Making money from markets is really really difficult. 96% of retail traders lose money.
After spending countless hours in front of charts trying to look for ‘good entry points’ I can vouch for this. The problem is magnified even further in crypto simply because there are 1000’s of crypto markets and each market is 24*7.
Everyone is not meant to become a trader and everyone shouldn’t try it too. This is exactly why I believe that a vast majority of us should focus instead on investing and algos and bots are one of the best places to park your money. Having said that, finding the right platforms, people, and bots to invest in is equally challenging.
When I am picking a bot to invest in look for
- Transparency of information
- Stable predictable returns
- Low costs relative to expected returns
But surprisingly, even in 2020, the crypto market is filled with scams, inefficient, and painful to follow signal groups and doggy signal marketplaces.
This is where Mudrex outshines everyone else. Mudrex makes investing in crypto trading bots as simple as investing in a mutual fund. They are very transparent about their info, have a wide variety of trading bots based on our risk appetite and a pricing model that is by far the best I have seen.
If you were looking for a platform using which you can invest your crypto, then Mudrex might just be it!
Summary:
- Simple intuitive design and super easy to use.
- Much better pricing model based on the amount an investor invests instead of a fixed fee
- With their Mudrex Protect feature, you get your money back if your investment does not give your returns
- API key-based investing. Invest and withdraw at any time. No Exit fees!
Mudrex Features
We could divide all the features in 3 parts: Management, Trading & Automation.
Making it easy to decide which bot to invest
The most important thing when it comes to deciding where to invest is
- figuring out which bot is good and which is bad
- picking a both where the risk vs reward is what suits your appetite
Mudrex created a proprietary metric called the ‘Performance Score’ to help investors choose wisely! The Performance Score is a number that varies from 0 to 10. The higher the number, the better the risk vs reward for a strategy. Any number <=4 can be considered as poor, 5–7 can be thought of as average, and >=8 can be thought of as good.
Apart from this, their bot listing page makes it easy to check the important metrics like returns, days since live, fees etc. They also have the options to sort and filter which makes picking a bot simple.
You Might Also Be Interested In:
- Mudrex Strategy Builder Review —Automating your crypto trading was never easier
- Trading or Investing: How to Choose a Fitting Strategy?
- TradeSanta Crypto Trading Bot Review
- Different Types of Crypto Trading Bots
No need to transfer funds with API based integration
In crypto it’s extremely difficult to trust third parties which is why people who ask you to deposit funds with them are a big no-no. Mudrex has done a great job of integrating with a ton of top exchanges like Binance, Bitmex, Bybit, Coinbase etc. All you need to do is connect you API keys base
You don’t pay if you don’t make a profit!
There is never a guarantee of returns when you invest in any product. In a lot of cases, users end up giving fees even when the bot they put money in ended up making a loss. This is where Mudrex Protect helps.
The idea is simple, If the bot makes profit for you then you pay, if not then you get a refund of your fees! Refunds are automated and come with no questions asked!
‘Investor first’ approach
Now I know this is not a single feature, but what we really liked is how just everything on the platform comes together to solve basic problems that common investors like us face. It’s the simpler things like, enabling a variety of payment options, API key-based integration, making sure that users are not burdened with random fees, etc is what truly won our hearts and wallets!
Active community and quick support
Unlike other trading platforms, Mudrex has a large and thriving community of traders and investors on discord. They also use Discord as the primary channel for customer support and quick resolutions. Folks from the founding team and other dedicated users of the platform are always around when help is needed.
The founders of Mudrex provide one-on-one demos to any user who needs it. All it requires is a short form fill!
How it Works
Select A Strategy
Go to Mudrex Invest and decide which strategies you want to invest in
Sign Up
Sign up on Mudrex.com
Connect Exchange
link your account with one of the supported exchanges with your API keys.
Add Balance And Go Live!
Add a card or prepay using Mudrex Balance and Go live!
Signing up on Mudrex is super simple and the whole process takes just 5 mins. Once you’re signed up you can quickly test strategies and go live.
Here is an excellent demo was given by another Mudrex user that you should look at!
Pricing
Pricing is probably the biggest differentiating factor for Mudrex and is nothing short of revolutionary. Most bot platforms charge a high fixed fee irrespective of the amount that you as an investor invest. This is unfair both for the creator of the bot and the user. On Mudrex instead of a fixed fee, the bot creator decides a % fee amount which is based on how much an investor invests.
Eg: Let’s say you decide to invest in a bot that charges 2% a month. If you invested 200 USD in this bot your fees would be just 4 USD! Similarly, if you invested 2000 USD, your fees would just be 40 USD.
This democratic approach to pricing make Mudrex a very attractive platform for both traders and investors!
Comparison with other products
There are several different kinds of products out there when it comes to investing in bots. 3commas, Cryptohopper, and Zignally, all three provide some kind of signals marketplace.
Kryll, a platform similar to Mudrex, has very limited options. Others like Haas, Gunbot, TradeSanta, etc are a little complicated for beginners. And across the board, all of them are little expensive!
When compared with its peers, Mudrex seems years ahead. The product quality, focus on making life easy for the customer and large spread of option is what makes it one of the best if not the best platform to invest.
Also Read: Five Best Crypto Trading Bots
Performance and Security
Unlike actual cryptocurrency exchanges, Mudrex does not hold your assets. The assets are all stored in your existing exchange account that you have connected to Mudrex(Coinbase, Voyager, Kraken, Binance, etc.). You simply connect your API keys and get started.
In their support articles, Mudrex claims that, all important personal information is stored using bank-level AES-256 encryption and addition, all API traffic is secured and goes through SSL and uses TLS 1.2 to prevent third parties from eavesdropping on your connection.
For payments Mudrex says that they use Stripe as a payment partner so the credit card info etc is all stored with Stripe.
Mudrex Invest Pros and Cons
Pros
- Simple intuitive design and super easy to use
- Much better pricing model based on the amount an investor invests instead of a fixed fee
- With their Mudrex Protect feature, you get your money back if your investment does not give your returns
- API key based investing. Invest and withdraw at any time. No Exit fees!
Cons
- No Notifications when orders are placed (yet)
- The UI can sometimes be a bit slow
Conclusion
While exchanges are busy spending time more on launching new tokens and assets only to increase their trading volume, platforms like Mudrex are actually working on the right problems and are making sure that traders actually end up making some money!
Overall we were very happy trying the product out. It is still early in the space but Mudrex is rapidly evolving to the one place where every trader across asset classes will want to be in the near future.
Frequently Asked Questions
Who creates Mudrex Invest Strategies?
Each bundle on Mudrex Invest is a portfolio of multiple strategies created to work together and provide consistent gains month over month. Every bundle gets reviewed by the Mudrex Review council before it gets published.
What is Mudrex fee?
The creator of the bundle decides the fees you pay which is a % of the amount you invest. Fees are charged on a monthly basis.
Is the pricing based on trading volume or amount invested?
The pricing is “Invested Amount” based, i.e. it’s a monthly price you pay based on what you invest. It is not calculated on the basis of trading volume or number of times you trade.
How are “Invested Amount” based fees calculated?
When a user invests, we calculate
- Sum of USD amount of their current investment (A)
- USD value for which they have already paid fees (B)
- Fee rate (C)
Fees to be paid = C*(A-B)
These fees are then pro-rated and charged for the rest of the month. At the 1st of the next month, we do the exact same calculation and charge you automatically.
The fee rate (C) is different depending on if you are investing in your own strategy or via Mudrex Invest.
Is Mudrex legit or safe?
Yes, Mudrex is a Y combinator backed stratup with experience team from Twitter and other famous companies.
Mudrex Alternatives
Shrimpy
Shrimpy is social portfolio management and crypto trading platform for your personal crypto investments. The application focuses on long-term strategy automation, portfolio tracking, and copying strategies from other traders in the social program.
Quadency
Quadency, a crypto trading automation platform launched in 2018. It brings you a smarter way to trade and manage your crypto.
Pionex
If you’re a crypto trader who loves using crypto trading bots, Pionex will be your first choice. Pionex provides simple tools for trading automation.
