Creating an Ethereum Sniping Bot

Aug 26, 2024

Ethereum Sniping Bot Tutorial

Overview

  • Purpose: Create and run an Ethereum sniping bot using AI-powered ChatGPT.
  • Benefit: Earn daily passive income by monitoring blockchain for new tokens and price changes.
  • Advantage: The bot acts quickly before most traders notice opportunities, enhancing profit potential.

Key Concepts

  • Sniping Bot: Monitors blockchain for new tokens and significant price movements.
  • AI Integration: Uses algorithms to make trades automatically.

Steps to Create the Sniping Bot

  1. Ask ChatGPT for Code:

    • Request code for a smart contract that hunts for sniping opportunities.
    • ChatGPT generates code that is efficient.

  2. Using Remix:

    • Tool: Remix is a web application for developing, compiling, deploying, and launching smart contracts (written in Solidity).
    • Setup:
      • Install MetaMask and connect to Ethereum mainnet.
      • Agree to the terms in Remix if prompted.
    • Create Contract:
      • Name it bot_doso.
      • Paste ChatGPT’s code into the contract file.
      • Check lines 50 and 51 for specific addresses on Etherscan (wrapped ether tokens).

  3. Compile Contract:

    • Set the compiler version to 0.6.6 (matching the contract).
    • Click compile and ensure there are no errors.

  4. Deploy Contract:

    • Go to "Deploy and Run Transactions" tab.
    • Select "Injected Web3" environment.
    • Pay gas fees for deployment.
    • Set gas fee to high for faster processing.
    • Wait for transaction confirmation.

  5. Fund Contract:

    • Fund the contract with Ethereum depending on desired trading volume.
    • Confirm the amount in the contract is correct via Etherscan.

  6. Start the Bot:

    • Click "Start" to enable market scanning.
    • Set gas speed to high and confirm.

Performance Check

  • Profitability:
    • After 12 hours: 1.31 ETH profit (31%).
    • After 24 hours: 1.6 ETH total (over half deposit recovered).

Withdrawal Process

  • Withdraw Profits:
    • Click "Withdraw" to stop the bot's trading operations.
    • Transaction incurs a small gas fee (set to high for faster processing).
    • Check MetaMask for updated balance after confirmation.

Conclusion

  • Realized Earnings: Profits can vary; noted gains from 3 to 6 ETH in favorable weeks.
  • Engagement: Encourage viewers to share their results and subscribe for more passive income strategies.