Telegram has quickly grown into the go-to messaging service for cryptocurrency adopters for several reasons. But one of the features that makes this cloud-based instant messaging service so essential to crypto is its ability to create bots.
A Telegram bot is a software-operated account that can perform a wide range of tasks, from playing and broadcasting to following commands and setting reminders.
A Telegram bot can be pretty useful in the crypto ecosystem. It can help users out by providing notifications and price analytics or even help with advanced trading techniques. Here’s how you can use them to help manage your digital assets.
A brief history of Telegram
Telegram has become famous in cryptocurrency circles thanks to its commitment to the privacy of its users. The app uses end-to-end encryption to secure messages, just like Signal and WhatsApp. This technology makes it almost impossible for outsiders to access conversations without consent from one of the parties involved.
The Telegram app was launched in 2013 by brothers Nikolai and Pavel Durov – Pavel is also the founder of Vkontakte, Russia’s largest social network. Unfortunately, the privacy features came at a price. The platform became home to a series of groups planning terrorist attacks and spreading hate rhetoric.
Today, Telegram continues to generate debates at a global level. Countries like Russia and Iran are planning to ban the app in an alleged attempt to limit communication for illegal purposes.
Right after its launch in 2013, the service had around 100,000 daily active users. Now, the app has reached over 200 million users. Not only was Telegram the first platform to use cryptography to protect the privacy of its end users, but it was also the first to fully open source its code.
Moreover, Telegram also provides 100% open APIs. This feature enables users and developers to integrate third-party apps and bots for multiple uses.
Why cryptocurrency adopters prefer Telegram
Telegram has become home for hundreds of groups dedicated to everything related to cryptocurrency. But why does the crypto world rely on Telegram? Besides increased privacy, users benefit from a myriad of other useful features. Here are some of the most important.
Telegram users can use the app on any device, with no need to run it on a mobile, like WhatsApp. You still need a phone number to create an account, but you don’t have to install the app on your smartphone.
Moreover, Telegram can sync to different platforms. You can start a conversation on your smartphone and continue it on a different device of your choice.
The platform relies on public usernames rather than phone numbers, which means users don’t need to exchange contact details to communicate. This feature also enables users to add different accounts and create distinct user names to separate personal communications from other interactions.
Another feature that makes Telegram great for cryptocurrency traders is the ability to create channels. This way, companies can share messages and update information about their services. The messages can reach an unlimited number of users simultaneously.
Getting the latest news and updates in real time is essential in cryptocurrency circles. The more information available often means better chances of getting a good return on investment.
Telegram has developed bot services on its platform, making it easy for users to benefit from AI and communicate with peers effectively. Not only can a Telegram bot mimic human communication, but it’s an excellent tool for traders who need to stay updated about market changes in real time.
Telegram bots integrate easily with other services and make a series of features possible, such as news channels, accepting payments, and automating a wide range of activities.
For cryptocurrency companies running a Telegram group, they can also make use of a Telegram bot to provide them with group analytics. They can gauge engagement through the number of messages, members, and other key metrics.
How crypto traders can benefit from a Telegram bot
A Telegram bot can do almost anything crypto traders need to manage their assets effectively. For instance, crypto trading bots provide price analytics and send notifications when a cryptocurrency reaches a set price level. This is just a single example of how cryptocurrency adopters can benefit from bots.
Here are some further examples that illustrate how a cryptocurrency Telegram bot can be helpful:
- Rocket Coin keeps users updated about a cryptocurrency’s market cap
- Tracktxbot notifies you when you receive deposits of digital coins or ERC-20 tokens with just your wallet address
- Tokenstats helps investors calculate possible IEO returns and expresses them in Ether, Bitcoin, and USD
- Intelligent Trading Bot provides valuable data and insights to enable users to benefit from advanced trading techniques
Wrapping it up
A cryptocurrency Telegram bot enables users and brands to automate part of the trading and communications process. Brands can keep traders updated about the latest news and, at the same time, crypto owners and traders can improve the efficiency of their operations by keeping a level of control over price evolution.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.