Gunbot Review

Bots for cryptocurrency trading have been on the rise lately. In 2016, this market recorded a daily trading volume of $1 billion. Fast forward to 20108, and the industry is now recording $10 billion in trading volume every 24 hours.

On the other hand, developers are responding to market needs by creating automated robots that can make the investor’s job easier. These bots execute orders on your behalf based on predetermined conditions that must be met in order for the trade to take place. A good example of such a robot is called Gunbot. This robot facilitates your work by performing a certain set of procedures set by the user.

So, in this review we will take apart Gubot and its features. If you find it an interesting bot worth using, you can sign up for a license.

Gunbot Review

Gunbot is an algorithm trading bot compatible with several major exchanges in the market. It uses several popular trading strategies such as ping pong, TSSL, and Ichimoku. The bot was created by a developer known as Gunther in 2016. The bot was created to be compatible with Windows and MaC operating systems, respectively.

The bot is compatible with 20 different exchanges. The reason it is popular is because of its various trading strategies that users like. We take a quick look at the trading strategies so you know what you should expect...

• TSSL is a trailing stop and stop limit strategy. It is the most preferred strategy for entering the market. It is also useful for selling coins. The best way to use this strategy is to set it up so that it buys coins when the price drops to a certain level. Another method of using TSSL is to set up the bot so that it can buy as soon as the price starts to gain momentum.
• Ping Pong – Gunbot believes that this is the most popular trading strategy for its robot. With the Ping Pong trading strategy, traders can set buy or sell orders depending on how much profit or loss they are willing to make.
• Bollinger Bands – If you have traded forex using indicators, you already know what the Bollinger Bands are. They are 3 strands which display prices over days, weeks or months. The Bollinger Bands basically plot prices based on average values. In addition to that, this tool will also inform you about the volatility of the coin.

How exactly does Gunbot work?

Gunbot is essentially a third-party application that pulls information from major cryptocurrency exchanges through an API. This means it can be used to access trading exchange services in addition to narrowing it down to individual cryptocurrencies that a trader might be interested in.

Since Gunbot is a premium robot, traders can buy investment plans in only three ways. In addition to that, the robot is quite easy to set up, so even the newest trader in the cryptocurrency market can get started with this robot without any problems.

The bot supports a number of cryptocurrency exchanges online. This is good news, because at least traders can use it on the exchange of their choice.

In addition, Gunbot allows traders to choose from a list of trading strategies available on the toolbar. The robot also allows you to pick trading pairs of your choice.

Once this data has been set, the robot allows traders to set buy and sell prices in addition to stop-loss and other parameters that are native to this trading application. It is important to note, however, that the bot can never withdraw funds from any exchange. This is a security mechanism that the developer of the bot put in place so that hackers cannot use the program to gain access to client funds. This is a real threat, and there have been cases where customer funds have been withdrawn through their bots without their consent. Fortunately, this is not possible with Gunbot.

If you use an exchange like Poloniex, the app will need your authorization to make trades and even display profits in the app. But when you need to withdraw funds from your Poloniex account, you will need to log in to your Poloniex account yourself to initiate that withdrawal.

Rates

We said at the beginning that this robot has 6 licenses. For 0.05 BTC you can use the robot on only one cryptocurrency exchange. This is a one-time payment. The developer will give you access to his telegram channel for support. That’s all.

The second plan requires payment of 0.095 BTC. And with this plan, traders can use 3 different exchanges in addition to Telegram support. There are no other add-ons to the service.

For 0.165BTC, traders can buy a lifetime license that supports trading on all exchanges, the TradingView feature, special support and the profit tracking feature. It’s important to note that with Tradingview you get a very good advantage because TradingView is a place where experts share their trading strategies and moves so the robot can copy them directly on your behalf. We find this feature very useful.

Is it safe to use Gunbot?

The fact is that any algorithmic trading can be both safe and risky at the same time. It depends on whether you are using a dangerous or safe bot to trade. If you want to know if a trading bot is safe, the first thing you need to think about is open source. If it’s open source, that means that developers can frequently check and fix problems as soon as they arise. With such a robot, you can fix bugs quickly.