Cool Idea, Bad Implementation

Using a messaging service to conduct trades is a really cool idea and one that could easily introduce millions more people to the world of DEXs. Texting a bot to make a trade for you? Genius! There are however quite a few red flags with how they are currently operating.

• Private Key creation and storage?
• Trade data collection and storage?
• Open Source code for security audits?

Transparency in these areas is definitely lacking but if improvements come, and this idea takes off on other messaging apps, this could be a game changer for how we all trade crypto.

Anyone here willing to share if they’ve used Unibot or something similar? Always like to hear feedback from real users to learn more.  

https://cointelegraph.com/news/should-telegram-trading-bots-be-trusted

Telegram trading bots are hot, but don’t trust them for custody – Security firms
Telegram-based bots are all the rage for trading crypto, but blockchain security firms advise against trusting them with your assets long term.
Cointelegraph