HEYBIT Launches the Global Open-Beta Service.
As part of its effort to make the investment in cryptocurrency easier, safer and more affordable for everyone, a Korea-based startup, UPRISE, Inc., has launched its crypto roboadvisor service HEYBIT, previously provided only in Korea, for global audience on April 8, 2020.
HEYBIT’s trading bot monitors the crypto market 24/7 and automatically trades for the user when the algorithm sees positive signals for market entry based on data analysis.
In most other existing services, users have to go through bot configurations and asset allocations by themselves, which complicated the investment process. On the other hand, HEYBIT users only need to select bot strategy (safe/balance/challenge) based on their risk preference.
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HEYBIT aims to seek alpha (active return) by beating the market return. HEYBIT’s strength lies not only in its stable performance but ultimately in its risk management in the highly volatile cryptocurrency market. Even in the recent market downfall, it has limited the loss to -1.2%p whereas simply holding would have resulted in -40.6%p loss during Feb. 16, 2020 to Mar. 16, 2020 like many other assets.
HEYBIT’s MDD (Max DrawDown: maximum observed loss from a peak to a trough of a portfolio) has recorded -8.5% since its launch on Aug. 1, 2018. This makes the long-term crypto investment more sustainable and bearable.
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With such track record, HEYBIT has become the leading crypto roboadvisor in Korea with over US$450m in transaction volume and became the official broker partner for Binance in February.
HEYBIT is currently supported in 4 crypto exchanges (Binance.com, Liquid, Upbit, Bithumb) and invests in 6 cryptocurrencies (BTC/ETH/XRP/BCH/EOS/BNB, may vary by exchange) which have relatively high liquidity to ensure trading performance.
During the open-beta period, the users will be exempt from any service fee by HEYBIT.
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