Mizar review: impact on automated trading
Thanks to cryptocurrencies, smart contracts and smart trading, traders can gain access to a multi-billion dollar industry and even profit from trading cryptocurrencies.
This review aims to provide a comprehensive understanding of the Mizar trading platform, highlighting its capabilities in facilitating trade execution and position management across multiple connected exchanges from a centralized interface. It will also explore additional features such as DCA bots, copy trading, and smart trading available on the platform.
What Is Mizar?
Mizar is a platform that simplifies crypto trading and makes it accessible to all individuals. By providing a centralized space, it enables users to manage and automate their orders across multiple exchanges or copy successful trades from expert traders.
Established in late 2021, Mizar is a European-based software start-up that swiftly made its mark in 2022, by securing funding worth $3 million. Notable players in the industry such as Nexo, KuCoin Ventures, Huobi Ventures, WOO Ventures, and MEXC, participated in the fundraising round
Mizar has an efficient design, catering to new and experienced traders. In addition to automating trades, Mizar optimizes and manages them to maximize potential profits.
Additionally, Mizar offers several security features focused on safeguarding user data and assets, these include non-custodial storage, IP whitelisting, API keys encryption, WAF, DDoS attack shields, two-factor (2FA) authentication, and SSL/TLS encryption on chats, and trading requests.
Traders often face challenges such as emotional trading or insufficient research, which can lead to financial losses.
To address this, Mizar has a bot trading feature that provides users with a selection of trading and investing strategies to potentially enhance their gains.
These bots offer different trigger orders, such as stop loss, multiple entry points, and take profits, enabling users to automate their trading activities continuously.
Additionally, Mizar operates on a subscription-free model, ensuring users are not obligated to pay fixed monthly fees.
Features
Mizar provides its users with a range of interesting trading tools:
DCA bots
One such tool is Mizar’s Dollar Cost Averaging (DCA) bot. Dollar-cost averaging is an investment strategy that involves regularly investing a fixed amount of money into an investment, or token, at consistent intervals, such as monthly or every two weeks. Rather than putting up all available funds at once, this strategy spreads out the purchases.
With Mizar, traders have the opportunity to utilize DCA bots without needing coding knowledge. These bots are designed to alleviate the pressure of timing the market perfectly. Mizar also has a DCA bot SDK feature that allows users to develop their own custom DCA bots. This SDK provides tools, and guidelines to facilitate the creation of personalized bots tailored to individual trading strategies.
Mizar’s DCA bot functions by automatically buying or selling orders for a specific cryptocurrency at predetermined intervals. The objective is to improve the average entry price of trade over time, thereby potentially increasing returns. Mizar simplifies the process by providing its users with easy access to the power of automated buying and selling with just a few simple clicks.
Copy trading
Mizar’s copy trading feature allows traders to share and copy effective tactics and strategies. Copy trading itself is an investment technique where users replicate the trades of professional traders.
The platform uses multiple Key Performance Indicators (KPI) like trade performance, trader reputation, fees, and others to provide a live comparison between professional traders. Their copy trading feature enables users, who might be new, to benefit from the experience of other traders. With a few simple clicks, users can replicate the trades of successful traders.
By copying trades, even novice users can gain valuable trading experience while potentially earning a passive income. Professional traders also get rewards after successful trades, which leads to a beneficial relationship for all.
Smart trading
Mizar’s smart trading feature offers traders a convenient way to interact with the crypto market. As such, users can manually open orders on various exchanges or trading pairs, leveraging Mizar’s smart trading functionality.
The user-friendly interface of Mizar makes it simple for traders to set up and execute smart trades. Utilizing TradingView’s charting platform, the smart trading feature provides real-time price updates and access to a range of indicators, allowing traders to perform technical analysis directly within the platform.
Users can access the platform’s advanced trading functionalities such as multiple entries, take profits, stop losses, trailing, and more. The automated trade invalidation feature cancels all open orders when take profit or stop loss conditions are met, automatically securing user funds.
Mizar’s smart trading engine is capable of automatically opening orders, enabling traders to enter and exit at the ideal time, with minimum latency and supervision.
Paper trading
Mizar’s paper trading feature is designed to offer a risk-free environment for experimentation, learning, and developing one’s trading skills. The feature allows users to simulate trades using pseudo-money. Traders can practice buying, selling, and creating profitable strategies without having to risk their funds.
By offering a free analogue experience, Mizar’s paper trading feature serves as an excellent entry point for understanding and testing trading knowledge, providing users with a valuable opportunity to educate themselves and gain confidence in a relaxed setting.
Fees and bonus
Unlike its competitors, Mizar runs a pay-per-use system, meaning it doesn’t offer monthly or yearly subscriptions, instead the fees are based on each user’s trading volume. The volume fees can range from 0.075% to 0.0035% which drastically reduces the cost for Mizar traders.
Copy-trading on Mizar is also subscription-free, and users have to reward the traders they copy by sharing a portion of their monthly realized profits.
Upon signup, every user is entitled to a $5 free credit and a free trading volume for the first $10k worth of trades. Users can also refer others which earns them up to 45% commission on their trading fees.
Mizar (MZR) token
At the heart of Mizar’s ecosystem is the MZR token. The MZR token is the native utility token that is used to incentive engagement and reward positive behaviors.
It is built on the Arbitrum layer-2 platform.
MZR is the platform’s primary tool for reducing trading fees and maximizing profit. It allows holders and stakers of MZR to enjoy volume fee discounts of up to 95%, depending on the amount of MZR tokens staked. This also reflects on the performance fees for copy trading, where traders can get a discount of around 50%.
New users can get access to Mizar’s academy, which allows them to learn and earn, upgrading their skills as traders, while benefiting tokens in the process. To gain access, users have to purchase and stake MZR.
The MZR token also gives experienced users access to the platform’s advanced trading tools and governance privileges to boost their trading performance. This would give them an edge over fellow competitors in the space.
As an incentive, the MZR token rewards holders with referral commissions of up to 45%, and early access to airdrops.
Mizar’s roadmap
Mizar’s road ahead is divided into two phases, the Supersonic phase and the Hypersonic phase.
The Supersonic phase (C-phase) is characterized by the development of Mizar’s trading tools and services to be used to manage trades on centralized exchanges, such as Binance and Kucoin.
After the completion of the C-phase, the Hypersonic (D-phase) would be focused on importing all the tools used on centralized exchanges to decentralized exchanges, making it available for DEX users. This would include self-custodial trading and a decentralized community for sharing strategies. The Hypersonic phase is set to begin in the second quarter of 2023.
Conclusion
Mizar offers a wide range of features for both new and experienced traders to execute trades while managing their positions across multiple exchanges from a single platform.
For new users, the paper trading and copy trading features provide a risk-free environment for users to simulate trades, experiment, learn, and develop profitable strategies without risking valuable funds. Users can also take advantage of the Mizar Academy and referral features.
For advanced users, the DCA bots feature and smart trading functionality, allows traders to manually open orders on different exchanges or pairs, using features like multi-entry zones, trailing, and stop loss order, while allowing them to automate their buying and selling activities without the need for coding knowledge. The paper trading feature also provides a risk-free environment to test advanced strategies and techniques.
The MZR token offers fee discounts, governance privileges, and referral commissions, incentivizing user interactions. Holders can also enjoy early access to advanced trading tools, and airdrops.
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