Zenbot gives crypto traders the chance to carry out trades automatically. Since the system is open-source, the user can manage, adjust, or revise it to meet their requirements. So, developers cum traders who want to create interfaces based on natural language may find this tool useful. The bot should never be left unregulated for long as it may continue running even when excessive losses occur.
First Zenbot quick summary
|Ease of investment||4/5|
What is Zenbot?
Zenbot is a command-line crypto trading tool that runs on MongoDB and Node.js. It is powered by computer algorithms that scan the crypto markets for trading opportunities. The bot is open-source and can be derived directly from Github. It relies on the technical-analysis-based trading approach, which entails studying how prices in the market move.
How does Zenbot generate profits?
This trading software relies on the technical-analysis-based trading approach to make money. So, it assesses the market while gathering pertinent data on price movements. It then opens a trade when it has determined that a trading opportunity is lucrative. Trades are then closed when the opportunity for making money is no longer available. Users are also allowed to set their own buy stops, sell stops, and (trailing) profit stops. However, the vendor warns that Zenbot is not a sure-fire profit machine, so you will be using it at your own risk.
Safety and security
The system is being tested frequently for known vulnerabilities. However, being an open-source tool, there is a looming danger for vulnerabilities that are still unknown to the public. Whilst the aforementioned measures boost Zenbot’s security, the software’s safety is dependent on the user. If you configure it poorly and fail to update it regularly, then you will be making it vulnerable to attacks.
How Zenbot pricing works
No pricing packages for this system have been published yet. For now, traders can use it for free. You can easily download all the required codes from the GitHub website. Notwithstanding, anyone interested can donate to the system’s development. The devs accept donations on the BTC addresses they have provided on the site.
Zenbot supports the following exchanges:
How long has Zenbot been in business?
Zenbot was founded in 2016 by David Vasquez, an online marketer. However, it first appeared on Github in 2017 and has become popular over the years as it attracted traders who are also interested in coding. Thanks to the Zenbot’s zero cost nature, crypto traders continue to use it to write and test out new strategies to enhance their trading experiences.
How to get started with Zenbot
You need a Github account to begin using this software. Since the platform is open-source, traders with technical experience will be in a better position to operate it. After opening the Github account, you need to customize the bot to your preferred settings and strategies. But before you apply the trading methods in the live market, it is advisable you test them first to see if they work. Notably, the dev doesn’t stipulate the amount of capital the robot needs to work with.
Zenbot doesn’t provide the conventional customer service options to its clients. In any case, if you experience any issues with the software, then you are free to submit your concerns on their Github repository or discussion section. You may or may not receive the feedback or assistance you require from the open-source community. You can also use Zenbot’s detailed documentation found on Github to learn how to operate it.
Zenbot is a free to use trading platform. It doesn’t guarantee any profits, and any income you get will hence be based on your effort, the parameters you set, and market behavior. The bot requires people with coding skills to operate efficiently. So, it may not be suitable for beginner traders.