Would-be crypto investors always want to know how to make it less risky and simpler.
So what are Telegram crypto bots, and how do they work?
More importantly, are they safe to use?
What Are Telegram Crypto Bots?
The bots offer an interactive experience for users to trade cryptocurrencies and execute automation and strategies within Telegram.
A Telegram trading bot eliminates most of the hassle.
How Do Telegram Crypto Bots Work?
Let’s assume you’ve discovered a new token with growing potential and want to buy some.
Soon enough, you have tokens in your crypto wallet.
What would have traditionally taken at least five minutes happens in seconds.
Telegram crypto trading bots are designed to perform different tasks on different cryptocurrency platforms.
For instance, one bot might make fast token swaps, while another can be designed to farm airdrops.
Are Telegram Crypto Bots Safe?
While Telegram crypto bots are convenient, they carry some risks.
This is undesirable because you must give the bots access to your wallet addresses to execute trades.
And as long as the bots are connected to your addresses, the developers can access your funds.
As they say: not your keys, not your coins.
Also, they don’t have code audits by third parties.
These characteristics make them vulnerable to malicious activities, which could result in loss of funds.
It is, therefore, necessary for users to exercise caution when dealing with these bots.
Do your research to identify trustworthy projects.
Create crypto wallets specifically for the bots.
Lastly, only invest what you’re free to afford to lose.
How to Use a Telegram Crypto Bot
Using Telegram crypto bots is easy.
Simply visit the official site of the project and connect your Telegram account.
For illustration, let’s connect to Unibot.
In this case, follow the prescribed process to get started.
It has a user-friendly interface enabling quick market trades through simple Telegram commands.
Its focus is simplifying the complex process of airdrop farming.
3.MEVFree
As the name suggests, MEVFree is a Telegram bot that protects traders fromMEV bots.
5.ChainGPT
ChainGPT is like a ChatGPT for the blockchain and cryptocurrency space.
Notably, ChainGPT offers a free plan for anyone to test its services.
Each of these bots has a native token to facilitate transactions and encourage investment and participation in the project.
Investing in these bots seems like a good strategy for seasoned traders.
However, as you’re about to discover, these bots are also risky.
However, they come with a catch: you must give up your keys.
However moral the developers are, they can’t guarantee your tokens' safety.
So, use these bots, knowing you could lose your funds.
This necessitates precautionary measures like creating separate trading-specific addresses.
