Recently , Telegram Bots have caused heated discussions in the cryptocurrency community. They are not just simple automatic reply tools, but have evolved into powerful financial technology tools.
A key feature of these bots is that they can connect directly to users’ crypto wallets to enable all types of transactions, greatly simplifying the cryptocurrency trading process. Users can complete purchases, sales, transfers and other operations within Telegram through simple commands.
Take Unibot, one of the most popular trading robots, as an example. It grew from a low of $2.46 in May to a high of over $200 in August, a nearly 100-fold increase, leading a wave of Telegram bots.
However, the current price of Unibot has dropped to below 50 US dollars, and the prices of other targets have also dropped a lot from their high points. It will take time to verify whether it will evolve into a new track and explode again in the future. The following provides readers with a detailed introduction to what Telegram bots are? What are the advantages and disadvantages and an introduction to common projects.
What is Telegram Bot?
Telegram bots, as the name suggests, are applications that help you perform various functions on the Telegram platform. They provide flexible interactive interfaces for users to complete various tasks or provide services, such as payment processing, custom tool development, game production and assisting social network communication.
Due to the open source nature of Telegram, since the rise of the cryptocurrency market, robots developed based on Telegram have gradually increased, such as news robots that publish important news, robots that track the dynamics of major blockchain players, or token fluctuation alert robots. In the past, these robots were mainly free or subscription-based service users.
Currently, in addition to Telegram bots, they are also widely used in platforms such as Discord or X (Twitter). The most popular robots recently are developed specifically for the needs of the cryptocurrency industry. Commonly used robots in the crypto include: trading, coin listing sniping, following orders, grabbing airdrops, etc.
What are the advantages of TelegramBot?
Telegram Bots provide many convenient advantages, making them very popular in various application scenarios:
- Versatility : Telegram bots can perform a variety of tasks, from simple automatic replies to messages to complex tasks such as conducting online polls, managing groups, executing automated transactions, and more.
- Easy to develop and integrate : Telegram provides a powerful set of APIs that allow developers to easily create and maintain bots. These APIs support multiple programming languages and facilitate integration with other applications and services.
- Broad user base : Since Telegram is a popular messaging platform (with over 700 million users worldwide), bots can easily reach out to a wide user base.
- No additional installation required : Users do not need to download or install additional applications to use the robot, which lowers the barrier to entry.
What are the risks with TelegramBot?
Although using Telegram Bot brings many conveniences, it also comes with some risks. The following are the main types of risks and their potential impacts:
- Privacy and data security risks : Bots may collect and store user data, including personal information and communication records. If the developer or manager of the robot does not handle this data properly, it may lead to privacy leaks or improper use of the data.
- Property security risk : While configurations of Telegram bots vary, they typically require users to generate a dedicated wallet or connect to an existing wallet. In either case, a bot could potentially gain access to a private key, which is a potential security risk.
- Fraud and scams : Unscrupulous developers may create bots that pretend to be legitimate services to commit fraud. These bots may attempt to steal users' sensitive information such as passwords, payment information, or other personal data.
- Unexpected behavior : Due to programming errors or design flaws, robots may exhibit unexpected behavior, which may cause user distress or data loss.
- Dependency and Availability Risks : Over-reliance on a specific robot service may result in users being at risk of operational disruption when the robot is unavailable or out of service.
To reduce these risks, users should select and use bots carefully to ensure the trustworthiness and security of their sources. At the same time, developers and managers should follow the best security practices to protect user property security and data privacy.
Common TelegramBot in the crypto
Transaction type: Unibot
Unibot is a trading tool robot based on Telegram. Users can use Telegram to communicate with the robot to issue trading instructions to complete the trading activities of on-chain tokens on Uniswap, such as:
- Token trading
- limit trade
- Copy trading
- new currency sniper
- privacy transactions
Extended reading: New narrative of crypto investment in bear market: Unibot project analysis
Optimized ambush airdrop: Lootbot
Lootbot is a bot that focuses on executing potential airdrop interactions. It is based on the Telegram platform and acts as a simplified front-end for several chains. It deploys and automatically executes interactive behaviors on the chain through dialogue.
It can save users a lot of time and energy on highly repetitive work, and is designed with an anti-witch mechanism to achieve the goal of efficient airdrops. At present, it mainly supports the actual interaction of Zksync and Linea. In the future, it will also enrich the interactive support of Layerzero, Scoll, Base and other chains. The interactions that can be done include bridge, swap, NFT mint, etc.
Extended reading: Automatically earn airdrops! Unibot and LootBot have become popular recently. What are these robot projects?
In addition to the above categories, there are some other specialized robot tools such as:
- Collab.Land : A robot focused on community management.
- Bridge Bot : Provides cross-chain functionality, allowing users to transfer assets between different blockchains.
- WallyBot : A wallet analysis tool for tracking and analyzing cryptocurrency wallets.
- NeoBot : Specializes in crypto analysis and tracking, helping users stay informed about the market.
- TokenBot : Mainly used as a trading tool within the community to provide trading information and support.
