It cannot be easy to invest in anything, much fewer cryptocurrencies.
Problem?
Time constraints and misunderstandings. For these very reasons, investment professionals have formed intermediaries like banks, insurance companies, and mutual funds to handle all the heavy lifting. Bitcoin is not an exception. But unfortunately, there isn’t a simple answer to this problem.
We will be able to help you here. Here, we’ll concentrate on his analysis of automated strategy provider Mudrex.
Ready? Okay, let’s go on.
1. Describe Mudrex.
Mudrex offers automated investment solutions for cryptocurrency.
Simply put, they provide a carefully curated variety of investment products from which you can choose according to your risk tolerance.
2. Which goods does Mudrex provide?
A coin set is a collection of cryptocurrencies selected to represent a specific topic. Current coin sets include some of the following:
cryptocurrency token
Token NFT
The platform for Smart Contracts (Tier 1);
Top-tier crypto assets
You can invest in your ideas using these coin sets. For example, let’s imagine you read an article suggesting the Metaverse currency will be the next big thing, but you don’t sure which coin to invest in. Coinset removes this barrier.
mint madrex
These three products are a group that adheres to the mutual fund model.
Minimum amount to invest
available at all times
Comparing products with high (like equities funds), moderate (like balanced funds), and low (like return funds) risk/reward trade-offs.
2. Which goods does Mudrex provide?
A coin set is a collection of cryptocurrencies selected to represent a specific topic. Current coin sets include some of the following:
cryptocurrency token
Token NFT
A platform for Smart Contracts (Tier 1);
Top-tier crypto assets
You can invest in your ideas using these coin sets. For example, let’s imagine you read an article suggesting the Metaverse currency will be the next big thing, but you don’t sure which coin to invest in. Coinset removes this barrier.
mint madrex
These three products are a group that adheres to the mutual fund model.
- Minimum amount to invest
- Available at all times
- Comparing products with high (like equities funds), moderate (like balanced funds), and low (like return funds) risk/reward trade-offs.
Once more, Mudrex traders struggle with money management while you, the investor, profit passively.
Algorithm Mudrex
These trading bots are based on technical analysis and are made available by traders on the Mudrex platform.
Since our automatic investments come with various techniques, there is no need to learn TA or find time to trade actively.
Account for interest
Similar to a bank savings account, but with a 14% annual return and a low-risk rating.
Target switch
For coins listed on Coinbase Pro, Binance, By bit, Deribit, OKEX, and BitMex, these items are accessible.
Mudrex holds no funds and only provides the investment strategy that may be implemented through API key connectivity on your funds at the aforementioned exchanges.
How about the Mudrex figures?
Only $20 million of the 700,000 investors utilizing Mudrex’s platform, according to Mudrex, are being managed. Contrast that with Zignaly, who works $120 million in funds and has 450,000 investors.
Zignaly has $4 billion in trading volume and $3 billion since launch.
If the data is accurate, many accounts appear inactive, which may result from a small amount of managed assets. The initiative claimed that, by the first quarter of 2022, it would surpass all other index asset managers for cryptocurrencies. However, the data doesn’t seem to support this claim.
Community
On Twitter, they have roughly 12,500 followers, but only 2,800 people follow them there. On Twitter and Discord, respectively, Zignaly has 86,900 and 13,000 followers.
Mudrex, is it legal?
Several approvals have been given to this project. Which are:
An open team that guarantees the project is not being done in secret.
Investors in this project must have her KYC.
The initiative has received funding from Y Combinator, a well-known venture capital organization, and several other prominent businesses.
Cited in publications worldwide, including Forbes, Business Insider, and Bitcoin.com.
Mudrex, is it secure?
However, like any investing app, the initiative is susceptible to market-related investment risks even though we found no evidence of misappropriated or stolen money during our examination.
All other products—aside from Algo—are offered on a proprietary level and are run by experienced traders. However, even though they are susceptible to the same prejudices as people, they are considered less prone to risk management.
The platform provides a robust strategy builder and backtesting engine to allow algos, community-driven bots, to be improved and made market-ready. Once more, a risk management protocol is anticipated to be included in each of these automated solutions.
Compared to fiat currencies, investments are nevertheless susceptible to translation risk. For instance, while you can get 14% interest on a stablecoin in dollars, your overall return will be impacted by how much your local currency appreciates against the dollar.
We also recognize that they are storage-free solutions. This means that monies are kept in your exchange account instead of the platform or algorithm builder (similar to Zignaly).
Connect your exchange account to your Mudrex wallet using an API key. Modern encryption software protects your money and identity.
6. Where can I invest in Mudrex?
The onboarding procedure for Mudrex is fairly straightforward.
Sign up for a Mudrex account or log in (you can use your Google ID to bypass the password selection process).
Connect your API key to your favorite exchange.
Choose the money and the bot you want to invest in.
You can proceed once you have paid the platform charge. 7. What is the pricing scheme for Mudrex?
The treatment has a minor fee (depending on the plan you select, it can be as little as $5/month).
They use an investment-based payment mechanism that only levies fees when the trading algorithm of their choice uses the funds. Unused money are not charged any fees.
How does Mudrex generate revenue?
Despite the lack of evidence, it is assumed that Mudrex generates income via the following two channels:
The customer’s account is charged with the administration fee. This is modest and depends on the plan or bot you select, as was previously stated.
Customer-focused brokerage as an alternative to exchanges. You receive a return if you direct your transaction to a particular business.
For traders who want to create their algorithmic trading strategy, we charge a fee (although there is also a free version)
What plans does Mudrex have for the future?
The protocol has started “Project Phoenix,” a significant redesign of its user interface. As a result, the Mudrex changes its entire function, much like a fabled creature that burns to ash and then regenerates.
It consists of, in essence:
Reserve and upgrade the dealers’ specific online infrastructure. The protocol believes that traders will continue to be drawn to algorithm-driven products due to its strategy builder and backtesting engine, giving customers options. Move small-scale investors to new app-based systems. By doing away with the necessity for computers, the intention is to encourage investment simplicity (because more people have smartphones than PCs).
verdict
Given how challenging it may be to accumulate knowledge and free up time to manage one’s cryptocurrency portfolio, Mudrex checks all the right boxes, making it a practical option for individual investors.
The onboarding procedure is straightforward, and the cost is attractive overall. In addition, the backtesting engine and strategy formulation tool are both exclusive offerings.
There are certain drawbacks, though.
Instead of offering clear directions, the blog is written carelessly, and there is no help section. For instance, it is claimed that Mudrex has an insurance product that will pay out if a specific strategy does not provide the specified assured return.
Data self-disclosure and measured community metrics are not related. The information could be inaccurate, or there could be inactive accounts with no indication of survivor bias. In addition, we lack information on whether the average account size is smaller than that of competitors.
The whole web interface is devoted to a strategy creator and backtesting engine, suggesting that quantity rather than the quality of traders is the focus. This argument’s drawback is that because investment success measurements are transparent, dishonest traders (and their tactics) will be made public.
Overall, this is a good solution addressing a significant issue in democratizing access to high-end investment strategies, particularly cryptocurrency.