“What about this trading pair?” is a brand new kind of introductory articles created by RevenueBot. You will hear each week about a new pair that has appeared in our top list, judging by the number of deals made on the platform. Apart from the details about the token, let’s check the trading pair through the bot simulation and observe how much the trader could earn using it over the past 60 days.
General insights
Universal Market Access (UMA) is an open-source protocol that enables you to create synthetic assets, as well as to develop and implement your own financial contracts. Despite being publicly available and sharing similarities with traditional cryptocurrency derivatives, still, these contracts do differ – they are self-sustaining thanks to built-in incentives system.
UMA allows you to come up with and digitize different financial contracts, including the most exotic ones such as futures and contracts for difference (CFDs). The protocol also empowers the creation of self-executing derivatives based on digital assets. As its very name reveals, the main goal of UMA is to create universal market access and lower the entry barrier to financial markets, as well as to decentralize the derivatives market. The issuance of $UMA is done through the creation of a protocol for synthetic assets and financial contracts on the blockchain.
Breakdown
We create a new bot with a deposit of $500 as an example. The bot settings are default – Normal trading mode (you can select any when creating your own bot). This includes a 25% overlap of price changes, 20 as the volume of the order, and 5% martingale trade size.
Provided that the bot traded in UMA/USDT pair between March 21 and May 21, 2024 while using the LONG algorithm, the outcome is as follows:
You could have generated nearly 0.00066311 BTC in profits over the past 2 months, which is about $48 as of this writing.
Key takeaways
To some, such an income may seem quite small, and you’re not exactly wrong. The crypto market now is so volatile that sometimes it can multiply your income enormously, but this is the exception rather than the rule. You are more likely to lose all the invested money than to obtain large profits within a short period of time.
However, with RevenueBot, trading is fully automated, with no need for you to keep track of the process. Needless to say, if you set Aggressive trading mode for your bot, it will require more monitoring. That said, we’ve provided an example with default settings that pose minimal risk to your funds. Such set-up is quite middle-of-the-road: the profit is not too high, but the risks strive to zero as well.
For regular traders, RevenueBot offers an automated trading UI. You are free to trade on the leading crypto exchanges, including: Binance, Bittrex, FTX, OKX, among others. RevenueBot empowers you to create customized trading bots to generate passive income steadily. Here are some of the perks:
- Service fee is charged only after the first successful transaction (no pre-charge included)
- RevenueBot’s native marketplace allows you to both buy a ready-made bot or sell your own one, which has proven to be effective;
- RevenueBot’s referral program enables you to reap profit without doing it manually;
- RevenueBot uses a Dollar Cost Averaging (DCA) strategy. By using it, you can make successful transactions as well as make profits over the long run;
- Automatic switching of trading pair makes it possible to benefit from trading process at any time. Our bots can do it by themselves if the main trading pair is not available.
RevenueBot has an official Telegram group for users to chat as well as its own channel to follow both platform’s news and the crypto industry updates. If you are a newcomer, RevenueBot shares a promo with you: once you sign up using this link, you get 5% on your first deposit. Good luck in trading, the extra money will come in handy!