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Flying Cars In 2023? Instead Telegram Trading Bots💬

Telegram Trading Has Taken On-Chain Trading By Storm

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The R Roundup
August 19, 2023

Flying Cars In 2023? Instead Telegram Trading Bots💬

Key Takeaways🍿:

  1. Telegram trading bots are becoming increasingly popular due to their ease of use and technical capabilities🤌

  2. There are security risks associated with using Telegram trading bots, such as the potential for hacking or losing access to funds🚨

  3. Unibot is one of the leading Telegram trading bots, offering users a 20% discount on transaction fees and 25% of transaction fees from referrals🤖

Those attempting to predict the future back in the 1950s probably expected flying cars in 2023. Instead, Telegram trading bots print more Xs than the New York stock market. Whether it's a parallel universe or just a shift in trading methods, there is something that can’t be ignored.

The hype has resulted in telegram trading bot tokens surging near $255m in marketcap and evidently, more and more traders are choosing to automate and simplify their DEX trading strategies.

Bot trade volume has been on an exponential growth which has been accompanied by fees in $ETH being collected increasing and overall buy and total volume.

It starts to get even more interesting when the giants start paying attention and recently Binance published a report discussing the landscape of telegram trading bots.

In case that was the top signal, this article probably won’t come out, if not, let’s do our own digging and find out what the hell the hype is all about.

The Technicalities

I bet you are wondering what trading on Telegram looks like & it certainly isn’t a built-in application on the app. Talented developers have coded Telegram trading bots that automate the process of buying & selling tokens via a number of networks. This process has led to people printing over 100s of Xs in returns typically associated with the trading of memecoins. A number of commands dictate the actions of the bot letting you track your trades, refresh gas prices, check the chart & much more.

Why has such a simple but technically advanced product taken over the world of decentralized trading?

The answer is simple. It is easy.

The process of trading on-chain has become super technical with slippage, high txn fees & overcomplicated UIs/UXs that degens have gone for an easier option. Throughout history, technological adoption has pivoted towards simplifying human activities and after testing Telegram trading bots, we can confirm they are SUPER easy.

But Moment

There are barriers to entry that need to be addressed. The process of trading with these Telegram bots often comes with the user sending a contract address for the desired token they would like to buy with a prompt of how much $ETH they would like to send.

The crypto expert, can easily find a contract address and keep it moving, your average Joe not so much. Now your average Joe probably isn’t using a telegram trading bot anyways but the principle remains that on-chain trading still doesn’t consider the average user.

Another concern is the fact that there are a number of security risks in putting capital onto a wallet via a bot. There is no guarantee that these bots have undertaken security audits as most telegram trading bots are not open-source and they want to refrain people from building the same product. Social media platforms are also not the safest way to interact with crypto if your telegram ever got hacked or you lost access, essentially those funds you deposited onto the bot would be out of your control for that period of inactivity.

As much as telegram bots make it way easier than a Uniswap per se, there are still challenges that can even confuse your crypto trader. Telegram trading bots have advanced settings such as Anti–Rug, Anti-MEV, and Degen Mode which may not be as familiar to the operations on a DEX.

 

Industry Landscape

Telegram trading bots are not just for on-chain transactions. Some projects have developed a process to allow their users to build AI images & hunt airdrops in some cases!

Some of the top telegram trading bots include Mizar, Unibot, Maestro, Wagie Bot & Banana Gun.

Currently, the entire market sector sits at a $255m marketcap with Unibot leading the way at a $161m marketcap. Whilst the narrative is considerably new, there has been a market-wide focus that has allowed these trading bots to amass such attention and capital in such a short time.

Unibot Spotlight

Unibot, the ultimate trading dynamo accessible right on Telegram, is turning heads with its ultra-smooth trading vibes and mind-blowing speed that's got even the legendary Uniswap shaking in its digital boots.

Unibots turbocharged speed isn't just for show; it's the driving force behind its epic rise to trading stardom. This platform has earned its stripes as the top dog in the trading bot game, thanks to its lightning-quick execution time.

Unibots got some tricks up its sleeve with a referral scheme that's got us all starry-eyed. You savvy token holders can whip up your very own referral code, and guess what? You'll be strutting around town with a cool 20% discount on transaction fees, plus a whopping 25% of those transaction fees from anyone who takes a dip via your link.

Unibots not just about the fast lane; it's also got the toolkit for some serious trading finesse. With over 5,000 users raking in the moolah from staked $UNIBOT, this sensation is spreading like wildfire.

How Long Will They Last

We have all seen narratives come and go. One minute they shouldn't be missed, the next they are better off ignored than recognized. Telegram trading bots certainly have their value props & have their placement in the process of decentralized trading but what is coming next for them to kick off and become the industry standard?

We have seen Unibot launch Unibot X which is an extension of their bot into a fully immersive trading terminal which indicates that the blue chips which keep iterating could last, those just here for the short term? Make your own decision.

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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