In the early days of cryptocurrency investing, Mudrex began with one-on-one chats with individuals. It was this research that helped the team identify pain points for Discord users. They went on to create a more intuitive platform for retail crypto investors. Their initial success led them to be selected by Y Combinator’s accelerator program. The team is now targeting the global market. The company’s current goal is to have 500 customers by March 2020.
The company has received $6.5 million in a series B financing round led by Y Combinator and Better Capital. Other investors in the round included angel investors and the founders of Mudrex. Mudrex has a team of four who studied at IIT Kanpur and Bombay. The startup is headquartered in Silicon Valley and plans to expand its global base to serve institutional investors.
In addition to providing a secure and convenient online investment platform, Mudrex is also developing a suite of automated products to make investing easier for average people. Mudrex Coin Sets, for example, allow users to invest in a basket of cryptocurrencies, similar to mutual funds. And if that wasn’t enough, Mudrex has now launched its first retail offering, Mudrex Coin Sets.
Mudrex has been in the crypto market for over three and a half years, and the team understands the importance of security. To ensure security, Mudrex works with global exchanges with proven track records. The Mudrex platform uses AWS++. Mudrex has incorporated multiple security measures, such as whitelisting IP addresses and 2FA setup. This makes it easier for users to stay safe when investing in the crypto world.
The Indian startup, Mudrex, is developing a trading application and aims to be a one-stop-shop for cryptocurrency investors. The company is developing a user community for novice and advanced portfolio managers alike, which will make it easier for its users to trade. Mudrex is backed by Y Combinator and Nexus Venture Partners. With a global base for investors, the startup aims to become the largest asset management platform for crypto investment.
Mudrex’s algorithmic trading bot Stoic, which enables transparency, has been successful in making a 30% take rate. It has a 30 percent take rate, and the creators keep 70% of their fees. Mudrex enables investors to trade the top cryptos without requiring technical expertise. Mudrex has over 250,000 users worldwide and has a 30% month-over-month growth.
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The founders of the Indian crypto exchange BuyUcoin have made the process easy for novices by making it free and convenient. They have also introduced an FD plan for their investors. And investors should choose crypto assets that have less volatility. For example, if a crypto investor is new to the market, it may be worth considering a stablecoin. The founders also recommend investing with a stablecoin, if possible.