Are you tired of manually trading cryptocurrencies on exchanges? If so, you may be interested in GunBot, a popular trading bot that claims to automate the process for you.
But before you decide to invest in this software, it’s important to understand its features, benefits, and limitations.
In this GunBot review, we’ll take an in-depth look at the trading bot and help you decide whether it’s right for you.
Gunbot
Summary
Gunbot is an automated trading bot for DeFi and other popular exchanges like dYdX. It’s easy to set up and use and offers pre-configured strategies or the ability to create your own. The bot is highly customizable and offers unlimited bot instances. You only pay a one-time fee for the software, and all updates are free.
Gunbot Overview
GunBot is a trading bot that enables users to automate their cryptocurrency trades on popular exchanges such as Binance, BitMEX, Kraken, and other popular trading platforms.
The bot was created by Gunther De Niro and was first released in 2016. Since then, it has become one of the most popular trading bots in the market, with thousands of users worldwide.
It offers technical analysis indicators and trading options like spot, margin, and futures. Users can customize settings and execute multiple strategies simultaneously. The interface is user-friendly and provides real-time market data and signals.
It also Supports DeFi trading with dYdX, the best perpetual decentralized Exchange.
| Type | Gunbot Crypto Trading bot |
| Purpose | Automates Trading |
| Platform | Windows, Linux, Mac |
| Exchanges | Supports 32+ Cryptocurrency Exchanges |
| Trading Pairs | Unlimited Trading Pairs |
| Strategies | Multiple Trading Strategies (DCA, Grid, Reversal, etc.) |
| Backtesting | Yes |
| Support | Email, Chat, Community support |
| Price | Monthly plans (0.014 BTC, 0.025 BTC, 0.04 BTC) |
| JS Customization | Yes |
| Security | Two-Factor Authentication Available |
| Updates | Regular Software Updates |
How does GunBot Work?
Gunbot is an automated trading platform designed specifically for cryptocurrency users. It assists traders by implementing pre-determined trading strategies and rules, using a comprehensive list of exchanges.
Traders must install the Gunbot software and create an account by specifying login credentials, authenticating ownership, and entering API keys for each exchange. They can then select a cryptocurrency pair and configure the bot’s operation using a preset or custom strategy with specific parameters.
Once configured, Gunbot executes trades on the selected cryptocurrency pair within designated parameters across multiple exchanges. Gunbot’s privacy-centric architecture ensures that trading data is not collected or analyzed by third-party entities, guaranteeing the safety and confidentiality of sensitive data.
Related: Best Crypto Trading bots
GunBot Features Explained
Gunbot is a popular trading bot for cryptocurrency that offers several features to help users automate their trading strategies. Let’s take a closer look at each of its features:
1. Multiple Trading Strategies
Gunbot offers a range of different buy and sell methods, allowing users to choose the strategy that best suits their trading preferences. These methods include strategies like “emotionless,” “bb,” and “stepgain,” each with its own set of parameters that can be customized to fit specific market conditions.
With Gunbot, traders can select from a range of pre-defined trading strategies or create their own custom strategies using the bot’s user-friendly interface. These strategies can be based on technical indicators, price action patterns, market trends, or a combination of different factors.
Traders can set different parameters for each strategy, such as the size of the order, the take profit and stop loss levels, and the conditions for entering and exiting trades. Gunbot will then execute trades based on the selected strategies, continuously monitoring the market and adjusting the orders as needed.
For example, they can use one strategy to take advantage of short-term price fluctuations while using another strategy to hold onto long-term positions.
2. Supports Unlimited Crypto Pairs
With Gunbot, traders can set up an unlimited number of trading pairs, enabling them to diversify their portfolios and take advantage of different market opportunities.
This feature is particularly useful for traders who want to spread their risk across multiple coins and tokens.
3. DCA Trading Bots
DCA trading bots work by automatically buying a fixed amount of cryptocurrency at regular intervals, regardless of the market conditions. With DCA trading bots, traders can set the frequency and amount of their purchases, as well as the cryptocurrency they want to buy.
The bot will then execute the orders automatically, helping traders to accumulate cryptocurrency over time and reduce their exposure to market fluctuations.
4. Reversal Trading Bot
Reversal trading bots work by identifying market trends and trading against them. When the market is overbought, the bot will sell cryptocurrency, and when the market is oversold, the bot will buy cryptocurrency.
This strategy is based on the principle that markets tend to revert to their mean over time, and that extreme market conditions are often followed by a reversal.
With reversal trading bots, traders can set different parameters, such as the threshold for overbought and oversold conditions, the size of the orders, and the stop-loss and take-profit levels.
5. Grid Bot
Grid Bot works by placing a grid of buy and sell orders at regular intervals above and below the current market price. As the price of the cryptocurrency fluctuates, the bot will execute trades automatically, buying at lower prices and selling at higher prices.
Traders can set different parameters for the Grid Bot, such as the size of the price range, the number of buy and sell orders, and the order size. This allows them to customize the strategy to their own preferences and risk tolerance.
6. GunBot Historical Data Backtesting
Gunbot also provides a backtesting add-on, which allows traders to test their strategies on historical market data. This feature can help traders refine their strategies and identify potential flaws before committing real money to the trade.
To use the Historical Data Backtesting feature, you simply need to select the market and time period you want to test, and then set the parameters for your trading strategy. You can then run the simulation and see the results of your strategy in action, including the number of trades executed, the profit and loss figures, and other key metrics.
7. Connect to Telegram
Gunbot integrates with Telegram, a popular messaging app, allowing traders to receive trade notifications, updates, and alerts directly on their mobile devices.
This feature enables traders to stay up to date with their trades and make quick decisions in response to market movements.
8. Gunbot Custom JS Strategies
Gunbot offers users the ability to create their own custom trading strategies using JavaScript. This feature is called Custom JS Strategies and it allows users to fully customize their trading bot’s behavior based on their individual preferences.
Custom JS Strategies offer a high level of flexibility, allowing users to create complex strategies that can take into account a wide range of indicators and signals. Users can also use external data sources to inform their strategies, including social media sentiment analysis, news articles, and more.
Creating a custom JS strategy involves writing JavaScript code that specifies the bot’s behavior. Users can leverage Gunbot’s pre-built indicator library to include technical indicators such as moving averages, Bollinger Bands, and more.
Read: What is a Crypto Trading bot and how does it work?
Gunbot Supported Exchanges
Here’s a list of exchanges currently supported by Gunbot:
- Binance
- Binance Futures
- Binance US
- Bitfinex
- BitMEX
- Bitstamp
- Bittrex
- Cex.io
- Coinbase Pro
- Deribit
- Huobi
- Kraken
- KuCoin
- OKEx
- Poloniex
Gunbot Pricing and Cost
Gunbot offers several pricing plans, which vary in price depending on the number of trading strategies you want to use and the level of support you require. The plans include:
- Trial – Free for 3 days: This plan includes one trading strategy and basic support.
- Standard – €0.014 BTC per month: This plan includes 1 Exchange and All strategies
- Pro – €0.025 BTC per month: This plan includes 3 Exchange integration, advanced features, and premium support.
- Ultimate – €0.04 BTC per month: This plan includes all features and unlimited trading strategies, as well as priority support.
Gunbot Security measures
- It uses Two-Factor Authentication and API Key Encryption to secure user accounts.
- Gunbot’s cloud infrastructure is secure and protected by advanced security protocols and encryption.
- The Platform does not require withdrawal permissions for your exchange accounts, providing an extra layer of security.
- It regularly releases updates and security patches to address any potential vulnerabilities or security issues.
- The bot does not store or require access to your private keys, reducing the risk of unauthorized access or theft.
Customer Services
Gunbot provides customer support to its users, which includes a knowledge base, email support, and a community forum. The level of support varies depending on the pricing plan you choose, with higher-priced plans offering more advanced support options.
Overall, Gunbot strives to provide responsive and helpful customer support to assist its users with any questions or issues they may encounter while using the trading bots.
On Trustpilot, Gunbot has a rating of 4.5 out of 5 stars, based on over 50 reviews. Customers have praised the platform for its ease of use, customer support, and profitability, with many stating that they have seen positive returns on their investments.
Alternatives and Comparison
| Exchange | Exchanges support | Trading Fees | Rating | Review |
|---|---|---|---|---|
| KuCoin | Built-in exchange | 0.1% | 4.6/5 | KuCoin Review |
| 3Commas | 25+ | Monthly plans | 4.5/5 | 3commas Review |
| Pionex | Built-in exchange | 0.05% | 4.4/5 | Pionex Review |
| Cryptohopper | 20+ | Monthly plans | 4/5 | Cryptohopper Review |
Is Gunbot good for Beginners?
Gunbot offers a user-friendly interface that makes it easy for traders to set up and customize their trading strategies. The interface is clean and intuitive, with clearly labeled menus and settings that are easy to navigate.
When you first log into the Gunbot dashboard, you’ll see an overview of your trading activity, including your current balance, open orders, and recent trades. From here, you can access the various trading strategies and configure them to your liking.
Each trading strategy has its own menu, where you can set different parameters such as the size of the orders, the number of trades to execute, and the price range. You can also view the performance of your strategy in real time, with detailed charts and graphs that show your profit and loss, as well as other key metrics.
Final Thoughts: Is Gunbot Worth it?
Gunbot is a popular trading bot that offers a variety of features and customization options to help users optimize their trading strategies. It’s multiple trading strategies, including DCA and reversal trading, provide flexibility for users with different risk profiles and trading styles.
Its historical data backtesting feature allows users to test their strategies before implementing them, providing valuable insights into potential profitability and risk. The platform’s grid bot feature, which uses a grid-based trading strategy, is also a popular option among users.
Gunbot supports a wide range of exchanges and offers competitive pricing plans with different levels of features and support options. Its security measures, including two-factor authentication and API key encryption, provide peace of mind to users concerned about the safety of their accounts and assets.
