Telegram Trading Bots - The Next Gen Cryptocurrency Trading Bots

Wolfie Zhao
Mar 5, 2020 at 07:18 PM
Updated Mar 5, 2020 at 07:40 PM

Before a decade, bitcoin was the first identified cryptocurrency, which was promised as a future currency. At that time, people were not much aware of how to buy bitcoins, and sell bitcoins. There were very few opportunities to acquire bitcoin. But now, the cryptocurrency industry has evolved like a tree and has attained mammoth growth with several business use cases. This incredible growth of the cryptocurrency industry has left a lot of opportunities for crypto entrepreneurs to easily buy bitcoin. 

Hence the most preferred and optimum way to get a bitcoin or any other cryptocurrency is, 

  • Cryptocurrency Trading/ Exchange Site

Because cryptocurrency trading sites are the hub of collective cryptocurrencies, where a trader or investor can buy any kind of cryptocurrency buy exchanging with fiat or any other cryptocurrency. But there are some bottlenecks, which a trader has to pass through before getting crypto from an exchange site. 

Bottlenecks While Trading Crypto’s Directly from a Cryptocurrency Exchange

  1. Traders have to choose right & secured cryptocurrency exchange manually
  2. A trader has to often check the ups and fall of bitcoin price
  3. Uncertainty of profit because of cryptocurrency price fluctuation.
  4. Must ensure the security level of the cryptocurrency wallet of corresponding cryptocurrency exchange.
  5. It is not possible to ensure the liquidity and 24hrs trade volume of a cryptocurrency exchange manually.

These are the basic hurdles a trader should go through before entering and trading cryptos from a cryptocurrency exchange. But, we are not concluding that the above-listed elements are completely toxic to a trader, but we can diminish this kind of risk. How? 

Cryptocurrency Trading Bots 

Trading bots are extreme user-centric trading tools that can facilitate cryptocurrency trading with advanced automatic features. In general, we can define cryptocurrency trading bots as a software or a computer program, that can be customized to automatically buy when the bitcoin price is down, and to sell when the bitcoin price is up. Where a trader can set trading limits and placing the trading order. There are plenty of cryptocurrency trading bots in the market. This entire process can be done with an integrated API, which can let the BOT to communicate with other cryptocurrency exchanges. 

Problems in First Generation Cryptocurrency Trading Bots

  1. Trading bots are not easy to use.
  2. The price is high.
  3. Need experienced involvement to setup and integrate.
  4. Trading bots are not fully automated, we need to define the rules first.
  5. Not are handheld devices, can be installed only with your desktop.

So, what if a trading bot, can be controlled from your mobile device with no cost of purchase?

Yes, we are talking about the Telegram Trading Bots!!!

Telegram Trading Bots - The Next Generation Cryptocurrency Trading Bots

Telegram is a social chatting application, like WhatsApp, Snapchat and more. But the uniqueness of telegram is it gives complete Bot API library. With this developers can create and customize their bot in a telegram to get the following benefits.,

  1. Can get customized news and articles.
  2. It can integrate with other services like Gmail bot. GitHub Bot, YouTube Bot and much more.
  3. I can accept payments.
  4. It can build multiplayer games.
  5. Evaluate expenditure in real-time.
  6. Theoretical purchases.
  7. Can minify your work on online mediums.

Check out here to know more about telegram bots : Bots: An Introduction for Developers.

What are Telegram Crypto Trading Bots?

Telegram trading bots are like chatbots which are integrated trading API’ to communicate digitally with a cryptocurrency trading website, and can bring better outcomes in terms of profit to a trader. Telegram bots are AI-Inspired automated bots. Telegram bots run inside the telegram network, and can’t be required to install any other third-party applications, except their native APIS. 

Why Telegram Bots for Crypto Trading?

  1. Telegram gives a safer environment
  2. Can make real-time transactions
  3. Telegram bots work in a set parameter
  4. Telegram bots respond to the input as the human does.
  5. Can execute investment within the comfort level of a trader. 
  6. It can automatically offload a cryptocurrency, its price seems to decline and it tends to reach a trader maximum. 
  7. Telegram bots can minimize the entire risk while cryptocurrency trading. 

In addition to this, telegram trading bots can give price analytics and can send push notifications to the traders, when a cryptocurrency price reaches a set price. 

Telegram bots that can benefit from different aspects:

  1. Rocket Coin - Send recent updates about the cryptocurrency market cap.
  2. Tracktxtbox - This bot will notifies a trader when he/she deposited with any cyrptocoins or ERC20 tokens
  3. TokenStats - It helps an investor to calculate possible returns from IEO inturns of Ether, Bitcoin, and USD.

Source 1: Telegram Bots as A New Big Thing in Cryptocurrency Trading
Source 2: What is a cryptocurrency Telegram bot?

Is it possible to create a telegram bot?

Yes. We can create telegram trading bot individually to execute our desired actions like market tracking, price analytics, order execution and more. Telegram gives open-source API to create customized cryptocurrency trading bots. 

How to Create Telegram Trading Bot For Cryptocurrency trading?

To create a telegram for cryptocurrency trading, one must need complete expert support, who is able to control the integration process with the open-source telegram trading bot API.

Telegram bots like tradesanta let the trader connect with popular exchanges, after signing up. And can help you to do select the following

  1. Long and short strategies to control both bull and bear market
  2. Take Targeted profits.
  3. Technical Indicators
  4. Large Volume Trading
  5. Bot Templates
  6. Real-Time Tracking

Check out How to Build Telegram Chats with a Crypto-trading Bot

We at bitdeal can help you to create and customize your desired cryptocurrency trading bot based on your requirements, also if you are a cryptocurrency exchange startups, we can help you to migrate users from your telegram group to the main exchange.

telegram trading bot telegram trading bot development