Zenbot is a fully automated crypto trading bot compatible with Bitfinex, GEMINI, Kraken, etc. The algorithm is open-source and runs on Node.js and MongoDB. It is completely free and is available on the GitHub page for the general community. Traders may need some expertise in coding to understand the full functionality of the program. Our review will analyze the security, compatible exchanges, profitability, and much more.
Key features of Zenbot include:
- It has backtesting strategies against historical data.
- The bot allows paper-trading.
- The automatic technical analysis of the market.
- This EA supports a built-in plugin for compatible exchanges and creating new strategies.
- Traders can use the extensive documentation to understand the service.
Zenbot: pros and cons
|The bot is completely free to use||It isn’t easy to use and understand.|
|Traders can modify the code of the EAs||No income is guaranteed by using this algorithm|
|It’s suitable for experts only|
|Withdrawal fees:||No fees|
|Supported exchanges:||Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, GEMINI, HitBTC, Kraken, Poloniex, and TheRockTrading|
|Free trial period:||Unlimited|
|Multiple currency support:||Yes|
How does it work?
Zenbot code can be accessed from GitHub and is available to run at your own risk. It is an open-source bot that is subjected to continuous updates from the authors. The algorithm uses a pattern matching mechanism instead of machine learning and runs on Node.js and MongoDB.
Pricing and fees
Zenbot is a completely free algorithm and does not have any subscription plan. Traders can download the required code from the GitHub platform and use it according to their needs.
The bot can only be used by professional traders who have experience in coding and cryptocurrencies. The platform warns the users about the current configurations and parameters. It is advised to use paper trading and run simulations to analyze its performance before proceeding to live trading. The service requires constant monitoring from traders for efficient functioning.
How to start trading using Zenbot?
Traders can start trading with Zenbot by downloading the required algorithm from the GitHub platform. The only requirement to run this bot is Linux, macOS, Windows(Docker), Node.js, and MongoDB.
Who is Zenbot suitable for?
Zenbot is suitable only for professional market participants and developers as it requires coding skills. The user interface is very complex to understand by beginners.
Zenbot does not have any customer support like other conventional robots because it is not developed by a company and is an open-source algorithm. There is a community of users on Reddit where you can ask questions. On the GitHub platform, user documentation is available to answer the general inquiries.
Zenbot has a community of about 1400 members on Reddit and public groups on Facebook. The traders can ask for assistance from other bot users and take guidance from them.
There are no customer reviews available for this bot on trusted platforms like TrustPilot.
Zenbot review verdict
Zenbot is an open-source crypto bot that can be downloaded from Github. The product is not suitable for beginners, and there is no customer support to help out with any issues. There are no profits guaranteed, and traders are forewarned about the risks of the product.
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