If you know us, you know that we have a sort of natural aversion towards auto-trading, on account of the countless scams tied to this vertical, that we have reviewed over the years. Gunbot is different though. It is an auto-trader indeed, but it is a down-to-earth one. It does not promise anything that’s too good to be true, and everything about its pitch is as real is it could possibly be.
Thecryptobot.com, the official Gunbot site, makes it very clear that Gunbot does not make predictions and it does not make decisions on its own. It simply executes a trading strategy based on the settings input by the user, and it does so perfectly and without emotion. That’s all it is really. An automated Bitcoin trading solution, which has the ability to perfectly execute the required strategy 24/7. Its overall profitability depends entirely on the settings input by the trader. In this regard, it is like a sort of agricultural machinery: it simply automates manual labor, doing it better and at much larger volumes than one would be able to handle manually.
As such, this type of crypto auto trading can indeed be very profitable. There’s a massive and very involved community built up around Gunbot, and there are scores of sources available for quality settings too.
What exactly does Gunbot do?
As a Bitcoin auto trader, Gunbot works with a number of selected cryptocurrency exchanges. It currently supports Bittrex, Kraken, Poloniex and even Cryptopia. There are several Gunbot versions available, some of which are command line only, while others come with GUIs. The Cryptopia exchange is only available in versions 4.0.1 and above.
Once the user integrates Gunbot with the exchange(s) of his/her choice, sets the trading parameters (including the coin-pair) and the strategy, the software gets to work and begins trading according to those settings. All the user has to do from this point on, is to check on it every now and then, and to possibly tweak the settings if he/she comes across something more promising in this regard.
How do you acquire Gunbot?
The main product peddled at thecryptorobot.com is obviously the cryptobot itself. It comes in three option-packages, which cost progressively more, and support progressively more markets (exchanges).
The base version costs 0.1 BTC and it supports a single exchange, (from the Bittrex, Poloniex, Kraken bunch), allowing users to run crypto auto trading on an unlimited number of coin pairs (like BTC/USDT or BTC/ETH).
The 0.2 Bitcoin package is more or less the same. It however grants users access to two markets instead of just one.
The most expensive option costs 0.3 BTC and it lets users trade on all three of the above named exchanges. It has to be stressed that with every one of these purchases, the users are buying a lifetime license for Gunbot.
In addition to the cryptotrader itself, the Gunbot site sells a number of complementary apps too, aimed at making its use easier and hopefully more profitable. They have a TradingView Addon on sale, together with a Web GUI. There is also a live training and support option, an Arbitrage Bot and a 5 Config Combo pack available.
The Gunbot software can be downloaded directly from the official site, in Windows as well as Linux and Mac versions. The base version of the crypto auto trader seems to be version 3.3.2 right now, though subsequent versions are indeed out and available.
Like every proper auto trading solution out there (including MT4’s EAs), this cryptocurrency trading robot works best with a VPS (Virtual Private Server). Downtimes and interruptions are completely eliminated this way, and those using such an option are actually able to run their Gunbots 24/7, without having to turn on their own computers. A minimum of 4 cores and 4 gigs of RAM are recommended for the VPS angle.
The Advantages of Proper Crypto Auto Trading
This cryptobot gives you the ability to make cryptocoin even as you sleep. Above and beyond that though, Gunbot gives you access to:
- A prolific and active community, which currently comprises more than 2,000 users.
- Windows/Linux/Mac compatibility.
- Several buy/sell strategies
- Lifetime license.
- Free trading advice from the senior consultants of the operation, available through the gunthy.org forum.
With this cryptobot, the settings make or break one’s profitability. With the GUI versions, the settings are as easy to apply as filling out a form. With the versions that do not support a GUI for whatever reason, users have to access the various config.js files associated with every one of the supported coin pairs (an example would be poloniex-BTC_ETH-config.js. All the settings can be tampered with directly in the code, and the file can then be saved. All one has to do then is to run the cryptobot for the given pair, and then repeat the whole process for a different pair.
What exactly do these settings translate to though? The first thing is to add one’s API and Secret keys, after which the market can be selected. This is very important: when generating the said keys at Poloniex, Bittrex or Kraken, you have to enable everything, with the exception of Deposit and Withdrawal. This is how you make sure no one will be able to steal your coins, but obviously, keeping the keys a secret is always a good idea too.
The currency pair settings and the market settings are self-explanatory. The first one is the base coin and the second one is the altcoin (which can indeed be BTC too, in case of a USDT/BTC setup). You need to have a balance in the base coin.
The strategies supported are Bollinger Bands, Gain, Step Gain and Ping Pong. They can all be used in a pure form (using the same strategy for BUY and SELL) or they can be mixed up.
Each strategy comes with its own set of parameters that need to be added. For BB for instance, we have %Low BB and %High BB. The Balance settings allow for the setting of the amount of primary coin to be used for each trade and for the setting of a sell-all threshold.
Indicator settings can be tampered with as well, right down to the time-frame. Bot timing sets up the delay between requests.
TheCryptoBot Review Conclusion
There is no doubt regarding the capabilities of Gunbot, provided the right settings are used. The community loves it, and there’s a tremendous amount of support for users, in the shape of technical pointers as well as profitable settings-packages.
Review Verdict: TheCryptoBot is NOT a scam!
Whitelisted Sites: TheCryptoBot.com & Gunthy.org
For help with how to download, install and use this software, check out this GunBot User Guide.
For any questions you may email us directly at BinaryoptionsWatchdog@gmail.com or comment below with any feedback and we’ll get back to you as soon as possible. Thank you for taking a moment to read our honest review.
Read about TheCryptoBot also on ScamBitcoin.com!