Do we need to be online for the bot to work or it uses your servers or Telegram cloud? what if somebody with a large amount of either ETH-BTC use your bot and you find them somehow to take their coins?
No you don't need to be online. The idea will not work if you must be online:)
The usage is something like:
1. Install bot
2. Send your ETH address
3. Forgive
4. Meanwhile Bot will check your balances every 30 seconds
5. If any incoming/outgoing transactions of ETH or ERC20 tokens occurs - you will get instant notification