Is Hummingbot Valid?

[hack3rcon]

Hello,
Is Hummingbot reliable? I have heard some of these bots drain users' accounts.

https://github.com/hummingbot/hummingbot

Thank you.

[KiaKia]

Either true or false, if I heard such rumour I won't be using it, bots are not all safe unless they come from trusted source, why would you want to use one? Anyway I don't knoe anything about this hummingbot but the rumours are scary, you don't want to give a try to see they unfold, its better to look elsewhere.

[OmegaStarScream]

Hello,
Is Hummingbot reliable? I have heard some of these bots drain users' accounts.

Thank you.

A lot of these bots can do that yes. If you give them the API access to withdraw.

Hummingbot has been around for a very long time, and it's also fully open source, forked by thousands of people:

https://github.com/hummingbot/hummingbot

So I can't imagine them being unreliable. Unless maybe some malicious code has been pushed, or something.

[hugeblack]

Since HB is a local client^[1]*, open source and has been reviewed extensively you can assume that you are safe but modify the API permissions to restrict withdrawal permissions.
There is an active community for it on reddit^[2] and so far I have not heard of anyone getting their account withdrawn so we can say that it is safe.


[1] https://stackoverflow.com/questions/33172791/what-does-the-term-locally-mean-exactly-when-used-in-software#:~:text=Running%20on%20the%20same%20machine,browser%20trying%20to%20access%20it.
[2] https://www..com/r/Hummingbot/

* Secure as long as your device is secure.

[ABCbits]

Hello,
Is Hummingbot reliable? I have heard some of these bots drain users' accounts.

https://github.com/hummingbot/hummingbot

Thank you.

Those who claim their money drained from their account probably downloaded fake hummingbot. It's not rare occurrence when certain application or website have good popularity.

[betswift]

Hello,
Is Hummingbot reliable? I have heard some of these bots drain users' accounts.

https://github.com/hummingbot/hummingbot

Thank you.

Those who claim their money drained from their account probably downloaded fake hummingbot. It's not rare occurrence when certain application or website have good popularity.

Or they are on the rise of gaining that popularity. Scammers became more frequent in crypto too, unfortunately ;( Official and not.

[Obari]

Hello,
Is Hummingbot reliable? I have heard some of these bots drain users' accounts.

https://github.com/hummingbot/hummingbot

Thank you.

Personally I’m not a fan of boy and I don’t think I’ve ever tried using bots in trading because as a trader(occasional) I don’t trust other persons trading for me atleast not robots because I already know that, the market is a very volatile one and most times, I don’t hear much enticing stories about bots.
Any bit that offers so much credibility should be suspected because to the best of my knowledge, no strategy is fixed and bits are programmed in strategies and the moment the strategy gets outdated, then losses starts coming and becomes unbearable.

If you ask me, I would say, stay away from bots and try learning this things as it’s always more better that way.

[logfiles]

Personally I’m not a fan of boy and I don’t think I’ve ever tried using bots in trading because as a trader(occasional) I don’t trust other persons trading for me atleast not robots because I already know that, the market is a very volatile one and most times, I don’t hear much enticing stories about bots.
Any bit that offers so much credibility should be suspected because to the best of my knowledge, no strategy is fixed and bits are programmed in strategies and the moment the strategy gets outdated, then losses starts coming and becomes unbearable.

If you ask me, I would say, stay away from bots and try learning this things as it’s always more better that way.

Bots are only a good idea if you know what you are doing and whatever kind of strategy you would like to automate. Hummingbot is easily modifiable to suit your trading strategy, so technically the bot just uses your strategy to execute orders, probably when you are away from the screen.
It doesn't mean the bot is going to be 100% perfect. Your strategy is your success.

[tech30338]

If you are in doubt never use it, but this bots are useful to other people, you just have to be very careful since we don't know what will happen next, maybe before trying you should also ask people who is using the bot for a long time, to see how they approach and how this use it be safe, im sure if they use it for a long time, they have experience many things about it.
I've try other bots and while using it others claim they lost funds but i'm not so we don't know the whole story maybe they already have a worm in the system before using it.