As cryptocurrency enjoys growing mainstream adoption, interest in tools like trading bots continues to increase. These bots aim to automate the process of executing trades based on predefined strategies and algorithms. One such bot, Gimmer, markets itself as an easy way for crypto beginners to tap into automated trading.
In this extensive review, we’ll analyze Gimmer’s features, performance, security, pricing, and usability. We‘ll compare it to competitors like Pionex and Bitsgap. And we’ll determine who can benefit most from using Gimmer for their crypto trading needs.
Overview of Gimmer’s Origins and Capabilities
Founded in 2017, Gimmer is developed by a team spread across the USA, Russia, and Brazil. The founders sought to create an easy-to-use crypto trading bot accessible to traders with no technical expertise.
Gimmer is cloud-based, running the trading algorithms on its servers rather than users‘ local machines. This allows for 24/7 operation without needing to run a computer.
The platform offers a variety of pre-defined trading strategies optimized for different market conditions. These include options like "Aggressive," "Balanced," and "Conservative" to match investors‘ risk tolerance.
Users can connect Gimmer to exchanges like Binance, Coinbase Pro, Kraken, and KuCoin. The bot then automatically executes trades on the user‘s behalf. Gimmer also integrates with Telegram and Discord to provide alerts and notifications.
- Pre-defined trading algorithms and bot strategies
- Cloud-based trading infrastructure
- Connections to 10+ major crypto exchanges
- Easy to use dashboard for monitoring and alerts
- Notification options via Telegram, Discord, email
- Secure storage and encryption of API keys
Evaluating Gimmer‘s Trading Performance
With algorithmic trading, the quality of the bot‘s trading strategies determines results. Gimmer provides limited transparency into its algorithms and performance history. But we can make some assessments based on available materials and user reviews.
The predefined strategies like "Aggressive" and "Balanced" suggest algorithms optimized for various market conditions. Gimmer likely utilizes technical indicators like RSI along with machine learning to continuously improve performance. Reviews indicate users tend to see monthly returns in the low single digits, with occasional stronger months depending on volatility and trends.
Compared to platforms like Pionex which share extensive backtesting data, Gimmer reveals less about the effectiveness of its algorithms. But its focus on continuous advancement through AI and machine learning demonstrates commitment to improving returns.
Usability for Crypto Trading Beginners
Ease of use is arguably Gimmer‘s greatest strength. The onboarding process is straightforward, allowing new traders to begin automating their crypto investments quickly:
- Create account
- Connect exchange API keys
- Select strategy
- Fund trading account
- Let bot handle trades
No coding or technical knowledge is required. The dashboard also provides clear metrics and optional stop-loss limits for risk management.
Customer support is responsive across email, Reddit, and Telegram. Documents and tutorials explain concepts simply. This makes the platform extremely beginner-friendly.
Experienced traders may desire more advanced order types, customizable algorithms, and backtesting capabilities. But for investors prioritizing convenience and simplicity, Gimmer delivers a smooth onboarding experience.
Gimmer‘s Security Infrastructure and Protections
Since Gimmer connects to users‘ live exchange accounts, security is a major consideration. Their infrastructure aims to mitigate risks in several ways:
- API keys are encrypted and securely stored without access by Gimmer or other users
- 2-factor authentication highly recommended for account protection
- Funds remain in user‘s exchange account rather than being deposited to Gimmer
The cloud-based bot servers free users from maintaining always-on hardware. Servers seem well-secured to prevent external intrusion.
While no system is completely without risk, Gimmer appears to apply security best practices based on available information. Activating available features like 2FA provides additional safeguards.
Pricing and Fee Structure
Gimmer pricing is straightforward, with monthly subscription plans starting at $25/month. Discounts up to 15% apply for 3, 6, or 12 month terms.
There are no commissions on trades, but any exchange fees still apply. Gimmer also charges a 20% performance fee on net profits each month. Compared to competitors, these costs are reasonably in line with the market.
The 20% performance fee is somewhat high but warranted assuming the algorithms are profitable. Considering the extensive infrastructure required to deliver a cloud-based trading bot, the pricing seems appropriate.
For larger investors, Gimmer could consider a tiered pricing model with discounted rates above certain volume thresholds. But current costs are affordable to most retail crypto traders.
How Gimmer Compares to Top Competitors
Gimmer competes in an increasingly crowded field of trading bots like Pionex, Cryptohopper, and Bitsgap. How does it compare?
Pionex offers impressive trading automation and algorithm capabilities for experienced traders. But the learning curve is higher compared to Gimmer‘s simplicity.
Bitsgap provides more order types and exchange integrations than Gimmer. But Bitsgap‘s interface can be overwhelming to newer crypto investors.
Gimmer‘s primary advantage is beginner-friendly design. For investors prioritizing ease of use over advanced functionality, Gimmer excels compared to more complex platforms. Its pre-defined algorithms also require less oversight than more customizable bots.
Conclusion – Who is Gimmer Good For?
In summary, Gimmer delivers an accessible entry point for crypto investors to benefit from algorithmic trading. The automatic strategy execution, intuitive dashboard, and responsive support create a smooth onboarding process for beginners.
For already profitable traders, platforms like Pionex and Bitsgap offer more advanced capabilities. But their complexity has a learning curve. Gimmer best serves investors prioritizing simplicity in a trading bot.
Considering its reasonable pricing and focus on continuous improvement, Gimmer is positioned as a top innovator making algo-trading approachable for everyday cryptocurrency enthusiasts. The volume of positive user reviews confirms that for many, Gimmer provides the ideal blend of automation, performance, and ease of use.