Gunbot vs Cryptohopper
Trading bots are now a thing in the world of cryptocurrency. A trading bot is basically a type of software that allows you to trade 24/7 without the need for exerting effort in doing the job. These trading bots give you the advantage of making money on autopilot.
The cryptocurrency market operates 24/7, this is why it can be much of a laborious task for busy marketeers to consistently monitor its push and pull and then strategize. The unpredictability of the market has opened doors for trading bots to subsequently reign in the current cryptocurrency world.
While there are a lot of trading bots available, in this article, we will be focusing on two of the top-performing Softwares being used by marketers. Allow us to enrich your knowledge about the use of Gunbot and Cryptohopper.
What is Gunbot?
Gunbot is an advanced automated crypto trading bot. It operates on your behalf, even when you sleep, depending on the setting that you’ve put up once you installed the software. Each setting will also depend on the version you have purchased, not all versions have the same settings!
In a general sense, the use of Gunbot consists of these three (3) steps:
- Running in command-line mode
The primary objective of Gunbot software is to buy and sell cryptocurrencies for you, in consideration of all the market factors. This type of software enables you to trade BTC with any pairs. Unlike other trading bots that require a monthly payment so you can continuously use its services, Gunbot only requires a one-time payment for a lifetime license.
- Easy to use - with Gunbot, you can either use one of its multiple precoded strategies or you can configure the trading style depending on your own liking. This is done by adjusting certain parameters.
- Strategies - one feature that draws much attention for this type of software is its precoded strategies which help traders to trade more efficiently and easily. These precoded strategies enable you to change your trading indicators and even combine some trading strategies.
- Add-ons - this type of software also offers several add-on options, such as Cryptosight which allows you to monitor your profit. Another is the TradingView add-on, this sends off buying and selling alerts from TradingView for Gunbot to utilize.
- Compatible in Most Popular Exchanges - Gunbot can work with multiple exchanges such as Kraken, Binance, Bittrex, Cryptopia, and Poloniex. It can also work at the same time with Coinbase Pro, Bittrex, Huobi, Bitfinex, CEX, and KuCoin. Furthermore, it can trade in several currencies like Bitcoin, Ethereum, USDT, etc.
- Multiple Trading Options - it offers a number of trading options. It has a collection of settings that can be used to one or more trading pairs, according to its designated setting.
- Customization - Gunbot is very customizable. You will be able to choose how you want to trade with a pair. Also, it will perform consistently once you test the pairs.
- Effectiveness - Gunbot can analyze the performance of the market effectively. It will most likely follow a consistent routine, which is, to buy at lower rates and sell at fairly higher ones.
- Freedom to Users - you will have the freedom to set parameters on which ones to trade and sell, the amount you are willing to risk, stop loss and take profit.
What is Cryptohopper?
Cryptohopper is also a tool that traders can use to buy and sell bitcoins and all other alternative coins.
Although this type of trading bot is a bit new in the crypto trading world, it has gained a lot of attention as it also offers a wide array of features that seem to be of good convenience to traders.
- Technology - an API integration is used in semi-automated trading with a range of cryptocurrency exchanges and services. This can be done via the use of a desktop, laptop, tablet or a mobile phone that is connected on the internet.
- Tools - this platform showcases a good range of trading tools and also has features like bot backtesting tool, saveable and configurable templates, customizable technical indicators and trailing stops. Users can also make use of indicators such as RSI, Stoch, MACD and Bollinger Bands.
- Exchange Integration - this platform is currently compatible with nine (9) exchanges. These exchanges include Poloniex, Huobi, Kucoin, Kraken, Bittrex, Bitfinex, Binance, Coinbase Pro.
- Cloud-Based - It makes use of cloud technology which allows it to run 24/7. All your data will be kept in the cloud to avoid the risk of data wipeouts and inaccessibility on other areas than the local site. All you need is a stable internet connection to use it.
- Profit Optimization - this is the first trading bot software to incorporate professional “External Signals” that are sent from third-party analysts who are experts in trading. “Stop-loss” is executed by trailing tracks and selling the currency if its price hits low. “Shorting” on the other hand is another option to maximize your returns.
- Technical Analysis - You can mix and match different and customizable indicators like Bollinger Bands, MACD, Stoch, and RSI.
Gunbot vs Cryptohopper
In comparing both trading bots, most people pretty much choose Gunbot over Cryptohopper. This is mainly because of the following:
- With every purchase in Gunbot, you also get terrific free customer support.
- Since it is locally hosted, it operates on your PC. This means that even if the software company closes, you still get to keep the software application.
- Unlike Cryptohopper, or other trading bot software, Gunbot does not require a monthly subscription fee/s. You will only pay one time, during your purchase and you get to keep it forever.
- There is no extra charge for version upgrades.
- It does not collect data and information about trades from users.
- TradingView is considered as the leading technical analysis and charting platform.
While both these Softwares are actually on the top trading bots being used in the cryptocurrency world. Gunbot has been succeedingly on the top list through its advanced features and its readily customized strategic options such as Bollinger Band, Ping Pong, and Step Gain. On the other hand, while Cryptohopper is considered as a newbie in the market, it has already crawled its way to also becoming one of the known trading bots available as of today.