Gunbot Trading Bot Expert Guide

Gunbot is a crypto trading bot built with an emphasis on privacy, as it collects no data for your peace of mind. Learn more about this bot in our Gunbot guide.

  1. What is a Cryptocurrency Trading Bot?

  2. Why Crypto Trading Bots are So Helpful

  3. How to Choose the Right Crypto Trading Bot for You

  4. Advantages and Disadvantages of Crypto Trading Bots

  5. Gunbot: Everything You Need to Know

  6. What are Gunbot’s Key Features

  7. What are the Advantages and Disadvantages of Gunbot?

 

Cryptocurrency trading can be difficult. One of the main reasons for this is that the market never closes, unlike traditional stock markets. And that means both casual and experienced traders have to think about how they’ll handle this situation carefully.

Another key factor of crypto trading is the volatility. If you’ve already traded cryptocurrencies, you probably know how it feels to wake up and discover you’ve made substantial gains or losses while you were asleep. It can be tough.

This is why more traders are turning to trading bots, such as the Gunbot bot, to maintain control of trading in their sleep and counter the market’s volatility. Not sure what Gunbot is or how it works?

We’ll explore what bots like Gunbot are, how they work, and what the Gunbot bot offers in this guide.

What is a Cryptocurrency Trading Bot?

Crypto trading bots are software programs designed to help you take advantage of cutting-edge automation and get more out of using cryptocurrency exchanges. They’re capable of undertaking trading actions 24/7 — yes, even while you’re asleep.

As cryptocurrency trading bots offer exciting possibilities, traders are increasingly implementing them into their strategies. You can choose from an extensive selection of crypto trading bots, and that means it can be hard for newcomers to choose just one when they start. But you’ll find it much simpler by the time you reach the end of our Gunbot guide.

Why Crypto Trading Bots are So Helpful

Let’s be honest: trading cryptocurrencies can be incredibly emotional. But crypto trading bots take these emotions out of the equation, and enable investors to undertake trades according to a predetermined strategy.

Bots also allow you to keep your trading plan running round the clock. If you trade cryptos part time or you can’t keep track of market movements as often as you might like, the trading bots will help you to make efficient trades without spending hours and hours on market analysis each week.

How to Choose the Right Crypto Trading Bot for You

The following factors affect a trading bot’s quality:

Security

Never underestimate the power of effective security measures. Your bot has access to your currency, which can be dangerous if you’re using a bot of questionable reputation.

While there’s no way you can tell how secure a specific bot is without using it first, you can mitigate your risks by choosing a trading bot with a solid reputation for the quality of its security.

Reliability

It’s too easy to miss out on fantastic opportunities to trade if your bot ends up going offline for a while. That means reliability is a critical element of choosing a trading bot.

How can you determine how reliable a crypto trading bot is? Look at reviews written by other users and pick one that has consistently strong feedback.

User experience

The best cryptocurrency trading bots in 2020 are easy to use. If one bot makes the process of trading harder than it should be, then it’s a waste of time, especially for beginners. Look for bots that feature an intuitive interface, with simple controls (such as the Gunbot bot).

Transparency

One of the main reasons why cryptocurrencies stand so far apart from traditional currencies is their transparency — the entire network is completely transparent. This means there’s no space for any foul play to occur.

The best crypto trading bots available today work to similar standards.

Make sure you choose a trading bot developed by a reputable team: transparency is usually one sign of a trustworthy option and ensures you’ll be able to access help when you need it.

Profitability

There’s no point in using a trading bot if it fails to bring you satisfying returns. Look into the profitability of any bot you’re considering before you spend any money.

Advantages and Disadvantages of Crypto Trading Bots

Advantages

Lack of emotions

As crypto markets have high volatility and top players typically manipulate currencies, trading cryptocurrencies can be something of an emotional rollercoaster. Huge fluctuations in prices can leave you in a frustrated or nervous state, leading you to make orders you could regret later.

But trading bots lack human emotions and have no attachment to the money. They won’t be affected by changes in price or market manipulations at all.

Improved efficiency

Trading bots are capable of analyzing market conditions across various cryptocurrencies at the same time, executing trades whenever there’s room to generate a profit. They’re great at multitasking for long periods.

Humans, though, aren’t. You can only perform analysis on market conditions by looking into them one at a time, and you may miss opportunities with the potential for profit when you switch cryptocurrencies.

Bots’ superior multitasking capabilities make them more efficient at crypto trading than humans.

Boosted speed

Executing trades can be a time-consuming process, and any delays may prove expensive given the crypto market’s high volatility: golden trades can lose value if you take too long to execute them.

But as trading bots place orders immediately, they’re more effective at executing potentially-profitable trades than humans.

24/7 operation

You can’t stare at your monitor or laptop screen for days at a time. You have to eat, exercise, sleep, etc. But the cryptocurrency market will keep running while you rest. And you could miss out as a result.

But trading bots can run 24 hours a day, seven days a week, acting on opportunities you might not see.

Disadvantages

Poor match for unseasoned traders

Yes, crypto trading bots have the power to improve your trading capabilities, but you still need to have some awareness of what’s unfolding behind the scenes. Some trading bots include outstanding preset configurations but often fail to bring the maximum returns their users hope for.

If you attempt to adjust your bot’s configuration without understanding the technicalities of trading, you could face substantial losses. That’s why bots can be a poor choice for traders with no experience behind them.

Monitoring is necessary

Throughout periods of high volatility, cryptocurrency trading bots are often quite ineffective. That’s because they lack human emotion and have no attachment to funds, so may trade successive losses. This could generate big losses overall.

Security difficulties to consider

Cryptocurrency trading bots execute trades via integration with APIs (Application Programming Interfaces). As a result, both machines work hand in hand with no manual intervention.

Trading bots’ and exchanges’ centralized nature presents some risks. While hackers may avoid blockchains to their incredible security, they still go after systems dependent on central servers (such as exchanges). But machines that function independently, as with bots, are particularly simpler to hack.

But you can take the following steps to help defend against hacks:

  • Deactivate automated withdrawals

  • Don’t tell anyone else your API keys

  • Do your research into bots: they’re incredibly complex, so get up to speed on trading strategies, security measures, etc.

Now that we’ve looked at what trading bots are and their most important features, let’s look at one of the most popular available in 2020: the Gunbot trading bot.

Gunbot: Everything You Need to Know

Gunbot, also referred to as Gunthy, offers Windows, Linux, ARM, and Mac compatibility. It’s used by more than 6000 active traders, and it’s known for prioritizing user privacy.

This isn’t a cloud-based service: instead, you can simply install the Gunbot bot software on your device. It doesn’t collect any data relating to your usage, which can be reassuring when so many other programs gather data on every action we make online.

The latest version of Gunbot doesn’t demand much in the way of resources, and features have been added fairly frequently. Recent ones include Kraken forex trading pair support, full support for Binance futures, and an updated trading strategy.

It’s capable of running on older laptops or a Raspberry Pi if you have one. You can also make payments via Litecoin, Bitcoin, Dash, and Ethereum for your convenience. Gunbot is also capable of working on more than 100 supported exchanges.

What are Gunbot’s Key Features

Gunbot’s main features include:

Built-in trading strategies

A number of built-in trading strategies are included in Gunbot, such as Gain, Step Gain, Bollinger Bands, and Ping Pong. According to a large number of Gunbot’s users, Bollinger Bands is the most profitable of the strategies available.

Strong customization

Gunbot enables you to customize strategies to ensure they suit your trading style better.

Lite version option

You can take advantage of a Lite Gubot version, incorporating limited features for experimenting with lower amounts.

Platforms

Gunbot is designed to be compatible with many major crypto exchanges, such as:

  • Kraken

  • KuCoin

  • Bittrex

  • Binance

  • Hitbtc

  • Bitfinex

  • Cobinhood

  • Huobi

  • Bitmex

  • CEX.io

  • Coinbase Pro

  • Poloniex

  • Tradingview

Pricing Options

You can choose from multiple pricing options with Gunbot, depending on the type of features you expect to take advantage of. The following are correct at the time of writing.

Starter Edition (0.04 BTC)

  • Suitable for one exchange

  • Three trading strategies

  • Option to switch between exchanges at any time

  • Integration with Telegram

  • Chat and email support

  • 200 Gunthy tokens

Standard Edition (0.10 BTC)

Includes everything from the Starter Edition, as well as:

  • Access to every trading strategy

  • Cryptosight

  • 500 Gunthy tokens

  • Additional trailing

  • DCA (Dollar Cost Averaging)

  • Margin trading

  • AutoConfig

  • Reversal Trading

Pro Edition (0.15 BTC)

Includes everything from the Standard Edition, as well as:

  • Suitable for three exchanges

  • 750 Gunthy tokens

  • Backtesting add-on available

 

Ultimate Edition (0.25 BTC)

Includes everything from the Pro Edition, as well as:

  • Suitable for five exchanges

  • 120 Gunthy tokens

  • Tradingview add-on

What are the Advantages and Disadvantages of Gunbot?

Take the following pros and cons of Gunbot into consideration before you start using it:

Advantages

  • User-friendly interface for ease of use

  • A number of trading strategies available

  • Offers support for a wide range of well-known cryptocurrency exchanges

  • Multiple licenses offered

Disadvantages

  • Could be considered expensive

  • Some users report occasional bugs

As you can see, there’s lots to recommend Gunbot. So, if you’re on the lookout for a popular, well-respected crypto trading bot, Gunbot could be just what you need!