How to set up Zenbot - the free and open source Bitcoin and Ethereum trading bot - Jim Washkau Jr.

How to set up Zenbot – the free and open source Bitcoin and Ethereum trading bot

How to set up Zenbot – the free and open source Bitcoin and Ethereum trading bot

We all dream of owning a trading bot that can make money while you sleep or just go out and enjoy life. Unfortunately, it’s not that simple but Zenbot is an opensource crypto trading bot that supports multiple currencies and exchanges. The biggest being bitcoin (btc), ethereum (eth), litecoin (ltc), and ripple (xrp). The three biggest exchanges in the US are supported too. Bitfinex, GDAX, and Bittrex to name a few. Here’s a simple guide to getting it going.

What you need:

A Linux PC (Or a virtual linux image running on Windows)
Ubuntu 16 (I did get other distros to work like CentOS but it was too buggy and all features didn’t work. I suggest you just stick to a clean and minimal install of Ubuntu)
Node.JS and MongoDB installed on Ubuntu (Use the package manager or in a terminal type “sudo apt-get install nodejs” and “sudo apt-get install mongodb”)

How to Install:

Here’s a quick and very simplified guide on installing the bot once you have Ubuntu 16 running. You’ll be doing all of this in terminal since there is no GUI for installation or the bot.

  1. Open the Terminal app
  2. Install git by typing “sudo apt-get install git”
  3. Download the bot. Type “git clone”
  4. Move to the downloaded folder by typing”cd zenbot”
  5. You’re ready to start installing now. Type “npm install”. This will take a few minutes.
  6. It would be wise to best check your database is ready to go. Type “sudo apt-get install build-essential mongodb -y” to make sure it’s ready.
  7. You’re ready to run the bot. Type “./ trade –paper” into terminal. It should start trading in simulation mode and you can see what the bot is seeing and what decisions it would make in real trading mode should you have your API keys in the configuration file.
  8. You now have Zenbot running in paper mode. If you want to start trading with real money you have to set up your conf.js file with your API keys. You can get these from the exchange you want to trade on. Your API key must have permission to read and write from the orderbook and your balance. Each exchange is slightly different with permissions per set of access.
  9. Open file explorer and go to your installation. Find conf.js and open with a text editor. I use the default gedit.
  10. Here are some customization to get you running right away.
    Change the c.selector to your exchange. I use GDAX so this.
    c.selector = ‘gdax.BTC-USD’
  11. You have to add the API keys to the exchange you’re using. For GDAX you must copy and paste the key from your GDAX account (under settings->API). Fill out
  12. You can now start trading in live mode. Do run with the default settings you would run the bot using the following command:
    “./ trade “GDAX.BTC-USD”
    You should note that it will have to backfill data to learn previous trading patterns. Depending on your internet and the exchange this can take a few hours so let it download. If it takes longer it likely didn’t crash, just wait.Congrats! Zenbot can now trade for you.This is where you now have to customize the bot for yourself to get it running a strategy to your liking. The possibilities are really endless and I can’t explain every method here but for more info I would highly suggest you read the official documentation or join the discord chat for the bot. Happy trading!Have any questions? I’d be happy to help.
    Also if you found this helpful please consider signing up to Coinbase or Robinhood through my referral link.

No Comments

Post A Comment