Have anyone used bot to exchange BTC?

[Little Mouse]

You may know that crypto is illegal here in my country. Which is a big resistance for us to buy/sell bitcoin. But now I have planned to start buy/sell through a telegram bot since it will be easier for me and I will be able to reach wide range of people.
I just want to hear your opinion. Have you used such a bot to buy or sell your BTC? Or have you been a dealer and continued buying/sellling with such a bot? I need to hear some experience so that I can face problems. An example of such bot:

[mk4]

Haven't used such bots because there's almost no way I'm going to trust some Telegram bot, but why not use non-custodial peer-to-peer platforms like Bisq[1] and Hodlhodl[2] instead? It's a far safer solution in my opinion, as you wouldn't need to entrust your funds to anyone.

[1] https://bisq.network/
[2] https://hodlhodl.com/

[Little Mouse]

Haven't used such bots because there's almost no way I'm going to trust some Telegram bot, but why not use non-custodial peer-to-peer platforms like Bisq[1] and Hodlhodl[2] instead? It's a far safer solution in my opinion, as you wouldn't need to entrust your funds to anyone.

You got me wrong. May be I could not present myself. I want to be the dealer here and offer service to people so that they can easily buy sell bitcoin through the bot. I will be the owner of that bot. Also, if someone has used for buy/sell or someone has used as dealer, I would appreciate their feedback here.
In our country, we do not have any chance to buy/sell bitcoin for fiat in the above mentioned sites.

[crwth]

Some Telegram Bots connect to exchanges that use API for trading. I tried Cornix Bot for a while, and it's just okay, nothing fancy. It has a monthly fee with its services, and I don't like the costs continuously if the bot doesn't make profits. It just doesn't make any sense.

Can you clearly state your intention here? Like are you interested in just using the bot for trading in an exchange or buy with fiat? Since you said that it's illegal in your country, it's going to be hard to purchase some of that, and I don't think bots could help you. Enlighten me if I'm wrong, please.

*edit

You got me wrong. May be I could not present myself. I want to be the dealer here and offer service to people so that they can easily buy sell bitcoin through the bot. I will be the owner of that bot. Also, if someone has used for buy/sell or someone has used as dealer, I would appreciate their feedback here.
In our country, we do not have any chance to buy/sell bitcoin for fiat in the above mentioned sites.

It depends on your customers if they are going to do it. I think automating your services with a bot would be great. I just don't know how you would be able to go completely under the radar.

[mk4]

You got me wrong. May be I could not present myself. I want to be the dealer here and offer service to people so that they can easily buy sell bitcoin through the bot. I will be the owner of that bot. Also, if someone has used for buy/sell or someone has used as dealer, I would appreciate their feedback here.
In our country, we do not have any chance to buy/sell bitcoin for fiat in the above mentioned sites.

Oh alright. That definitely cleared things up a bit. But how are you going to receive the fiat though? One way or another your identity will be exposed, and I'm not sure you want to risk that knowing that you're in a country where crypto is illegal.

[Krislaw]

I haven't used anything similar to this before but telegram is a very dangerous place to trade since it's anonymous and difficult to tell who is who. Copycats might want to use your telegram bot name to scam and it won't be good for your reputation.
It's better you continue doing your transactions here on this forum

[ReiMomo]

I guess you maybe face a problem on this, who hosting the bot anyway?

I don't know how this bot algorithm work but I am allergic to using telegram bot or any people dealing on telegram. It seems they aren't trusted that I felt being hacked if upon dealing on that social media platform. I suggest using a reputable exchange instead of using this bot, you ill never know you have been mystically used scammer bot and I'm afraid to lose my fund.

But I guess it's up to you, that is your money and you know how to manage risk.

[Little Mouse]

Oh alright. That definitely cleared things up a bit. But how are you going to receive the fiat though? One way or another your identity will be exposed, and I'm not sure you want to risk that knowing that you're in a country where crypto is illegal.

That's a measure problem but if I can take that risk I can make some good amount. BTC is illegal here but govt is not so serious, no one ever get jailed for doing transaction only. All the previous cases were related ro fraud, scam.
I have thought about alternative way, creating a token and distributing it to as many people as possible from Bangladesh. But I have no idea if it will work as BDT (local fiat). Have planned a lot but could not come into a solution. I have to risk my identity in one way or another.

[michellee]

No, I don't try that such bot because I still use my local sellers to help me withdraw my bitcoin.

You say that bitcoin in your country is illegal, but your govt is not serious about that, and no one will get jail for doing transactions. I think you can offer your services from mouth to mouth, and don't use the bot. You can be a bridge between your people and the exchanges. You help them buy and sell the bitcoin, while you can apply some fee to cover the cost.

Since it needs to have more information, I think you need to find your friends in your city to discuss how to solve the problem. If you tell us about your idea, we don't know the situation in your country, and we don't want you to break the law.

[joniboini]

That's a measure problem but if I can take that risk I can make some good amount. BTC is illegal here but govt is not so serious, no one ever get jailed for doing transaction only. All the previous cases were related ro fraud, scam.

I think you should prepare for the worst case. Who knows, maybe you'll be the first person that get jailed for doing an exchange service.

As for the bot part, I personally see them a few times but never has the confidence to use it. It's really easy for them to scam me especially if they don't have public presence except for a few anonymous e-mail or throwaway account.

[Findingnemo]

Haven't used such bots because there's almost no way I'm going to trust some Telegram bot, but why not use non-custodial peer-to-peer platforms like Bisq[1] and Hodlhodl[2] instead? It's a far safer solution in my opinion, as you wouldn't need to entrust your funds to anyone.

You got me wrong. May be I could not present myself. I want to be the dealer here and offer service to people so that they can easily buy sell bitcoin through the bot. I will be the owner of that bot. Also, if someone has used for buy/sell or someone has used as dealer, I would appreciate their feedback here.
In our country, we do not have any chance to buy/sell bitcoin for fiat in the above mentioned sites.

But how people will find you are trading through telegram? If you promote yourself to individuals then people will think its pure scam so you may not get enough business with this idea.

[Little Mouse]

I think you should prepare for the worst case. Who knows, maybe you'll be the first person that get jailed for doing an exchange service.

There are a few exchange service which operating their service through website. I do not want to go with website, it's pretty good to use telegram bot than website. However, it's true that if I go with such service, I will risk myself a lot.

But how people will find you are trading through telegram? If you promote yourself to individuals then people will think its pure scam so you may not get enough business with this idea.

I have community where I am very much active and have a few users with whom I trade regularly. If I start with this, I will target the bitcointalk users and my facebook community only.

[Review Master]

    <--snip-->

Don't use Telegram since it has bad privacy & restrict yourself to only accept payment method which guarantee you good degree of privacy or outside jurisdiction of your country.
I suggest you to forget the idea, unless you plan to be first person jailed for cryptocurrency exchange.

Your concern is right, sir. I am also from same country and there a lot of group where more than $5k crypto deal done within a day and none get jailed. Also some users use p2p exchanges like paxful where they buy-sell crypto with our Local currency. I don't see any kind of case from that. So, it won't be that much problem because local government have some positive sign regarding blockchain, but not in crypto. Government will think about regulating crypto-currencies in future, IMO.

[Findingnemo]

But how people will find you are trading through telegram? If you promote yourself to individuals then people will think its pure scam so you may not get enough business with this idea.

I have community where I am very much active and have a few users with whom I trade regularly. If I start with this, I will target the bitcointalk users and my facebook community only.

But still your identity may get leaked because social media tracks you what are you doing and who know someone you may know can make a complaint about you.So if p2p sites are working in your country then just go with it where your identity won't be leaked and also much safer to trade there.

[traderethereum]

But how people will find you are trading through telegram? If you promote yourself to individuals then people will think its pure scam so you may not get enough business with this idea.

I have community where I am very much active and have a few users with whom I trade regularly. If I start with this, I will target the bitcointalk users and my facebook community only.

But still your identity may get leaked because social media tracks you what are you doing and who know someone you may know can make a complaint about you.So if p2p sites are working in your country then just go with it where your identity won't be leaked and also much safer to trade there.

He can use fake identity to register on social media, or he can buy an old account for that, so he can promote himself to attract many people.
As long as he can hide his identity, it will be no problem for him because he can online and access the internet without anyone know who he is.
P2P sites can be his option to trade, but still, that will be his decision to choose what trading platform he wants to use for trade.
There are many ways he can do to share his trading concept with other people, and he can also hide from other people out there.

[Findingnemo]

But how people will find you are trading through telegram? If you promote yourself to individuals then people will think its pure scam so you may not get enough business with this idea.

I have community where I am very much active and have a few users with whom I trade regularly. If I start with this, I will target the bitcointalk users and my facebook community only.

But still your identity may get leaked because social media tracks you what are you doing and who know someone you may know can make a complaint about you.So if p2p sites are working in your country then just go with it where your identity won't be leaked and also much safer to trade there.

He can use fake identity to register on social media, or he can buy an old account for that, so he can promote himself to attract many people.
As long as he can hide his identity, it will be no problem for him because he can online and access the internet without anyone know who he is.
P2P sites can be his option to trade, but still, that will be his decision to choose what trading platform he wants to use for trade.
There are many ways he can do to share his trading concept with other people, and he can also hide from other people out there.

I doubt people will be ready to send their money to buy from some unknown person so there is no way to find trades if he is using a fake identity.

And p2p, LBC allows some country people to trade there even if cryptos have been banned there but still we are risk while using p2p site when our country banned because we had seen people from many countries can't able to trade or withdrew their funds from LBC due to legal issues in the recent days.

[traderethereum]

I doubt people will be ready to send their money to buy from some unknown person so there is no way to find trades if he is using a fake identity.

And p2p, LBC allows some country people to trade there even if cryptos have been banned there but still we are risk while using p2p site when our country banned because we had seen people from many countries can't able to trade or withdrew their funds from LBC due to legal issues in the recent days.

Maybe that is what happens, but it's up to them.
If they know about the risk of trade with the unknown person, they can still trade with that person.
I don't use p2p for trade because I still feel comfortable using an exchange. It is because I trust the exchange and I don't have any problem using that.
Even if trading crypto is prohibited, I am sure people will find a way to trade because they will try to search for the info about how they can still trade.
They will hide their activity from the government, and I am sure they will be able to trade without anyone knows.

[Findingnemo]

I doubt people will be ready to send their money to buy from some unknown person so there is no way to find trades if he is using a fake identity.

And p2p, LBC allows some country people to trade there even if cryptos have been banned there but still we are risk while using p2p site when our country banned because we had seen people from many countries can't able to trade or withdrew their funds from LBC due to legal issues in the recent days.

Maybe that is what happens, but it's up to them.
If they know about the risk of trade with the unknown person, they can still trade with that person.
I don't use p2p for trade because I still feel comfortable using an exchange. It is because I trust the exchange and I don't have any problem using that.
Even if trading crypto is prohibited, I am sure people will find a way to trade because they will try to search for the info about how they can still trade.
They will hide their activity from the government, and I am sure they will be able to trade without anyone knows.

There is no way to trade from an exchange for crypto to fiat and vice versa trading if it is prohibited in that country because your bank will find where you are receiving the money from and immediately you will be in danger. Whereas in p2p you can mention those transactions as other purposes funds because you are going to receive them from random people not from an exchange's account.