Mizar — A Subscription Free Alternative to 3Commas PLUS, Monetise your own Strategy??
There’s been a lot of news recently about API leaks within 3Commas which has left people concerned about the safety and security of using the platform. In addition to this, most bot trading platforms cost a substantial amount of money in subscription fees up front to start using them and if you aren’t subscribed to the highest tier, you get limited functionality.
Mizar are doing things differently…..
You don’t pay a monthly or annual subscription fee. You can sign up and start using the platform for FREE. Instead, Mizar base their cost model on the volume that you trade. Now, I want to make this totally transparent, this won’t work out for some people particularly if you trade huge volumes with low take profits.
In essence, the first $10,000 of trading volume per month is completely FREE every month. If you sign up to Mizar, you also get a free 5 BUSD bonus to use on fees AFTER you have used the free $10,000 of monthly trading volume.
We’ll break down the pricing model in more detail later in this article as there are some additional opportunities to reduce these fees further.
It’s also worth noting that Mizar is backed by some big names. Binance Labs, Kucoin, Nexo, MEXC and more. Combined, Mizar have raised $3m in seed funding from these, and other, investors!
Lets start by covering some of the current functionality and some of the upcoming features.
Bots
Currently, you can create DCA or API bots in Mizar although they are working on Grid bots & Smart Trade functionality. You can create as many DCA bots as you like and you will also be able to create as many Grid bots as you like. DCA bots can be multipair, single pair and they have all of the same settings as your would find in 3Commas or any of the alternative platforms.
You can also make money from your bots by publishing them on the Marketplace. This allows you to take a percentage performance fee from people that subscribe to your strategy. This essentially allows you to make additional passive income from your bots.
API bots allows you to open and close trades on multiple exchanges using Mizar using an application or script that you have created yourself, track the profitability and publish the strategies to the marketplace making additional passive income from people that subscribe.
Supported Exchanges
In terms of exchanges, Mizar supports a whole host of different exchanges. I’ve included a screenshot of the current exchanges below but the team continue to add more. Not only are Mizar focused on adding centralised exchanges to the platform but they are also working on incorporating decentralised exchanges too.
Whilst we are talking about exchanges, you also have the opportunity to use Mizar on Woo X as an exchange. If you hold and stake 1,800 WOO ($300 at the time of writing) on Woo X, you don’t pay any trading fees on the exchange which can save you some money to cover your Mizar volume fees instead!
Smart Trade
Smart Trade has just been released for beta testing. I’ve included a screenshot below. As you can see there is the ability to add multiple entries, multiple take profits & a stop loss.
Mizar are also working on IP Whitelisting which allows you to restrict the IP ranges that can trade using your API keys. The reduces the risk of someone using your keys if they get leaked.
Copy Trading
If you prefer to copy someone else’s strategy, you can. There are 117 strategies published in to the marketplace that you can subscribe to. This is the easy option to sit back and let someone else’s strategy make you money. Be warned, this is not guaranteed profit and this will require you to pay a % of the profit made to the strategy creator.
So, the important part, how much does it cost?
As I mentioned before, Mizar bills you based on the volume you use. The more volume you use, the bigger the reduction you get on the fees. I’ve included a screenshot of the pricing tiers below.
I haven’t included all of the tiers in the screenshot but there are another 3 tiers which range all the way up to >$10,000,000 of volume. You will notice here that for the first 5 tiers you have an OR condition. I’ll explain this further in the article but first of all, lets see some examples.
Example 1
Lets start with $50,000 of volume per month. You get your first $10,000 for free which means you would be billed on $40,000 of traded volume on the Nebula tier. 0.075% of $40,000 equates to $30 for the month.
Example 2
Now lets look at $250,000 of volume per month. You get your first $10,000 for free which means you would be billed on $240,000 of traded volume on the Sub Giant tier. 0.035% of $240,000 equates to $84 for the month.
You may have already noticed that there is a traded volume OR $MZR condition in the screenshot. Well, Mizar are planning to release their own token. This means that you could automatically get placed on the Giant tier regardless of the volume you trade. So lets take a look at what that does to the examples above if you held > 100,000 MZR….
Example 1 holding MZR
$50,000 of volume per month. You get your first $10,000 for free which means you would be billed on $40,000 of traded volume on the Giant tier. 0.023% of $40,000 equates to $9.20 for the month.
Example 2 holding MZR
$250,000 of volume per month. You get your first $10,000 for free which means you would be billed on $240,000 of traded volume on the Giant tier. 0.023% of $240,000 equates to $55.20 for the month.
The last thing to consider here is the exchange you are using. As I mentioned earlier in this article, Woo X doesn’t have fees if you buy and stake WOO on their platform. If you chose to move from Binance to WOO, you would likely be able to cover the cost of using the Mizar platform just by making the switch and if you bought and staked MZR too, well, it could be significantly cheaper.
MZR Token
The MZR Token is not yet available for public purchase. The team are waiting for better market conditions before launching it however, the expected price at launch is $0.0015 with a circulating supply of 702,857,333 the current market cap would stand at just over $1m and even if you take the total supply x current price, At this price, MZR is valued at $15m. Given what we see in the crypto market and particularly in bull runs, who knows what the price of MZR could be in the future. For me, this is a great deal, I can stop paying hefty fees for bot trading platforms upfront & I can hold a token which I think has a long term successful future….. For me, this seems like a win-win…..
What about their support?
Well, my experience so far is that their team are always available to support. I’ve raised 3 tickets in their Discord group relating to issues (which in all instances turned out to be problems of my own making!) and they have responded and investigated all of these instances within 30 minutes. Not only do they manage tickets in their Discord community but they also provide lots of helpful information along with the information that is provided by others in the community. I’ll leave a link to their Discord here.
I do have 1 issue particularly where it relates to trading futures which the team are already working on resolving. The minimum base order or safety order is $11. If you are testing bots, you want to do this with small amounts particularly when there is leverage involved. This is a global rule across the platform but the team are working on implementing individual requirements per exchange.
In summary, this platform will appeal to a wide ranging audience and giving their backing I believe that Mizar have all of the potential to grow in to a market leader in this space. I’ve already moved my DCA long bots to Mizar. I’ve been running them there for the last 4 weeks. In total, my bots have made me $219 with a trading volume of $29,660 which has cost me around 15 BUSD in fees on the Mizar platform during that time.
If you want an overview of the Mizar platform, you can click this link which will take you to a YouTube video where I provide an overview of Mizar and a quick look at the platform and I’ll be continuing to post video updates on my journey with Mizar!
If you have any questions or feedback, feel free to reach out and I’ll answer any questions or respond to any feedback.
Thank,
Mark @ RealisticCrypto
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DISCLAIMER
This is not financial advice, I’m not a financial advisor or accountant or tax professional. This is my experience of software tools that have helped me and my experiences with them.
I do use referral links in this guide. Using these supports future articles so if you found this article useful and you want to check out the tools I’ve covered, please use them. I’ll also call out where you get a discount — win-win right?
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