Did you know that there is a Telegram bot that allows users to trade without leaving the messaging platform? It is called Unibot, and it was launched on May 2023. The rising popularity of Telegram-based trading bots has increased the value of the bot’s token. It was trading around $2.46 in May and reached an all-time high of $199.30 on July 28 which represents more than 80x in returns.
Last week, the developers behind the project revealed a next-level trading terminal called Unibot X. It allows users to trade conveniently with mobile devices or computers. It lessens the hassle of juggling multiple screens by using Gecko Terminal to provide real-time information.
However, most of us would need to wait before we can try Unibot X. According to Unibot, early access is available to:
- Top 100 $UNIBOT Holders (if the address is linked to the bot)
- Top 100 Users by Bot Transaction Volume
- 100 Random users
The Reason Behind the Popularity of Unibot
A lot of crypto traders started with big centralized exchanges (CEX). But the implosion of several platforms in 2022 convinced investors that it might be safer to store digital assets using their wallets instead of entrusting them to exchanges.
Trading in decentralized exchanges (DEXs) and using self-custody wallets tend to be more difficult compared with centralized exchanges. DEXs require a steeper learning curve compared with CEXs, as they require the user to learn about smart contracts and blockchain protocols. Approving a malicious contract or wrong address could result in loss of funds.
Trading bots on the other hand offers convenience and efficiency. The bots can help automate tasks and execute trades faster. It helps cuts down the steps and gives users a more user-friendly interface. It is also possible to execute multiple trades using multiple wallets at the same time. The video below is a primer on how to use Unibot.
People Will Choose Things That Are Easy to Use
Technology always goes through birthing pains. It does not go mainstream in just a year of introduction. People need time to learn how to use it. Just imagine when the computer was first introduced. Users needed to know the proper syntax to ask a computer to execute a simple command. Nowadays, we just tap on our screen. Some devices can also receive voice commands. The ease of use accelerated the adoption of computers and similar devices.
Crypto is also undergoing evolution. Trading bots like Unibot makes it easier for ordinary users to participate in decentralized trading. As time goes by, the user experience will become better and easier. This will translate to more people embracing it. And maybe someday it will be the only asset we need.
