Crypto Trading Bots — Are They Good For Telegram Messenger?
By Steven Krohn on ALTCOIN MAGAZINE
“Cryptography is the essential building block of independence for organizations on the Internet, just like armies are the essential building blocks of states, because otherwise one state just takes over another.” — Julian Assange
“Never send a human to do a Machine’s job”. That was the line that Agent Smith delivered in the classic-hit movie The Matrix after Cypher fails to get rid of his human companions who are trying to awaken ‘The One’.
That was almost 20 years ago when A.I. was relatively nice looking in terms of functionality.
Today’s machines (A.I. bots) have progressed to where they compete with humans on the same level or higher. Crypto trading Bots perform complex functions, such as commodity trading, much more efficiently than most humans.
This is evident based on the number of crypto trading bots that we see in crypto groups on platforms such as Telegram.
Bots on Telegram
To be considered a serious project, ICOs/Crypto require a large member community before and after their launch. Countless number of new crypto projects build a Telegram channel.
They incentivize people to subscribe to the channel by offering free tokens for early adopters.
The number of members a cryptocurrency group gives you an indication of the interest people have in the project.
It is common for new ICO/Crypto Telegram groups to build a large community (1000s) immediately after its launch. Consider Kleros, a dispute resolution layer that recently launched. It grew from 500 members accumulated in weeks to over 6,000 in a matter of hours.
The project’s manager on Telegram stated that they are closely monitoring the influx to ensure that only genuine members get the tokens.
When it comes to online identity, it can be difficult to distinguish humans from bots. Bots are capable of making replies on the forums that are similar to humans.
Telegram has been overrun with crypto trading bots.
Crypto Trading Bots for Every Occasion
Chat bots that are capable of mimicking human communication are nothing new. They have been around for decades and only now are being used by programmers looking to add additional tokens for their ICO or Crypto.
However, there are other capable crypto trading bots that are proving useful in the crypto domain. Meet the new price analytics bots that allow you to set an upper and lower limit for Bitcoin, etc.
They will notify you when the price has reached the level that you set.
Another bot on Telegram is Rocket Coin that updates the cryptocurrency’s market capitalization based on Bitcoin dominance.
The Tokenstats crypto trading bots consists of a simple code that can be very useful to ICO/Crypto investors. The bot takes a token’s ticker as input and returns the profit it’s made in ETH, BTC and USD.
Another popular bot on Telegram is the Trackxbot. Simply set up your wallet address to include a name and link it up with the bot. You will receive a notification each time you receive or make a cryptocurrency payment from your wallet.
Finally, there are two advanced bots that are capable of helping traders improve their cryptocurrency trading significantly.
These are the intelligent trading bots and intelligent trading info bots.
Intelligent Trading Bot
These are the primary Telegram crypto trading bots. It sends members a variety of trading updates and strategies that make use of popular technical and analytical signals.
These analysis models include Simple Moving Average (SMA) based on user defined days, Relative Strength Index (RSI) with a base percentage and Ichimoku Cloud Breakout. This bot can be used for any of the thousands of cryptocurrencies currently listed online.
When combined with crowd sentiment alerts from CryptoPanic, this bot does all of the hard work to provide valuable insight to traders to conduct more profitable trades.
You can subscribe for free offering basic functions. Advanced functions can be unlocked with the premium version on a subscription basis.
Intelligent Trading InfoBot
The Intelligent Trading InfoBot is used to focus on a single cryptocurrency. The bot displays brief and on-demand information about a specific cryptocurrency to a Telegram Group.
Options for displaying the data include current coin price, trading volume and the latest trading alerts which are then customized. With one simple command, statistical data can be pulled for 269 coins, 442 trading pairs, and three exchanges.
This bot is available for free and can be added to any Telegram Group.
Telegram has become infiltrated with crypto trading bots, not all of them legitimate Huge numbers of scams exist on Telegram through the use of crypto bots.
In The End
Beware when someone promises you a specific amount of return if, “you just invest in a that trading bot.”
There is very little doubt that most bots on Telegram are complete scams and ponzi schemes.
Be cautious when it comes to the use of crypt trading bots on Telegram.
Please do as much due diligence as possible before you invest in any crypto trading bot on Telegram.
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The purpose of ALTCOIN MAGAZINE is to post and repost stories, announcements, and tech explanations from projects within the topics of cryptocurrency and blockchain. This article was written and composed by Steven Krohn on ALTCOIN MAGAZINE.
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