All-in-One Trading Platform Combines Crucial Tools for First Time
An all-in-one crypto platform is aiming to appeal to beginners and professionals alike by bringing trading bots, strategies and resources under one roof.
A company says it provides the first complete crypto marketplace under Swiss law — bringing together services that were only available separately until now.
According to UpBots, its mission is to become a preferred platform for beginner and professional traders alike. The service aspires to deliver a low learning curve for those who are new to cryptocurrencies or to trading in general, with risk-management tools designed to keep capital safe and reduce the risk of falling victim to scams.
A comprehensive training section enables users to learn and grow at their own pace — with in-depth resources that are beneficial to more seasoned enthusiasts. UpBots also says it delivers a blockchain-based web and mobile trading platform that’s linked to major exchanges. Users have the freedom to rely on a complete set of sophisticated tools and strategies, and for those who prefer to develop their own algorithms, a bot creator section enables new algorithms to be created at will.
Successful bots can also be rented out to others, and a social copy trading tool offers a much-needed bridge between established traders and newcomers.
Enhancing the crypto trading experience
The UpBots emphasizes it is attempting to tackle one of the biggest hurdles to mainstream adoption that exists today. According to the company’s white paper, many trading platforms have been welcoming increasing numbers of inexperienced traders who often have no knowledge of the market. Time starved and unwilling or unable to constantly analyze charts, “they enter into trades without a strategy, embrace inadequate risk management tools, and often maintain an inferior risk-to-reward ratio,” notes Benjamin Duval, one of the founders of UpBots. To add insult to injury, the team says that many established exchanges are failing to offer safeguards such as portfolio monitoring that can help prevent early experiences in crypto trading from being bad ones.
Although UpBots is going to be focusing on the crypto markets initially, the platform says it has bold ambitions to offer the same levels of accessibility across forex and commodities — enabling consumers who are interested in these asset classes to get involved in a meaningful way without requiring years of training and experience.
Right now, UpBots claims that the typical newbie often lacks proper guidance and training resources, and usually quits the market after three to six months because they end losing a significant percentage of their capital. The company is hoping to upend the status quo by giving them “all of the tools that they need to succeed” — a one-stop-shop with an average monthly fee that’s lower than the cost of subscribing to specialist interfaces individually.
Based on blockchain
UpBots says that a major point of difference between its platform and those offered by competitors lies in how it is based on blockchain. According to the company, fully utilizing this technology helps to deliver security, trust and transparency. The team behind the platform is described as a group of experts and successful entrepreneurs who have experience in building an ecosystem, a dedication toward quality and excellence, and an insight into how current offerings in the marketplace are failing traders.
To ensure the platform runs seamlessly, UpBots has created a new token called UBXt. This will be used to pay for the fees associated with copy trading, bots and referrals — and the company says this is the best way to offer a “completely decentralized and honest trading service.”
A private sale is initially going to be held with UBXt priced at $0.01. This round will have a hard cap of $500,000 and a six-month locking period. After this, a community sale will be held with a hard cap of $250,000 and a four-month locking period.
The first version of the UpBots dashboard is set to launch in the second half of 2020, paving the way for the company’s mobile application to launch in early 2021.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.