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Creating an Ethereum Sniping Bot

Aug 23, 2024

Ethereum Sniping Bot Tutorial

Introduction

  • Aim: Create an Ethereum sniping bot using AI (ChatGPT).
  • Purpose: Earn daily passive income by monitoring blockchain for new tokens and price changes.
  • Advantage: Swift actions on detected opportunities, benefiting from price differences.

Bot Functionality

  • Monitors the blockchain for:
    • New token listings
    • Significant price movements
  • Utilizes smart algorithms for trading decisions.

Getting Started

  1. Code Generation

    • Use ChatGPT to write code for an Ethereum smart contract for sniping.
    • Example command: "ChatGPT, write me the code for a smart contract on Ethereum to automatically hunt for sniping opportunities."
  2. Using Remix

    • Remix: A web3 application for developing, compiling, and deploying Smart contracts coded in Solidity.
    • Ensure you have the MetaMask browser extension installed and connected to the Ethereum mainnet.
    • Create a new contract file named bot.sol in Remix.
  3. Code Setup

    • Copy the code generated by ChatGPT into bot.sol.
    • Check and follow addresses for wrapped Ether tokens (lines 15 and 16) from Etherscan.
    • Important: You don’t need to hold any wrapped Ether.

Compiling and Deploying the Contract

  1. Compile Contract

    • Use Solidity version 0.6.0 for the contract.
    • Ensure language is set to Solidity and EVM version to default.
  2. Deploy the Contract

    • In Remix, select "Injected Web3" as the environment.
    • Confirm the contract deployment by paying gas fees.
    • Set gas fee to high for faster transactions.
    • Wait for confirmation of deployment.

Contract Functions

  • Functions include:
    • Start: Begins monitoring the markets.
    • Withdraw: Stops trading and returns funds to your wallet.

Funding the Contract

  • Fund your contract with Ethereum for trading.
  • More capital allows for larger trades and potential higher profits.
  • Confirm funding using Etherscan.

Monitoring Profits

  • After 12 hours, check the bot's performance.
  • Example: From 1 ETH, profits could be around 0.31 ETH in 12 hours.
  • Continue running the bot for additional profits; example: 1.6 ETH after another 12 hours.

Withdrawing Profits

  • Click the withdraw button to stop the bot and return total Ethereum (initial deposit + profit) back to the wallet.
  • Set gas to high for faster confirmation.

Conclusion

  • Potential earnings: 3-6 ETH or more in profitable weeks.
  • Encourage viewers to share their results and subscribe for more content on passive income strategies using web3 tools.