Frequently
Asked
Questions
About Gunbot
In simple terms what is Gunbot?
Gunbot is software (bot) that runs on either a computer in your home or in the cloud.
Gunbot connects into your exchange account (Gunbot works with over 100 exchanges world-wide) and via a secure link (API) and uses this secure link to receive market details about the coins you have chosen to trade.
The software then makes decisions based on the strategy criteria you have selected to buy or sell. These trades happen automatically using your funds held in your exchange account.
What do I actually get when I buy a Gunbot Lifetime license?
Gunbot is now sold as both a lifetime license and a subscription service. With the lifetime license you pay one cost up front and for that you get the use of the software forever.
For this one time fee you get updates that include new features and general software improvements on a regular basis. You can choose to upgrade or not in all cases. You also get lifetime support via the Gunbot Telegram channels and support desk. There are no charges for this support it is all part of the initial license cost.
This makes Gunbot one of the most cost effective bots on the market.
Where do I run Gunbot and do I need a special computer to run the software?
Gunbot is software that can be either installed on a computer you already have ( in your home) or as an instance in the cloud (hosted). It runs on Windows, Mac-OS, Linux and even on a Raspberry Pi. The Gunbot software is not resource intensive so will run happily on any spec machine that is less than 5 years old. If unsure ask me I can give guidance in this area.
One important consideration when choosing to run either in the cloud or locally is the machine needs to be powered on and running 24 hours a day. Gunbot via your internet connection talks to the exchange to determine if buy and sell criteria are met. Some people prefer to place this in the cloud so that this resource usage is not on their Internet or computer.
The cloud is a very popular and cost effective solution. Check out all the details on cloud hosting here.
How do I learn to use Gunbot as it looks very complicated?
When you purchase a Gunbot license you are automatically enrolled into the Gunbot support desk as well as Telegram groups that have a community of people helping each other. I am also here to give you as much or as little time you need to become confident in the product. I support you 100% during the process of getting up and running as well as providing any other help you may need on an ongoing basis.
Gunbot also comes with a full and comprehensive Wiki. Answers to most of your questions will be in here and you are encouraged to check here first. If you can’t find the answer ask on the appropriate Telegram group and you will normally have an answer in minutes! Check out the Wiki here .
Gunbot uses a web interface to control and set it up. This interface has a tool tip on every setting which gives you a brief rundown on what it does and how it is used. This coupled with the Wiki allows you to in your own time to learn and try new and different options.
Is the price of Gunbot the same worldwide?
Yes in a word. The links on the buy page all link back to the OTC (Over The Counter) sales server. This ensures that the price remains the same worldwide and is always advertised in BTC and USD.
If someone tries to sell you Gunbot and they are not on this list of resellers then it is a scam. Beware!
Is there a set and forget setting that I can use on Gunbot?
Every release or update of Gunbot results in a product that is more capable of being 100% hands off. After the initial setup is carried out, which can now be done with a few mouse clicks, you are good to go! It is a good idea to login to your Gunbot every couple of days or weeks to just check that all is well. Gunbot is designed to just sit there and do what it is told to do indefinitely however the crypto market is very volatile and has a mind of it’s own that is why a check is a good idea.
With a cloud hosted solution this check can be done from any internet connected device on the planet at anytime. If you are running Gunbot on a machine on your home network this will not be possible unless you implement some technical bypass on your home internet router which can have security implications to all devices on your home system. I can provide advice on this configuration as well if needed.
What exchanges and coins can I trade with Gunbot?
Gunbot works on all the top 20 exchanges using a secure API connection. The choice of an exchange to use is a very personal thing but it is important to note that Gunbot has partnerships with some exchanges. This means there is 100% compatibility maintained with the various functions offered on an exchange.
Gunbot is capable of trading any coin or token that is offered on an exchange. With Gunbot licenses of Standard and above the number or coins you can trade on an exchange simultaneously is unlimited.
Exchanges with partnerships in place include and are not limited to:
Binance MEXC Kucoin OKX
The full list can be found here
Where can I go if I have more questions?
If you need more information or have any questions please just drop me an email (link is at the bottom of the page in the social icons) or use the contact form on this site.
Remember it is important that you have all the information on this great product. No surprises is a great way to operate!
Gunbot Security
Where is my money while I am trading and who has access to it?
This is a really important question and one everyone should ask! Gunbot trades using funds available from your exchange account. It connects to this account using a secure connection that it puts in place called an API a bit. This means that your Gunbot securely accesses only your account so you have complete control over all your funds in that account. You decide how much, and when so you remain in control.
No one else has access to your exchange account or to you Gunbot instance, this also applies for instances that are cloud hosted. There are multiple safe guards put in place which are detailed in the cloud hosing services page on this site.
How secure and safe are the crypto exchanges that I use?
The bigger exchanges that have been around for sometime such as Binance and OKX have made significant investments in security and compliance. The amount these exchanges transact each day is an eye watering amount so they see it as critical that they maintain security and integrity at all levels. With crypto there are no guarantees however and you should never invest more than you can afford.
How does Gunbot maintain security of my account and funds?
Several key points around Gunbot security are:
Gunbot connects to your exchange account using a secure channel via an API (bit like secure internet banking). This API has only permission to trade not withdraw so in the unlikely event of a compromise, your Gunbot instance can not be used as a means of withdrawing funds from your exchange account.
Gunbot keeps your API encrypted while it is on your computer, this means if someone steals your computer or compromises your Gunbot instance the API is not able to ne used in a malicious manner.
Gunbots GUI that you use to control the instance is protected by your password and also Two Factor Authentication (2FA) so this means that even if someone managed to guess your password they could not access the machine without the code.
I am worried about being a victim of a scam or being targeted by scammers what are some of the things I can do?
It is important to know that scam prevention is the top of mind with the Gunbot team. Never will any of the telegram admins DM you first or will anyone ever ask for money or payment for services. Once you have paid for your license there is nothing further to pay, ever! If someone asks for money if they help you or provide a service then they are a scammer and should be reported.
Down track if you buy an upgrade or an add on then this is done via a resellers website that uses approved Over The Counter (OTC) links.
If someone offers you an upgrade or add on in a telegram channel then it will be a scammer. If in doubt please ask.
Simple rules, Gunbot does not do airdrops of tokens, does not ask for more money, admins do not DM you or does support cost you!
Gunbot Versions
What are the differences between Gunbot Standard, Pro and Ultimate?
The main difference between Standard, Pro and Ultimate is the number of Exchange or API slots the license has. A single API slot like the Standard version gives you the ability to trade against one exchange with unlimited number or pairs and unlimited trades.
By upgrading to the Pro license you get the same functionality but with three Exchanges or API slots. This means you can trade the same pair combinations in multiple places simultaneously which many traders see as a huge benefit.
The ultimate license gives you the benefit of unlimited exchanges simultaneously.
With Pro and Ultimate you also get the Trading view add in as well. The exact combinations can be found on the products page of this site but this gives traders the ability to trigger buy and sell actions via trading view. Gunbot Ultimate has an inbuilt simulator which is extremely handy in testing strategies in real time without spending money!
Full details are on the Buy page.
Exchange and API slots, what are these in simple english?
An exchange or API slot gives Gunbot the ability to talk to a particular exchange in complete isolation.
Using the example of a Pro License which has 3 API slots then you could if you wished set your Gunbot up to trade like this:
slot 1: Binace Spot
slot 2: Binance Futures
slot 3: OKX
Note that spot and futures are treated as different exchanges in all cases.
You could not use this combination however as the exchanges need to be different!
slot 1: Binance Spot (your account)
slot 2: Binance Spot (the girl friends account)
slot 3: Binance Spot (Uncle Fred’s account)
What is the difference between Spot, Margin and Futures trading?
Gunbot will happily trade both spot and margin/futures. Depending on your license to trade futures you need additional Gunthy tokens to unlock this feature.
With spot markets you buy a coin at the spot price and sell it at the new price, this means the coins you buy are yours and are in your account. With futures you buy only a contract which can be leveraged for bigger gains (risk) so you don’t actually own a coin just a virtual contract.
With bigger gains you get bigger risk so it is really important that you read up and understand the risks prior to embarking on futures trading.
There is a good summary of the differences on the Binance site that may be worth reading if you are considering this.
In the future I may want to upgrade my license, how does this work?
To upgrade your license at anytime is very simple. Go to a the buy page and check out the upgrades section to make your purchase. You will receive an email with instructions to unlock the upgrade. The process is very simple and fast.
What is Gunbot ONE?
Gunbot ONE is no longer available, for those people with a Gunbot ONE license there is an upgrade path available for you. Please check out the buy page under upgrades for details.
If you own a Gunbot ONE license then it is important to note it will still be supported moving forward.
Automated Trading
Why is automated trading so popular with crypto?
Crypto never sleeps!
As we know share markets around the world are open for 8 hours 5 days a week. Crypto on the other hand is 24 * 7 *365. This makes it essential to maximise trading opportunities using software rather than trying to sit in front of a computer for 24 hours a day. Trading software (bots) monitor the markets you wise to trade via secure links called API interfaces. When the preconfigured market conditions occur the software triggers a buy or sell of the asset. By using software you can be extremely precise with the conditions, setting multiple criteria that must be met before the trade is executed. This is all done in the blink of an eye what would take a human many minutes to check and filter.
What is emotionless trading?
This is the term that is given to bots that trade cryptocurrency. Many traders allow emotions or gut feelings to get in the way of making sound trading decisions. Bots on the other hand are emotionless and clinical in the way they operate. When a set of conditions are met it will activate the trade and move on! With fast moving crypto markets this is essential.
Do I need a special computer to run my Gunbot software?
Gunbot can be installed on either a computer you already have ( in your home) or as an instance in the cloud (hosted). It runs on Windows, Mac-OS, Linux and even on a Raspberry Pi. The Gunbot software is not resource intensive so will run happily on any spec machine that is less than 5 years old. If unsure ask me I can give guidance in this area.
One important consideration when choosing to run either in the cloud or locally is the machine needs to be powered on and running 24 hours a day. Gunbot via your internet connection talks to the exchange to determine if buy and sell criteria are met. Some people prefer to place this in the cloud so that this resource usage is not on their Internet or computer. The cloud is a very popular and cost effective solution.
Check out all the details on cloud hosting here.
How do I setup my Day-1 trading configuration?
Gunbot comes complete with a group of preset strategies that have been designed by the community and coded by trading experts. These strategies are proven and 100% do what you want on day one and that is to make money trading crypto. You can select the type of strategy that fits with your desired trading outcomes like high gain low trade numbers, sniping the market or one of the many step strategies. All have an out of box setup that is easy to implement. I also can advise what I use all the time for different market conditions. There is no trade secrets here just 100% good advice that is free!
I want to take a low risk approach to start with is that possible?
Gunbot has many settings that impact the risk profile of the trades. As we all know everything in life is based around risk and reward, crypto trading is no different. You can implement high risk, high reward or low risk lower reward strategies. This is easily done and it is possible to tweak this as the market conditions change. The process is very simple and I am happy to guide you in this area.
Is there a set and forget strategy with Gunbot?
Every release or update of Gunbot results in a product that is more capable of being 100% hands off. After the initial setup is carried out, which can now be done with a few mouse clicks, you are good to go! It is a good idea to login to your Gunbot every couple of days or weeks to just check that all is well. Gunbot is designed to just sit there and do what it is told to do indefinitely however the crypto market is very volatile and has a mind of it’s own that is why a check is a good idea.
With a cloud hosted solution this check can be done from any internet connected device on the planet at anytime. If you are running Gunbot on a machine on your home network this will not be possible unless you implement some technical bypass on your home internet router which can have security implications to all devices on your home system. I can provide advice on this configuration as well if needed.
Where are my crypto assets stored when Gunbot trades?
Gunbot trades using funds available from your exchange account. Gunbot does not have any of your funds in it, on it or by it. Gunbot connects to your exchange account using a secure connection. Gunbot then instructs your exchange account when to buy and sell assets, how much to buy or sell and what asset. You decide how much, and when so you remain in control.
No one else has access to your exchange account or to you Gunbot instance, this also applies for instances that are cloud hosted. There are multiple safe guards put in place which are detailed in the cloud hosing services page on this site.
Hosting Services
Why would I use Gunbot NZ Ltd services?
There are a few other Gunbot resellers around the world offering hosting services but the cheapest of these is around double what I charge.
For me it is not so much about making money but providing a quality service for my customers. The fees I charge for hosting cover my costs only, nothing else.
In return you get a secure environment for your Gunbot that can be accessed from anywhere there is an internet connection.
There are also a heap of other bonus services with this they can be all checked out here.
What visibility does Gunbot NZ have of my trading activity?
First up there is zero GUI access to any hosted Gunbots, This is simply not possible as you hold the 2FA codes and password. These can not be bypassed in any way.
On the server you are hosted on there are logs that record all activities on that server in a time sequential order. These logs allow me to confirm the security of the environment and also server side activity. Log files are retained for 5 days and then overwritten. The logs contain the fact an action occurred, not what triggered it, so even with these files that are encrypted on the server no viable intelligence could be ascertained. These logs are not shared or are they available on any other medium other than the server disk. In short taking all this into consideration you are safe from eavesdropping!
I am already using Gunbot, can I bring my Gunbot into the hosting environment?
Absolutely. I will recreate your bot and then have you send me by secure medium your Gunbot configuration files. I import these into the hosted bot and just like that your bot is running on the hosted environment. All trading history and configuration settings are transferred. The process from start to finish takes less than 30 minutes.
I do have some more questions about hosting!
Make sure you read the hosting section on this site it will normally answer any questions, if however it doesn't then get in touch using the form at the bottom of this page!
Thanks