Over the past few years, cryptocurrency has managed to rattle the financial world because of its unpredictable and volatile profits that people gained by their crypto investments. This volatile market grabbed a lot of attention when the crypto market crashed in 2017.
After major losses, it was evident that the crypto trade market was very volatile. Ever since the crash, traders have been vigilant and have been forced to monitor the market at all times constantly. The value of any currency can drop and rise within seconds.
Since curating the crypto market is a tedious task, people started relying on agents and brokers who would watch the market on their behalf. But that too didn’t seem to have a positive response from investors. As a result, the geniuses at the tech industries came up with the concept of a cryptobot.
A cryptobot is nothing but a set of algorithms and software that continuously watches the crypto market and makes decisions on the user’s behalf to sell or buy their coins. This Gunbot review will help you gain some insight to a similar cryptocurrency robot that can help you earn a profit in the crypto world.
Cryptobots have gotten famous over the past few years, and have proven to be a great tool to navigate and take the correct decisions on the market for new and old traders. The convenience cryptobots provide is that no one has to constantly keep track of the market once you begin the trade. You can set certain instructions on the bot and can carry on with your daily routines without any hesitation.
Since cryptotrade is a volatile market, there come some limitations when humans try trading. For example, no trade broker or agent will sit online 24/7 and monitor the market for changes, before taking any decision to buy or sell, there will be a little hesitation involved.
So, if you really want to exploit the crypto market conditions, then a robot calculating risks and keeping a watch on the market is the best choice in today’s date.
But how do these bots really work? And is Gunbot a reliable option? In this Gunbot review, we will discuss its functions, advantages, disadvantages, and we will see how its features help users prevail confidently in the crypto market.
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What Is GunBot?
GunBot is a relatively new cryptocurrency trading bot that was developed by Gunther de Niro in 2016. This robot is a set of algorithms and software that are engineered to calculate the crypto trading market. In technical terminology, this is called a trading bot or a crypto trading bot. This set of algorithms helps make cryptocurrency transactions easy and profitable.
These crypto bots are developed and designed to help people catch up with the volatility of the crypto market. With this, you can trade on any exchange platform you feel comfortable with. This bot is structured in such a way that it helps you make the right decision, even though you might not see the risk coming your way. ‘
Ideally, when you see a currency drop, you will choose to sell it as soon as possible, but sometimes, the traded coin or currency might bounce back up and have a higher value. So, you might end up losing a good chance to earn a profit. And sometimes, the coin might just stay constant, thinking that this might keep it lying on your account, and all of a sudden it might plummet into a huge loss. These kinds of decisions require foresight, which the cryptobot has mastered.
So in such unpredictable conditions, the bot examines the history of the coin and other coins associated with it. So during this, the bot will take the appropriate decision for you and will help you gain a little profit or incur no loss at all.
Being new, GunBot is well equipped with all of the latest exchange platforms. It can perform exchanges on platforms like Binance, Poloniex, Benifex, Kraken, Bittrex, and Cryptopia. (But sadly, Cryptopia only works with the GunBot 4.0 version and its later updates).
Gunbot is all about strategies and calculated risks. The best thing about this bot is that like many other bots, you can form your own strategies and can implement them as you like. If you do not have enough experience with the bot, you are allowed to use popular strategies by famous traders and can customize your own based on their plans.
The sole purpose of the trading bot is to help you maximize your profits and minimize your losses as quickly as possible. Bollinger Bands, Step Gain, Ping Pong, Supergun, Gain, and 1000Trades are some of the most used strategies on GunBot.
One of the many advantages of online trading is that you are not limited to using one trading strategy. You can purchase coins with a strategy that works with the desired currency, and then once you want to sell it for a lower loss, you can utilize another strategy. You are also given the freedom to make your own strategies from scratch and are allowed to share it with other experienced online traders.
The procedure of using GunBot is very simple. All you need to do is connect your exchange’s API keys, then create or choose your desired trading strategy, then select the trading pairs of your choice, and then let the bot take cruise control of your trades. You are also given the option to code or backtest a strategy if you happen to have experience in the trading world.
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Gunbot Review: Top Features
In this GunBot review, we will take a dive into the features of this cryptobot. It sure has some exciting features.
1. Being new to the market, GunBot is well equipped with every trading feature there is. So accordingly, GunBot has features that suit all kinds of traders. It allows traders to exchange multiple times on a single installation. This means that you do not have to install the software, again and again, to exchange on different platforms.
2. The software is user-friendly and the interface is easy to use. So, even if you are new to the crypto trade, you can easily figure your way through it while getting all your queries sorted. It allows you to have an unlimited number of bot instances
3. Unlike most trading bots out there, this bot allows you to have an unending number of bot instances.
4. In GunBot all the software updates are totally free of cost. After an initial payment for the software, you will have free updates for life.
5. GunBot has one of the best trading strategies for crypto trade. It also has a ton of confirming indicators that give you a heads up on your coins’ gaining profits and losses. It also has several features like trailing, DCA, etc. You can create your own trading strategies and take inspiration from other popular strategies.
6. GunBot being a modern trading bot, is operable on all platforms. You can use it on your PC, laptop, and even your mobile. You can manage and customize your profile and strategies quickly whenever you feel like it. Just download the software or app once and use it as you like.
7. GunBot is associated with Telegram for its notifications, so whenever there is any activity on your profile, it will instantly inform you on all your devices.
8. With GunBot’s software you will perform well with margin trading and trading on-spot. You are also allowed to use the reverse trading option, which can help you gain during bear markets without investing more than you initially bought.
9. One of the best features of GunBot is that it lets you review native charts. This is a chart depiction of other bots’ performance as well as yours. So you know how well your bot is performing in the market. Also, CryptoSight Telegram, helps you look at detailed statistics on all your trades.
10. On its premium versions, you are allowed to use unlimited trading pairs and can perform transactions as you like.
11. You also have an option to get certain add-ons which can exponentially increase the functionality of your trade system. Trading View add-on is one such feature that allows you to make trades based on email alerts. Backtesting is another add-on which give almost all the options available on GunBot.
12. This may not be a feature, but GunBot has made sure that configuring and updating its software is very simple, and a single JSON configuration file can help you perform all of these functions.
GunBot sure does have a wide range of fancy features, but that is not new, every trading bot today has many flashy features that look really helpful but don’t provide a good output. So let us look at some of the advantages of GunBot.
Advantages of Gunbot
1. GunBot has support for many different exchanges like Binance, Bittrex, Kraken, Bitfinex, KuCoin, CEX.IO, Poloniex, Coinbase Pro, etc.
2. There are no restrictions on trading pairs in GunBot, so once you install it, you can use any and all active trading pairs on the platform.
3. One of the best things about GunBot is its trading strategies. These help new users to avoid one of the most difficult tasks of creating a new strategy. There are more than 15 options available on the website that can be easily used alone or combined as per the desire of the user.
Some of these strategies are Average Directional Index(ADX), Average True Range(ATR), Bollinger bands, Bollinger bands-crossover, EMA spread, Emotionless, Gain, Ichimoku, MACD, MACDH, PingPong, Step gain, SMA cross, Time-series Analysis, and Trailing stop.
4. As mentioned earlier, GunBot allows you to trade on multiple platforms. It works effortlessly on all major operating systems like Windows, Mac, Linux, etc.
Disadvantages of Gunbot
1. One of the major disadvantages GunBot users face is primarily due to the uncertainty of the crypto market. Even though there are plenty of software and algorithms on this bot, you can’t just rely on one strategy. You have to be flexible to use other strategies and must be up to date with the market and its news.
2. Sadly, rookies or new traders might find this bot a bit confusing. The trading strategy and setting up the software is a bit tedious. So, it is recommended that you do your research well before investing in GunBot.
3. Another disadvantage is that the entire software is way too technical. It has a strong build, and the hardware requirements are a bit annoying.
4. One more disadvantage is the fact that since the entire software is quite powerful, it requires a strong hardware. Once you install the software, you are sort of asked to purchase a virtual private server, but if you don’t use that private network, you might face some lag on your PC if you do not have a minimum of 4 GB of RAM and a quad-core processor.
Can We Really Make Money Out Of Gunbot?
So, profits gained from trading bots rely on the strategies you put into them. There is no single way that will help you with the volatile market. It is a big gambit and risk, but at the same time, the fruits you reap are marvelous.
Do remember that cryptocurrency is not a commodity like gold, which can be purchased and. Sometimes there are probabilities that the prices may not increase at all. You might also happen to lose your investment entirely if you hold on to your assets for too long.
Thus, you must have knowledge of the desired cryptocurrency before making any major investment with trading bots. So, yes, you can make money off of GunBot provided you make the right decisions and let the bot take the right actions.
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In this unpredictable world of cryptocurrency, trading is very risky and confusing. Entering into this world of volatility and risk can be stressful. But, it would be less stressful if you have a brilliant algorithmic bot on your side. Thus, start investing and venturing into the deeper depths of this trade market, and emerge with the pot of gold (profits) that you have always desired, with the help of GunBot.