Mizar Crypto Bot Review

If you are looking for an affordable and easy cryptocurrency trading solution, you may have heard of Mizar. As a relatively new platform, Mizar does not have much of a user base. But the reviews that it gets are mostly positive due to its accessibility and ease of use.

To help you determine whether the platform is worth your time, this Mizar crypto bot review guides you through its offerings.

⌛ What is Mizar Crypto Bot and How Long Has It Been in Business?

Established in early 2021, Mizar is a London-based provider of cryptocurrency trading bot services. Its platform is based upon the idea of making automated cryptocurrency trading easier yet profitable for new and experienced traders alike. For this purpose, Mizar connects to popular exchanges and helps you buy and sell your digital assets through different strategies against certain market conditions.

Mizar operates through a web-based platform, which allows you to access it through any computer without installation. It also comprises different features including but not limited to automated bots, copy trading, and paper trading. With it, it offers a smart trading terminal that you can use to handle your trades across multiple exchanges from a single platform.

Unlike many other popular bots, Mizar does not charge a monthly subscription fee to its users. Instead, it works on a commission-based system that is tied to either your trading volume or your staking of Mizar’s utility token dubbed as MZR. Besides this functionality, Mizar also takes pride in letting users pay performance fees to those traders who let them copy their trading strategies.

Mizar offers automated trading solutions in two categories namely dollar-cost-averaging (DCA) bots and copy trading. While this limits the platform’s offerings as compared to its more popular competitors, the relative infancy of the platform gives it the benefit of the doubt in terms of expanding its features overtime.

But this is just the first part of the Mizar review. In order to learn more about the platform, it is important that you explore its many other aspects and see how they hold up to your expectations.

💡 How Reputable is Mizar Crypto Bot?

Since Mizar was founded, it has had no major red flags about its service come to the surface. In fact, many of the outlets that have reviewed its services have sung praises of its solutions. While this is a quite surprising development given the limited features of Mizar, it works in the platform’s favor nonetheless.

Expert reviews praise Mizar’s ease of use, its focus on automation, and its ability to let users copy trading strategies from other traders on the platform. Its smart trading terminal that focuses on automating trading across multiple approaches also gets positive comments, while its API that lets advanced users tweak their strategies also go a long way towards earning it favorable sentiments.

But the proposition that gets the most attention for Mizar is its fee structure and its utility token by the name of MZR. Where many other popular cryptocurrency trading bots ask users to pay a monthly or yearly fee, Mizar charges a fee against trading volume and copy trading.

While this could be a double-edged sword due to how much it could charge traders in the long run as compared to a small monthly fee, the experts who review Mizar and subsequently act as its proponents find it to be a better way to pay for cryptocurrency trading.

This is also where it gets interesting. On one hand, Mizar earns quite a bit of praise by not asking for upfront costs. On the other hand, the fee that it can charge against trading volume can be unpredictable and only gets discounted if you purchase and stake a certain amount of MZR through the platform. But the pricing structure still remains far more competitive as compared to other trading bots currently available in the market.

Despite the near-perfect expert reviews, MZR does not have much traction in the cryptocurrency community. There are little to no accounts about Mizar’s user experience on platforms such as BitcoinTalk or Reddit. But this also means that it has no negative publicity.

All things considered, analyzing these tricky factors during the Mizar bot review leaves the platform’s reputation to be quite ambiguous. This makes it important for you to analyze other aspects that are associated with this cryptocurrency trading bot solution.

👌 Which Exchanges Does Mizar Crypto Bot Support?

Mizar supports a variety of exchanges over spot and futures trading.

The platform’s spot trading feature supports the following exchanges.

  • Binance
  • Binance.US
  • KuCoin
  • OKX
  • Coinbase PRO
  • Bybit
  • Huobi
  • MEXC
  • Crypto.com
  • WOO X
  • Bitget

Out of these exchanges, the following support futures trading.

  • Binance
  • KuCoin
  • OKX
  • Bybit
  • WOO X

Since Mizar is a relatively new trading platform, it vows to keep adding more exchanges to its list. Over the past two years, it has stayed true to that promise and went from an initial offering of supporting 6 exchanges to a total of 11 exchanges.

💰 How Much Does Mizar Crypto Bot Cost?

Mizar’s pricing structure is different from other cryptocurrency trading bot platforms. In place of a monthly fee or a lifetime license, it puts forth a commission-based system that is dependent on your trading volume as well as your purchase of its utility token, MZR.

This is based upon the platform’s STAR system, where each level refers to a star type. For the starting tiers, your fee is determined by either of the following two factors.

  1. Your 30-day trading volume in USD
  2. Your MZR balance that you stake with the platform

For instance, at one of the starting levels called Nebula, if your trading volume is lower than $50,000 or if you have 0 MZR in your account, you will get charged a trading volume fee of 0.075%.

Similarly, at the next level called Proto-star, if your trading volume is between $50,000-$100,000 or if you have staked over 10,000 MZR, your volume fee gets reduced to 0.60%.

That is also where the performance fee comes into the picture. This fee refers to charges that you pay to other traders for using their strategies in copy trading. This can range from 5%-50% of your trade’s performance and depends upon the trader who is selling or sharing their strategy.

This performance fee is also related to your trading volume as well as your MZR stake amount. For example, in the Nebula STAR level, you get a 10% reduction in the performance fee; while in the Proto-star level, this reduction bumps up to 15%.

You can see the full fee structure on the website. This also allows you to remain updated if the figures above are changed by Mizar in the future.

In turn, this section of Mizar crypto bot review can easily outline that the fee structure for the platform is most certainly different from most of its competition. But in instances where you don’t have a high trading volume or have a little to no MZR in your staking account, you can expect to pay fees as high as 0.075% of your 30-day trading volume.

However, this also sets out to be an affordable amount for you and your trading strategies. For instance, if your 30-day trading volume is $30,000 and you have 10,000 MZR in your staking account, you may need to pay approximately $18 for using Mizar. With access to full features of the platform, this is not a bad deal as compared to other trading bots.

😎 How Easy to Use is Mizar Crypto Bot?

Mizar is built upon the notion of being easy to use and simple to operate for its traders. Due to this reason, it boasts of an intuitive graphical user interface (GUI) that is comfortable to use for new traders and full of functionality for experienced traders

For starters, Mizar has a streamlined and modern user interface that is completely operable through the web. This doesn’t require you to install the program on your computer. This is in line with many other cryptocurrency bots that are also operable through the cloud.

With it, Mizar also boasts of copy trading as its star feature that lets users adopt the strategy of successful traders through an available marketplace. This eliminates the guessing game as well as the trial-and-error approach for fresh or even seasoned cryptocurrency traders, and presents opportunities that come with a tried-and-tested history of profits.

But even when you are not using copy trading, you can use Mizar API, paper trading, or smart trading terminal to trade according to your own strategies. This is an advanced way to buy and sell cryptocurrency that is fit for more experienced traders.  

With features such as TradingView Signals in API trading, you can also keep track of your trading through helpful charts. This lets you assess the strength of your strategies at a single glance in many cases.

Overall, in this section of the Mizar review, the platform comes through with flying colors and provides you with a simple solution that does not have a steep learning curve attached to it.

🛡️ What Kind of Security is Offered?

Mizar offers basic security. This begins with the platform being hosted on a secure server (HTTPS), which encrypts your login credentials and reduces the chances of your details getting hacked by malicious parties.

With it, Mizar also ensures that you don’t have to share your exchange’s login details with it to access your cryptocurrency funds. Instead, it uses API keys to connect to your exchange. When you have to stake your MZR, the platform offers a designated wallet for you to do so.

Mizar also offers two-factor authentication (2FA), which adds another layer of security to verify your identity through your phone each time that you log into your account.

Altogether, these essential security features put Mizar side-by-side with popular cryptocurrency trading bots. This makes it a safe platform to use according to industry standards.

👨‍💻 How Good is Mizar Crypto Bot Customer Support?

Mizar customer support is available through its own website through a helpdesk. But you can also reach out to live representatives through Telegram and Discord. Overall, the team remains responsive and proactive to help you with your issues and inquiries, which makes the level of service strong enough to hold its own against other popular cryptocurrency trading bot platforms.

If you join the Telegram channel or the Discord server, you can also connect with other traders who use Mizar. With hundreds of members and many of them actively corresponding on the platforms, you can expect to find a community that could help you with your cryptocurrency trading.

💸 How Profitable is Mizar Crypto Bot?

Mizar’s profitability is not set in stone, which is not different from any other cryptocurrency trading bot out there. It is because even with intense analysis, cryptocurrency trading can bring about unpredictable results due to market fluctuations. This makes it difficult for anyone to pinpoint how much profit a platform can generate for you.

However, Mizar’s copy trading strategies use historical data to signify how these strategies have worked for their creators in the past. This makes it easier for you to pick out the most profitable strategies that can possibly attain the same results for you.

Since Mizar remains transparent in the type of results that it can generate, this section of the Mizar bot review outlines the platform as a trustworthy entity.

✅ Is Mizar Crypto Bot Legit or Scam?

While Mizar does not have much significance or outreach in the cryptocurrency community, it has not had any bad reviews from experts or from users. The platform earned investments from the likes of KuCoin in its seed round in 2022, which adds a further layer of credibility to it.  

📢 Conclusion

Overall, Mizar brings about an alternative way to pay for your cryptocurrency trading needs, while also making it easier for new traders to break through in this segment of digital asset trading. Since the platform does not cost you anything upfront, you can easily give it a try to see how its offerings hold up to your expectations.

But as you move forward with the approach, it is important to remember that the cryptocurrency industry is highly volatile and has constant fluctuations in the value of its assets. Keeping this in mind, make sure that you are trading carefully and using funds that do not have an effect on your overall saving plans or your livelihood.