Meet Gimmer’s Advanced Algorithmic Bots Doing All the Cryptocurrency Trading

Gimmer’s bots allow the users to sit back and relax while they do all the trading benefiting from the cryptocurrency market.

On other trading platforms, only experienced users can set up automated trades. You have to know how to program the bots, and you also need to possess ample trading knowledge. Gimmer has removed such barriers, making it quick and easy for anyone to set bots up reducing the time and limiting the effort. The Gimmer team, with backgrounds in User Experience Design and Full Stack Development, worked very hard to create both. The user-friendly platform along with Gimmer’s advanced algorithmic bots gives the opportunity for everyone to set up a trade and take their portion out of the continuously growing cryptocurrency market.

Gimmer’s advanced algorithmic bots require no programming skills, no previous trading experience and no in-depth knowledge of cryptocurrencies from the user.

How Can I Set up a Trade?

Starting trading on Gimmer is easy! In order to set up a trade, a user has to rent out a trading bot from the Gimmer Bot Store, charge it with Gimmer Tokens (GMR)- the cryptocurrency powering Gimmer’s ecosystem - and start trading. It is that simple! You can read more about Gimmer Tokens in our previous Medium post.

Experienced users can set up trading strategies and portfolios, which they can rent out to other members of the Gimmer community. This way, users who wish to start trading instantly can search for the best strategy and start trading! On the other hand, the creator will receive GMR for renting out his strategy.

Variation of Bots

Users can rent trading bots at various levels from the Gimmer Bot Store. Gimmer offers its users bots that can trade different currency pairs, use multiple indicators and safeties. A standard trading bot with one currency pair, one indicator and one safety is offered to the user for free.

However, if a user seeks to set up a more complex trade, he can give extra instructions for his bot, such as indicators and safeties. The user has to charge more advanced bots with GMR. The cost in GMR will scale depending on how long the bot is active for and how many additional instructions a user gives the bot, such as, how many currencies they wish to trade, how many safeties and ticks. This means a bot with a simple strategy and an expected lower return will be cheaper to rent, whereas more complex strategies with multiple currency pairs, numerous indicators and safeties, will be more expensive to rent.

Example Bot Pricing

Example pricing of different level bots

Traders, who wish to add their strategies to the Gimmer Bot Store, can set their own value and rental price. Gimmer takes a small percentage of the rental income automatically while the rest is paid to the creator of the strategy. The exact detail of the pricing structure is due to be defined in early 2018.

Gimmer’s advanced algorithmic bots are also used for cryptocurrency lending. A user has to simply set his desired parameters and the bot finds the best loans terms and the best time for that.

In addition to the Automated Crypto-trading and Lending service, Gimmer operates Automated Crypto-Arbitrage bots too. These bots are used to simultaneously buy and sell a currency to profit from the price difference between various exchanges. The Arbitrage bots search the exchanges and make the deal and the optimum time. The exact detail of the pricing structure is due to be defined in mid 2018.

Why Did We Switch From Subscription Model to Token Pricing?

Gimmer has released the public beta of its platform in early 2017 to validate the core functionality of the trading bots. During the course of six months, over 800 active users participated in the Gimmer public beta creating 7,170 active crypto-trading bot strategies and successfully completing 12,893 backtests. The most profitable user generated bot strategy in the period handed 87 percent return.

In the public beta, Gimmer used a subscription model instead of a pay as you go token system. Technically the subscription model worked perfectly fine, however, as the number of users increased on the platform, Gimmer realized it was time to change this model. During the beta, Gimmer learnt that bot usage varied so much across the user base that it was impossible to create a fair and flexible pricing model that would suit the individual needs. The Gimmer team wanted to introduce a fair and transparent pricing model which lead the switch to token pricing instead.

Furthermore, as other services offering automated trading use the subscription model, Gimmer decided to differentiate from other services by offering greater flexibility to users.

Gimmer will hold a Token Sale to further develop the platform. The Gimmer Public Token Sale will start on February 1, 2018, head to the Gimmer site for more information or read our whitepaper. Do you have any questions regarding Gimmer? Join us on our Telegram group!

Also read our previous articles introducing Gimmer and the Gimmer Token!