Humming Bot is open-source software that traders can use to build up their custom strategies. The code is written in Python and Cython and is used by 17.3k customers present in the community. We will review the algorithm service and see whether we can use it to create profitable systems in the market.
First Humming Bot quick summary
|The platform supports open-source code written in Python and Cython||Supports a limited number of functions|
|Available for a test drive for free||Pricing information is not mentioned on the website|
|Traders can develop an algorithm and connect it directly with one of the supported exchanges||The developer is not transparent on the|
|Traders can contact the developers through a contact form||There is no live chat available on the website|
|Supports both centralized and decentralized exchanges||The total number of exchanges connectors are limited|
|Ease of Investment:||3/5|
What is a Humming Bot?
The open-source bot-making platform went live on April 04, 2019, and is available on several popular platforms like Github and docker. It offers a command-line interface that helps configure, customize and run the expert advisors. There is support available for creating high-frequency trading algorithms from the inventory, API keys, and wallets.
How does Humming Bot generate profits?
Traders can use liquidity mining or create their algorithms with dedicated strategies to generate profits from the algorithm. It is possible to earn tokens as a reward for providing liquidity on the available instruments. For a sense of security, it is important to note that the company has no control over your assets.
Safety and security
Traders will have to set their password when they first log in to the platform, which is used to save the wallet and API keys. For the account’s safety, this key is not secured anywhere, and losing it would mean no access to your portfolio. While reopening the website, it is vital to enter your password once again.
How Humming Bot pricing works
Humming Bot is an open-source platform that can be customized according to traders’ will. It is possible to download and run it for free. Investors only have to pay the maker and taker fee, which incur from the exchange. There is no cap on position size from the humming bot administrators.
The platform supports over 30 exchanges, including Binance, Coinbase, Ethereum, and Terra. Traders can call their bots on these using a modular architecture for writing exchange connectors and strategies.
How long has Humming Bot been in business?
Humming Bot was launched on April 04, 2019, as a non-profit via the foundation program and for-profit through Coin Alpha Inc that supports the miner and pro versions. There are 68 members in the decentralized core team and John Wu as the advisor, with Rajiv Bhat as CEO and CoFounder. The platform is backed by BainCapital, initialized, Start, and many more.
How to get started with Humming Bot?
Traders can get started with the platform in the following steps:
- Build up your strategies and backtest them
- Connect them with your exchange using the API key
- The algorithm will start trading
Customer support is available by filling out a form on the website. There is also an option for contacting them through an email address. Unfortunately, there is no phone number or live chat present that could be utilized for instant access.
Humming Bot does offer an open-source platform that can help code your own system only if you have experience in programming. For beginners, it can be hard to understand the working methodology of the product as there are little to no user manuals available on the website.