Multibot aims to lower barriers to entry in the world of cryptocurrency exchanges. Find out how it works today in our review.
What is Multibot?
Multibot is a trading robot run from a Europe-based network of cloud computers. The project’s whitepaper was released in September 2017.
Multibot aims to generate profits for investors by using machine learning and algorithms to buy low and sell high. You can buy Multibot tokens (MBT) during the token sale to earn a proportional share of 50% of profits generated by the trading robot.
The whitepaper doesn’t do a great job of explaining Multibot or how it works, and there’s limited information about the developers or team available online. However, since the whitepaper was released, more information has appeared online at the official website. With that in mind, let’s take a closer look at how Multibot works.
What Problems Does Multibot Seek to Solve?
Multibot’s whitepaper mentions several major problems in the world of cryptocurrencies. They mention strong volatility, for example, which “leads to losses of investments and the capital or to the missed profit.”
The fluctuations aren’t the problem; instead, Multibot points to the fact that the markets run 24 hours a day, 7 days a week. This makes it virtually impossible for a single investor to monitor.
All of these problems illustrate the value of a trading robot. That’s what Multibot seeks to offer the crypto community.
How Does Multibot Work?
Multibot hasn’t published much information online about the project. The company claims they’re not publishing much information due to security reasons. That’s why they can’t disclose “the real infrastructure, location of the equipment, real IP addresses, source code and list of solutions used.”
The whitepaper doesn’t do a great job of explaining the core function of the platform. The paper mentions cloud computing, for example, and claims they have some cloud computing facility located somewhere in the world.
The Multibot cloud computing facility runs a fully autonomous trading robot. That robot “executes cyclical sales transactions on exchanges with a given algorithm in order to turn funds around and make a profit.”
The trading algorithms are based on two core principles:
- Buy low and sell high
- Sell high and buy low
The company claims to use machine learning to choose the best selling point.
Multibot’s trading robot comes with a free and paid version. The free version allows you to familiarize yourself with the system’s capabilities in an ad-supported environment. Meanwhile, the Multibot paid subscription is intended for users who actively trade cryptocurrencies. The main role of the subscription is to provide priority technical support.
Multibot’s pricing information is not listed in the whitepaper. However, the information is listed on the official website. Here’s how pricing plans break down:
- Auto Trading: 1 Pair
- Tasks: 1 task
- Signals: 2 signals
Professional (0.01 BTC)
- Auto Trading: 4 Pairs
- Tasks: 4 Tasks
- Signals: 8 Signals
These are the only two subscription plans listed on the official website. The professional plan appears to be a one-time fee. 0.01 BTC is currently worth about $120 USD.
Multibot is launching an ICO to finance the launch, promotion, and development of the platform. The company will use Multibot investment tokens, or MBT. These ERC20 standard tokens are built on the Ethereum platform.
As an MBT token holder, you gain the right to share in the platform’s profits. 50% of the platform’s profits will be distributed to all active token holders. This profit will be distributed at the end of each quarter in the form of ETH, using smart contracts.
A total of 25 million MBT tokens will be available during the ICO. Any unsold tokens remaining at the end of the ICO will be destroyed. The price is set at $1 USD per MBT token.
Of the total supply, 95% of tokens are going to users through the token sale, with the remaining amount going to founders (3%) and bounties (2%).
The Multibot ICO took place from October 20 to November 26, 2017.
Who’s Behind Multibot?
The Multibot whitepaper has no team information, nor does it list any authors. The whitepaper mentions “Europe” as a location, but they don’t list any more specific location data due to security reasons.
Fortunately, there’s some team information about the Multibot team online at Multibot.io. The website lists Evgeny Sudakov and Alexander Svininykh as “Development” for example, and Ksenia Svininykh as “Marketing”. The team is described as “a team of professionals in various fields, who combined their efforts to create a multifuctional platform for working with cryptocurrencies exchanges with the aim of making profit and protecting one’s savings.”
Multibot is based in Moscow, Russia.
Multibot is an automated trading robot announced online in September 2017. The Multibot whitepaper is a mess of information about the project, and it fails to explain any specific technical details about how the trading robot works.
Based on the convoluted information in the whitepaper, the Multibot team has created a cloud center located somewhere in Europe, and they’re running a trading robot from that cloud computing facility.
The trading robot uses algorithms and machine learning to buy low and sell high, generating consistent profits for investors. You can buy Multibot tokens (MBT) during the ICO to gain a 50% share of profits created by the trading robot.
For more information about Multibot, visit online today at Multibot.io.