What is Gunbot?
GunBot is an automated trading robot developed by Gunter de Niro. It is a piece of software which you can purchase and download. It will then conduct trades on your behalf on a range of exchanges. It can currently be used on 8 different exchanges with the goal of making trading a more efficient process.
How Does Gunbot Trade?
GunBot has the ability to both make money – depending on the type of trading. GunBot will only trade based on the data and strategy you select. It does not monitor the news and adjust its strategy over time because it has no access to view and adjust based on external data. It only acts based on the user inputs to determine its buy and sell activities. These can however be adjusted at any time.
GunBot can be installed on a range of operating systems including Windows, Linux, ARM and Mac while being compatible with 8 different exchanges including Poloniex, Bittrex, Kraken, Cryptopia, Bitfinex, Cex, Gdax and Binance. To use their software, you need to purchase the GunBot license – this is a one-off non-expiration product which will allow the bot to accept software updates.
GunBot can execute up to 8 pre-coded trading strategies which can be customized according to your trading preferences. It will then automatically buy and sell coins based on your preferences without any need for human interaction. Just sit back and occasionally check your balance – or if required adjust your strategy through new inputs.
It can run on your own machine or you can pay to have it hosted by a VPS. GunBot recommends Contabo. They promote this as a better option since it may reduce operational cost long-term. This also means your machine does not always have to be on. You will not depend on the speed and performance of your internet connection either. The action of trading is outsourced and runs on a remote device while the profits are sent back to you or tracked on either your mobile, desktop or tablet.
Bot Treading Versus Human Trading
The core difference between using a bot to trade versus trading independently is that the bot will trade based on logical criteria. A human however cannot trade without an emotional consideration. It is this ability to strip away the human factors that makes a bot a more appropriate trading tool. The bot can also trade around the clock.
Another factor which is missing in trading with a bot is aggregation. Aggregation is a factor typical of human trading. Where we research the market and continually update our strategy based on change – whether that be news reports, releases of new products/companies and even based on rumors. These things can have an impact on how well tokens will perform just as much as they can impact how a mainstream business performs. Ultimately a bot will only trade based on user inputs thus its performance is based on your knowledge on trading and your understanding of trading metrics.
Gunbot Packages and Cost
On their website they offer 12 different product packages. Each can be bought one-off for a bitcoin price. However, they do also accept Ethereum, Litecoin and Dash as payment methods which can be selected during the final payment process. Each product has independent characteristics and as such different cost levels. These can be viewed on their site directly.
There are other automatic trading bots out there, but GunBot seems to stand out. The advantage of trading bots is that they can enable people to have a means to generate passive income, and GunBot certainly exploits this advantage to the fullest, allowing you to operate with trading criteria of your choice. Just be aware of the implications of trading and make sure you know what you are doing before you set the bot to trade for you.