The Swiss-based trading platform UpBots aims to be a one-stop-shop for all necessary tools for both amateurs and professional traders. Rather than building an exchange themselves, they are developing a dashboard that connects multiple exchanges with charting tools, trading bots, signals, an online learning platform and more.
Let’s take a closer look at the tools and services provided by UpBots.
The main problem UpBots want to tackle is that it takes a lot of time to learn the ins and outs of technical and/or fundamental analysis. Without this knowledge, crypto trading is not more than a guessing game, which oftentimes leads to substantial losses for amateur traders. Professional traders on the other hand do not have an incentive to share their knowledge.
Through the UpBots platform, traders can offer their trading signals and trading bots on a marketplace for other traders to use. This allows users to automatize their trading activities, either by accessing a trading bot from the marketplace, or through social copy trading. As a compensation for providing these trading signals and bots, professional traders earn a commission on all profits made from using them.
Aside from a marketplace for social copy trading and trading bots, UpBots connects multiple of the largest exchanges through a user-friendly dashboard, which makes it possible to always trade at the best conditions. While users can also choose to simply put their crypto holdings on “autopilot”, UpBots also features an online learning platform, which helps users to get started with trading on their own.
Furthermore, there are trading tools that not only help in charting across multiple exchanges, but also include risk management tools, which provide a risk score for a user’s positions. This should prove helpful in evaluating one’s exposure to volatility on the crypto markets. While UpBots primarily focuses on crypto trading during the early stages of their rollout, they are going to add Forex trading as well at a later date.
UpBots is being developed by Solfin Consulting, who also have the companies 4C-Trading and BrainFeed under their umbrella. 4C-Trading is an established trading signal provider, which will be featured on the UpBots platform. BrainFeed is an online training platform with a strong focus on blockchain technology and crypto trading. This will serve as the basis for the online learning courses on UpBots.
UBXT is the primary payment token for the UpBots platform. It is used for subscriptions to the platform, training courses, trading signal providers, and referrals. The platform also pays out UBXT for users who participate in the “ask the market” prediction game. The results of this prediction can also be used by traders as an indicator of market sentiment.
Users may also opt to stake UBXT in order to receive benefits, such as reduced or free subscriptions to the platform or online training. As a compensation for sharing their knowledge, professional traders receive a commission, which is also paid in UBXT.
UpBots has distributed the first two batches of UBXT in private token sales to a select number of private investors and sold out quickly. A third smaller batch will be sold in a public token sale. The date for this will be announced soon.