Step-by-Step Guide for Beginners: How to Create Profitable Bots Using ChatGPT | January 2025

Summary

In this video, Jake, a Web 3 developer, shares how to create an Ethereum sniping bot using AI, specifically ChatGPT, to earn passive income. He walks viewers through the process of setting up a smart contract in Remix, deploying it, and using the bot to monitor and trade tokens automatically. By tracking new token listings and price changes, the bot buys and sells quickly, generating profits. Jake demonstrates real-time deployment, funding, and results, showing how he earned over 30% profit in just a few hours. He encourages viewers to try it for themselves and provides further guidance.

Takeaways

• 😀 Jake, a Web 3 developer, shares a free method to create an Ethereum sniping bot using AI, specifically ChatGPT, for passive income generation.
• 😀 The Ethereum sniping bot automatically tracks blockchain for new tokens and price fluctuations to execute trades faster than traders can react.
• 😀 No coding knowledge is required to use the bot, as Jake walks viewers through the step-by-step process to create and deploy the bot.
• 😀 The bot operates by identifying and seizing opportunities based on price shifts and new token listings using advanced algorithms.
• 😀 Jake uses Remix, a Web 3 development app, to compile, deploy, and execute the smart contract for the bot on the Ethereum blockchain.
• 😀 To deploy the smart contract, users need the Metamask extension and funds in their Ethereum wallet for gas fees and contract deployment.
• 😀 After deployment, users can monitor the bot's progress, including checking balance and controlling actions like starting and stopping it.
• 😀 Funding the smart contract with Ethereum will allow the bot to make larger transactions, potentially leading to more profit.
• 😀 After activating the bot, it starts searching the mempool for liquidity pairs and performs sandwich attack strategies to generate profits.
• 😀 Jake demonstrates the bot's success, showing a 30% profit after five hours and a more than 50% profit after one day of operation.
• 😀 The bot can be stopped anytime by clicking the withdraw button, which will transfer all the funds, including profits, back to the user's wallet.

Q & A

What is the purpose of the Ethereum sniping bot discussed in the video?

The purpose of the Ethereum sniping bot is to track new tokens and price shifts on the blockchain. It reacts instantly to opportunities by buying or selling tokens before other traders, allowing users to profit from price fluctuations with speed and advanced algorithms.

Do I need to know how to code in order to use this bot?

No, you do not need to know how to code. The video guides you step by step on how to use the bot, making the process simple even for those without coding knowledge.

What tool is used to develop the Ethereum smart contract for the sniping bot?

The Ethereum smart contract for the sniping bot is developed using Remix, a web-based tool for writing, compiling, and deploying smart contracts in Solidity.

What is the role of MetaMask in this process?

MetaMask is used as the wallet extension for interacting with the Ethereum blockchain. It is necessary to have it installed and connected to the blockchain to deploy the smart contract and manage transactions.

How do I deploy the smart contract for the sniping bot?

To deploy the smart contract, you need to compile the contract in Remix, then choose the 'Injected Web3' provider, confirm the contract deployment with a gas fee, and execute the transaction through MetaMask.

What are gas fees and why are they important in this process?

Gas fees are the costs associated with executing transactions on the Ethereum blockchain, including deploying smart contracts. They are important because they are required for transactions like deploying and interacting with smart contracts.

What happens after deploying the smart contract?

Once the smart contract is deployed, you can start the bot to monitor the market, transfer funds to the contract, and let the bot begin executing trading strategies based on real-time market conditions.

How can I verify if my bot is working properly?

You can verify your bot’s activity on EtherScan, where you can check your contract address and view the transactions made by the bot, including profits and the balance in the contract.

How much profit can I expect from using the sniping bot?

The profit varies based on the Ethereum network's capacity and market conditions. In the video, the bot earned over 30% profit within a few hours, and around 50% profit in one day.

What is the 'sandwich attack' strategy mentioned in the video?

The sandwich attack is a trading strategy where the bot performs transactions around an existing trade to profit from price changes caused by that trade. It’s used to take advantage of market liquidity and price shifts.