DeFi protocols are very popular, as they handle billions of daily trading volumes.
However, their user interfaces are usually not user-friendly, which may limit their adoption.
This is one of the reasons Telegram trading bots have become popular.
Another reason the Telegram trading bot has become popular is to make money during the meme or degen season; you need to be quick in buying and selling coins before every other person.
But how can you do this efficiently?
More often than not, we see coins that quickly go to a high price and then are dumped massively.
The arrow at the centre is how high Arbitrum launched on the Bybit exchange, and the arrow at the right is the price it launched with.
With the help of a Telegram bot, you could sell to those who set their buy price at a high price at the launch of a token before market conditions make the change their price.
What is a Telegram Trading bot? Why Telegram Trading Bots Are Crypto’s Latest Obsession
What are Crypto bots?
They help traders save time, reduce human errors, and optimize their trading strategies.
Types of bot
There are many crypto bots, each with different features and functions. Some of the common types are:
Trend trading bot: A bot that follows the market’s direction and opens positions based on trend indicators, such as moving averages or trend lines.
Arbitrage bot: A bot that exploits price differences between different exchanges or markets and makes profits by buying low and selling high.
Coin lending bot: A bot that lends borrowers cryptocurrencies on DeFi protocols offering interest rates. The borrower returns the principal plus interest rate after a specified period.
Market-making bot: A bot that provides liquidity to the market by placing buy and sell orders.
Signal bot: A bot that follows other professional traders’ or analysts’ signals or recommendations and executes trades accordingly.
CeFi trading bot
These platforms require users to
- create accounts
- verify their identities
- deposit their funds to trade
CeFi trading bots can access various markets, instruments, and features, such as spot, futures, options, margin, leverage, and order types.
Market makers and institutional investors often use them to move liquidity seamlessly.
A DeFi (decentralized finance) bot is a crypto bot that operates on decentralized protocols such as Uniswap, Sushiswap, or PancakeSwap.
Unlike centralized protocols, these platforms do not require users to create accounts or verify their identity before trading. Instead, decentralized protocols use smart contracts to facilitate peer-to-peer transactions.
Telegram is the home of DeFi bots, as it allows users to trade directly from their wallets without leaving the chat.
Let’s explore the Telegram trading bot.
What is a Telegram trading bot?
A Telegram trading bot is a crypto bot that uses the Telegram messaging app as its interface.
Users communicate with the bot through text commands or buttons and receive updates and notifications through messages. Telegram trading bots can connect to both centralized and decentralized exchanges and execute trades on behalf of users.
How telegram trading bots work
Telegram trading bots use APIs (application programming interfaces) to connect to different exchanges and perform trades based on predefined rules and algorithms.
Users interact with the bots through the Telegram app by sending text commands or clicking buttons in the chat. The bots can also send messages to users to provide updates and notifications about their trades.
How trading bots become so popular
As the crypto space continues to grow by the number of users and advances in creating more sophisticated applications, developers continue to offer innovative solutions to problems and make the crypto space interesting to invest in. Arming investors with tools to help them make a proper investment decision.
Trading bots become so popular because they offer many advantages and benefits to traders who want to trade cryptocurrencies more efficiently and effectively.
Some of these advantages are:
- The user-friendly and secure features of the Telegram app to non-techy users.
- The innovative and diverse functions of telegram trading bots.
- The supportive and engaging communities of telegram trading bot users.
- The lucrative opportunities and returns offered by Telegram trading bots include holding the token of the Telegram trading bot.
Time-saving: The crypto market never sleeps, but we have to sleep as humans. Trading bots can trade 24/7 without requiring human intervention or supervision.
Emotionless: Our emotions often make us trade against ourselves. Professional traders are not exempted. Due to our emotions, we can panic sell crypto, and after a few days, it is pumping. Trading bots trade based on logic and data without being affected by fear, greed, or bias
Speedy: Trading bots execute trades faster than humans by using advanced technology and algorithms.
Scalable: Trading bots can trade multiple markets, instruments, and strategies simultaneously by using computing power and data analysis.
Profitable: Trading bots can optimize trading performance and results by using backtesting, optimization, and risk management techniques
Cost efficiency: You do not have to spend a fortune to set up your trading station(buying multiple computers to access multiple markets). A trading bot allows you to set up trading on multiple exchanges simultaneously on a single laptop without incurring the extra cost of buying computers, monitors and other gadgets.
Risks of Using Telegram Crypto Trading Bots
After talking about the benefits of trading bots, many people are not using them despite their positive testimonials for several reasons.
Some of the risks of using crypto telegram trading bots are:
Security trade-offs: By connecting your wallet to the bot, you expose your private keys and funds to the bot developers or operators, who may be anonymous, untrustworthy, or vulnerable to hacking.
The bot may also access your account without your permission or knowledge and execute unauthorized trades. The Telegram app itself may not have end-to-end encryption, which could compromise your data and communication.
Unauthorized access: You may lose access to your Telegram account or wallet if someone performs a SIM swapping attack, which involves transferring your phone number to a new SIM card and using it to receive verification codes. This could allow the attacker to access your Telegram account or wallet and steal your funds.
Lack of transparency and regulation: Most Telegram trading bots are closed-source and unaudited, meaning you cannot verify their code, logic, or performance. You have to rely on the claims and promises of the bot developers. This puts you in the position of being at their mercy.
Market volatility and unpredictability: Telegram trading bots may not be able to cope with sudden or extreme market movements, such as flash crashes, pumps and dumps, or rug pulls. These events could cause significant losses or liquidations for your trades. Moreover, Telegram trading bots may not have adequate risk management or optimization features, such as stop loss, take profit, backtesting, or diversification. This could result in suboptimal or unprofitable trades. While you give the bot space to do work, you also have to track the market and the activity of the bot, so you don’t lose money.
Top Crypto Telegram Bots, their features and how to set up an account.
- Wagie bot
- Banana Gun
Features of Unibot and how to set up and account.
– Limit orders: You can set a specific price at which you want to buy or sell a token on DeFi protocols. The bot will execute the order when the market price reaches your desired price. This way, you can avoid slippage and save on gas fees.
– Mirror Sniper: You can copy the trades of other better traders or wallets on DEXes. The bot will monitor the transactions of the target address and execute the same trades with the same parameters as soon as possible. This way, you can benefit from the strategies and insights of other pros.
– Fail Guard Sell: You can protect your sell orders from failing due to insufficient liquidity or price changes. The bot will automatically adjust the slippage and gas fees of the sell order to ensure its execution.
– Private Transactions: With Unibot, you can hide your transactions from front-running bots and malicious actors on any blockchain. The bot will encrypt and broadcast your transactions to the network without revealing their details until they are confirmed.
Front running: With Unibot, you can copy a whale’s address with the purpose of Front-running it. For any token, the wallet this whale wants to buy, Unibot picks the token and ensures you buy the same token before the whale. This involves paying a higher gas fee. You then sell the token at a higher price after the order drives up the market price.
Watch this video to learn how to set up a Unibot Telegram bot.
How does Unibot make its money?
Trading the Unibot token attracts a 5% tax that goes to the tax pool. 1% is allocated to the liquidity provisions, and 1-2% goes to token holders. 2% goes to the team and their operating expenses. It is important to note that the Unibot token is different from the gas fee paid when using Unibot to buy and sell tokens on Uniswap V3. You need Ethereum for the gas fee.
Features of Maestro Bot and how to set up an account.
– Lightning fast: You can buy new tokens on different blockchains (Binance Smart Chain, Ethereum, Arbitrum, and Solana Raydium) as soon as they are launched or listed on Uniswap or PancakeSwap. The bot is fast and executes trades before other users or bots, giving you an advantage in price and profit.
– Easy liquidity, launch and method snipping: You can choose different types of sniping strategies based on the new tokens’ liquidity, launch time, and method. For example, you can snipe tokens that have a fixed liquidity amount, a countdown timer, or a specific contract function to enable trading.
– Trading terminal with high-end functions: Maestro bot can connect to multiple crypto dexes through APIs and allow you to execute trades, monitor markets, analyze charts, and manage your portfolios from one interface.
With the Maestro bot, you can set limit orders, stop losses, trailing stops, take profits, etc.
– Anti-rug protection to save your investments: This is one of the selling points of the Maestro bot. This feature allows you to protect your investments from rug pulls and scams that are common in the crypto space. The bot will check the token contract for any malicious code or functions that can drain the liquidity pool, mint new tokens, or transfer ownership. The bot also monitors the token price and liquidity for any sudden drops or changes.
– Effortlessly Pinksale presales entries: You can participate in presales of new tokens that are hosted on Pinksale. The bot automatically fills the presale form with your details and submits it as soon as it starts. The bot can also claim the tokens for you when the presale ends.
– Powerful call channel sniping: This allows you to copy and enter trade signals and calls from other professional crypto traders on Telegram. The bot will monitor the call channels that you’re subscribed to and execute the trades based on the instructions given by the callers. The bot will also verify the credibility and performance of the callers using historical data and statistics.
– Accessible on any device that supports Telegram: You can use this bot on any device that can run Telegram, such as computers, phones, tablets, etc. You do not need to install any additional software or hardware to use the bot. The user can also switch between devices without losing any data or settings.
Setup your Maestro Sniper Bot by watching this video
How does Maestro Make their money?
They charge a 1% fee for each purchase and sale of any token. They also have a monthly premium service of $200 for advanced traders.
Features of Moonbot and how to set it up
Moon Bot is a trading terminal. The platform allows manual and automated trading on Binance, Huobi and Bittrex. This is unlike Unibot and Maestro bot, which is optimized to use DEXes like Uniswap and PancakeSwap.
It uses tick data and displays each order on the chart. You can execute orders on these exchanges with a click or activate an auto strategy.
Some of the features of the Moon Bot trading terminal are:
– It supports various trading strategies, such as scalping, swing, arbitrage, and market making.
– It has a Telegram bot that provides real-time notifications, reports, and signals.
– It has a token called MBC, which is used to access premium features and services.
– It has a user-friendly interface and a customizable dashboard.
Learn how to set up a Moon-bot account on your Pc
How do they make their money?
There is a premium version of Moonbot.
Features of Mizar bot and how to set it up.
Mizar is a trading bot that allows you to access various decentralized and centralized platforms and execute trades using automation.
You can use Mizar to trade crypto using your own strategies or follow other successful traders with its advanced copy-trade features. You can also enjoy transactions at rocket speed and avoid MEV bots, thanks to its private Ethereum nodes.
Learn how to set up your Mizar account
How does Mizar Sustain its business?
If you use the Mizar CEX tool to execute your trades, you pay 0.075% or more in trading fees.
If you use their DEX tool, you pay 1% on a trade you execute, whether you’re buying or selling on the platform.
Mizar has a token with a ticker ($MZR)
Features of Wagie Bot and how to set up an account.
Wagie Bot is a versatile bot that operates on its own proprietary private infrastructure and supports multiple networks, such as Ethereum, Binance Smart Chain, and Arbitrum.
It empowers users to perform a wide array of actions, such as
- copy trading
- advanced stop loss and take profit
Wagie Bot simplifies these tasks via a user-friendly interface, reducing the typical complexity and learning curve.
It offers access to advanced features through Telegram and Discord. All the actions you perform through the Wagie Bot are executed instantaneously. Furthermore, Wagie Bot offers detailed prompts, notifications, and confirmations for all your transactions and trades.
Learn how to set up and use Wagie Bot.
How does Wagie Bot sustain its business model?
Wagiebot charges a 4% buy-and-sell tax fee on their token, partially distributed to their token holders. They also generate revenue from Ethereum gas fees for users who use Wagiebot.
Features of Banana Gun and how to set it up.
Banana Gun is a Telegram bot that allows you to snipe upcoming launches or safely buy tokens already live on the Ethereum network.
It has a variety of features, such as:
– Limit orders: You can set a price target, and the bot will execute the trade when the price reaches that level.
– Auto sell: You can set a profit target, and the bot will sell your tokens automatically when the price reaches that level.
– Anti-rug: The bot will detect and prevent you from buying tokens that have malicious code or are likely to be scams.
– Re-org protection: The bot will protect you from losing your tokens due to blockchain reorganizations or forks.
– MEV/private transactions: The bot will use advanced techniques to reduce the risk of front-running or sandwich attacks by other traders.
Setting up your trading account on Banana Gun is straightforward.
Go to the Banana Gun website.
Choose a manual or auto sniper trading strategy and follow the guide to start trading.
How does Banana Gun sustain its business?
Banana Gun has its token. It charges a fee of 0.5% for manual buys and 1% for auto snipes.
Features and how to set up lootbot.
Lootbot is an airdrop farming bot.
Lootbot provides a fast solution for farming airdrops at scale in exchange for a fee.
How does it work?
- the bot generates wallets for users
- users transfer $ to these wallets
- the bot starts farming
Its strategy is to make as much on-chain interactions as possible.
Bridge, swap, NFT minting, & more
$LOOT holders will earn a % of the bot revenue.
Some of the features of LootBot are:
– It supports various chains and protocols like Ethereum, Binance Smart Chain, Polygon, Solana, and more.
– It allows you to discover, join, and track airdrops from different sources, such as websites, social media, or other bots.
– It provides a secure and convenient way to interact with smart contracts and claim rewards.
– It offers tips and insights on maximizing your airdrop earnings and avoiding scams.
Learn how to set up a lootbot.
How does Lootbot sustain its business?
LootBot makes money by charging a small fee for each airdrop you get rewarded through the bot. The fee is deducted from your reward amount and is used to cover the operational costs and development of the bot. The fee varies depending on the chain and protocol of the airdrop, but it is usually around 1% to 5%.
General strategy for making money with bots.
There are many ways to make money in crypto with bots. Still, one general strategy is to use a bot that can execute trades automatically based on predefined rules and market conditions. Some of the benefits of using a bot are:
- It can trade 24/7 without human intervention or emotions.
- It can analyze large amounts of data and execute trades faster than humans.
- It can exploit arbitrage opportunities across different exchanges and platforms.
- It can diversify the portfolio and reduce risk by using different strategies and assets.
- You can outsource repetitive tasks to bots.
Features of 3comma and how to set up an account.
3Comma Telegram bot is a service that allows you to trade cryptocurrencies using automated bots and signals from the 3Commas platform.
Some of the features of the 3comma Telegram bot are:
– You can create, edit, and delete bots using simple commands.
– You can monitor your bots’ performance and get notifications about their deals.
– You can access the marketplace and subscribe to signals from professional traders.
– You can use paper trading to test your strategies without risking real money.
Learn how to set up a 3comma account here
How does 3comma sustain its business?
3comma Telegram bot makes money by charging a monthly subscription fee for using its service. The fee depends on your plan: pro, beginner or expert. Each plan offers different features and limits for trading.
Here are some possible answers to the FAQs:
Is Maestro bot free?
The basic utility is free, while sophisticated ones are paid for. For instance, to buy and sell tokens, users only have to pay a gas fee and a 1% tax fee from the contract. You have to pay a premium to get access to the sniper tool.
Are bots illegal in crypto?
Bots are not illegal in crypto as long as they do not violate the terms of service of the exchanges or platforms they operate on.
What is a snipe bot crypto?
A snipe bot crypto is a computer program that automates buying or selling a cryptocurrency in less than a second.
Can a trading bot make you a millionaire?
A trading bot can make you a millionaire if you have a lot of capital, a good trading strategy, and a favourable market condition. However, this is not a realistic scenario for most traders. Trading bots are not a guaranteed path to becoming a millionaire. They have limitations, risks, and challenges that require constant attention and adjustment.
Can you lose money with crypto bots?
Yes, you can lose money with crypto bots if you use them incorrectly or aggressively. Crypto bots are not infallible; they can make mistakes or encounter technical issues affecting their performance.
How successful are crypto bots?
Crypto bots can be successful tools for traders because they can automate and perform tasks with precision and efficiency. However, the success of crypto bots depends on many factors, such as the bot’s quality, the trading strategy, the market conditions, and the user’s involvement.
Are bots good for trading?
A bot is good for the following tasks. They can trade 24/7, remove emotional bias from trading decisions, increase transaction speed, and analyze vast amounts of data simultaneously. However, the skill of trading efficiently shouldn’t be left for bots to do. Most often, it doesn’t end well.
What is a Binance bot?
A Binance bot is a trading bot that connects to the Binance exchange and executes trades on behalf of users.
What is ethereum bot?
An Ethereum bot interacts with the Ethereum blockchain network and performs tasks such as trading, lending, arbitraging, market making or algorithm trading.
What are the different types of crypto bots?
We have Arbitration bots, market-making bots, algorithmic trading bots, technical trading bots, and profile automation bots.
How does the Maestro bot work?
Maestro bot is a sniper bot that allows users to buy new tokens as soon as they are launched on decentralized exchanges like Uniswap. Maestro bot uses advanced features such as LP sniping, God mode, anti-rug, copy trade, and call channels to help users get in early and avoid scams. Maestro bot also has a presale feature that allows users to participate in token presales easily.
How do you use a sniper bot?
You need to set up your wallet, choose your settings, paste the token’s contract address you want to snipe and wait for the bot to execute the trade. You can also use features such as anti-rug or copytrade to enhance your sniping experience.
How do bots make money?
Bots make money by performing tasks that generate income for their users or owners, such as buying and selling cryptocurrencies or other assets based on market data and signals.
How do bot accounts work?
Bot accounts are computer programs that use artificial intelligence to trade cryptocurrencies automatically. They can analyze market data, execute trading strategies, and optimize profits.
What is the fastest crypto sniper?
Some popular and reputed crypto sniper bots are Maestro, Unibot, and Flashbot.