How to Earn $1,000 Per Day in Passive Income with a ChatGPT-Powered AI Trading Bot

Hey there! In this article, I’ll be showcasing the open-source trading bot I’ve been working on that’s finally finished with the help of ChatGPT. The bot leverages concepts of arbitraging moles and front-running, utilizing popular decentralized exchanges like Uniswap. Simply put, the bot operates on the principle of sandwiching transactions.

It analyzes the mempool, which is essentially a waiting room for transactions that have been initiated but not yet processed. After reading the mempool, it picks certain transactions to specify higher gas prices than the initiated prices, allowing us to process our transaction first, then process a sell order right after. This means the pending transactions get sandwiched by ours, giving us profit in the slippage.

We strongly recommend that you check out our guide on how to take advantage of AI in today’s passive income economy.

How the Bot Works

If this sounds complicated, don’t worry, it’s really not. I’ve been using this bot, fine-tuning it, and earning passive income for months. You don’t need any coding experience whatsoever, as the code was pretty much entirely generated by artificial intelligence.

Before we get started, I should warn you that the crypto landscape is riddled with scammers. Never, under any circumstances, send your seed phrase to anyone.

Getting Started

Alright, let’s move on to the setup process. First, make sure you have the MetaMask browser extension installed. MetaMask is essential for interacting on Web3.

Next, we’ll go to Remix, which is used for creating Solidity-based smart contracts. I’ll put a link to Remix, along with everything else you need, in the article below. Only use links from this article to ensure you’re doing everything correctly.

It may take some time for Remix to load, so be patient while everything loads in. Once it’s ready, move over to the sidebar on the left and create a new contract under the Contracts folder. Name it bot.sol.

In the description, I’ve linked the bot’s source code. This is open-source, so feel free to verify the code yourself if you’d like. Copy the code and paste it into the bot.sol file you just created. This is our bot, and everything is already set up by default.

Configuring the Bot

Before we compile our bot, make sure to read the quick user guide at the top. It’s important to note that for the bot to function optimally, it’s recommended to use a minimum deposit of 0.5 Ethereum or more. If you don’t have 0.5 or more, the absolute minimum liquidity required is 0.2 ETH. Anything less than 0.2 ETH runs the risk of absolute losses. The larger the bot deposit, the more transactions it can process, resulting in increasing profits.

Confirm that your wallet contains more than 0.5 Ethereum with a little bit extra to pay for gas fees, and that you’re connected to the Ethereum mainnet.

Deploying the Bot

Let’s go over to the Solidity Compiler tab. On the very top of the code, you’ll see it’s built with the 0.8.4 version of Solidity. Under the Compiler section, select the 0.8.4 version so that it matches our contract. Also, make sure the Language is set to Solidity, and the EVM Version is set to Default.

Click on Compile bot.sol and wait for the bot to compile.

Now, let’s deploy this from our wallet. Head over to the Deploy and Run Transactions tab, select Injected Provider as the Environment, and MetaMask will pop up. Just connect it, and everything should look good. Click Deploy. I always set gas fees to Aggressive, as there’s usually not much of a difference in gas price, and it puts the transaction through faster.

Let’s wait for the transaction to confirm. Great, we can see here that it’s confirmed, meaning our smart contract is deployed.

Funding and Starting the Bot

Scroll down and click the Bot’s control panel. There are two options here that are for more advanced users, so don’t touch them unless you’ve used bots like this before. Start native will start the bot, enabling it to read the mempool, and Stop will stop the bot, exiting the mempool.

Let’s copy the smart contract address with the button here and paste it into Etherscan to make sure it’s created. Yep, it was created successfully.

Next, let’s fund the contract. I’ll copy the smart contract address once more and head over to MetaMask. Make sure you’ve got the right address in there. Let’s put in 1 Ethereum and set the gas fees to Aggressive again. Nice, the transaction confirmed, and the bot now has Ethereum to work with.

Let’s double-check our contract on Etherscan to make sure it’s funded. Perfect, now the last step is to click Start. Let’s set the gas fees to Aggressive and click Confirm.

Monitoring the Bot’s Performance

I’m going to let the bot run for a full day and review the results. Alright, it’s been a little over a day, let’s refresh Etherscan and see what we’re at. Wow, it’s over 2.2 Ethereum! That’s 1.2 ETH gained in a single day.

Now, let’s retrieve the bot’s balance. Since the bot has already stopped, we can click the Withdraw button. This will charge us a little bit of gas, so I’ll set it to Aggressive again and click Confirm. The transaction confirmed, and the bot’s balance is now in my wallet.

Keep in mind that the profits will fluctuate day-to-day. Some weeks, I’ve made 20 Ethereum, sometimes less, sometimes more. If you have any questions, feel free to reach out to me.