UpBots’ growth this year has been quite significant so we decided to take a closer look at their newly released app.
Why use the UpBots app?
- It's smooth and functions well, the design is modern, sleek and uncluttered, with every essential element included eliminating the superfluous.
- Users can activate a bot easily - in just a few clicks, no time is wasted.
- Users can monitor their portfolio from wherever they are.
What makes the Upbots platform unique?
It's not any one thing, but rather a combination of factors:
- Free crypto trading platform
There is no need to purchase a subscription to access the platform's portfolio monitoring or trading services. It only takes a few minutes to link an API (Binance, Kucoin, Huobi or FTX) to start trading.
- Algo renting platform (Users)
In addition to manual trading, users can also rent a trading bot. This is an interesting feature, which requires the purchase of UBXT, the token of the Upbots platform. This token is then used to pay the performance fees.
- Algo renting platform (Developers)
The algorithms available on their platform are developed by independent coders, who earn a part of the performance fees. If the bot makes profits for the users, everybody wins. It is worth mentioning here that Upbots use a system of "true performance" fees. If a trade is positive but the user's capital is not at its All-Time-High, then they don't pay any fees for that trade.
- Long/short algorithms
This may sound trivial, but not all platforms have this feature. Having the ability to rent an algorithm that not only goes long but also goes short is a must-have in times of market consolidation.
UpBots Algo developer Outreach
The Upbots platform works with a performance fee model for algorithm rental. They announced their search for the best algo developers in the industry offering them between 2% and 9.25% on each trade that makes a profit for the users.
If there was $500,000 of capital using an algorithm that makes a positive trade of +10%, the Developer would then earn between $1,000 and $4,625 - and that is on a single trade only. Sounds like an interesting option for Developers looking for some extra income and recognition.
After reviewing their platform, we believe that Upbots has a bright future ahead.
- The available algorithms allow coders of all backgrounds to gain visibility.
- The platform is easy to navigate, users can quickly find their way around and connect to a bot with a few clicks. It is very important to say that both, UpBots platform and their app, deliver simple and intuitive user experiences.
- Finally, the possibility to use a long and short bot allows an exposure to the market whatever the state of the latter. The market has been declining for more than 4 months now, so a short strategy is very welcome and allows users to still profit.
You can download their app here: https://play.google.com/store/apps/details?id=com.app.upbots&hl=en&gl=US