What We've Been Up To
It's been awhile, we've been hard at work and are ready to share the details. 👇🏼
For those that don't know, back in December we made the decision to temporarily shut down our trading bots as we had listened to all the community feedback over the last 18 months and had plans to restructure parts of our business based on feedback we received.
We wanted to give you all a deeper understanding of what we have been up to now that we are close to launching what we are calling "BreadBytes V2".
Here's a quick run down of what we we've been up and what we are going to expand upon in this announcement:
Implementation of Community Feedback
Parting Ways with Astrabit
API Platform Build
New Strategy / Strategy Improvements
How it All Works
Future Trading Tools & Resources
Implementation of Community Feedback
We are always listening to our community and what they dislike and like about our products and business. One of the common themes from the moment we launched was around cost and subscription fees cutting into potential bot profits. Especially for those trading a smaller dollar figure, it became hard for users to overcome the monthly subscription fees while it also became hard for us to have our strategies make more than what users were paying month over month.
As a team we brainstormed on a way to make our strategies completely FREE to the user. I'm happy to say we have achieved this goal and our BreadBytes V2 will launch with FREE trading bots to all users. This wasn't an easy feat for our team, but one that has been well received by our community. To achieve this we had to make some tough decisions as well as build out some sophisticated internal tools to make it all work.
Parting Ways with Astrabit
In our search for making our strategies completely FREE to users, we realized that continuing to work with Astrabit and be at the mercy of their pricing structure and how their business operated, wasn't in the best interest for us and held us back from what we wanted to achieve and bring to our community. So we made the tough decision to part ways with Astrabit for the betterment of our business. At the end of the day we wish nothing but the best for the Astrabit team and other Strategists. We appreciate the Astrabit team for allowing our bots on their platform.
We felt to accomplish our goal of offering custom created trading bots completely free to the user we needed to part ways with Astrabit and show the world that BreadBytes isn't just a strategist operating on a third party platform.
API Platform Build
This leads us to what I would say is our most impressive feat throughout this process and that is our internal API platform. For us to achieve the goals of providing our bots completely FREE to users, we needed a way to get our trade signals from our coded strategy to the exchange. Previously, Astrabit was the intermediary that handled this for us, but now, we needed a way to do this ourselves. So we started building our own platform that can send and receive signals to and from the exchanges.
This took months for us to build, but I can finally say, it is finished, alpha and beta tested, and is ready for primetime! This tool now allows us to send our signals directly to the exchange and for our users to copy those signals completely FREE!
New Strategy / Strategy Improvements
The next thing we wanted to work on is building out our new trading strategy and refining what we previously had built. At the end of the day, even if our strategies are free, if they don't perform well, it doesn't really matter. So we spent a lot of time re-tooling, analyzing the markets, re-hashing what went well and what went poorly with our previous strategies and got to work building out new and improved strategies that we are excited to launch in the very near future.
We spent a ton of time and resources making sure our strategies were safer with lower drawdowns, smarter with more timely entry/exit points and capitalized on different market types to allow a user to get broader exposure regardless of market conditions. One of the biggest differences you'll notice in our new strategies is the number of trades. By making the strategies safer and more timely entry levels, this significantly cut down the number of trades taken but what this has done while lowering the quantity a bit, it has significantly increased the quality.
When we launch our BreadBytes V2 bots, we will start with 2 strategies. Our first one will be on ETH and our second one will be on DOGE. These strategies have been backtested for years and live tested for months and we can't wait to see performance and community results once you are trading them along side us. We'll be sharing more detailed information about these strategies in the coming days, so stay tuned!
How it All Works
Now that we've gotten through a lot of what we have accomplished over the last 3-6 months, you may be wondering how you get setup and how this all works.
We've tried to make the process as simple as possible for the user, so you don't have to worry about creating API keys and secrets and pasting them into website and worrying about expiring APIs or paying monthly subscription fees. The process is quite simple, you'll go to our website, sign up with one of our partnered exchanges, using our referral link (this is how we get paid and stay in business) once you've signed up, just fill out the form on our website with your exchange selected and User ID from that exchange. From their we will add you to our copy trading account on the exchange, at that point, on your exchange site, you can choose the amount of money you want to allocate to the strategy then wait for the first trade signal to come through. That's it!
We have past the cost off of the user and onto the exchange. So by you signing up for our referral link, we receive a small commission on your trading fees, paid to us by the exchange. This allows us to offer the strategies to you for FREE.
Future Tools & Resources
While a lot of what BreadBytes has focused on in the past has been strategy building and strategy enhancements we don't consider ourselves a strategist. We feel BreadBytes is much more than this and we've been developing some really awesome tools for traders to use. Remember, our goal is to help people make money, save money and save time. Our future tools and resources will check all of these boxes and we're overly thrilled to share them with you all! We expect to have more news coming this summer! And who knows...maybe there will be some beta spots available before then 😉
We appreciate everyones patience while we have taken the right steps to provide a solid product. Again, we don't want to cut any corners and at the end of the day everything we are developing is for YOU. We are truly thankful for our community and everyone who has believed in BreadBytes. It really does mean a lot and while BreadBytes started out as a small simple idea it has turned into something much more.