What Is A Crypto Telegram Bot?
A crypto telegram bot allows users to conveniently trade cryptocurrencies or do tasks on the blockchain within the Telegram messaging app. By creating a new crypto wallet or linking their existing one, users can seamlessly execute trades, farm airdrops and more through the familiar interface of Telegram.
Compared to decentralized exchanges (DEXs), Telegram bots offer a simpler and more user-friendly experience. They also have notable advantages like increased speed and reliability. With quicker swaps and executions, users can trade cryptocurrencies without missing potential opportunities.
Here is a great YouTube video by Dynamo DeFi:
Types Of Telegram Bots
1. Trading and Sniping Bots
Sniping bots like Unibot and Maestro let you buy, sell or monitor cryptocurrencies on decentralized exchanges (DEXs) using predefined strategies. You can set stop-loss and take-profit levels and many other advanced features from the convenience of a simple Telegram interface. You can also pickup newly minted ERC-20 tokens, participate in flash sales, and find other opportunities in the market through various automations.
2. Airdrop Farming Bots
Airdrop farming bots like LootBot, help users maximize their earnings from cryptocurrency airdrops. These bots can automatically participate in airdrop campaigns with multiple wallets, increasing the chances of receiving free tokens or rewards.
3. Analytics Bots
Analytics bots provide valuable insights into users' cryptocurrency wallets. They offer features such as portfolio tracking, price alerts, and market analysis. Users can get notifications when something happens and receive comprehensive data at their fingertips to make more informed decisions.
Top Crypto Telegram Bots
Here is a non-exhaustive list of the some popular crypto telegram bots. Keep in mind, these projects are still new, so it's important to do your own research and be aware of the risks. For example, we don't know if they have access to your private keys.
Unibot is the largest crypto telegram bot with a token. According to its website, it's able to execute trades 6x faster than Uniswap. It's features include limit orders, copy trading, private transactions and more. It also has revenue sharing and sniping, which allows you to instantly purchase new ERC-20 tokens.
LootBot.xyz performs on-chain tasks to help enter crypto airdrops in just a few clicks. Just fund your wallet and it will bridge funds, make swaps, mint NFTs, and complete other airdrop tasks to help you earn potential rewards.
It can farm airdrops for up to 10 crypto wallets and according to its documentation, it acts like a real 'human wallet' to avoid sybil-detection (getting blacklisted). It also transacts when gas-fees are lowest to help you save on fees.
Maestro offers 3 main bots with a wide range of trading features, including a Sniper Bot, Whale Bot, and a wallet tracker. It also has "anti-rug" protection to protect your investments.
It's available cross-chain allowing you to trade on ETH, BSC, ARB, and SRG and pulls liquidity from multiple DEXs. While Maestro does not have its own token, it is widely used and generates substantial fees according to data from DefiLlama.
Check out these articles and resources to learn more about this emerging trend:
- CoinGecko: What Are Telegram Trading Bots In Crypto?
- Binance Research: Telegram Bots - Exploring the Landscape
- Decrypt: Telegram Bot Tokens Surge Toward $100M Market Cap
- CoinGecko: Crypto Telegram Bots Category
- CryptoBanter: How Telegram Crypto Bot Traders Are Making Millions
Why Are People Using Crypto Telegram Bots?
These bots simplify the trading experience, allowing users to trade anytime, anywhere, swiftly execute trades, create automated strategies, and access real-time market data and analysis.
What Are The Drawbacks?
The key drawbacks are security concerns, dependence on third-party providers, and potential technical issues.
How Do You Choose Which Bot To Use?
It's important to consider factors such as security, reputation, features offered, community feedback, and the bot's track record. Thoroughly research and compare different bots, assess their capabilities, and consider your own trading style and objectives before making a decision.