Nowadays, investing in cryptocurrencies can be very rewarding. However, making these types of transactions is not the easiest thing to do. This market is governed by its own laws, high variability, and other intricacies, so achieving meaningful profits can be quite difficult. The constant need to be online and making transactions can be a tedious and uninteresting process. Therefore, this demand in the market has led to the emergence of various types of cryptocurrency trading bots, such as Zenbot.
Description of Tool Zenbot, key information
Zenbot is a fully automated open-source software and a chatbot host. This means that it can be freely upgraded and updated according to the ever-changing requirements of its users. It is extremely useful for developers who create interfaces based on natural language. Additionally, it offers support for multiple currencies, full integration with various messengers such as Messenger or Skype. It is able to perform high-frequency trading on its own, thanks to an algorithm based on market analysis. It uses artificial intelligence in continuously improving its algorithm. Unlike other bots, Zenbot is completely free and offers the creation of a demo account where we do not need to invest real money in order to see how it works.
Registration and logging-in on Zenbot
To start using Zenbot, users must have a GitHub account. After opening this account, you need to choose a strategy for Zenbot according to which it will execute trades for you. Additionally, this platform offers a demo account where we do not have to invest real money and we can test our strategies or check the bot’s performance without any hassle.
How does Tool Zenbot work?
Zenbot is a trading bot, so its primary function is to trade cryptocurrencies and analyse the market by scanning it and collecting data. Thanks to this, as well as previous price information, Zenbot is able to carry out a given transaction fully independently in a way that is beneficial to the recipient. The principle of operation is therefore simple, the bot works based on the current movement on the cryptocurrency markets, and then opens and closes given transactions based on its own market analysis. Among its advantages, we can definitely include the fact that it allows you to set a stop loss and take a profit limit. It then buys or sells the cryptocurrency in such a way as to increase the profit or minimize the losses incurred. Its operation is based on a command line interface, so you must be familiar with it in order to use it.
Zenbot – forum opinions and reviews. Is it a scam?
Zenbot is an advantageous tool in cryptocurrency trading, collecting various reviews about itself. As for the advantages pointed out by its users, first of all, it is free. It supports as many as 9 cryptocurrency exchanges and creates relative trades according to its own observation of the markets. Additionally, it provides complete flexibility and the ability to choose various options and many beneficial features, making it an extremely popular solution. It has an open-source software system, so it can be freely modified and updated to fully suit your individual trading style. It does not require direct communication with the user.
However, users also point out that it is not without its drawbacks. These certainly include infrequent updates and difficult access to news. It is a fully unreliable solution for live and paper trading. The running of Zenbot is based on an algorithm, so it is not suitable for those who are unfamiliar with it.
Deposits and withdrawals in Zenbot
Unlike other trading bots, Zenbot does not require a set amount of money needed to deposit in cryptocurrency trading. It is a good idea to deposit small amounts at first in order to test the bot and get familiar with how it works. The withdrawal process can take up to 48 hours. There are no fees associated with this as it is a completely free service.
Is it worth using Zenbot?
Making money with cryptocurrencies is not a simple task as the market is unstable and without proper knowledge, incurring financial losses is a real possibility. Trading bots are therefore designed so that users can create algorithms that will configure the bot to execute any necessary trades. It is a useful tool if you know how to use it properly. However, making money with its help is never guaranteed. Users must know the rules of the market and how to navigate it and how to invest.
It also offers many beneficial features. It has been positively reviewed by users and is often preferred among other platforms. This is not surprising, as it offers rich features for oriented traders, such as strong natural language, JavaScript, or integration with popular instant messengers. It is a good option for beginners, as its use is fully free and allows you to test all features through the demo account option. There are also no set fees or limits for its users.