Y Combinator-Supported Mudrex Expands To A Larger Audience Creating Crypto Trading Bots
Mudrex Expands To A Larger Audience Creating Crypto Trading Bots
After several months of operating in a closed beta, Y Cominator’s Mudrex aims at expanding to a wider audience around the world. In this way, traders will have the possibility to automate their strategies without having to write any single line of code.
Y Combinator Partner, Aaron Harris, commented about it:
“It seems obvious that the crypto markets, which were created by programmers, would be easy to trade using algorithms. Unfortunately, that’s not the case. Mudrex is making it easy for traders to build smart, signals based trading systems and launch them quickly. This feels like a natural part of the future.”
Users can enter the platform and provide information about their predefined trading rules using a drag and drop interface. The trading strategies can be backtested on historical data. Currently, Bitmex and Binance are the only two supported exchanges a the platform. In the future, there will be more exchanges added to enhance user experience.
The CEO of the platform Rohit Goyal said that there are millions of traders that trade manually due to the fact that it is difficult to build automated trading infrastructure that requires coding skills and knowledge in multiple programming languages.
Indeed, users could pay as much as $100,000 and 6 months of effort to build such a system. However, with Mudrex, it is very easy to automate trading in just a few minutes without having to spend a dollar or months setting up a new system.
The main intention behind it is to democratize access to algorithmic trading to users and create their own trading bots in an easy and straightforward way. In order to enjoy the services, Mudrex runs on a subscription-based model. There are also different subscription tiers and the entire platform is free for the next two months as well.
In the future, there will be more social-based features embedded allowing investors and traders to follow the most successful traders. Additionally, the company has the intention to open a platform for institutional and traditional investors.