TheCryptoBot.com (Gunbot) Review – Automatic Crypto Trading Bot

GunBot (TheCryptoBot.com) by Gunthar De Niro has become notably popular amongst the crypto trading community.

This informative GunBot review takes a look at all the pros and cons as we discover what the fuss is all about and if this software is really worth buying.

We encourage you to read our full GunBot review before purchasing the software in order to ensure you have all the details needed for a safe and enjoyable trading experience.

What Is GunBot & How Does It Work?

GunBot is an automated crypto trading software that works on Poloniex and other cryptocurrency exchanges. It was created by Gunthar De Niro with the first version being released in December 2016.

The bot is designed to buy and sell cryptocurrencies. It earns you a profit by repeatedly buying low and selling high.

The algorithm the GunBot uses can be applied to manual trading too. The advantage of using this software over manual trading however is being able to generate a profit 24/7.

GunBot works on the following exchanges: Binance, Binfinex, Poloniex, Bittrex, Cryptopia and Kraken. Cryptopia is only supported in version 4.0.1 or above.

This automatic crypto trading bot has numerous strategies built into it; they are Bollinger Bands, Gain, Step Gain, PingPong, 1000Trades and Supergun.

We did note that the creator Gunthar De Niro, has mentioned that the BB strategy is the better one to use.

Users also have the option of mixing these strategies when using either Poloniex, Bittrex or Kraken. For example, you can buy with BB and sell with PingPong, or you can buy with PingPong and sell with Gain.

GunBot aka TheCryptoBot Pricing

Gunbot has three different pricing plans depending on whether you wish to utilize more than one exchange.

  • 0.1 BTC – One Chosen Market – Lifetime Licence – One Time Payment – Run Unlimited Pairs(converted to roughly $400 at the time of writing this review).
  • 0.2 BTC – Any Two Markets – Lifetime Licence – One Time Payment – Run Unlimited Pairs(converted to roughly $800 at the time of writing this review).
  • 0.3 BTC – All Three Markets – Lifetime License – One Time Payment – Run Unlimited Pairs(Converted to roughly $1200 at the time of writing this review).

It is important to note that the GunBot licences will not be available forever.

For example, the Poloniex volume is finite, therefore, according to Gunthar’s well thought out calculations only a limited number of people can use Gunbot on Poloniex.

Unfortunately, if everyone starts to spam the order books with autobots, eventually as we have seen before with other programs who offer infinite copies, someone will land up with their software being stuck.

Luckily, Gunthar has already considered this and has come up with a solution to the problem. A new GunBot algorithm.

The next GunBot algorithm will be called Black Edition and will only be released once all the original licences are sold.

What we find interesting about this is that only traders with a bought GunBot license history will be able to buy a GunBot Black Edition license.

Any new traders will have to purchase an original GunBot license from a previous user.

If you already hold a licence, this immediately adds value to it, as over time as it can be traded or sold at the best possible price directly from you.

If you do not have a licence yet, you might want to consider getting one now.

GunBot Software Pros & Cons

Although the software is an automated trading bot, we consider it to be more of a trading aid.

After having a closer look, we found there are some minimum requirements a person needs to operate the CryptoBot successfully.

For example, it is preferable to have some experience in trading and know what you are doing before running this software, otherwise you could face potential losses.

Let us begin with the hardware requirements.

You can download the software and run it from your PC or you have the option of purchasing a VPS (Virtual Private Server) from one of their recommended suppliers or a VPS provider of your choice.

The service recommends purchasing a Contabo VPS Server & running it with Windows 10 or Linux for best performance.

The software works on Windows, Mac and Linux.Nix is also supported however; this is a NET & Node.js program so it is better to run it off Windows.

It is also recommended to choose a minimum 4 core and 4 gig RAM. GunBot is not a major CPU consumer though as it only takes 20k RAM for each currency pair you trade.

There are other minimum requirements that we need to mention in this GunBot review. To operate the software the user also needs to possess some basic skills.

The minimum requirements are listed below;

  • Basic Computer Skills
  • Basic File Editing Skills
  • The Logic of Market Trading
  • Understanding that this is an automation software for trading Cryptocurrencies and the user is required to configure the bot according to their needs and desired trades.
  • Understanding that GunBot does not make any predictions and does not make decisions for the trader – e.g. it does not choose which coin pairs to trade on its own.
  • Understanding that configuring GunBot is mandatory and falls in the hands of the user.

The user also needs to know and understand what the following terms mean; Bitcoin, Trading Cryptocurrencies, Coin-Pair, API Key, API Secret, Buy/Sell Price, Holding a Portfolio of Cryptographic Coins, Deposits & Withdrawals, VPS, Console/Terminal Window. If you do not understand the above terms or possess the requirements listed, then this software may not be suitable for you.

Additionally, because you are required to configure the software yourself after installing, if you are not experienced in various strategies it is recommended to leave each strategy in its default settings and just choose your currency pair and max balance to trade.

The pros of using this software come in the form of automated trading (once you have configured the bot) and allowing it to run 24/7 even while you are asleep.

This translates to a lot more possible profit than if you were manually trading which is naturally time restricted.

According to the extensive research we conducted for this GunBot review, the profits reported by users are in the 1% -3% daily range.

If left running 24/7 and market conditions are favorable, for example, there are no coin crashes then you are looking at an ROI of around 30% monthly.

This is a very decent profit.

Can You Lose Money With GunBot?

Yes!As mentioned, the CryptoBot is automated and gives you the freedom to change certain options, however, you need to know what you are doing.

There are some technical errors you should avoid in order to prevent losses.

For instance, if you use a stop limit to close to the coins daily variation.

There are also some common errors to avoid such as trading an unreliable or surging/dying coin, setting a margin to buy/sell to low/high or setting Max Latest prices to low.

How to Buy & Download GunBot Software

It is recommended to only buy licences from authorised resellers.

You can check their authority on the official Gunbot forum, Gunthy.org. GunBot runs via the API system on your chosen exchange.

Therefore, for example, if you are going with Poloniex, you will need your Poloniex API Key as this will also act as your licence key.

Important Note: There is a difference between your API Key and your API Secret Key – Do not share your API secret key with anyone.

Once you have done this, simply download GunBot and install it.

Before running the software for the first time remember to configure it.

Access to Poloniex is granted using your API keys and a direct call to Poloniex API.

Please note, It is mandatory to not enable the withdrawal feature on your Poloniex API pair. If GunBot detects an API pair with withdrawals enabled, it will disconnect and your GUNBOT license will be blocked.

More info on downloading, running and using the software for the first time can be found here.

Gunbot Review Conclusion

We conducted extensive research for this Gunbot review, including many hours of reading various forums, reviews, community feedback and videos.

Also taking into consideration the software maturity, we can safely and confidently say that this is by no means a scam.

GunBot has been proven time and again to not only function as it should but provide consistent profits as well.

For help with installing, setting up and using this software, see TheCryptoBot (GunBot) User Guide below.

There are other legitimate options available, such as the CryptoTrader, however GunBot seems to win in terms of price, customization and support.

Gunthar De Niro has proven to be a straight up guy who is always willing to answer any questions relating to the software or offer help in getting the program up and running.

This is something you will not find in any Ponzi/HYIP/Scam services.

There is no refund policy on the software, however, if for some reason you are unhappy with the performance of the CryptoBot, you can always sell your licence on the official Gunthy.org Forum.

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 Binance, BinfinexBittrex, 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.

Gunbot’s settings

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.

For any questions you may email us directly 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.

TheCryptoBot (GunBot) – Setup & User Guide

Ok, so you read about Gunbot, the automated cryptocurrency trader, which is an auto trading solution that actually works. You tracked it down, you were impressed by what you heard/read about it and you bought it. Now what do you do?Based on information provided by the official Gunbot site, thecryptobot.com, it is safe to assume that version 3.3.2 is currently a sort of “base” Gunbot version, though there are subsequent versions available, with extra features, such as support for an additional exchange: Cryptopia. Version 3.3.2 supports Bittrex, Poloniex and Kraken (one of them, two or all three – depending on the package you have opted for). Recently, they have also added Bitfinex, Cryptopia as well as our favorite exchange, Binance.

GunBot Download and Installation

The file you download from thecryptobot.com is a .zip one. Unzip it anywhere on your computer, then navigate to the folder where you have unzipped it and locate GUNBOT.EXE. Click on it.

The GUI (Graphical User Interface) version of Gunbot will present you with a screen, where you have to fill in certain settings. Since Gunbot makes no predictions or decisions for the user, these settings are what make or break your profitability. Some of the settings are “base” ones, required for the functioning of the app. Others are about the parameters which define the way the cryptobot will trade for you, what it will trade, and how it will perform the analysis, based on which it will make its moves.

Your first move is to effectively “link” your Gunbot to the markets you want to trade. For that, you will need your Poloniex, Kraken and/or Bittrex API key and secret key. These are provided by the exchanges, and you can pick them up at their respective websites.

Here’s a little something to keep in mind when creating your API keys: enable everything with the exception of Deposits/Withdrawals. This way, you’ll protect your account. Gunbot won’t make deposits/withdrawals anyway, but if your keys fall into the wrong hands, someone else might. With these settings though, Deposits and Withdrawals will be impossible to make. Also, try to keep your secret keys secret. That helps a lot, too.

Several such keys can be generated and used. Gunbot’s creators will gladly add additional keys to users’ licenses, after the delivery/installation of the software.

TheCryptoBot (GunBot) Settings

Once you’re done with the above, you need to set your coin pair and your market. The market has to be the one the API key of which you entered, obviously. The coin pair can be any of the scores of supported coin pairs, such as BTC/ETH or BTC/USDT. You need to respect the pair formats featured by each exchange, and that does not mean symbol-spelling. Gunbot has a pretty easy time with that: it will know what you mean whether you use BTC or XBT for Bitcoin, for instance.

The actual format means that one coin is the primary one and the other the secondary one in every pair. If you are looking to trade BTC/USDT for instance, at Poloniex, you will have to trade USDT/BTC instead, as that’s how they feature it. Also, with every pair, the first one is the primary and the second one is the altcoin/secondary. To trade USDT/BTC for instance, you will need to have a balance of USDT, otherwise it simply won’t work.

TheCryptoBot (GunBot) Trading Strategy

Once past the primary settings, it’s time to get down to Strategy.

Gunbot supports 4 trading strategies: Bollinger Bands, Ping Pong, Gain and Step Gain. You are free to use any of these strategies by itself, in which case you will simply enter the same strategy for BUY as you do for SELL. You can also combine them, the way you see fit.

For every strategy-type, you’ll have to enter some settings, to actually tell the bot how to put it to use. For BB for instance, you will have to set %Low and %High, which define the percentages above and below the Bollinger Bands, at which you want the bot to sell.

For the Gain strategy, you have to set the %GAIN, which defines the price level above your purchase price, at which you are willing to sell. The BUY level sets the price level below EMA at which you are willing to buy.

For the Ping Pong, you set the actual Buy and Sell prices. As for the Step Gain, you define a couple of buy and sell levels, as well as the levels you want to use for buy and sell orders.

Strategy-wise, community feedback points to a pure BB approach, which is supposed to be successful. Hit the Gunbot forums though for more profitable setting-combinations.

Experimenting with various strategy settings is fine. Just bear in mind that it is indeed easy to set up losing combos, and they will cost you real coin.

Obviously, the above described strategies are based on technical indicators. We have the Bollinger Bands, the EMA, and the trend watcher, and – if you know anything about technical analysis – you know that everything hinges on the time periods used for candlestick charting.

The good news is that with Gunbot, you can tweak all these parameters. Caution is yet again of the essence though, as messing up these settings will inevitably lead to erratic trading and losses.

For the Bollinger Bands, you can tweak the maximum number of latest prices used in the BB calculation. You can also limit the number of latest prices which are actually analyzed.

The EMA1 and EMA2 periods are set in hours, and they are used to calculate the latest EMA prices.

The candlestick period is set in minutes, and – as said above – the success of the whole analysis process rests on this variable.

The Bot Timing section has two settings: Time Delay Price and Bot on Fail Delay. This is where the API calls are limited. Essentially, the app is capable of making scores of calls per second. At Poloniex though – for example – the “speed limit” is 6 calls per second. Exceed that and you will be banned. Due to the close relationship between Gunbot’s creators and the exchanges, by abusing the API calls, you also risk having your Gunbot license suspended.

The Bot on Fail Delay tells Gunbot how many seconds to wait after a failed API call, before re-trying.

Once you’re finished with the above settings, you are required to save them, after which you are free to hit the “Start” button, to unleash your Gunbot upon the exchanges. A confirmation message shows up. Please note that the cryptobot will take some time to “get up to speed,” gathering all the data it needs to get down to trading.

Running the command line version of the bot may seem a tad daunting, but it’s quite simple really. You will have to add your settings directly in the code though. To do that, you have open the proper config.js file, edit it, and then save it. For the BTC/Dash pair at Poloniex for example, this file is called poloniex-BTC_DASH-config.js.

The code itself contains plenty of commentary from the creators, so when you are looking at it, you will actually find it pretty simple to make the required changes.

After you save your config.js, use a simple command line Gunbot start (for instance: C:\\>gunthy.exe BTC_DASH poloniex) to get things going.

You can repeat the settings process for every pair/market/strategy/individual setting you wish to put to the test/actually trade.

Hopefully, you are now able to set up and to start up your Gunbot. Remember that acquiring proven settings from someone more experienced is always easier and cheaper than going down the path of trial and error.

Please share any feedback or tips on how to use TheCryptoBot by commenting below!

2 Comments

  1. boblonely

    Good program! I have tested many trade bots, including Gunbot. I have faced several companies of fraud, such as cryptorobot365, it is necessary to be careful with them!

    I at last have found bibitbot.com, it is really good tool. Notices which can be adjusted as it is convenient to you, come to Telegram. Free 1 day of use, allows to make sure of operability of service and not to worry that it is deception. The choice for you

  2. Victor

    If anyone have questions about Gunbot? Feel free to contact me.

    /Victor @ gunbot.com

    Telegram: telegram.me/gunbotcom

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