GunBot Review - Gunbot.com
Many cryptocurrency traders are turning to automated trading bots in an effort to increase their profits. Improving accuracy and making winning trades is the key to success, but outguessing the market can be difficult even for experienced traders. Gunbot is one of the most popular trading bots on the market. Here is an in-depth review of Gunbot and what you can expect from this trading tool.
Gunbot was created by Gunther De Niro and first launched in 2016. As such, it is one of the older cryptocurrency trading bots on the market today which has proven itself over a few years. Gunbot is software for trading cryptocurrencies on major crypto exchanges such as Coinbase Pro and Kraken.
The principle behind Gunbot is the same that drives other trading bots. It utilizes a computer algorithm that is designed to improve the accuracy of your crypto trades. Gunbot uses APIs to draw relevant data about the cryptocurrencies of your choice. This data is then analyzed to produce trading signals which trigger a trade. The bot features several popular built-in trading strategies such as Ichimoku, Ping-Pong, and TSSL.
Most major cryptocurrency exchanges provide APIs. The APIs allow Gunbot to trade Bitcoin against other cryptocurrencies. Many technical tools are incorporated into the bot. These include Bollinger Bands which can be used to predict price movements in the market. Specifically, high and low ranges are used by Gunbot to signal trades.
All cryptocurrency trading bots have one main goal. They are designed to buy and sell crypto autonomously without the need for third-party involvement. Trading bots are not perfect, but for some traders they do offer significant advantages and the chance to make a larger profit from trades. The theory is that bots remove emotion from trading and minimize the possibility of human error.
Gunbot is able to trade cryptocurrencies for you 24/7, even while you are asleep. This is an advantage because the crypto markets are open and changing 24 hours each day, 365 days a year. Using a bot helps to minimize the chance that you will miss important trading opportunities.
Now. Let’s take a look at some of the features that make Gunbot a good choice when it comes to crypto trading bots.
Gunbot works on many different crypto exchanges. This is one of the first considerations that any trader should give to a bot before choosing it as their trading tool. Some of the exchanges that are compatible with Gunbot include:
Another impressive feature of this trading bot is that it can work with more than one exchange at a time. This is limited to a few exchanges. Simultaneous trading is not enabled for all exchanges.
The bot supports the trading of:
It is worth noting that this trading bot is under continuous development. The developers are always looking to add more digital tokens to the mix so that traders can take advantage of more opportunities.
The presence of built-in trading strategies are another reason that many traders prefer Gunbot over other trading bots. There are options for using generic strategies like Gain as well as specific strategies like Bollinger Bands. Traders can choose to rely on one predetermined technical indicator or they can customize the bot to use several. This type of flexibility is something all active traders appreciate.
An easy to use interface and platform is something else that is a hallmark of Gunbot. The beginner could manage operation of the bot in a very short period of time. Chalk up a lot of this ease to the pre-defined trading strategies that we mentioned. As one learns they can increase level of customizations. In that sense, Gunbot is ever evolving with the trader.
A few impressive add-ons such as Crypto Slight will also help the trader to analyze their trading efforts and tweak the bot for even greater success. More than 2,000 traders are currently using the bot and there is a very active forum to help traders with any questions that they may have.
Finally, we love the fact that Gunbot offers lifetime access with the payment of one simple fee. This is different from the subscription based model that is used by many other bot developers.
GunBot Pricing and Plans
We’re not going to try and sugarcoat this section of our Gunbot review. This bot is pricey. Furthermore, payment for the bot is accepted and calculated in Bitcoin. So, the more Bitcoin rises in value the more the bot is going to cost. With that being said, you get what you pay for when you buy a trading bot.
Gunbot offers three types of purchase plans and three add-on packs. These are meant to appeal to the widest range of traders, from those with very little experience to those who really know what they are doing.
Gunbot Standard is the entry level trading bot package. It is priced at 0.050 Bitcoin. This includes a lifetime license with no subscription. Future updates to the software are provided free of charge. The downside of this package is that it does not support the use of add-ons, and traders are limited to trading on one cryptocurrency exchange at a time.
Gunbot Pro costs a one-time payment of 0.075 Bitcoin and also includes all future updates to the software. This version will allow you to trade on up to three exchanges at the same time and also supports backtesting of your cryptocurrency trades. No add-ons are included.
Gunbot Ultimate is for the serious and experienced Bitcoin trader. It costs 0.125 Bitcoin and will provide you will all the bells and whistles Gunbot has to offer. You’ll get to trade on up to five exchanges at the same time, enjoy premium support, and receive valuable add-ons like Trading View.
Gunbot Starter, Gunbot Settings Pack, and Premium Support are the three add-on packages that the developer sells. These can be useful if you plan on using the trading bot extensively to trade Bitcoin and other digital tokens.
GunBot Pros & Cons
- Can be customized by the trader
- Consistent trades with high win rates
- User freedom
- Many options and add-ons
- Can be buggy
- Profit margins on some trades are low
- Only trades one cryptocurrency against another, not the USD
Our View of GunBot
When compared with the other cryptocurrency trading bots on the market there is a lot to like with Gunbot. It offers up multiple levels of customization, pre-built trading strategies, and advanced features like setting stop losses. We also like that users only have to pay one time for a lifetime license to use the software.
It would be nice to see the bot offered for the USD instead of for Bitcoin, but you can also choose to purchase the bot when the value of Bitcoin is low. Some users have complained that their version of the bot can be buggy, but Gunbot offers some high-end customer service to help users with any issues they may encounter. Premium support will cost you, though.
This is a good starting point for individuals that are new to bots and want to see if they are profitable for trading. It is user-friendly and does all the major work of cryptocurrency trading.