Upbots – Demo Review and Tutorial
After spending over 10 months in development of their MVP, the demo for the Upbots trading platform went live recently. Note that, since this is a demo version, most of the features are still disabled, but will become available over the next few weeks. However, what we can already see from the platform gives us a glimpse at what appears to be a user-friendly trading interface with many interesting features.
If you’re an active crypto trader (or want to become one), I can only recommend you to try out their platform. Upbots allows you to trade on multiple centralized and decentralized exchanges from a single easy to use dashboard.
However, what really sets Upbots apart from other trading solutions is their trading bot marketplace. This allows you to put your money on autopilot by staking it to a worthy trading bot, or to set up a trading bot on your own and earn commission in the form of Upbots’ native UBXT token. So let’s head right in and take a look at the trading dashboard.
Here you can also connect your MetaMask wallet, in order to access your UBXT. Alternatively you can draw UBXT from your FTX account, where the token is listed.
In order to be able to use the platform, you need to sign up of course. You can optionally provide more personal info, as well as add a profile picture and enable 2FA. Afterwards, you need to provide API keys to connect your exchange accounts to the dashboard.
Once this is done, you can immediately see the total balance of each exchange account in the wallet section.
At the moment, Upbots supports Binance, FTX, Huobi, and BitMEX. More exchanges will be added in the near future. Once this is done you can issue manual trades on any of the markets the respective exchanges offer. One feature that I particularly like is that there is both a simple and an advanced trading UI.
The simple UI allows you to make market or limit trades without any further adjustments. With just one click, you can switch to the advanced UI, which has all the complex trading orders you might need. In the near future, Upbots wants to add more features, such as risk management tools and cross-market orders.
In the marketplace section, you can find the list of all trading bots that have been created so far. A graph displays each bot’s prior trading activity and past performance. This let’s you profit from the most successful trading strategies offered on the marketplace.
If you want to create your own trading bot, a simple UI will guide you throughout the whole process. In this interface, you can exactly specify how your bot behaves under the various possible market conditions. All bots on the marketplace fall into one of three categories. They can either pursue a long strategy, short strategy, or a combination of both.
Upbots is constantly continuing to improve their platform, with their roadmap reaching to 2022 and beyond. The next features they are going to implement are forex and commodities trading, DEX integration, DeFi staking, signal providers, social copy trading, and a learning section.