Zenbot is a trading advisor that can be used on the short list of crypto exchanges like Binance and Kraken. The system is free, so everyone can join the developers team.
|Supported Exchanges:||Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniexand TheRockTrading|
There’s no presentation that would explain us what we are looking at. So, it was a challenge for us to gather everything up.
- The system was designed mostly on Node.js and use the MongoDB system of managing databases
- It can help us with automatic execution of our orders.
- It supports the following exchanges: Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniex, and TheRockTrading.
- The devs will extend the number of supported exchanges.
- There’s a feature that allows providing exchange support.
- The system can be backtested on real historical data.
- There’s a Paper trading mode that provides an opportunity to simulate a balance while watching the live market.
- We can customize various parameters like sell stops, buy stops, and (trailing) profit stops.
- An average trade frequency is one-two orders a day on H1 and 15-50 deals on the M5 time frame.
- We don’t know for sure if the system is secure.
- The devs share a declaimer that informs us that the system isn’t a sure bet and everything is our own risk.
- They provide an opinion that cryptocurrencies are still an experiment.
- The system may fail.
- Running a bot and trading requires careful study of the risks and parameters involved.
- We must know that wrong settings can trigger a major loss.
- We should never leave the bot un-monitored for long periods of time.
- If many losses occur, we have to stop it manually.
- The default trade parameters can underperform a buy-hold strategy.
- We have to backtest the system first.
How does it work?
The system performs automatically for us on the attached chart. We have to provide general supervision.
It support the next exchanges: Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniexand TheRockTrading
How does Zenbot stand out?
The system is free and everyone can participate in its design.
Best for: professional traders
The robot requires us to understand programming languages and how every parameter has to be customized. It’s not simple.
The system is free for use. We can donate on the devs wallets via BTC. Carlos8f is the original Zenbot author and DeviaVir is the current maintainer.
How safe is Zenbot?
We have no idea because it has open code. So, hackers can use it to find a way to exploit your wallet.
Carlos Rodriguez has been running a company Terra Eclipse, Inc. since 2018.
Is it a good choice for beginners?
No, it’s not. There’s just code that the average person doesn’t know how to use.