alerts, email, or SMS for all bot actions.
A robust support system.
Learning resources to help users achieve success.
A community and referral program for networking.

Using Botty

To get started, users must connect their cryptocurrency exchange account to Botty. After that, they can either configure their trading bot manually or select a ready-made template to commence trading. All funds remain in the user's exchange account, as Botty employs an API that does not require withdrawal permissions.

Who Should Use Botty?

Botty is ideal for:

Beginners looking to engage in crypto trading without prior experience.
Experienced traders aiming to automate their trading strategies.

Source: Botty

Key Risks

Ostapovskyi pointed out that first-time users may struggle with fear and uncertainty surrounding trading bots and the risk of financial loss. To address this, Botty offers a demo mode with virtual funds, allowing users to observe how the platform operates.

“Leverage is capped at 5x to minimize excessive risk. Our goal isn't aggressive trading, but rather to achieve sustainable and secure returns,” he stated.

CryptoHopper: Connecting You to Automated Trading

Launched in 2017, CryptoHopper is another automated trading platform that connects to popular exchanges via API. Users can run trading bots, duplicate professional traders' strategies, backtest ideas, and manage their crypto portfolios efficiently.

How to Use CryptoHopper

Users can begin by signing up on CryptoHopper’s website where a free trial is initiated upon account creation. They then connect their preferred crypto account to begin trading. Those preferring to practice can opt for "Simulated Trading," allowing them to test strategies without using real money.

Key Features of CryptoHopper

Spot trading only; no support for futures or margin trading.
Users can build bots with customizable logic and employ various technical indicators.
A marketplace for signal trading and strategies.
Backtesting features for simulating strategies over historical data.

Who Should Use CryptoHopper?

CryptoHopper is a strong choice for:

Beginners due to its user-friendly design and supportive documentation.
Intermediate traders who want to create more complex bots and manage numerous open positions through paid plans.

Key Risks

When trying CryptoHopper for the first time, users should note that the platform does not support strategies that rely on leverage or derivatives. Additionally, users may encounter varying quality among signal providers, and backtesting results may not always align with real trading outcomes.

Key Takeaways and What’s Next

AI-powered tools are revolutionizing the crypto trading landscape, offering new opportunities for traders. However, the journey is not without challenges. Automated trading does not assure success, and users should remain realistic about their expectations.

Dr. Ben Goertzel, CEO at the Artificial Superintelligence Alliance, highlighted the unique challenges posed by algorithmic trading in such a rapidly changing market. He believes that as the industry evolves, the integration of Artificial General Intelligence (AGI) could further enhance the success of crypto trading approaches.

“AGI can adapt and generalize beyond its training, proving particularly valuable in a fast-paced domain like cryptocurrency,” Dr. Goertzel concluded.

As you consider engaging with AI tools for trading, remember to educate yourself, manage your expectations, and keep a mindful approach to your investments.