According to an update on the crypto platform’s help page, Coinbase wallet will no longer support payment network Ripple’s XRP token. The digital asset is not the only cryptocurrency Coinbase has delisted as Bitcoin Cash, Ethereum Classic, and Stellar will also be unavailable. Coinbase Halts Wallet Support for XRP, BCH, ETC, and XLM The delisting will take effect from January next year and Coinbase’s wallet application will drop support for the aforementioned tokens. Coinbase Wallet like MetaMask and similar providers…
Cryptocurrency trading has enhanced the universe of assets available to traders worldwide. However, this practice is challenging for inexperienced or unskilled traders. Furthermore, the ongoing bear market makes trading costly and inconvenient when most platforms charge upfront or subscription fees. As a result, many people avoid entering the market.
UpBots aims to change that and take the trading industry to a new level through innovative and affordable solutions. For one, its automated trading service allows users to trade in CEX without paying monthly subscription fees. Here are three ways to get more from your trades with this revolutionary platform!
How Does UpBots Work?
UpBots is a comprehensive trading ecosystem incorporating safe and efficient tools for manual and algorithmic trading and cryptocurrency staking. Anyone can join and start trading immediately, regardless of their experience or skills. Thanks to its automated mechanisms, users can participate in successful trades even when they’re away from their stations.
The platform allows users to trade crypto assets on any CEX or DEX, stake capital for automated trades, and create simple or complex manual trades. Additionally, they can build their bots and enhance their skills by following UpBots’ educational courses.
Let’s break down some of these exciting features!
Automated Trading with Algobots
UpBots allows users to activate automated trading bots, Algobots, and start trading automatically from day one. This social trading service is easy to set up and does not involve upfront fees. Moreover, it is effortless to use even by traders with zero experience or skills.
The Algobots take commands from a trading algorithm, from which they also get their quirky name, “Algo.” They then execute BUY or SELL orders depending on the signal they receive from the specific algorithm. Therefore, crypto trading bots work whether the traders are at their trading stations.
UpBots stands out from the competition through a whole range of features. However, the unique design of its trading algorithms makes a difference. For instance, they provide profitable entry and exit signals depending on current market conditions, enabling bots to interact with exchanges and do the entire work for the trader. As a result, successful trades can use advanced market knowledge and understanding.
The platform does not develop the Algobots. Instead, it takes them from third parties only. UpBots only offers them the conditions for executing the trading algorithm’s commands. Additionally, other developers can use it to host and rent their trading algorithms to other users.
Picking an Algobot is easy, thanks to all the statistics available in the Dashboard, including profit and loss, monthly average trades, etc. This way, new and expert traders can find and rent the best Algobot that suits their trading strategies. The bot will buy low and sell high, aiming to perform successful trades regularly.
Moreover, UpBots periodically tests the Algobots’ performance and quality to ensure the safety and productivity of the platform’s users.
Developers can create their bots in the UpBots UI and rent them to others. In return, they earn a percentage of profitable trades involving their bots. This is possible through UBXT and smart contracts.
Those preferring a more hands-on approach can opt for the Basic Manual Trade feature on UpBots. This service enables users to execute manual trades across multiple exchanges and exchange accounts from one user interface. Currently, this feature is supported on exchanges including Binance, FTX, Coinbase Pro, and KuCoin for spot trading. However, the platform looks to add support for more exchanges soon.
Manual trading is ideal for traders who operate across multiple exchange accounts and want to manage and trade cryptocurrency from a central dashboard. The platform allows them to easily create and connect their exchange accounts using API keys. UpBots guarantees the users’ safety by encrypting each API key it receives.
Staking on UpBots
Staking is an excellent tool for generating passive income, and UpBots includes it in its versatile offer. For instance, users can deposit UBXT or LP-UNI tokens via smart contracts. They can do so directly through the user interface in the platform’s pools on Ethereum and Binance Smart Chain. This system involves the distribution of rewards at each block among all participants, regardless of the total stored in the smart contract.
Stakers benefit from lower performance fees when using Algobots. Also, they can receive UBXT tokens every time they deposit more staked funds into the pools. Lastly, they can get access to community bots for free in exchange for their stakes.
The Bottom Line
UpBots is a high-performance trading platform operating from Switzerland. Behind it are a dedicated core team of 16 highly-skilled professionals and the support work of 20 to 30 people from adjacent teams.
The platform’s goal is to revolutionize the trading industry and attract more traders to crypto, regardless of their skills or experience. The platform has already signed strategic partnerships with other industry members, including Reserve Protocol, Covalent, Dex.AG, IDEX, and HXRO.
Contrary to other trading platforms, UpBots does not charge upfront fees or monthly subscriptions. Instead, it only takes a percentage of profitable trades.