Did you know that you can use the Telegram app not only as a messenger, but also as a tool to automate business processes? If your answer is no, Evercode Lab is here with great pleasure to explain how this concept works!

Thanks to Telegram bot development, you can ride the hype wave by integrating this powerful tool into your product ecosystem and delegating manual tasks: from customer support to swaps. These bots offer fast, convenient, and user-friendly ways to interact with the blockchain, trade assets, monitor portfolios, and even participate in airdrops – all without ever leaving the Telegram app.

In this article, we’ll explore what Telegram crypto bots are, how they work, and why they’re becoming essential tools for traders and crypto projects alike.

What Is The Telegram Bot in The Crypto Sphere?

As mentioned earlier, Telegram bots are mini-apps or coded scripts that run inside the Telegram messenger application, often serving as assistants for performing automated actions. In the crypto space, these bots allow users to:

  • Receiving real-time alerts and news
  • Participating in DeFi protocols 
  • Tracking crypto prices and portfolio performance in real time
  • Trading tokens directly from chat
  • Managing wallets and sending/receiving assets (with the integrated wallet)
  • Receiving users’ support requests

Yes, the range of the work Telegram bots can do is wide. And it all depends on the goals of your platform or on the requests you receive from the users. Using bots can help your project reduce fixed costs by automating repetitive tasks, and it can also help you expand the functionality of your product by attracting more users.

Moreover, you can monetize your Telegram bot as well and earn additional revenue! To learn more about this amazing opportunity, book a call with Evercode Lab’s experts, and we’ll discuss what options will better suit your Web3 platform!

How Crypto Telegram Bots Work

If we talk about trading or DeFi functions, most bots connect to users’ wallets via APIs or private keys (non-recommended for security) or through integrations with non-custodial wallets. Here, the bot responds with interactive commands: e.g., buy, sell, check balance, and later it connects to exchanges or blockchain APIs to fulfill requests.

However, not all Telegram bots are designed for trading. Many are designed for support, onboarding, task management, or community education. In these cases, the bot guides users through menus, buttons, or commands, with no need for wallet access – reducing both complexity and security concerns.

Why Are Telegram Bots Popular in Crypto?

If the benefits mentioned so far aren’t enough, here are even more reasons why Telegram bots are booming in the crypto space:

  • Fast and convenient: Users can buy/sell tokens, get market updates, or fill support requests instantly – no need to log into an exchange or open multiple apps.
  • Low barrier to entry: Bots are designed to be user-friendly, so new clients can interact with crypto simply by clicking buttons, making it beginner-friendly as well.
  • Automation: Bots can automatically track prices, execute stop-loss orders, or alert users about key market movements.
  • Easier development & lower costs: Compared to building full-fledged web or mobile apps, Telegram bots are faster to develop (within 1 week fully working&monetized product will be ready to run) and significantly more cost-effective in maintenance and updating.

Final Thought

Whether you’re a trader looking for convenience, a builder aiming to simplify UX, or a community manager wanting to boost interaction – Telegram bots in crypto are worth exploring! They will help your product not only expand its overall functionality and increase the number of users involved, but also allow you to develop and expand the product at lower costs.

Want to launch your own Telegram bot? With Evercode Lab’s Web3 expertise, it’s easy-peasy! Don’t waste your time and get an additional tool for development and automate any business with a bot available to Telegram’s multi-million users. Contact us today to start expanding your crypto product.