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Creating an Ethereum Sniping Bot

Aug 21, 2024

Ethereum Sniping Bot Tutorial by Jacob

Introduction

  • Jacob shares a video on how to create and operate an Ethereum sniping bot using AI-powered ChatGPT.
  • The bot generates passive income by monitoring the blockchain for new tokens and price changes.

Key Features of the Sniping Bot

  • Monitors Blockchain: Identifies new tokens and significant price changes.
  • Quick Trades: Buys/sells tokens quickly, capitalizing on price differences.
  • Algorithmic Trading: Uses sophisticated algorithms to make trading decisions.
  • User-Friendly: No coding knowledge required to use the bot.

Getting Started

  1. Code Generation with ChatGPT:
    • Request ChatGPT to generate code for a smart contract to hunt for sniping opportunities.
  2. Remix App:
    • Use Remix to develop, compile, deploy, and launch smart contracts.
    • Install MetaMask browser extension and connect to Ethereum mainnet.

Setting Up the Smart Contract

  • Create Contract:
    • Name the contract bot.sol under the contracts folder in Remix.
  • Paste Code: Copy code generated by ChatGPT into bot.sol file.
  • Monitor Addresses: Use EtherScan to follow specific wrapped ether addresses.

Compiling and Deploying the Contract

  1. Compile the Contract:
    • Use Solidity version 0.6.0 to match the contract.
    • Click "Compile bot.sol" and wait for confirmation.
  2. Deploy the Contract:
    • Select "Injected Web3" as the environment to deploy.
    • Confirm deployment by paying gas fees.
    • Set gas fees to high for faster transaction processing.

Funding the Contract

  • Fund the smart contract with Ethereum for trading purposes.
  • The amount funded affects the size of trades and potential profits.

Running the Bot

  • Click "Start" to enable the bot for monitoring the market and finding liquidity pairs.
  • Set gas speed to high for transaction efficiency.

Checking Profits

  • After 12 hours, Jacob checks profits and sees a 31% increase in his Ethereum balance.
  • After 24 hours, the balance increases to over 1.6 Ethereum.
  • The bot can continuously generate profit until the user chooses to withdraw.

Withdrawing Profits

  • To stop trading, click the "Withdraw" button.
  • The bot returns the total Ethereum (initial deposit + profit) back to the user's wallet after confirming the transaction.

Conclusion

  • Jacob shares personal experiences of making 3 to 6 Ethereum over weeks with the bot.
  • Profits may fluctuate over time.

Full transcript