Mudrex Review

What is Mudrex?

If you’ve read any other Mudrex reviews, you might have noticed it being described as a no-code automated crypto trading platform with such features as Algos, backtesting, and the possibility of building your own bots. Well, that's not the case anymore. So, what is Mudrex now?

Let’s start from the beginning. The platform initially was launched in India in 2018 by Edul Patel, Prince Arora, Rohit Goyal, and Alankar Saxena as a cryptocurrency exchange. The company was (and still is) based in Bengaluru and headquartered in San Francisco, USA. However, right after the launch, the Reserve Bank of India prohibited banks from engaging with crypto-related businesses^[1].

Therefore, in 2019, Mudrex was transformed into a digital currency automated trading algorithm marketplace. This shift was also prompted by the limited awareness and adoption of algorithmic trading, particularly in India.

As time went by, the company saw exponential growth in its retail investor audience - following that, it rebranded, and launched the Mudrex app, which I’ll be reviewing today.

Thus, the short answer to the question, "What is Mudrex?" is that it is a crypto investment application made for retail investors. The mobile app is available on both the App Store and Google Play Store (and there is also a desktop version).

Now, you might be wondering – is Mudrex safe and legit, what kind of features it offers exactly, what are Mudrex fees, and how to use Mudrex? Well, let’s take it one step at a time.

Mudrex Review: PROS

I’ll begin this Mudrex review by going through its main selling points. There are quite a few of those.

Encrypted, Insured, and Licensed

You want to know is Mudrex safe? You should! Security is the most prominent thing when it comes to choosing a reliable investment app. After all, it’s your funds that are in question.

Luckily, Mudrex’s security game is pretty strong. The platform employs AES-256 encryption, offering an unparalleled level of security for every transaction. This robust encryption method is widely recognized for its effectiveness in safeguarding sensitive data.

Furthermore, Mudrex incorporates multi-factor authentication (MFA) as an additional layer of protection for user accounts. This means that even in the event of a potential security breach, unauthorized access remains highly unlikely.

In terms of fund security, Mudrex goes the extra mile. All funds on the platform are insured by Lloyds of London, providing an added layer of financial security. This insurance coverage serves as a safeguard against unforeseen events, adding an extra cushion of protection for user investments.

The majority of these funds are stored in cold wallets, enhancing security measures even further. Cold storage involves keeping assets offline, isolated from potential cyber threats. This precautionary measure significantly reduces the risk of unauthorized access or breaches, making it an effective strategy to fortify the safety of user holdings.

However, to guarantee prompt accessibility and liquidity, a smaller portion of their funds is also allocated to hot wallets. This two-tier storage approach balances safety and efficiency.

So, based on all these precautions, I’d say that the answer to the question, “Is Mudrex safe?” is a pretty solid yes.

By the way, for those wondering is Mudrex legit, it’s worth noting that the company is registered with the FIU in India, solidifying its position as a legitimate player in the crypto space. Additionally, it is recognized as a virtual asset service provider in Europe (overseen by the OAM in Italy), underlining its commitment to compliance on an international scale.

Over 350 Supported Crypto Assets and Multiple Fiat Currencies

Since the Mudrex app is made specifically for investing in crypto, it’s only natural to wonder how many assets it supports. The more the merrier, right?

When it comes to Mudrex crypto coins and tokens, it boasts a collection of over 350 assets. This includes the most popular ones (like Bitcoin, Ethereum, or Binance Coin), as well as some of the less-known ones (such as Livepeer, Moonbeam, or Cartesi).

The best part is that you can quickly purchase all these tokens using a variety of fiat currencies, including INR, EUR, AED, or TRY. Even if you are a beginner who doesn’t have any crypto yet, and doesn’t really understand how to buy it on cryptocurrency exchanges, you’ll be just fine – buying crypto on Mudrex’s global fiat on- / off-ramp is very easy.

Just pick the asset you want to buy, the amount you need, the fiat you want to use, and proceed with the payment. Speaking of that, Mudrex supports various payment methods, including credit / debit cards, IMPS, SEPA Instant, and UPI.

Though, apart from making one-time purchases, the Mudrex Coins feature provides a systematic investment approach, allowing you to set recurring ones on a daily, weekly, or monthly basis. You can set the Mudrex app to buy more during price dips and less when prices surge.

In addition to all that, it's also worth noting in this Mudrex review that the app offers the Watchlist feature, which allows users to monitor and track the crypto they are interested in (even if they don’t own it). It provides valuable insights and real-time data on selected assets, enabling you to make more informed investment decisions.

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Hassle-Free Investments with Mudrex Coin Sets and Vault

Speaking of investments, you’ll notice in many Mudrex reviews that its biggest selling point is its investment features. To be more precise, I’m talking about Mudrex Coin Sets and Vault. Let’s see what these are about.

Mudrex Coin Sets essentially are theme-based crypto baskets, also known as crypto index funds. Crypto baskets are particularly appealing for investors who are cautious about the high volatility associated with individual cryptocurrencies. A diversified portfolio can help mitigate the risk associated with the extreme price swings that can occur in the crypto market.

Investing in a crypto basket is often more straightforward than managing a portfolio of individual cryptocurrencies. It provides exposure to a variety of assets through a single investment, making it more convenient for those who want to participate in the crypto market without extensive research (you should still do at least the bare minimum amount of research, though).

“What do you mean by theme-based?” you might ask. Well, for example, there is a Crypto Broad Market Index Coin Set that consists of the top 30 tokens, like Bitcoin, Ethereum, Cardano, etc. Or, there is the AI Tracker Mudrex Coin Set that consists of the top AI projects in the crypto market, including The Graph, Fetch.AI, Render Token, and others.

So, these baskets include coins or tokens that can be grouped into specific themes based on their market cap, purpose, type, and whatnot.

Now, one of the key advantages of Coin Sets mentioned in many user Mudrex reviews is the ability to automate trading strategies. You can either implement predefined ones or customize your own. Though, either way, you are always in control of your assets, and you can redeem them anytime.

Additionally, note that you can create and manage your own customized crypto portfolios, selecting a combination of digital assets that will align with your investment goals, risk tolerance, and market preferences.

Moving further, let’s talk about Mudrex Vault. It’s a savings account that promises to bring up to 10% daily interest. The account has no lock-in period, so you can withdraw your money anytime.

How does it work, exactly? You simply deposit a desired amount of fiat into the Vault, which converts your funds into USD-pegged stablecoins (like USDT or USDC). Then, the Mudrex crypto app takes these stablecoins and uses them on various DeFi platforms for lending, staking, or liquidity provision with the goal of generating returns.

Besides, you can potentially get even more than 10% returns if you invest in a currency that experiences depreciation against USD. For instance, let’s say that the USD to EUR exchange rate rises by 3%. In such an event, you could receive that extra 3% on top of your standard returns.

All in all, Mudrex Vault is like a virtual piggy bank that will put your money to work on your behalf.

Personalized Investment Insights and Assistance

Every avid investor knows that success doesn't come from an “invest-and-forget” approach. Instead, it's all about a three-pronged strategy – making informed investments, having a disciplined approach, and analyzing your portfolio.

Investment analysis indeed is one of the major keys to success because it helps to determine what works and what doesn’t. The Mudrex crypto app understands it and, thus, provides users with Portfolio Insights.

This feature is praised in many user Mudrex reviews as it displays various types of information regarding your portfolio, spotlighting potential opportunities and threats in your investments and allowing you to better understand your investor persona. To be more precise, there are five types of insights it shows:

• Bitcoin VS Portfolio Performance. It allows you to compare how your portfolio stacks up against the gold standard of crypto - Bitcoin.
• Asset Allocation. It displays your investment distribution among different assets and helps you understand whether you are overexposed or underexposed to certain assets.
• Capital Spread Across Market Caps. It summarizes how your capital is divided among large-cap, mid-cap, and small-cap crypto assets, which helps to determine your risk level.
• Sector-Wise Asset Allocation. It helps you understand where your investments lie across various sectors, ensuring you're riding the waves of emerging trends.
• Portfolio-Relevant News. It displays tailored news that keeps you informed about what matters most to your investments specifically.

Alongside Portfolio Insights, Mudrex also provides users with Token Insights. These insights display three types of token ratings on the Mudrex Scoreboard: fundamental, technical, and sentiment.

The fundamental rating offers a clear snapshot of a token's underlying technology, security, ecosystem, and industry attention, based on the data collected using the Token Insights API. The rating system of this metric ranges from AAA (Outstanding) to D (Poor).

The technical rating displays valuable metrics about a token calculated using a variety of indicators like moving averages, oscillators, and others. It's especially useful when making an in-depth technical analysis.

The sentiment rating shows insights about the market sentiment (bullish, bearish, or neutral), enabling users to gauge the prevailing mood of the market. These insights are provided with the help of LunarCrush.

Now that’s pretty nice. But these are not the only features that help to analyze your investments. Mudrex also provides users with several tools and calculators, including Crypto Returns Calculator, Indian Crypto Tax Calculator, Fear & Greed Index, and various converters (crypto, fiat, etc.).

Besides that, for those who need assistance when it comes to analyzing their Mudrex crypto portfolios or navigating the crypto market overall, the app has the Mudrex Expert feature. It offers the opportunity to have private consultations with actual crypto experts.

As you can see, Mudrex puts a lot of effort into making investing as easy as possible.

Education-Focused Approach

One more thing that I want to discuss in my Mudrex review is the educational materials offered by the platform. Recognizing that the trading behaviors of informed and uninformed investors play a crucial role in shaping the efficiency of financial markets^[2], Mudrex aims to equip users with essential knowledge and insights.

The variety of Mudrex’s learning materials goes from structured information about several crypto assets and a blog, to specialized learning modules and quizzes. Let’s break them down one by one.

For starters, I really liked the “Know Your Crypto” section, which provides you with key information about specific crypto assets in an Instagram-story-like style. I'd say this way of displaying information surely is interesting and fun.

However, as of writing, Mudrex only provides this info about some of the most popular assets like Bitcoin, Ethereum, and so on. Hopefully, in the future, you’ll be able to see such type of info about each supported asset.

Moving further, when it comes to specialized learning modules, Mudrex provides users with an educational site called Satoshi School. It features courses about investing, blockchain basics, trading, etc. Though, the course selection is not very wide yet.

Moreover, there is the Mudrex crypto blog, which provides investors with various articles about crypto, how-to guides, and market outlook reports. This, paired with Mudrex’s weekly newsletter (Flippening), offers a pretty decent collection of informative materials.

By the way, the app gamifies the learning experience with the Quiz Quest, which covers a range of topics and allows you to test your knowledge with short and easy quizzes. So, even if you are a busy bee, you’ll be able to fit a few quizzes into your daily routine.

What I want to highlight in this Mudrex review is that its educational materials are made in a very easily consumable manner, which goes hand in hand with the overall ease-of-use approach of the whole platform.

Additionally, note that Mudrex puts quite a strong emphasis on the importance of community and, thus, invites its users to join the WAGMI Club, which is a student-led Web3 community comprised of over 1800 students from leading Management and Technological Institutes.

The acronym "WAGMI" stands for "We're All Gonna Make It," reflecting a shared belief in the potential for financial success in the world of cryptocurrencies.

This community serves as a space for members to discuss various aspects of the crypto market, share insights, and exchange ideas. It also offers various resources, educational content, and updates on the latest trends and developments, as well as organizes events, webinars, or meetups to further engage and educate its members.

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Mudrex Review: CONS

Now that I’ve covered the pros of the platform, I'm going to proceed my Mudrex review with some cons. After all, there always are places for improvement, no matter what app or service is in question.

Limited Country Support

As you already know, the Mudrex Indian app is described in some Mudrex reviews as one of the leading investment applications in the country. Based on the proclaimed 1 million+ users, it’s only natural that it gets such a title.

That’s the point, though – Mudrex is one of the leading INDIAN apps, which means it’s not that widespread yet. Its international presence only began to take shape in September 2023, with an initial foray into Europe, commencing with Italy.

While this marks a significant step towards global expansion, Mudrex is still in the early stages of establishing a wider international footprint. The company has ambitious plans to extend its services to other European countries, and it has initiated the approval process to operate in the United Kingdom.

Yet, as of now, the heart of the company’s operations and focus remains firmly rooted in the Mudrex Indian audience.

No Advanced Trading Features

Another con I want to note in my Mudrex review is the lack of traditional trading features. There are no spot, derivatives, margin, or any other types of trading services offered by the platform. Its fiat on- / off-ramp is the closest you get to trading.

Now, don’t get me wrong, I do understand that the main target audience of the Mudrex crypto app is retail investors and that it intentionally focuses on investing, excluding any crypto trading features. You can see that clearly when you enter the Mudrex homepage.

However, if we were to look at it in the grand scheme of things, Mudrex might not be the best choice for those who want to find an all-in-one crypto hub where you can participate in trading, investing, collecting NFTs, and whatnot.

Nevertheless, Mudrex seeks to provide retail investors with everything they might need for a smooth, hassle-free experience.

Mudrex Pricing: Is it Really Competitive?

This surely wouldn’t be a proper Mudrex review if we didn’t discuss Mudrex pricing. The fees of any platform definitely are a make-it-or-break-it aspect for many. Knowing Mudrex fees might even help you answer the question, “Is Mudrex legit?” Now, the platform itself claims to offer competitive pricing – let’s see if that’s truly the case.

First off, we have Mudrex fees for deposits and withdrawals. When it comes to fiat deposit and withdrawal fees, they vary based on the currency in question.

If we take the Indian Rupee as an example, no fees apply for INR deposits. However, there is a 0.5% INR withdrawal fee, which is also accompanied by applicable taxes (18% GST and 1% TDS). As for other fiat currencies (like EUR), there is a 0.5% fee for both deposits and withdrawals.

Speaking of crypto deposits and withdrawals, there are no deposit fees, but there is a 2% withdrawal fee. According to Mudrex, the lowest point of crypto withdrawal fees is $0.5, while the highest – $10.

Table: Mudrex fees for fiat and crypto deposits and withdrawals

Okay, we’ve covered deposits and withdrawals, what about Mudrex pricing for its features?

For one, there are no Vault fees, which means you can put money into savings accounts without any extra charges. When it comes to simply buying and selling crypto through the Mudrex Coins feature, there is a 0.25% fee applied in both instances.

As for Mudrex Coin Sets, there are no investment fees, and there are usually no redemption fees as well. Usually? What’s that supposed to mean? Well, there are no redemption fees if you redeem the funds within 1 month from your investment. However, if you do it after 1 month passes, there will be a 1% Mudrex fee.

Also, there is one more crucial Mudrex pricing point when it comes to Coin Sets - the rebalancing fee. Rebalancing is the process of adjusting the weights of the assets in your Coin Set by buying and selling them based on the need. This process takes place monthly, and its fee varies from 0.25% to 1% (depending on the Coin Set in question).

Table: Mudrex fees for buying and selling crypto, Coin Sets, and Vault

Well, that’s all. Does Mudrex pricing seem reasonable and competitive? Compared to the industry standard, I’d say that it is.

How to Use Mudrex?

Now that we’ve answered such questions as, “What is Mudrex?” and “Is Mudrex legit?” the last thing that’s left to discuss is how to use Mudrex.

How to Sign Up on Mudrex?

Let’s begin with the basics.

Step 1: As I’ve already mentioned many times in this Mudrex review, it is an app. So, to sign up, you first need to download the app, obviously. You can either search for it on the App Store or Google Play Store, or scan the QR code on their website.

Step 2: Once you download the app, you’ll be able to sign up with an email address, Google account, Apple ID, or phone number. Choose whichever you prefer and go over the required steps. If you’ve ever registered on any app (and I’m 99% sure that you have), you’ll see that the process is pretty familiar and intuitive.

Step 3: To access the app’s features, you’ll have to undergo the Know Your Customer (KYC) process, which adds an extra security layer to your funds. You’ll have to provide your country of origin, PAN card, bank, and Aadhaar card details, as well as perform a liveness check.

After your identity gets approved, you’ll be free to explore the Mudrex app features. Speaking of features…

How to Use Mudrex Coin Sets?

Mudrex Coin Sets is the key feature of the app. The best part is that it is very easy to use – so easy it merely takes two steps.

Step 1: Go to the “Coin Sets” tab and browse through the available sets. Now, the “browsing” part is very important because you have to pick correctly. Explore the different themes offered and choose the one that fits your needs best.

Step 2: Pick how much you want to invest, check out the investment details, and once you’re sure that all is fine, click “Invest Now” and let the Mudrex app do the work for you.

However, once you invest in a Coin Set, you shouldn’t just leave it be and forget about it – you should monitor the performance of your investment. Even though it does work on predefined rules, an error could occur anytime, so you might need to withdraw your investment.

All that said, as you already know, Mudrex does provide you with convenient tools for portfolio monitoring and even personalized assistance if you need any help.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

Mudrex, India’s leading investment app, surely is an interesting choice. You’ll notice in many Mudrex reviews that the company has changed its focus twice now, seeking to cater to the needs of retail investors, especially new ones. It not only provides users with over 350 crypto assets, crypto baskets, and a savings account, but also puts a strong emphasis on user education and personalized experience.

For those wondering is Mudrex legit, the answer is a pretty solid yes – the platform employs strong security measures, is registered with the FIU in India, as well as is recognized as a virtual asset service provider in Europe.

However, even though the company plans to expand its footprint worldwide, its main focus is still set on Indian investors. Besides, if you’re searching for a platform that provides advanced crypto trading features, you won’t find them on Mudrex. Nevertheless, Mudrex seeks to provide a simplified investment experience and proper crypto education, so it’s surely worth checking out.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. N. Kshetri: ‘The Indian Blockchain Landscape: Regulations and Policy Measures’;

2. M. Ozdamar, A. Sensoy, L. Akdeniz: ‘Retail VS Institutional Investor Attention in the Cryptocurrency Market’.