TheCryptoBot.com has released a cryptocurrency trading robot called GunBot. Find out how it works today in our review.
What is GunBot?
GunBot describes itself as a “profit generator” that will “automate crypto trading” on exchanges like Cryptopia, Bittrex, Poloniex, and Kraken. You buy GunBot for 0.1 to 0.3 BTC (one-time payment), then allow it to automatically make trades on your behalf.
The bot is listed on THeCryptoBot.com, which currently has two products listed for sale. The first is GunBot, and the other is the GunBot TradingView Addon.
Obviously, we’ve seen a lot of automatic cryptocurrency trading scams appear over the years. Many of these robots promise enormous profits with no work. However, when you actually start running the robots, they rarely make the types of profits they promised.
Is GunBot yet another over-hyped cryptocurrency trading robot? Or is this a legitimate investment opportunity? Let’s take a closer look at how it works.
How Does GunBot Work?
GunBot works in a similar way to other automatic trading programs. You get your API key (your license key) after purchasing the program from the official website. Then, you download the GunBot software and run it. GunBot supports PC, Mac, and Linux.
The software is free for anyone to download. You’ll just need a license key to activate it. You can view the software online at Github here.
After you’ve downloaded and activated your software, you can adjust your trading strategies. You set the pair (like BTC/ETH, for example), set the amount you wish to trade, then choose your buy/sell strategy. Once you’ve completed the setup, the software will begin to make trades on your behalf.
You can run GunBot from your own computer or laptop. The developers recommend buying a VPS as well, although it’s not required.
After setup is complete, the next step is to “let the money come to you.” All you need to do is check your configuration settings from time to time.
GunBot advertises all of the following features:
- Onetime payment gets you a lifetime license
- Works on major exchanges like Poloniex, Kraken, and Bittrex
- Supports Windows, Linux, and Mac
- Active community and support system (2,000+ active GunBot traders)
- Multiple buy and sell strategies, including Bollinger Band, Gain, Step Gain, and others
GunBot is officially available for Mac, PC, and Linux. However, Mac and Linux users can only run the command line version of the software – so it works best for Windows, especially if you only have basic computer skills.
GunBot Trading Strategies and Settings
When you load GunBot, you’ll notice a number of different settings available. Here are some of the settings you’ll want to configure before you start trading:
Currency Pair: Type the symbol for the currency pair you wish to trade.
Margin to Sell: If the price of an altcoin increases by a certain percentage point, then you can tell GunBot to automatically sell. Type that percentage into this setting.
Margin to Buy: When the price of an altcoin decreases by a certain percentage, then you can tell GunBot to buy.
Security Margin: Sell all your altcoin balances if the value decreases by X% after you bought it. Put that percentage into this setting.
Max Latest Prices: Limit of latest prices to analyze when deciding if the price is growing and falling. For example, the software can monitor the last 100 prices and last 100 variations in the price of BTC/altcoin.
Time Delay Price: Time in seconds to verify margin price if the trade is frozen. If you put this number below 20, then you could be banned from exchanges.
Minimum Volume: Minimum 24h volume required to determine if it’s a good currency to trade.
Minimum Variation: The daily variation needed before you start monitoring a currency through the software.
EMA1/EMA2 Period: These are the two core indicators of the GunBot algorithm. You can use these indicators to set the number of trades per day.
Candlesticks Period: You can set candlestick periods to 5, 15, 30, 60, or whatever you choose.
Trading Style: Aggressive trading style means more trades per day, while moderate means fewer trades per day.
Once you’ve set all these settings, you can click the “Start GunBot” button to begin.
GunBot offers three different packages. All three packages are lifetime subscriptions. You buy today, and get a license for life. Here’s how the pricing breaks down:
- One Market: 0.1 BTC
- Two Markets: 0.2 BTC
- Three Markets: 0.3 BTC
GunBot supports Poloniex, Bittrex, and Kraken. When you buy the 0.3 BTC package, you’re getting all three supported markets. Otherwise, with the 0.1 BTC package, you’re just getting one market.
All packages come with lifetime upgrades and lifetime customer support.
GunBot doesn’t seem to have a refund policy. However, they do have an active community at Gunthy.org, where you can buy and sell second-hand licenses. So if you decide GunBot isn’t for you, then you can still get value from your license key.
Who’s Behind GunBot?
GunBot was made by a developer named Gunthar DeNiro, also known simply as “Gun”.
Gun first announced GunBot in December 2016 with a post on BitcoinTalk.org. He calls his development studio “GuntharLab”.
GunBot isn’t a scam. It’s genuine automatic trading software available for major bitcoin exchanges. It’s also priced competitively, assuming you’re going to use it for more than a year or two. Instead of a monthly subscription fee, GunBot charges a one-time fee for a lifetime license.
The software is available for Windows, although you can also access it via command line on Linux and Mac.
Overall, GunBot isn’t for totally newbie traders who know nothing about cryptocurrency trading. You’ll still need to configure settings, understand trading strategies, and monitor trading activity. However, once it’s all setup, you can allow the software to make trades on your behalf with limited interference.
To learn more about GunBot and how the software works, visit online today at TheCryptoBot.com.