Trading mini apps on exchanges

I recall a chat about beginners needing help where someone mentioned trading on a small phone. He said he needed a bot because switching between an exchange app and checking signals on Telegram was causing issues with the app closing unexpectedly. A few users pointed out that using Telegram bots for trading is risky since it could compromise user info on Telegram. But just today, I got a promo from Bitget offering rewards for using their Telegram mini app for futures trading, which is exactly what that guy needed. Someone also shared a mini app for Kucoin in that thread. It seems like more exchanges are rolling out mining apps compatible with Telegram. If these mini apps aren't safe, then why are exchanges pushing them so hard? More and more platforms are jumping on the mini app bandwagon.

Your question is good, I also realized that yes, why would an exchange promote it if they know it's not as secure as their own exchange platform, it's actually a bit strange. Then I don't use those mini exchange apps either. I just don't know about others, because for me it's better and safer to use the main exchange itself than those apps, honestly. Has anyone in this section tried it for the same thing we are talking about?

Am really not surprised about this development because most people misinterpreted this telegram mini apps, they initially thought that because it's in telegram, it can be easily hack or if anything happens to telegram the mini apps can be breached easily, no it can't. The mini apps posseses a total security structure that comes from the source, like in the case of bitget now, that mini app in telegram can only be breached if bitget itself is breached, because telegram is only there as a platform where all this mini apps showcases their products nothing more, telegram don't have access to these mini apps without you granting them permission, but people just misinterpreted it, thinking that the security of these mini apps lies on the hands of telegram which is not true.

Mini app such exchange are really a little bit not safe to be honest since it's on telgram. But i am not saying that the platform itself is not good ,wherein only the fact is that mostly users of it were scammer and hackers , which if there's something happened to it for sure you cannot access your mini wallet anymore.  And thats a bad things when it comes to it and has  possibility in my opinion.

Thanks for this clarification because I was also of the thought that big exchanges adding Telegram mini app was a bad move until I saw this comment. Of a truth, if user accounts cannot be compromised through Telegram, then there is really not much of a problem, but I still find this strange on how trade can be executed in the app and withdrawal not possible from the app. I will do more findings to confirm how reliable this information is because even thinking about using such to connect to my trading account.

Of course for their own benefits. I don’t think exchanges will want to promote and engage the use of this without them benefiting big from it. Telegram mini app games really brought a lot of people into the crypto space through engaging with those apps for airdrops. A lot of them may not want to have a more complex platform in order to continue their path in the crypto space, so exchanges are centralized, it becomes easier for them to join hands with telegram and get users informations from there to continue using their services through the telegram platforms. It becomes a win-win situation for both teams and that’s why we will be seeing more of them in the coming days.

They wouldn’t promote it if it weren’t safe to in the first place. in addition, exchanges are regulated, so regulators are keeping an eye on them to ensure they don’t promote anything that could put users’ assets at risk. These Telegram mini-apps are probably officially developed by the exchange itself, which means they likely have better security compared to third-party tools, making them more trustworthy. However, risks still exist, especially if our API keys are exposed. For those who prefer to play it safe, sticking to conventional methods is always an option. This trend isn’t going away anytime soon, as it’s part of the competitive game. If the mini-apps gain traders’ full confidence, they’ll simplify trading, which in turn increases trading activity and generates more fees for the exchange which would boost their income.

Have you traded on the exchange Telegram mini app before? I just want to know how users experience will be like when trading on the mini app. I mean is it like trading on the exchange while using desktop and mobile app which are my favorite? Also your later comment about API also still discourage me from using such for trading. I use a phone with a fast processor and 8 gigabyte of RAM which makes me think it will not be a good option for me because I am using phone frequently for trading. Even if I open 10 apps on my phone, none will close even as I have not expanded the ram which is expandable up to 16 gigabyte.

I usually wonder if those exchange have 100% interest of their customers at heart but the answer is no, they are not 100% concerned about customers security. Not that they don't want the safty of their customers but the exchange are more concerned with profit that they will make and they allow their customers to handle their security on their own. I have not used that mini app before but we know that telegram is a social and a centralized app with so many scammers there and there is a high risk that some new users could become victim to hacks.

with these exchange, you already entrusted your money in their custody in the first place, you don't even get to see the seed phrase at all when you deposit your money in exchange, so entrusting them with your data is somewhat tolerable, it's different when we're using telegram bot, exposing our private key to the bot where big fat chance they'd store your private key in database somewhere, these bot usually aren't strictly regulated and can pull some shady thing behind scene so the concern toward these bot are legitimate. it's completely different thing entrusting money to exchange that abide to the regulation to some random bot.

It is safe somewhat and unsafe somewhat. Safe or not safe depends on your practice and it's up to users with their activities on their phones. Exchanges want to bring convenience to users and if users have demand that can be deployed by exchanges, and if exchanges see that it potentially can cause customer loss or gain, they will not hesitate to provide that mini product. Your privacy, your fund security is more important than any convenience you get from any application like exchange app or Telegram mini app for trading.

Very true, you made a very good point here, for due to how most people have involved into the crypto industry through telegram mini apps, these exchange now sees it as a marketing opportunity to showcase the product through telegram, and by so doing they created their own telegram mini apps for marketing and trading purposes, but when it comes to security of the mini apps that's is what I don't think they will leave solely for telegram to handle, because they have more to lose if those mini apps are breached.