Within 72 hours of launching its presale on January 17, Bitbot raised an incredible $300,000.
Bitbot aims to lead the market for Telegram trading bots, a fast-growing segment of the trading app market that has seen a significant trading volume of $7 billion.
Telegram trading bots allow traders to manage a cryptocurrency trading portfolio within the Telegram app. In practice, this means that investors with heavy Telegram usage, which is substantial among the 800 million active Telegram users, no longer have to work through two applications to manage their trades: an exchange and the Telegram app. Additionally, Telegram trading bots offer all the automated trading features found in exchange apps, bringing the best of both worlds into one seamless package.
Andrew Jacobs, Bitbot Technical Product Advisor, commented: “As we experience a pivotal point in the evolution of Web3, I am pleased to announce the launch of Bitbot. Our mission is to equip retail traders with powerful, institutional-grade tools in a simple and intuitive trading interface backed by robust security. We have a great team and I look forward to driving the evolution of the product and meeting the Bitbot community at our regular AMAs, which will be announced during pre-sales on our social channels.”
The Bitbot team is looking to move quickly with a relatively small raise target of $4.3 million, predicting a quick pre-sale, with prices starting at $0.0100 and ending at $0.0200, potentially delivering 100% profit for the early investors prior to the project’s listing. An added incentive is the attractive proposition that Bitbot token holders will receive 50% of the company’s profits, distributed as a percentage of their holdings once it launches this year.
Bitbot (BITBOT) is available for purchase on the official site.
Bitbot’s push for mass market adoption
Telegram trading bots increase convenience by allowing users to complete the entire trading process within Telegram, the crypto messaging platform of choice, bypassing the often complicated user experience associated with exchanges.
While trading volumes on Telegram’s trading bots are impressive, it is clear that there still remains a majority share of the pie currently dominated by traditional cryptocurrency exchanges. Even Bitspay is consistently in the top 70 exchanges CMC, has a volume comparable to that of all Telegram trading bots combined. The sheer size of the opportunity becomes apparent in terms of the potential market share, and it is this kind of potential that drives the product and development team and Bitbot to deliver a product suitable for mass adoption.
This may be one of the problems with Bitbot’s competitors. Telegram trading bots can be stubbornly complex, with many relying on user commands to operate them. Furthermore, a number of security issues have plagued even the biggest players in the market, leaving a sour taste for some, but a potentially very sweet benefit for the Bitbot brand.
Bitbot tackles both issues head-on. First, it eliminates the need for complex commands by offering an intuitive in-app interface that is immediately recognizable to exchange users.
Second, it offers non-custodial trading, meaning users can integrate Bitbot with their cold wallets and eliminate the inconvenient need to give up their private keys to trigger the bot’s powerful automated trading features. This is supported by the brand’s partnership with safekeeping. technology developer Knightsafe, and is an unprecedented offering to date on the Telegram trading bot market, a truly unique and innovative approach focused on institutional-grade asset security.
The bot offers a host of advanced features that will appeal to both novice and advanced traders, from copy trading to automated sniping.
Tokenomics and presale roadmap
According to the project white paperthe Bitbot presale will continue through the first quarter and you will see the project list at trade shows in the second quarter (unless the presale is sold out early, which is possible in the current process).
Allocation data includes 30% reserved for pre-sales, 20% for the development team, 14% for marketing, 3% for liquidity, 2.3% available to the community (consisting of rewards and airdrops), and 10% allocated to a treasury.
The 20% designated for the development team will undergo a one-year vesting period, ensuring long-term commitment from the team.
Bitbot’s impressive journey into the crypto market
Unibot and Banana Gun, competing trading bots, quickly rose to prominence, while Unibot’s symbolic price passed $230 in just three months after launch. Investors in Unibot’s presale reportedly saw a gain of around 200x, according to a recent publication CoinDesk article.
Bitbot hopes to follow in their footsteps and its impressive rise has been made possible by its community, which has grown rapidly 90,000 followers on X and more than 5,100 members his Telegram within a week of the presale announcement. The project is already in Phase 2, with the token priced at $0.011 and only 9,200,000 tokens left before the price increases by 5% for Phase 3.
Bitbot hopes to attract presale investors following the recent adoption of Bitcoin ETF and increased trading activity in the cryptocurrency market. This has attracted a significant social following and has been picked up by notable crypto publications such as Invezz, who have already included Bitbot in their list. top cryptos for 2024.
Bitbot is a new trading bot from Telegram that aims to put trading tools in the hands of institutional users, allowing them to trade using a variety of advanced features, including sniping and copy trading.
Controlled by Solid Proof, Bitbot focuses on security and follows the motto: “your keys, your belongings.” To this end, the project has partnered with Knightsafe to deliver the world’s first non-custodial telegram trading bot, mitigating counterparty risk and amplifying it with anti-MEV and anti-back technology.
To learn more and purchase Bitbot (BITBOT), users can visit Bitbot’s website.
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