Gekko is a trading bot that has been in existence since 2013. It is an open source trading bot, which means its code is available online at GitHub. If you are a programmer you can look at its enhancement.
Gekko has been able to gather quite a few community members in the six years since its launch. This is largely due to its open-source model.
What is Gekko exactly?
Gekko has built a solid reputation despite its limitations. The trading bot is not an easy program to use at all. It has had several functions added to its core functions over the years by various developers but mainly Mike van Rossum.
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Gekko supports over 10 cryptocurrency exchanges. The company bases its algorithms both on short-term and longer-term strategies and investment advice. You can also do backtest or paper trade. Additionally, you can run technical analysis strategies against any market situation.
Gekko bot’s technical abilities are limited, it seems.
These limitations can be discriminated against, however, since very few regular users are able to navigate Gekko’s complicated codes and handling procedures.
Gekko has an alleged good reputation within the crypto trading community as well as a lot of positive reviews on websites.
Gekko was started by a Dutch programmer. There are currently more than 2600 commits to the site GitHub and 187 contributors.
As a result, the community has helped to add additional plugins and coding programs. The premium version, Gekko Plus, comes with several price points.
Despite the hype, it is still a niche product.
Gekko is an open-source bot
Gekko’s greatest advantage is its open-source nature. That means two things. First, it is free to all. Every line of code can be found online, and you are free to use it for any purpose.
You can create a trading bot that works with no investment if you have the technical expertise required.
A second benefit is that the code can be accessed by other developers, so many experts have looked at it and improved its efficiency.
Gekko is a trading bot that can be used for free. It has been approved and developed over time by many experts. It has a good reputation online. You can find out more by performing a few internet searches. A great piece of code is a huge asset in niche online communities. Even if it is difficult to use.
Gekko Supported Exchanges
This bot currently supports over 10 cryptocurrency exchanges. While some bots offer full support, others provide only limited assistance.
- GDAX – Coinbase Pro
- Luno – formerly called BitX
- The Rock Trading
Other visible exchanges may exist, such as Gemini. But they could still be disabled in the mods. You would not be able to use them.
Gekko, an open-source project, is free. But this does not mean it is perfect. It has its limitations. This is most evident in the area of ease-of use.
It is also necessary to have a server (or computer) that can host the application in order to be able to run it efficiently. This is not something that everyone has.
Ease of Use
Gekko is so niche, that Gekko’s original code does not support a graphic user interface. Gekko is a trading platform. An untrained eye could not tell the difference. Gekko can be freely used by anyone, but it is only available to a select few. This paradox has shaped the fate of this trading robot.
Gekko has been through several attempts to make it more user-friendly. Gekko Plus, which is a crypto trading bot that was based on the original code and has GUI and greater accessibility than ever before, was developed by the original developer.
But it wasn’t free anymore. However, the developer moved on to other projects and it was eventually discontinued in September 2019.
Although you can still access the original code on Github, it’s best to get it in the book before you can use it.
Gekko, an open-source Bitcoin bot, has many contributors. It is supported by no companies. This means that there is no support team for any problems. This is where the community comes in handy, often via users posting on forums. While you may receive some updates regarding the core program, it is not possible to get specific support.
This support is provided as a standard service and is free of charge.
Gekko allows you to choose from a range of investment options, so that you can make both short and long-term investments.
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It is however not a bot that is accessible for all and can be restrictive. They offer paper trading and backtesting. However, they can be hard to configure.
Gekko was a great ride, but it wasn’t fun for long. If you’re willing and able to risk unfamiliar code, it may still be fun. We’re not so sure. This loss hasn’t affected many people. Gekko bot’s complicated mechanics weren’t accessible to many people.
Don’t make a mistake and judge crypto trading by Gekko. There are many trading bots that work well and are easy to use without the need for complex programming or extensive trading experience.
You can check out Cryptohopper and Bitsgap, for instance. They prove that it is possible to trade cryptocurrency with bots efficiently and without any hassle.