Gekko was created in 2013. It is an open-source trading robot. This means it is freely available on the website GitHub. Developers can also take a look at how they have enhanced it.
Gekko has managed to attract quite a few community members over the last six years. This is due in part to its open-source approach.
It supports multiple exchanges and has many features. This bot is well-known in the crypto industry. To do its work, the bot uses a command-line interface.
What is Gekko?
Gekko bot, an open-source trading platform project, was created in 2013. It was built using JavaScript, and is open-source for everyone who wishes to contribute. The bot has seen rapid growth and attracted a lot of attention from both developers and traders looking for an efficient bot.
Because it is open-sourced, it is free and available to everyone who wishes to use it. Gekko is still a niche product and attracts only the attention of crypto traders and coding veterans due to its JavaScript nature.
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Gekko has earned a good reputation despite these limitations. It is not easy to use. However, it has many functions added to its core functions by different developers over time, but most importantly Mike van Rossum who is the man behind this idea.
The trading bot has more than 10 cryptocurrency exchanges. It bases its algorithms on short-term and long-term investment strategies and advice. There are options to backtest and paper trade, as well as the ability to run technical analysis strategies against market conditions.
The bot seems to have limited technical skills.
These limitations are not to be ignored, as few regular users have the knowledge and experience necessary to navigate Gekko’s complex codes and complicated handling procedures.
Gekko Reputation
Gekko is said to have a great reputation in the crypto trading community, and lots of positive reviews on other websites.
Gekko was founded by a programmer from Amsterdam. It currently has over 2600 commits and 187 contributors.
Due to the community’s support, the project was able to include more coding programs and plug-ins. It also includes a premium version called Gekko Plus that comes with a range of price points.
Despite all the hype, it remains a niche product.
Gekko, as an open-source bot
Gekko’s open-source nature is one of its greatest strengths. This means that it can be used by anyone. It is open-source, which means that everyone can use it. You can find every line of code online and use it for your purposes.
A functioning trading bot can be created with zero investment, provided you have the required tech skills.
Second, the code is open to all developers. This means that many experts can review the code and make it more efficient.
Gekko, in short, is a free trading robot that has been developed and approved by many experts. You can see the reputation it has built online by doing a few web searches. In niche online communities, a good piece of code can make a big difference. Even if it’s difficult to use.
Gekko Supported Exchanges
This bot currently supports more than 10 cryptocurrency exchanges. While some offer complete support for their features, others only provide limited assistance.
- Poloniex
- Binance
- Bittrex
- Kraken
- Bitfinex
- GDAX – Coinbase Pro
- Coinfalcon
- Luno – formerly called BitX
- The Rock Trading
You may also find other exchanges such as Gemini. However, they might still be disabled by mods so that you are unable to use them.
Gekko Prices
Gekko is an open source project and doesn’t require any payment. It doesn’t have all the best things, however. This is especially evident when it comes down to ease-of-use.
You need to be proficient in Javascript programming if you want to really make the most of it.
A server or computer is required to run the application effectively. This is not something everyone will have.
Ease of Use
Gekko is only for the most dedicated of experts. We’re sorry to say that it is not for you if you don’t have any knowledge of JavaScript or the command console.
Its niche is so small that the original code doesn’t even allow for a graphical user interface. Untrained eyes wouldn’t be able to tell that Gekko was a trading robot. Gekko is freely available for anyone, but only a few can use it. This paradox sets the fate of this trading bot.
Gekko was made more user-friendly through a few attempts. Gekko Plus was created by the original developer. It is a bot for crypto trading that uses the original code, but has a GUI and much more accessibility than before.
It was, however, no longer free. It was still available, but it was terminated in September 2019, due to the move of the developer to other projects.
The original code is still available on Github. However, you will need to read the books to be able to use it.
Gekko Security
This is the ideal javascript coding method that this bot uses, so you can download it onto your device. It’s not cloud-based nor web-based so it only works on the computer where it was downloaded.
What does this mean for security? This means that the bot can be as secure as you want, based on your settings. Although this system is flexible for computer experts, it can be vulnerable to average cryptocurrency traders who don’t know javascript.
Customer Service
Gekko is an open source Bitcoin bot that has many contributors. There is no company that supports its operation. Therefore, there is no dedicated support staff if you have any issues. This part of support is often provided by the community through other users on forums. You might receive updates about the core program but not specific support.
This is a standard support method that comes as a free service.
Gekko Settings
Gekko has a variety of settings that allow you to make short and long investments via their exchange.
Another thing to note is that you can create your own strategies if you are proficient in coding, especially javascript.
This is not a crypto bot that can do everything, and it can be very restrictive. Although it offers backtesting and paper trading, the settings can be complicated to set up.
Conclusion
Gekko was fun while it lasted. Gekko may still be a great ride if you are willing to take on the risk of unfamiliar code. But we aren’t so sure. This loss has not affected many people. Gekko bot’s complicated mechanics were difficult to navigate for many.
But, you shouldn’t judge crypto trading on the basis of Gekko. You can find more efficient trading bots than Gekko, which require no coding knowledge or years of trading or coding experience.
For example, Cryptohopper and Bitsgap are two examples. These bots are an excellent example of how trading cryptocurrency can be done efficiently and without too much effort.
