Cryptocurrency trading has now become a full-time job for many, as new investors join the crypto train by the minute. Crypto trading is helping many investors generate a passive income. But a market that is active 24×7 and highly volatile, constantly monitoring the prices and executing trades manually in a bid to create consistent returns is nearly impossible.
Users are now employing automated trading algorithms or bots, which make trading extremely easy. These bots can trade round the clock, helping the user generate consistent returns. Many online trading platforms offer these bots and many other features to make trading easier and profitable. On these platforms, users can either create their own trading strategies or copy other expert traders. This process is known as copy/mirror/social trading.
This article will discuss three such copy trading platforms, their features in detail, and help you choose the best platform for your automated crypto trading.
Here’s the Cryptotrader vs Mudrex vs Bitsgap comparison
Cryptotrader is a cloud-based crypto trading platform that helps traders automate their trades and invest in premade automated algorithms. While the platform is currently going through an overhaul, it still is active with multiple strategies available. Users can easily backtest their trades and create their own strategy or rent out the strategies developed by other users.
Mudrex is a cloud-based automated crypto algorithm marketplace, which aims to bring crypto investment to everyone. At Mudrex, you can invest in pre-built algorithms or bots created by expert traders at Mudrex Invest or build your own at Mudrex Build. These bots are 100% automated and are spread across multiple cryptocurrencies and exchanges. At Mudrex Build, you can create strategies without writing a single line of code with their drag and drop visual editor.
Bitsgap is a cloud-based crypto trading platform where users can either automate their trades or invest through trading bots available. The platform offers a variety of signals to users and also helps them create their own bots. The platform makes it easy for users to generate consistent returns through automated trading.
Cryptotrader vs Mudrex vs Bitsgap — A Review
In this Cryptotrader vs Mudrex vs Bitsgap review, we will score each platform from 0-10 on critical features that an investor looks for in a trading platform. These include but are not limited to platform reliability, pricing, ease of investment and many more. The final scores are given below, and the detailed review follows.
|Trading Strategies and Profitability||6/10||9/10||7/10|
|Ease Of Investment||7/10||9/10||8/10|
|Community & Support||5/10||9/10||9/10|
#1 Platform Reliability
The first question we answer for an investor is ‘How Reliable Is This Trading Platform?’
The Cryptotrader platform has been around for some while and was launched in 2013. It has been open to customers since 2016 and has gained quite some reputation. However, it was seriously impacted when a platform of the same name scammed users of their cryptocurrency. The platform has since then bounced back and is growing strong. The platform is based out of Singapore and claims to have run over 5 million backtests and 10,000+ strategies created. To help users invest securely, it uses API integration which doesn’t require any withdrawal permissions.
Launched in 2019, Mudrex is backed by Y-Combinator and based in San Francisco. Mudrex has gained a considerable investor base in a short period and has over 20,000 investors and a total trade value slightly short of $1Billion. Mudrex has employed extensive security features to help users invest securely, such as 2FA, no withdrawal permissions for APIs, and lightning-fast customer support.
Bitsgap was founded in 2017, and since then, it has gained quite a lot of ground in the crypto market. It is based out of Estonia and built with a team of traders, security experts and marketers. The platform employs security features such as 2FA, encryption, and no-withdrawal permission required API integration to help users invest freely.
Keeping security and transparency in mind, we rank Mudrex the highest in platform reliability.
#2 Trading Bots/Strategies and Profitability
The next question that we answer is ‘Which Platform Helps Me Select The Best Bot And Make The Right Choice?’
Cryptotrader Trading Bots
Users at Cryptotrader can rent out the bots created by other users or build their own. Users can filter out the strategies by the exchange it trades in, free/paid and rent price up to. While the platform is quite old, there aren’t many strategies available on it.
Investors can easily view the top performing bots, and some of them are listed below:
Trading At Mudrex
Users can view all the crucial details about the premade bots right there on the dashboard. These details include the cryptocurrency the bot trades in, total lifetime returns, number of investors in each strategy, a performance score (0-10) by Mudrex rating each strategy after a risk vs reward analysis, total run time of the strategy, the monthly fee and the last 30 day returns.
Investors can easily view the top performing bots, and some of them are listed below with their returns in the past 30 days:
Trading At Bitsgap
Bitsgap provides its users with a variety of trading bots to choose from. Users can either invest through these bots or set their trades manually, using multiple trading signals. The platform also allows arbitrage trading across exchanges. While setting up a bot, you can choose the strategy, exchange, pair, investment, stop-loss and take profit.
Investors can easily view the available strategies and bots:
- Classic Bot
- Arbitrage Trading
Mudrex takes the top spot here as it helps users select the right bot with a comprehensive structure.
Trading Bots/Strategies and Profitability
#3 Pricing / Platform Usage Fees
Here, we answer the question ‘How Much Is The Platform Usage Fee, And What Is The Minimum Amount I Need To Start With?’
Cryptotader offers five different subscription plans, depending upon the trade volume a trader needs. These are Basic ($8/month), Regular ($22.5/month), Pro ($42/month), VIP ($80/month) and Premium ($200/month) if billed annually. These plans offer various features such as backtesting, email alerts, SMS Alerts, live trading bots and early access. While there is no free plan for the platform, new users can enjoy a 7-day free trial period of the basic plan. Moreover, the platform hosts certain user-created bots, which other users can rent out to. While most of the bots are free, some are premium, with costs reaching up to $350/month.
Unlike other major automated trading platforms, Mudrex doesn’t charge a fee to use the platform. At Mudrex Invest, users only need to pay a small fee when investing. This fee varies according to the bot and can be as low as $5. Users can start investing for as low as $150, excluding the bot fee. Another impressive feature of the platform is Mudrex Protect, through which users get a full fee refund if the strategy does not yield a profit in a month.
However, if you want to build, backtest and execute your own strategies, you can use the Mudrex Build platform. It has both free and paid versions, with the free version offering a few features to help you begin. With the paid version at $16/month, users get unlimited backtests, multiple technical indicators, priority 24×7 support and the ability to publish their strategies on Mudrex for other users to trade with.
Bitsgap has three subscription plans for the users. These are Basic ($19/month) with features such as unlimited exchanges, a $25,000 monthly trade limit, two active trading bots, and trading signals. The next plan is Advanced ($44/month) with all the basic plan features, along with Arbitrage trading, five active trading bots and a $100,000 monthly trading limit. The final subscription plan is Pro ($111/month) with all the basic and advanced plan features, along with no monthly trading limit, 15 active trading bots, take profit for bots and priority support. The platform offers a 14-day free trial for all plans for users to test out the platform.
High fees always push investors away, especially beginners. Therefore, Mudrex ranks at the top in platform pricing.
Pricing / Platform Usage Fees
#4 Ease of Investment
The next question we answer is ‘How Easy It Is To Start Using The Platform?’
How To Invest On Cryptotrader
The Cryptotrader platform is undergoing a complete overhaul, so you can expect significant UI and platform changes in the coming months. As of now, the UI is not so user-friendly, and it requires some doing to find the best trading strategy for you. If you are building your own strategy, the coding editor can be a bit confusing as well. There is no mobile version of the platform, and only the desktop version works.
Here’s how one can start with Cryptotrader:
- Create/Login to your Cryptotrader account;
- Pay the subscription fee;
- Connect an exchange with an API key;
- Either rent a strategy or create your own;
- Run a backtest and then build your own strategy;
- Start your strategy, and you are good to go.
How To Start Investing On Mudrex
Mudrex is built to bring crypto investments to everyone, and it does just that with an extremely friendly UI and an easy-to-use platform. The dashboard provides all vital details for the users, and one can begin investing in just a few clicks.
Here’s how you can start investing on Mudrex:
- Create/ Login to your Mudrex account;
- Connect the desired exchange with an API key(s);
- Choose the bot you want to invest in and select the amount;
- Pay the platform fee, and you are all done.
How To Start Investing On Bitsgap
At Bitsgap, users need to connect an API exchange to use the platform. The UI is extremely user-friendly and helpful for all kinds of users. However, when building a bot of your own, new users might be confused due to many details being available.
Here’s how you can start investing on Bitsgap:
- Create/ Login to your Bitsgap account;
- Pay the subscription fee for the platform;
- Connect the desired exchange with an API key(s);
- Select the bot you want to invest through, and select the trade values;
- Start the bot, and you are good to go.
The Mudrex Invest platform is extremely easy to start using for investors, who can begin with just an API integration, so it receives the top rank.
Ease of Investment
#5 Post-Investment Tracking
The next question we answer is ‘How Easily Can I Track My Investments?’
Portfolio Tracking At Cryptotrader
The Cryptotrader live trading dashboard showcases the strategies you are running (both rented and created), the name of the strategy, the market (exchange) it is running on, status, and its actions.
Portfolio Tracking At Mudrex
The Mudrex Invest dashboard offers vital details, including the bots you have invested in, the total amount invested, the current value of the investment, the full returns in % of each bot, and the overall returns.
Portfolio Tracking At Bitsgap
At Bitsgap, users can view their portfolio on the portfolio tab. The user can view details such as the total value of their portfolio, the 24-hour change, the 7-day change, the 30-day change and the total change. Moreover, users can also see the coins they have invested in, the total amount, currency price, % of the portfolio it constitutes and the 24-hour and total change in the coin.
Bitsgap offers a detailed overview of the investments to the users, so it ranks at the top in post-investment tracking.
#6 Exchanges Supported
The next question we answer is ‘How many exchanges does the platform support?’
Exchanges Supported By Cryptotrader
Cryptotrader supports nine exchanges, such as Binance, Huobi, Kraken, Coinbase and Bittrex.
Exchanges Supported By Mudrex
At Mudrex, users can invest through Coinbase Pro, Binance, Bybit, Deribit, OKEx and BitMex.
Exchanges Supported By Bitsgap
Bitsgap supports over 25 exchanges, including Binance, OKEx, Kraken, FTX, Coinbase and KuCoin.
Bitsgap supports the most number of exchanges among the three platforms. Therefore, it receives the top rank here.
#7 Community & Support
To help the traders, the next question we answer is ‘How easily can the platform solve my problems, and how do I reach them?’
At Cryptotrader, users can access the FAQ page, which has answers to very elementary questions about the working of the platform. However, users can also view the API documentation that allows developers to write fully featured trading algorithms. There is no email support, and you have to create a support ticket to get a response. The platform has no presence on social media channels as well.
Here’s how you can reach them:
- Website: Cryptotrader.org/home
Users at Mudrex have access to a FAQ section that contains answers to almost all major account-related problems. The platform also offers lightning-fast email support. Users may also visit the blog section of Mudrex, which features details about the platform and trading tips and strategies. The platform has active communities on Discord and Telegram, with a minimal presence on social media.
Here’s how you can reach Mudrex :
- Email: email@example.com
- Discord: discord.com/invite/qdXmm4N
- Twitter: twitter.com/officialmudrex
Bitsgap has a detailed knowledge base on the website with advice and answers from the Bitsgap team on almost all major account-related issues. The platform also has fast email support and active communities on Telegram and some social media channels.
Here’s how you can reach Bitsgap:
- Email: firstname.lastname@example.org
- Telegram: t.me/bitsgap
- Twitter: twitter.com/Bitsgap
Traders at Mudrex and Bitsgap have access to fast support and helpful knowledge collaterals. Therefore, they both receive the top rank in the community & support.
Community & Support
#8 Referral Bonuses
Here we answer the question ‘How Can I Earn More With My Network?’
Affiliates at Cryptotrader get 10% of every subscription purchase and for any further recurring subscription payments. The payment is made via Bitcoin, and payments are made weekly. However, the minimum threshold for withdrawal is $50.
For each valid referred user, both the referrer and the referred user receive $25. Moreover, the referrer will receive 50% of each referred user’s spend without any limits. The platform also occasionally adds referral bonuses, such as additional bonus or a chance to win impressive prizes.
Every time your referred user joins the platform and makes a subscription purchase, you receive a 30% commission. Moreover, the platform also runs affiliate competitions with varying prize pools, and the highest referrer can earn additional bonuses.
In any referral program, users often look for ease of earning and no earning limits. Therefore, we rank Mudrex at the top spot in referral bonuses.
Cryptotrader vs Mudrex vs Bitsgap — The Final Verdict
With this Cryptotrader vs Mudrex vs Bitsgap review, it is clear that each platform brings forward a pool of advantages and disadvantages, which makes them unique. All three platforms have gained solid ground in the past few months and are well appreciated by the crypto community. We hope this review helps you make better investment decisions by choosing the right platform for your crypto investments.
While no one trading bot is perfect for all traders, through this exhaustive review, it is clear that Mudrex is the most reliable, secure and hassle-free automated crypto trading platform. With stellar features such as Mudrex Protect, Performance Score, No Platform Usage Fee and No-Code Strategy Builder, Mudrex is the ideal platform for traders of all shapes and sizes. It is safe to say, Mudrex is the high-performing automated trading platform you are looking for.
Let your trades work on autopilot. Get consistent returns with Mudrex.