Gunbot Review- Trade cryptocurrency without participating
The current cryptocurrency market is a place where most of the winners are people with a high attention module. If you don’t use a bot, like Gunbot for example, then forget about a normal sleeping habit. And, of course, there is also the matter of helping you out with your trading strategies, doing bids at a higher rate and what not..
If you are a person that values aid, though, I would suggest investing in a virtual helping hand. So, with that in mind, let’s talk a bit more about the specific trading bot of the day, Gunbot.
What is a trading bot, though?
Since the recent boom of the cryptocurrency online, people have tried to find many ways to make the process a bit more coherent. Especially since there are now tens of cryptocurrencies out there. While the virtual market tries to keep their values at a normal rate of buy/sale, the volatile nature of the decentralized system might be a bit of issue with some people to keep up.
Here is where a trading bot comes to the rescue.(just like Alfred, that poor, overworked, British, daddy figure). It is a program that can be configured to use a trade strategies to make bids automatically. So, if let’s say that if one day you want to buy a crypto coin at a lower price, but can’t at the desk to do that, you can set your bot to do it for you. And for it to wait until the price rises again for it to sell it back.
Gunbot, is it a good deal?
From all the information I managed to gather (and after using it for a few day), yap, it seems that way. One of the strong, positives things I can say about it is that’s legit. There are, unfortunately quite a few bots out there that are, well, scams. Either they don’t work, or are just masked malware, or they have hidden mining programs. All sorts of fun stuff that can make your blood just gush out of your ears.
So that was my first positive about it. In a broader way at looking at, we should start with a bit of background information.
Somewhere around 2016, in December, Gunthar De Niro (a Dunkaccino lover, who knows) launched the trading bot, Gunbot. He created the program with a really simple trading system in mind. Repeatedly buy currency for a small price and then sell when the price is high enough. The more interesting part comes into the options and customising bits of the application.
How does it work?
You can buy the trading bot from his official site, by choosing one of the three deal options. For every single one, though, you get one the following perks. Gunbot can trading by using any of the 36 strategies know on the market. (A few of them are- Bollinger Bands, Gain, Step Gain, PingPong, 1000Trades and Supergun). And you can even set it up for it to work interchangeable for different crypto coins.
For the time being, it can only work with Poloniex, Kraken, Binance, Cryptopia, Bittrex and Binance. So the strategies can only be applied for these ones only. (A bit of a bummer, and minues point from me, as it limits your options. Still, if the bot will get frequent updates, maybe we will see the list increase).
It also includes two types of interfaces, one being Crypto Sight, which allows you to monitor Gunbot’s actions. The second is Zeno GUI, which lets you interact with the charts, depending on your preferences. And it is compatible on the three major OS on the market, Linux, Windows and Mac. So there is no problem if you’re thinking that your device might not be able to handle it.
Let’s talk about deals and rates
As I mentioned, you have three options when it comes to buying the Gunbot, so here they are.
- Gunbot- XT- This gives access to the 36 strategies, available on all OS and for the cryptocoins mentioned, but only has Crypto Sight included and 1 exchange option. (Meaning that you chose only coin for a trade on an exchange site).
Costs- 0.056 Bitcoin (50% offer- Normal price- 0.112 Bitcoin)
- Gunbot-XT-All- An upgrade to the normal XT, it has all of the perks included in it, expect for two add-ins. First, instead of 1 exchange to get All exchange (you choose all of the coins for trade instead of just one). And you also get a TV extension, so that’s nice. Works for the some people.
Costs- 0.106 Bitcoin (70% offer- Normal price- 0.35 Bitcoin)
- Gunbot-XT-All + Zeno Single- As the name suggest, it’s the second option but you also the Zeno GUI interface included as well.
Costs- 0.129 Bitcoin (70% offer- Normal price- 0.38 Bitcoin)
The list also includes a couple of small offers, like the possibility of you getting the Crypto Sight and Zeno GUI separately, first for 0.006Bitcoin and the second for 0.029Bitcoin.
As the it stands at the moment, I suggest going for the Gunbot-XT-All, as you the All exchange option lets actually understand how much you can do with this bot. And if you are satisfied with it, then maybe change for the Zeno GUI choice as well.
If you search online for exchange bots, a phrase comes up every single time. Bots are a tool, not income generators. So it depends a lot on how you use and set them. And Gunbot is no different. You can lose money using any type of bot, either by system errors, putting erroneous commands or just by simply letting it do all the job. And they are also finite, but they depend on the coins they use for trade. Gunbot already has a restriction set for the moment Poloniex finite volume ends, so the creator is trying to add new algorithms into the system.
Just go into it by looking what exactly you want to do with it.