Zenbot Review 2020: Is this free bot Scam or Legit?

Cryptocurrency trading is undoubtedly a big thing today, and to no surprise, the trading is flooded with lots of artificially intelligent tools or bots with the latest features and technology. Probably your first thought would be, “are trading bots even genuine?” And if you are already on the look for the perfect bot for assistance, you would perhaps be confused among so many crypto trading bots in action today. In this post, we plan to take up your trouble of sorting amongst these bots. Here is by far the most detailed Zenbot 4 review, that has been on the news as the most popular bot over the past few months.

Trading bots make news either with fandom or way more complex controversies, And Zenbot has made news with the genuine profits it has been consistently providing to its client base. This Zenbot review attempts to look at how Zenbot rules by a margin over similar other crypto trading bots available in the market today. 

What is Zenbot?

zenbot review

Zenbot is basically an open-source online tool that hosts a natural language processing service along with functioning as a chatbot. You can easily configure it and set up as per your requirements. To modify the platform, you would require to modify and update the background code on which it is built. This artificial bot is intelligent in a true sense as a BTC trading bot with support for high-frequency trading, which is a plus, unlike many other bots. Zenbot works based on an in-depth market analysis. And yes, it works like an automated bot for GDAX too. How to use Zenbot? Well, most of the part is automated and will guide you whenever your input is required! 

Zenbot finds wide popularity for its user-driven interfaces that makes use of a natural language. Another major highlight of Zenbot is that you get support for more than 13 currency exchanges, some of which are GDAX, Kraken, Bittrex, Gemini, Poloniex, and Quadriga. The algorithm is well coded and performs on the base of extended market analysis, along with the use of Artificial Intelligence to drive decisions.

Above all, the Zenbot algorithms provide support for multiple platforms like Node.js and MongoDB, making it easy to run over any of these. As an intelligent investor, you would understand the possibilities of how Zenbot could be just the right bot to ease up your process of investing and trading cryptocurrencies. Zenbot is like an opportunity that may not bring you hoards of money, but money nevertheless. 

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Features of Zenbot

Zenbot offers you an endless list of features and keeps adding more with each of its new updates. Here’s a pick of the top features about Zenbot:

1) The all-in-one framework bot

Zenbot has immense capabilities, be it building graphical bots, building complex and more qualified bots over the base code, Zenbot makes everything possible. In short, you can easily handle it as a multipurpose bot with multiple distinct features that shall make crypto trading way more interesting and simpler. 

2) The server is NOT an issue!

The best part of using the Zenbot 4 is that there are basically no server requirements. No platform or database requirements to interact and connect with any other hosts or bots. It is a solution to multiple other issues that may arise over server end issues, thus making your trading process hassle-free. 

3) Natural language engine

Zenbot uses a natural language engine, meaning that the Zenbot syntax is well-versed in the language, including context, semantics, and grammar checks. It boasts of a powerful and flexible neuro-linguistic programming engine that allows building complex and interactive trade bots over it. Zenbot offers multiple language configuration options, and you can pick from your favorites given the flexible syntax patterns.

4) Useful analytics

The bot’s data and usage statistics are useful for automatically storing in multiple other analytical tools like Google Analytics, Mixpanel, Tableau, for useful insights and information. You can then use these analytics to drive decisions as and when required.

5) Javascript support

Yes, Zenbot has full support for one of the most popularly used languages, Javascript. This comes as a big advantage if you are well versed in the language and can easily implement complex programming logic. 

6) Flexible sampling

The Zenbot 4 also supports flexibility in sample sizes, and you can place average trades set at 1-2 trades per day during a one hour slot or as much as 15-50 trades per day on five- minute periods. 

7) Messenger integrated

Another interesting feature of Zenbot is that Zenbot comes pre-integrated with many popular messaging platforms, such as Facebook Messenger and Skype, among others. It simplifies the user process as they would only require to provide the credentials on to the console.

8) Develop your own virtual assistant

Zenbot also provides you the option to connect across multiple other websites and applications through the app directly. The REST API available on Zenbot provides the user to create their virtual assistant- “Your own Siri/ Alexa”! Whichever you prefer the most.

Jumping next in this Zenbot review, let us consider the advantages and disadvantages of using Zenbot.

Advantages of Zenbot

1) Ease of Use

One primary advantage of Zenbot is the ease of analysis of responses with the need for developer assistance in implementing U2M communication. The “how to use” guide of Zenbot 4 is the easiest with walkthrough guides wherever required, making your crypto trades and investments hassle-free and fast. Some of the ease of access functions Zenbot 4 provides are assistance in contexts’ management, collecting and storing required variables, evaluation of scripts, and performing actions with output. As a consumer, you only need to send a text request and wait to receive the complete response in return.

2) Maximum profits

Bot trading has one important performance parameter, profits. Zenbot helps you in maximizing the profits. You can perform trades at higher frequencies. There are obviously high risks involved, but with the right and accurate strategy implementation, the returns would be even better. 

3) Pattern matching

Zenbot algorithms also make use of a strong pattern matching mechanism, which is way more powerful and better over the machine learning algorithms implemented by other bots. Pattern making is a better choice, given its flexibility in informatics along with the dialog management system. Zenbot’s pattern matching works well in integration with entity extraction, making the system much easier to follow.

4) Easier Dialog structure

Unlike most other bots relying on Net Interface for building dialog structures, Zenbot makes use of XML file format. This makes the task comparatively easier, eliminating all confusion and complexities of Net Interface. This is also a more comprehensive method of building dialog structures.

5) Backtesting

Using Zenbot, you also get the additional backtesting feature, which allows you to run a simulation in a virtual environment to check its performance. It comes to great advantage to beginners in the crypto trade as they can get to understand how the actual trade is made without actually investing or trading till they gain the confidence to jump into the real market.

6) Code Modification

Code modification in Zenbot is extensively simplified as the entire platform is based on open-source code. You can easily clone already developed codes from GitHub whenever you get stuck in between. Another advantage is Zenbot can run on most of the popular operating systems, Linux, Windows, and macOS.

Disadvantages of Zenbot

1) Irregular updates

Zenbot is one of the most advanced bots. But, the updates are quite slow and irregular, which has been the main cause for pulling down its reputation in recent days. This has also caused the competitors of Zenbot to get ahead of it, as slow updates don’t allow the users to have constant updates on the market.

2) Live trade v/s Paper trade discrepancy

With Zenbot, there exist multiple discrepancies between the trades on paper and the actual live ones. There is still no official confirmation from the developers regarding the observed discrepancy. All this only lowers the reliability threshold and compromises with the security and integrity of the bot.

3) CLI Coding

One of the points which would possibly seem a disadvantage to many is the command line interface coding. Many find it difficult and uneasy to understand if not accustomed to it before. 

Can we really make money with Zenbot?

In the end, with all the features, pros, or cons, all you want is Zenbot’s ability to win you big money. And lately, all the multiple controversies regarding Zenbot about it being a scam and stuff require a quick address. Well, the discrepancies complained by users, between the live trades and indicated/ simulated profits can be directly attributed to the volatile market.

There tends to be slippage between order executions. Even the experienced traders who had used Zenbot before and made gains and losses explained the fault, not at fault. The crypto market brings with it unavoidable volatility. And this can be used to advantage only with experience. 

But one obvious drawback of the bot is the lack of fast and feature updates. The market is ever-changing and needs the bot to be updated every time with newer information. Another argument is other bots generating more profits than Zenbot, which is again baseless. It all narrows down to the trade strategies one opts their bot to perform, which reflects on the final profits. 

To be concise, understanding the crypto market is the key to profits, especially with Zenbot. Zenbot is the platform to manage the frequency of your trades. With good experience and understanding, you stand a good chance to be profitable. So, grasp the trading know-how, adopt the right strategy, and understand the volatility of the market. And for sure, Zenbot would help you make real money. 

Pricing of Zenbot

FREE! Yes, Zenbot is free to create for any non-commercial purpose, with no hidden charges. However, for commercial use, one would need to contact their development team directly for a project assignment. The prices are quite concise even for commercial use and work pretty well for business too! There are practically no rate limits for the use of Zenbot. Plus, the latest codes are easily accessible on Github. The pricing is undoubtedly a plus here.

Zenbot Review – Conclusion

Onto the final verdict of Zenbot review, we would say that trading bots are not for casual use or to leave the trade to bots. The level of risk involved in cryptocurrency trades and investments is moderately, and one needs to be well-acquainted with and regularly monitor their trade performances. Else it is not new about the enormous losses the market is subject to.

Before using any bot, including Zenbot, you need to be well versed with the crypto trading basics and market understanding, so that you can leverage Zenbot to drive profits. The exciting features Zenbot provides at ZERO cost makes it accessible to all. The additional tools offered by Zenbot are also far more advanced than other bots and for free. You don’t need to pay a single penny for access to any of these features. There may arise situations of loss while using Zenbot, but that is just the basics of crypto trading. 

The superior characteristics and unique features are totally on the user end to use to best drive profits. You can opt to perform your trades at high frequency to stand fair chances of making profits while being at a moderate trade risk. The wide range of support for multiple currency exchanges makes it handy for seasoned investors too. In the end, we all seek profits in crypto trading. Your aim should be focussed on making more crypto gains rather than focussing on the value you hold. Overall, it is equally essential for Zenbot users to weigh all the handy features and use them accordingly. 

The bot is free with lots of features. You should consider every aspect of it and be confident about your strategies before implementing it in your trades. And you can always use it to increase the trade frequencies and duration in a day. Happy Trading! 

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