With the massive rise of DeFi platforms in the last month, there has been a new focus in the blockchain industry with its emphasis on automation. For example, you can add liquidity to a lending economy, a decentralized exchange, or a market maker. Your investment automatically begins to accrue a yield by serving the economic functions of the DeFi platform.
Given these circumstances, Upbots has its finger on the pulse. The Swiss trading platform wants to bring more options to the market on turning an automated profit on crypto investments. Let’s take a look at what Upbots has to offer.
Trade across multiple exchanges
The Upbots dashboard will be connected to some of the largest exchanges through secured APIs, allowing you to always trade in the best conditions. The Upbots Whitepaper mentions that Binance, BitMEX, Bittrex, CoinbasePro, and Kraken will be supported, with more to follow. Recently, they have announced to add OKEx and ByBit as well. They intend to integrate with all major exchanges that have sufficient liquidity.
Recently, Upbots has also announced a partnership with DEX.AG, an aggregator for decentralized exchanges. This also means that through the Upbots dashboard, you will instantly access atomic token swaps on many different decentralized exchanges, such as Uniswap, Oasis, Kyber, and many more. These swaps are implemented through the X Blaster feature on DEX.AG, automatically swaps the best possible conversion rate, splitting the trade up to different exchanges to avoid price slippage, if necessary.
Additionally, Upbots provides you with charting tools that work across all exchanges. This is a massive improvement for all decentralized exchanges in particular, as they often have only rudimentary charts or show an order book with no charts at all. Finally, Upbots hosts a learning platform that traders can use to improve their skills.
Automate your trades
The real pain point Upbots wants to tackle is the high entry barrier for new traders. Without extensive knowledge of fundamental and technical analysis, trading is more a gambling game than a winning proposition. While sophisticated trades can be highly profitable, amateurs have to invest hours and hours on theoretical learning, until they become winning traders.
As an alternative, Upbots hosts trading bots with a profitable track record that their customers can use to automatize their trades. Furthermore, they can automatically copy all trades from veteran traders on the platform. In turn, traders who supply the platform with trading signals, copy trading opportunities, or trading bots receive a commission. This enables amateur traders to profit from veterans while giving the experienced traders an incentive to share their knowledge.
UBXT powers the Upbots ecosystem
At the center of the trading marketplace on the Upbots platform is the ERC-20 Token UBXT. This utility token is used for all payments on the platform, such as membership fees, subscription fees to online courses on the learning platform, or trading signals. Besides being used for payments, users may also stake UBXT for a predefined amount of time, which grants them a set of benefits, such as free online courses or a free subscription.
One of the most exciting features of UBXT is that the token is also used as a reward system for platform users who participate in the “ask the market” prediction game. This allows Upbots to gather a market sentiment on selected markets, backed by the players’ economic interest to earn tokens by making good predictions.
After reaching the hard cap on two prior private token sale rounds, UBXT will become available through a public token sale with the date to be announced soon.
Meet the family
Upbots is being developed by the Brussels-based company Solfin Consulting. Both Solfin and Upbots are led by Benjamin Duval, who has over ten years of business management experience. His co-founders are Julien Quertain and Angélique Massolo.
Other members of the Solfin family are 4c-Trading and BrainFeed. 4c-Trading is a trading bot that came into existence through the joint efforts of two of the most respected trading signal providers. The company will be one of the first trading bots and signal providers available on the Upbots marketplace.
BrainFeed is an online learning platform covering topics on cryptocurrencies, blockchain technology, and trading. This will serve as the basis for the online trading courses on the Upbots platform.
Connecting Upbots to the DeFi ecosystem
Recently, Upbots has announced a partnership with DEX.AG, an aggregator for decentralized exchanges. DEX.AG connects 11 different decentralized exchanges, allowing traders to pick the exchange with the best trading conditions. This is made possible by the X Blaster feature on DEX.AG, through which traders can split up trades to multiple exchanges.
With this partnership, Upbots makes the first venture in the DeFi space, which will ultimately be incorporated in the user dashboard. Thanks to this, their users will be able to swap tokens on decentralized exchanges and provide liquidity to various DeFi protocols, which will be added as partners shortly.
Benjamin Duval commented on the partnership:
With Upbots, users can trade across various centralized and decentralized exchanges. With online courses, they will be able to improve their skills while outsourcing their trades to bots and more experienced traders, until they are confident enough to make their profitable trades.
Furthermore, Upbots will soon venture into the DeFi industry, allowing users to fund various DeFi protocols from a single dashboard.
How Does the Future Look for Cryptocurrencies in the Financial Market?
The trading share of cryptocurrencies in the financial markets is getting bigger by the day, as professional and occasional investors redirect their funds from traditional assets to crypto coins. Billions of dollars, euros, pounds, and of other fiat currencies are used by traders, for the opening of new crypto trading positions, increasing crypto coin values, reputation, and market share. This is also one of the reasons, why new cryptocurrencies are regularly being launched. However, the supply of investment funds is not without limit, and on many occasions, it feels like a number of these new crypto coins are doomed for failure.
Today, cryptocurrency development stretches beyond its original creational limits, as even regulated institutions are investing in the creation of digital coins. These coins are generated to achieve collective wallet digitalization and consequently to gradually eliminate the need for cash. This, of course, is not something for which traders and investors care about, as their primary concern is how these assets will perform in the financial market. That being said, if a crypto asset is trusted and respected in the real world, then this will reflect on its performance in the world of finance. The problem is that for a cryptocurrency to earn the respect of the real economy, it will need to have enough time to mature.
Crypto Trading and Investment Challenges
Trading cryptocurrencies is not an easy task. There is a lot of research required, and there is a lot of work that needs to be done before opening a trading position. Experienced traders know that it is not something as fun and as easy as taking a spin on penny roulette, but those with less experience in crypto trading can end up facing heavy losses, just because they have not invested enough time to prepare for the worst-case scenario. Even though we have not seen any signs of a new cryptocurrency bubble burst for a long time, it does not mean that the threat is not there. This applies both to new cryptocurrencies as well as to those which the market categorizes as established.
Where Do We Go from There?
With a higher demand for digital monetary alternatives, it is only natural that countries, unions of nations, and Central Banks are looking towards finally regulating the crypto market. The regulation of such assets will set new standards for commerce and revolutionize the flow of money. It will, however, limit the profit potential of crypto coins, as it will no longer be possible for a cryptocurrency – whether it is new or old – to go from being worth peanuts to being worth as much as gold in a matter of hours.
👉Not being able to become rich overnight is bad news for those who dream of becoming wealthy through cryptocurrency trading, but it also comes with benefits. A regulated cryptocurrency market will discourage “dodgy trader” activity and reduce the risk of seeing toxicity forming in the crypto market. This will allow for the growth of crypto assets in a positively-charged environment, which will give them the time and stability they need to get to the same level of trust as that of traditional trading assets.
How Blockchain Can Help Your Business Grow
Ever since the introduction of Bitcoin in 2009, the world has changed the way it views fiat currencies and digital security. People were excited that they could finally transfer digital currency anywhere in the world without exaggerated banking fees or long hours.
The technology, however, proved so versatile that it has found its way into other uses as well. In 2020, there are so many businesses that use blockchain that we simply don’t have the time to enumerate them all in a single short article. But we will do our best to give you examples of ways the blockchain could potentially help you.
Hackers rarely sleep. That’s one statement that Sony forgot back in 2011. While it is unclear whether they now use the blockchain or not, many other companies have started implementing it with great results.
The encryption technology that the blockchain employs requires transactions and other processes to go through multiple nodes connected to the blockchain to get approval. This way, if a hacker attempts to do something malicious, the multiple nodes will eventually realize that fraud’s at stake and stop the transaction in its tracks.
More Payment Methods
People often think that the blockchain is meant solely for cryptocurrencies. That’s not true, at least not anymore. Banks all over the world have started implementing this tech to ease transaction times and lower processing fees.
Moreover, businesses that implement blockchain can use this technology to offer their customers multiple payment methods with seemingly endless currency options. One non-banking company that has proved the efficiency of this method is BetConstruct, offering more than 400 payment methods.
Through the blockchain, you can set up a reliable network of chatbots that can help out your customers.
With the help of the blockchain, these AI bots can easily communicate with one another and learn from each other based on what users respond, how they rate their satisfaction with the chat, and how customer support agents respond to users once the chatbot sends them their way.
Hire Better Employees
Small companies often don’t have the time or necessary resources to double-check the information in a CV. But with the help of the blockchain, you won’t need any of that.
Even today, there are still a lot of people seeking a job who ungracefully lie in their resumes. The blockchain can process all the data in a resume and send you the verified information to see if it’s legitimate.
Not only does this save you time, but it also means you’ll have hired the right person for your future projects. And we all know what having the right person can mean if you want your company to be successful.
Improve Your Marketing Campaigns
You’re probably aware of the usual marketing techniques like social media, video ads, billboards, SEO, SEM, and more. Look, you won’t need the blockchain to implement those tactics.
However, Blockchain can be used by marketers to keep track of client information and consumer behavior. With this data, skilled marketers can craft clever campaigns that bring greater ROI. You can also use the blockchain to track any changes made to your campaigns. If only David Ogilvy has had this tech at his disposal, who knows what he would’ve been able to craft.
👉🔥The Bottom Line
The blockchain has revolutionized businesses all around the globe the same way it has revolutionized the way people view money.
Implementing this technology for your business will net you tons of long-term benefits for an otherwise small investment considering all the things you’ll be getting.
Charted: Ripple (XRP) Technicals Suggest a Crucial Breakdown Below $0.24
Ripple started a steady decline and traded below the $0.2500 support against the US Dollar. XRP price is showing bearish signs and it might slide further below $0.2375. Ripple failed to stay above the $0.2500 support and extended its decline against the US dollar. The price is now trading below the $0.2450 support and the […]
Ripple started a steady decline and traded below the $0.2500 support against the US Dollar. XRP price is showing bearish signs and it might slide further below $0.2375.
- Ripple failed to stay above the $0.2500 support and extended its decline against the US dollar.
- The price is now trading below the $0.2450 support and the 100 hourly simple moving average.
- There was a break below a key contracting triangle with support at $0.2415 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is likely to continue lower towards the $0.2350 support or even $0.2320.
Ripple Price Turns Red
This past week, we saw a sharp rejection in ripple near the $0.2600 area. XRP price topped near the $0.2595-$0.2600 resistance zone and started a fresh decline. It broke many important supports near $0.2500 to move into a bearish zone.
The decline was such that the price settled below the $0.2450 level and the 100 hourly simple moving average. It spiked below the $0.2400 support and traded as low as $0.2379. Recently, there was a short-term upside correction above the $0.2420 level.
Ripple recovered above the 23.6% Fib retracement level of the main decline from the $0.2503 high to $0.2379 low. However, the bulls failed to clear the $0.2450 resistance and the 100 hourly simple moving average.
Source: XRPUSD on TradingView.com
It was also rejected near the 50% Fib retracement level of the main decline from the $0.2503 high to $0.2379 low. As a result, there was a fresh decline below the $0.2420 level. There was also a break below a key contracting triangle with support at $0.2415 on the hourly chart of the XRP/USD pair.
The pair is now showing bearish signs and approaching the $0.2400 level. The next support is near the $0.2380 and $0.2375 levels. A clear break below the recent low could lead the price towards $0.2350 or even $0.2320 in the near term.
Chances of an Upside Break in XRP?
An initial resistance for ripple is near the $0.2420 level. The first key resistance is near the $0.2425 level and the 100 hourly simple moving average.
A successful break above the 100 hourly SMA and then a follow up move above the $0.2450 resistance might open the doors for a fresh increase in the near term. The next major resistance is near the $0.2500 level.
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level.
Major Support Levels – $0.2400, $0.2380 and $0.2350.
Major Resistance Levels – $0.2420, $0.2450 and $0.2500.
nexAir acquires Atlanta-based medical gas supplier
Sight Machine Puts the True Smart Factory in Reach With Automated Optimization of Manufacturing
QMC Responds to Announcement of Canadian Electric Vehicle Production
United States $10.63 Million Cast LDPE (Low density Polyethylene) Disposable Gloves Market to 2025: Outbreak of COVID-19 to have a Positive Impact on the Market
7 Amazing Things to Know About Cannabis for an Amazing Love Life
HTC Vive’s XR Suite for Remote Collaboration Goes Live
Intelligent Power Module Market revenue to cross USD 2.5 Bn by 2026: Global Market Insights, Inc.
FP Markets amplía su oferta de valores CFD en productos, metales e indices
Xinhua Silk Road: Green transformation vital for coal coking dev. and B&R energy cooperation
Laureat Nagrody Nobla w dziedzinie chemii oraz międzynarodowi eksperci wezmą udział w organizowanym przez CBMM wydarzeniu poświęconym produktom akumulatorowym
El evento de baterías organizado por CBMM reúne al premio Nobel en Química y a expertos internacionales
VTEX and Loop Integration Fuel Project N95’s Mission to Protect…
BrandSpark Study Reveals the Most Trusted Service, E-Commerce,…
Manifattura Valcismon Reaches Peak Performance with Centric PLM™
Plotch Ecommerce ERP Announces Successful Onboarding of…
Productsup Launches ‘Productsup Academy’ to Offer Online Training and…
Air Travel High: TSA Screens 1 Million For First Time Since March
CleanEquity® Monaco 2020 – Apresentando Empresas e Novas Colaborações
Steel Dynamics Reports Third Quarter 2020 Results
New Placer Dome Gold Corp to Webcast Live at VirtualInvestorConferences.com October 20th
EnLink Midstream Declares Third Quarter 2020 Distribution
U.S. Borders With Canada And Mexico Will Stay Closed Another Month
Algonquin Completes ESSAL Acquisition
Global Force Sensors Markets to 2025: Improvement of Medical Devices with Force Sensor Technology will Drive the Market
Black Mamba Rod Lift and Oil Baron Supply Join Forces, Increasing Run-Times, Preventing Tubing Wear and Cavitation in Progressive Cavity Wells.
Waterproofing Systems Market by Type, Application, and Region – Global Forecast to 2025
$824 Million Worldwide Mobile Substation Industry to 2027 – Impact of COVID-19 on the Market
Georgia Power launches new careers website for students as part of Careers in Energy Week
GM Unveils Factory ZERO
UNICEF To Stockpile Over Half A Billion Syringes For Future COVID-19 Vaccine
Volvo Trucks Receives Grants to Deploy VNR Electric Trucks in Southern California
South Korea Eases Coronavirus Restrictions, Touts ‘Exceptional’ Success
Rnwl: The First Over-the-Top Insurance Platform
Freeport-McMoRan’s Steve Higgins Elected as Chairman of the Board of the International Copper Association
Nufarm and CROP.ZONE Announce Cooperation to Bring Alternative Weed Control to Major European Markets
Global Belt and Chain Drives Market, 2020-2024: Growth Opportunities in Collaboration & Use of Newer Materials Enabling Broader Capabilities
New Report Shows Critical Impact of Oil and Gas Industry in Los Angeles County
Best Apps to Check Internet Speed
Python joins Heretics
Ultra Safe Nuclear Technologies Delivers Advanced Nuclear Thermal Propulsion Design To NASA
Esports1 week ago
When does Overwatch’s Halloween 2020 event start?
Esports1 week ago
What does PogChamp mean?
Blockchain1 week ago
10 Million Euros Lost to Crypto Frauds in Belgium in One Year
Techcrunch3 days ago
Original Content podcast: It’s hard to resist the silliness of ‘Emily in Paris’
Gaming1 week ago
‘Call of Duty: Mobile’ Season 11 Anniversary Update Is Out Now with a New Battle Pass Coming Soon, New Maps, XP Card Changes, and a Lot More
AI1 week ago
Key Challenges and Benefits of AI Chatbots: A Balanced Perspective
1 week ago
Filecoin Fervor Gaining Momentum in China as Mainnet Nears Launch
Esports1 week ago
Overwatch’s 2020 Halloween Terror event kicks off Oct. 13