Hello steemians, today I am gonna throw some light on upvote bots and when to avoid using them. This article will help you avoiding loss on bot usage to an extent. There are lot of upvote bots on steemit from bots like @minnowbooster which gives an Instant upvote and bots like @buildawhale which votes on bid rounds that happen in a scheduled interval.
The purpose of using bots is almost the same for most users, which is to help their posts get some attention and coverage so their content would reach their target audience and they could get more impressions. Upvote bots also serves the purpose of profitability for users as there are some bots which would give double or triple the value you send depending on the bot’s voting power.
Ok now let’s come to the point, when not to use upvote bots: When there is a crypto market correction/crash: Because the market crashes will lead to reduction in Steem’s value this thereby will affect your post payouts and rewards too. The earnings you got via upvotes will start declining and eventually as it comes to payout you will end up in loss. So I would suggest to not use upvote bots during market crashes, so you might ask "How the hell will my posts get attention then”? Well, If you are 100% sure that your post would do well and is of exceptional quality, spend an amount you can afford to lose.
But If you are a minnow It would be really difficult to get the initial votes apart from bot votes, In that case here is a quick hack you can try: How Minnowsupport can increase your reach on Steemit
And there is a little more, check the voting power of the bots before you use them. You can also track the bots those vote by bid rounds from Steem Bot Tracker where you will gets to see the previous round bids and the profitability percentage of each bot.
To do that click on details section of any bot.
Now you could see the last round and current round details and the possible ROI from the bot.
If the ROI is showing negative returns in last rounds avoid that specific bot, market crash or no market crash such bots will end you up in loss only.
From my experience so far the bot that gives the best ROI is @minnowbooster.
Follow me @shonyishere for more updates.