Zenbot Review: From Features to Reliability

Crypto trading bots also allow you to run simulations and test if your strategy will work in the real world. There are many possible configurations, and you can always try which setup will really suit your needs.

To buy and sell crypto without any effort, a crypto trading bot can come in handy. You just have to plug in the required parameters, and you can already let the bot do the whole work for you. One example worth looking at is Zenbot, and you can find out more about it in a comprehensive Zenbot review.

Zenbot Overview

Zenbot is an open-source crypto trading bot. This means it is totally free, and you can completely see the whole source code for the bot in GitHub. It has 6.9k stars and is continuously being maintained by more than 100 contributors.

Features

For a free tool, it is already one of the most sophisticated crypto trading bots you can find. It lets you create your own strategies and test those strategies with actual historical data. These are features you will already get with many commercial crypto trading bots in the market.

Just because it is free does not mean it cannot do the amazing things that other crypto trading bots can do. Under the hood, Zenbot uses actual, previous market data and runs a thorough analysis on this data to perform automated trading.

Technology

Zenbot is built on top of modern technologies like Node.js and MongoDB. Dependencies are also constantly updated, and the project is always checked for vulnerabilities to secure itself against known vulnerabilities.

Integrations

Out of the box, Zenbot already has lots of parameters and options you can set to create a strategy. You can find all those parameters in their documentation. You can also integrate Zenbox with many services like IFTTT, Discord, and Telegram to constantly inform you about its activities.

Other than that, Zenbot also provides support for many well-known crypto exchanges like Binance, Kraken, and GDAX. It is highly configurable, you can easily build your own strategies and test their reliability.

Ease of Use

Due to its developer-first approach, Zenbot may not be an ideal option for users with no coding experience. In order to install and use Zenbot, you have to conquer your fear of the command-line.

Every way to install Zenbot is already in the documentation. However, it also provides an option to run in Docker. Users who may not be aware of how to set up virtualization in their machine correctly may have trouble running Zenbot the Docker way.

Zenbot provides tons of parameters, making it very powerful but very daunting to use at the same time. Users must examine and understand all the parameters before they deploy a strategy in the real world.

Support

If in case something wrong happens during installation or usage, you can always submit an issue on their GitHub repository. However, Zenbot is maintained by the open-source community. It is free, but there is no guarantee you will quickly receive the assistance and feedback you need.

Reliability

This is also another aspect where Zenbot may not highly excel at. It is MIT-licensed, which means you are free to do anything with it but without any warranty. With a poor strategy, Zenbot will not be able to help you recover from your losses.

Zenbot is also explicit about the potential dangers of using the tool since it is an experimental trading bot. It can automate the entire trading process with it but must be monitored at the same time to make sure it is not doing anything that will cost you a fortune.

Zenbot is constantly tested for known vulnerabilities. It is important to emphasize the word ‘known’ here. As an open-source tool, there is a potential danger for vulnerabilities that are not yet known to the public.

While Zenbot is also being implemented as secure as possible, it is always up to the users to make sure Zenbot is always updated and not poorly configured and installed in their machines.

Conclusion

Crypto trading bots are sophisticated, and they all differ from one another in some way. However, these bots may be a little expensive, especially for people who are just getting started with crypto trading. This is when tools like Zenbot can come in.

Zenbot is a free and very powerful tool that users with coding experience can try. It is also worth the try if you are up to the big challenge of testing and creating trading strategies completely from scratch. However, when reliability is paramount, it is much better to go for paid crypto trading bots instead.

Some services may not be as powerful as Zenbot in terms of customization, but they already offer ease of use, around-the-clock support, and trading strategies that are proven and tested to work in the real world.

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