Once a very senior trader told me that don't trade using bots until you have created that bot yourself or you know how to create one. You see all the big companies who trade in the stock markets, whom we call the institutional investors use bots to make trades, there is obviously no doubt that at least 50-60% of crypto trading volumes come from trading bots each day. These big institutional investors have a large team of software engineers who design, develop and audit their bot. You will often see huge audits of these bots being undertaken before they are declared fit for trading.

But the problem with bots is that they don't have brains. You on your own have to put a strategy inside the bot and the bot will perform in the way you have told it. Or you will buy the strategy from the person you have brought the bot. In both cases, the problem is you are using third-party software on your valuable account. Exchanges do provide withdrawal restrictions for these bots but they can trade in any way they want.

A Layman like you and me cannot audit a third-party bot in different market conditions on different parameters to ensure they don't hurt your capital also any external help would eventually mean leaking the very main source code of your bot which can be easily manipulated. The external help is pretty costly too. So in Nutshell, I would recommend you to stay away from all kinds of trading bots. They are not for retail traders. But yes if you own have the skillset to create your own bot definitely go and create one and use it. You might find some great value for your bots if it ends up working and profitable.