In a Nutshell: As cryptocurrency trading evolves, investors are gaining access to more efficient and potentially rewarding ways to invest. Mudrex is one company helping to make this possible with its innovative platform that allows for automated trading based on pro-level strategies. The company focuses on facilitating a reliable, trustworthy, and scalable platform to help drive crypto adoption. Getting started on the platform just takes a few simple steps and users can be on their way to selecting investment bundles developed by seasoned professionals.
The world of cryptocurrency trading has come a long way in just a few short years. Bitcoin and Ethereum are household names, and hundreds of other digital currencies are available for folks to purchase, sell, trade, or store.
Still, the crypto ecosystem does not yet possess all the parallel tools and strategies the fiat trading world has for maximizing investments and growing funds.
But companies like Mudrex are bringing the two worlds a lot closer.
Mudrex was founded in 2018 by a group of fintech-savvy entrepreneurs with the idea to create a crypto exchange similar to Binance or Coinbase. But it wasn’t long before the young startup was grappling with Indian laws that constricted the impact of its platform.
“We realized that, if there is not support from the central government, there would literally be no market for what we were building,” said Mudrex Co-Founder Edul Patel.
So Mudrex pivoted and came out the other end as a much more innovative platform for the evolving crypto market. Patel said the company conducted research, including speaking directly with crypto enthusiasts, which led the platform to its next iteration.
“The number one problem that traders faced was that crypto is a 24-7 market,” he said. “They wanted the ability to automate their trading because, half the time, the orders they wanted to place would have to happen when they were sleeping.”
That’s when Mudrex decided to focus on building tools to help people automate their trading strategies. The result is an innovative model that allows crypto traders to select from an array of trading strategies and let Mudrex do the work for them.
Patel said from Mudrex’s earliest days, the company wanted to help drive the adoption of cryptocurrency and offer on- and off-ramps between fiat and digital currencies.
And with its automated investment platform, entering the world of crypto is simple and straightforward.
“By October 2018, we launched our first version of this automation,” Patel said. “It was a simple visual drag-and-drop based builder. We decided to first focus on those traders who want to automate without writing code because probably 95% of traders don’t know how to code.”
The Mudrex platform gave traders tools to help them automate their trades without the need to possess coding expertise.
In 2019, Mudrex participated in the well-known startup incubator Y-Combinator in San Francisco. Over the course of three months, Mudrex built out its convenient platform with the guidance and some monetary support from Y-Combinator.
“By that time we started to see a lot of traction — a lot of strategy creators getting really good strategies on our platform,” Patel said. “So, by about March 2019, we were close to 400 to 500 traders using Mudrex.”
The objective at Mudrex has always been to help people invest in crypto using tactics that are reliable, trustworthy, and have the potential to scale, Patel said.
“One of the biggest problems that we realized by building this product out was that most trading strategies are built to run in certain market conditions,” he explained. “Some strategies are trend following, some strategies are range bound, and other strategies are mean reversion-based.”
Each of those can work well individually in certain market conditions but when conditions change, the chosen strategy may fail to produce the desired results, Patel said.
“So we allowed creators to, instead of publishing one strategy, publish a portfolio of trading strategies that work together very well,” he said. “So now, instead of putting your money in one trading strategy, when an investor is investing in the background, they were actually investing in an automated fund created by this trader, which has multiple strategies.”
Mudrex also goes to great lengths to make sure all data is secure, according to the company.
“Important personal information is stored using bank-level AES-256 encryption on our servers,” according to the Mudrex website. “In addition, all API traffic is secured and goes through SSL and uses TLS 1.2 to prevent third parties from eavesdropping on your connection.”
The platform’s API keys only have access to trading permission — no deposit or withdrawal permission is granted. This means that Mudrex does not at any point actually touch investor funds at all. They remain under the investor’s control.
Finally, the investment strategies are proven to be scalable to accommodate a range of investors, according to the company.
For those interested in learning more about how exactly the Mudrex automated investment platform works, we’ll run through an overview of getting started on the platform.
“Mudrex Invest is a curated collection of high-quality trading bundles made by the best traders on Mudrex,” according to the company website. “Investing in a bundle is very straightforward.”
The first step is selecting a bundle to invest in.
“There are multiple bundles that are listed on the Mudrex Invest for you to pick from based on your risk appetite, available exchanges, and preference,” according to the website. This means investors who are just dipping their toes in the investment waters can choose a low risk/low reward strategy while others can select high risk/high rewards strategies.
Mudrex currently supports multiple exchanges, including Binance, Coinbase, OKEX, bybit, and BitMex.
Once users select the exchange of their choice, they add a payment method and begin investing their funds in the strategy of their choice.
Investors would not be able to select investment bundles if it weren’t for the expert traders who are creating the bundles and making them available on Mudrex. The company makes available a list of best practices traders should follow when they submit their bundle for review.
“Each bundle will be evaluated by all members of the Mudrex Review Committee (RC),” according to the website. “To ensure that bundles submitted are of high quality, every member will have the veto right to reject the strategy. At no point in time will the RC have access to how your strategy is built. Your strategy is only yours.”
If a bundle is rejected, the RC will provide detailed information about why the submission was not accepted, according to the company website.
Many newcomers to the crypto world simply purchase a few coins, or portions of coins, and hold them as a store of value. But with Mudrex, crypto investors at all levels can invest funds into an automated strategy based on expert traders. The platform’s approach certainly has the potential to make major headway toward its goal of driving adoption and bridging the fiat and crypto worlds.