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These are software meant to read the markets and automate the trades of traders. These bots work with algorithms programmed into them by their developers. So they function according to the program and the interaction of the variables with the live markets.

These programs utilize diverse market indicators to understand the latest trends and execute trades. The theoritical essence is to enable the user make consistent trades and possible gains through accurate reading of the market by analyzing the technical factors that move the market. The objective is to ensure that the trader consistently wins in the highly volatile cryptocurrency market through automation.
If you're a forex or crypto trader, you might consider knowing what to expect from bots, here is a comprehensive guide to bots:

I have also written something about Trading Bots. It's very important to be aware of how they work so you can be cautious about the things you do.
Here is that article: https://medium.com/@solomon.cha.28/trading-bots-in-olymp-trade-does-it-work-f3c92c9bd0a5

Only by experience - to try trading with different bots. Many platforms have free trial versions, which allow you to understand the basic tools and working conditions of bots. Well, if you're already an experienced trader and you know what tools and features you lack, choose a bot for your needs and financial capabilities. Compare packages of instruments, costs, read reviews.

Thanks!