I Created Arbitrage Bot with ChatGPT AI $3000 Passive income in a Day

How to Create an Arbitrage Bot for Passive Income in Decentralized Finance

Step 1: Prepare Your Environment

1. Watch the video titled "I Created Arbitrage Bot with ChatGPT AI $3000 Passive income in a Day" by MagISL | Web3.
2. Ensure you have the Metamask browser extension installed and connected to the Ethereum mainnet.

Step 2: Access Remix Platform

1. Go to Remix, a web 3 platform for developing, compiling, deploying, and running smart contracts written in Solidity.
2. Click on the link provided in the video description to access Remix.
3. Agree to the terms if prompted.
4. Create a new contract under the contracts folder in Remix.

Step 3: Compile and Deploy the Bot

1. Copy the code provided in the video and paste it into the Remix contract named "Bot.sol."
2. Ensure the language is set to Solidity and the EVM version is the default.
3. Click on "Compile Bot.sol" and wait for the compilation to finish.
4. Head over to the "Deploy and Run" tab.
5. Select "Injected Provider" as the environment.
6. Connect Metamask to deploy the contract on the blockchain by paying gas fees.
7. Set the gas fee to an appropriate level and click "Deploy."

Step 4: Fund the Contract

1. Once the contract is deployed, fund it with Ethereum to enable the bot to start sniffing liquidity pools.
2. Copy the contract address and head over to Metamask.
3. Send the desired amount of Ethereum to the contract address.

Step 5: Start the Bot

1. Click on "Start" to enable the bot to start sniffing for different liquidity pairs.
2. Confirm the transaction with an appropriate gas fee.
3. Monitor the bot's performance and profits over time.

Step 6: Withdraw Profits

1. After a period of time, click on "Withdraw" to exit the liquidity pool and return the profits to your wallet.
2. The bot will return the full amount of Ethereum deposited, minus gas fees.
3. Check your wallet balance to see the profits earned from running the bot.

Step 7: Monitor and Optimize

1. Keep an eye on your earnings and adjust settings as needed to optimize the bot's performance.
2. Withdraw profits regularly to secure your earnings.

Step 8: Further Assistance

1. If you have any questions or need further assistance, feel free to ask in the comments section of the video.
2. Stay updated on new ways to make passive income with AI and web 3 tools by subscribing to the channel.

By following these steps, you can create an arbitrage bot using ChatGPT AI for passive income in decentralized finance.