Considering the rate at which cryptocurrency exchanges are saturating the ecosystem today, it is becoming increasingly important for new trading platforms to carve a unique niche or selling proposition before they can attract a sizable amount of users. One of the few projects approaching this uphill climb head-on with creativity is UpBots.
Even before its release, UpBots was a highly anticipated trading platform as some of its potential stakers had the opportunity to test out its advanced features. What’s even more intriguing is the fact that this project had its IEO over-subscribed, just within two minutes. With that said, this review covers everything you need to know about UpBots, suppose you are looking to give the platform a try.
What is UpBots?
Acclaimed as the first complete traditional and crypto trading marketplace, UpBots is a platform primarily set up for both experienced and nascent traders to trade their assets. It hosts and integrates several services, which were previously unavailable to every trader, on a single platform. Just a glance at the platform, its easy-to-use, and easy-to-navigate user-friendly interface will undoubtedly grasp your attention with its simplicity. Besides, UpBots features several interesting tools such as trading bots, trading courses, and other features that are tailored to traders irrespective of the level of the experience.
The part of platform’s mission is to provide a safe and secure place for crypto newbies to thrive. UpBots also features a range of study materials and trading courses. There is a learning marketplace under development where they aggregate the best courses from the best teachers in the world. These enable new and inexperienced traders with insufficient experience in crypto trading to understand the basics and access a wealth of knowledge at their preferred pace. Experienced investors and traders can also find some in-depth trading materials tailored for them on the platform. UpBots is both web and mobile-based which offers relatively similar functionalities. It also features a range of tools and strategies for users.
However, users who are not inclined to adopt the strategies preset by the platform have the luxury to develop their algorithm. Besides UpBots also allows you to rent your successful bot out and features a social copy that bridges the gap between experienced traders and newcomers. Not to mention the ability to trade CEXs and DEXs simultaneously. These are just a drop in the ocean of functionalities UpBots offers its users.
What Makes UpBots Unique?
The biggest thing that makes UpBots unique is the revenue model. UpBots don’t charge any upfront subscription fees and only charge users a fee when their bot closes a trade in profit.
When a user profits, then the Algo Dev gets paid a commission, so does UpBots, so do the staking pools and the burn program. UpBots can afford this because of their token UBXT.
As mentioned earlier, UpBots is one of the few projects approaching the landscape of the current trading ecosystem with uniqueness and creativity. It offers you more than what other trading platforms do relative to trading. Existing platforms only offer a few necessary tools with limited use on a range of platforms and exchanges. However, UpBots offers you tools considering your specifications and requirements. For instance, as a beginner, the platform offers basic tools that you can easily navigate and find your way around. On the other hand, it makes the more advanced trading tools available for more advanced traders. It also allows integration into decentralized and centralized exchanges, which ultimately facilitates a memorable and seamless trading experience.
Features and Options
As opposed to creating an exchange for itself, UpBots built a dashboard that serves as a medium to integrate every major exchange, allowing traders to trade with the best fees and spreads available. In addition, UpBots offer a range of tools such as signal provider, bots, charting tools, that are instantly applicable to every trading platform connected using APIs. Having said that, this section contains some UpBots’ interesting features that will definitely lay hold of your attention.
- The user interface
The user interface is one of the user-friendliest ever explored. It is easy to navigate, interactive, sleek, and features every features you will need as a trader. It has quick access buttons that make navigation more approachable. As a user, you can easily complete tasks such as viewing algorithms, checking wallets and balances, etc. The dashboard also serves as the homepage, where you can carry out several activities directly. UpBots is on the 2nd iteration of the interface and for the full commercial launch in the near future, they have hired a super star UX designer who has worked on projects such as Paypal.
- Trading Bots
This is arguably the most exciting feature on UpBots. Using these bots, you can easily streamline your trading strategies as a trader. Not only are these bots easy to activate, but also when activated, all a trader needs to do is sit back and watch the bots trade their assets for them. Traders just need to select the exchange they want to trade, as well as the amount of capital on each bot. They will also need to allocate UBXT to the bot for the payment of Performance Fees (the commission payable on successful trades). On setting these parameters, the bot handles the rest.
What’s even more intriguing is that UpBots is incorporating a simple guided process that will enable users to develop their unique bots and define their strategy much better. Users will be able to create unique trading bots via the interactive and user-friendly interface. This feature is tailored for traders who want to create their bots as opposed to renting those developed by others. Using the preset options, and with no prior knowledge about programming languages, you can easily create your own bot following alerts from Trading View.
- UpBots marketplace
UpBots also developed a marketplace where users can trade algorithms and bots. This is a somewhat handy feature for new traders as they can access effective bots and algorithms via leases. This feature is particularly beneficial for emerging traders as they can access proven bots and algorithms through it. As the project is further developed, the marketplace will also permit traders and other users to sell their algorithms. The revenue model for this feature is charging trading fees only when traders profit from the leased bots and algorithms.
- Performance and portfolio management
UpBots features multiple effective, powerful, and advanced tools that can help users monitor their portfolio from diverse wallets and exchanges. The innovative and faultless management interface enables them to keep track of the portfolio’s evolution and alterations using real-time updates on asset balances across multiple platforms. At the moment, this project supports a range of exchanges such as the FTX, Binance, and several other crypto exchange platforms as well as DeFi and the decentralized wallets of Meta Mask and Trust wallet. This data is provided by their partner Covalent.
With the development of the platform’s trade performance tracker, UpBots will further facilitate a vast range of functionalities that makes trading on exchanges a more accessible and approachable task. Users can launch manual trades on supported exchanges using the platform, which will help traders will further enable traders to streamline their trading efforts using market sentiments via an order book review, right at the page’s bottom.
The Token, UBXT
Essentially, UpBots is a form of a circular economy whose range of activities revolve around the UBXT token. The UBXT token is blockchain agnostic. It is available on ETH, and BSC and SOL via bridges and without affecting the total supply or market cap. The payments include subscriptions to UpBots, signal providers, performance fees, social copy trading performance fees, the referral part and training courses. Anyone who refers a new platform member, as well as the referred, can also earn the token as a referral bonus.
In addition, this token’s usability will partially extend to the commissions for trading bots and social copy. As such, advanced traders get to earn UBXT by making their strategies and bots available for the use of other traders. UpBots keeps a meager percentage of these commissions as a fund targeted at further development of the platform. A portion of their UBXT income will also be burnt regularly to prevent inflation of the token.
The supply will always be reduced forever through buyback and burn programs, of which there are 3. The first two will aggressively burn tokens in real-time with every successful trade made on the platform, and annually with company profits until there is only 50% of the current supply. After that, another burn program will continue to burn a % on a continual basis ad infinitum.
Users can also stake single-sided on the platform or farm LP tokens from both Uniswap and from Pancakeswap. With this, users can earn rewards and incentives like free access to trading tools and courses.
As a trading platform, UpBots features every functionality tailored for the success of both experienced and amateur traders alike. Besides, several exciting features distinguish it from other platforms within the ecosystem. In summary UpBots is a next-gen trading platform that will establish a robust trading ecosystem with the potential to disrupt the trading framework of crypto assets.
UpBots is gradually establishing itself as a go-to platform for crypto assets trading with a range of tools and features to connect with diverse exchanges, just from an easy-to-navigate dashboard.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.