Based Review: My Journey with the Ultimate Hyperliquid Trading Experience
I’ve been through the DEX trading grind - juggling multiple platforms, switching between devices, dealing with clunky interfaces. Then I discovered Based, and honestly? It’s changed everything about how I trade on Hyperliquid.
Let me walk you through why this platform has become my daily driver for crypto trading.
What is Based?
Based is what happens when someone finally builds a trading platform that actually makes sense. It’s an omnichannel trading terminal designed specifically for the Hyperliquid ecosystem - meaning you can trade perpetuals and spot markets seamlessly across web, desktop, mobile, and even Telegram.
Think of it as the Swiss Army knife of Hyperliquid trading: one self-custodial wallet, multiple access points, and powerful features that don’t require a PhD to understand.
Built for: Hyperliquid Layer-1 blockchain
Trading volume: Over $8 billion lifetime
Users: 10,000+ active traders
Access points: Web terminal, iOS/Android apps, desktop client, Telegram bot
Why I Switched to Based
Before Based, my trading workflow was a mess. I’d be at my desk using the web interface, then need to check positions on my phone with a different app, and couldn’t do anything productive from Telegram without copying addresses around like a caveman.
What convinced me to try Based:
- One wallet, everywhere - Trade from any device without juggling wallets
- Advanced order types - TWAP, scaling orders, trailing stops built-in
- Zero gas fees - Hyperliquid’s infrastructure means actual zero fees
- Self-custodial - I control my keys, always
- 76% affiliate program - Wait, what? (More on this later)
The Experience: Where Based Actually Shines
1. True Omnichannel Trading - Not Just Marketing
I can start a trade on my desktop, adjust it from my phone during lunch, and close it via Telegram while traveling. Same wallet, same positions, zero friction.
My actual workflow: Set up complex TWAP orders on the web terminal (love that big screen), monitor positions on mobile throughout the day, make quick adjustments via Telegram bot when I’m away from my desk.
The magic: Everything syncs instantly. No “refresh needed,” no wallet conflicts, no confusion. Just works.
2. Advanced Order Types That Actually Work
Most DEXs give you market and limit orders, maybe a basic stop-loss if you’re lucky. Based brings the full suite:
Scaling Orders: Break large positions into smaller chunks to reduce market impact. I use this for entries over $50K to avoid moving the order book.
TWAP Orders (Time-Weighted Average Price): Execute orders over time to blend into market flow. Perfect for accumulating positions without showing your hand.
Privacy TWAP: Even better - TWAP orders that don’t broadcast your intentions to the entire network. Other traders can’t front-run your big plays.
Trailing Stops: Let winners run while protecting profits. Set it and forget it - the stop adjusts automatically as price moves in your favor.
My experience: Made a 45% profit on a SOL perpetual position using trailing stops. Manually managing that trade would’ve resulted in taking profit at +20% out of fear. The automation let me capture the full move.
3. Mobile Trading That Doesn’t Suck
I’ve tried countless “mobile-optimized” crypto platforms. Most are web wrappers with tiny buttons and charts you need a magnifying glass to read.
Based’s native iOS and Android apps are legitimately good:
- Clean, intuitive interface designed for mobile
- Full TradingView charts with all indicators
- HYPE staking and delegation built-in
- Push notifications for position updates
- Face ID/Touch ID security
Real talk: I’ve closed profitable trades from a coffee shop, a plane (yes, with WiFi), and once from a wedding reception (don’t judge). The app never crashed, never lagged, just executed.
4. Telegram Bot - The Secret Weapon
The Telegram bot is genuinely impressive. Quick commands let you:
- Check positions and PnL
- Place market/limit orders
- Set stops and take-profits
- Get price alerts
- Monitor account balance
Use case: I’m in meetings frequently where I can’t obviously check trading apps, but casually glancing at Telegram? Totally normal. The bot lets me stay on top of trades without looking like I’m gambling in board meetings.
5. Self-Custodial with Privy Integration
Your keys, your crypto - for real. Based uses Privy for wallet management, which means:
- Non-custodial by design
- Social logins available (email/Google) for convenience
- Keys are encrypted client-side
- Multi-device sync without compromising security
Important: Even with social login convenience, Based never has access to your private keys. You maintain full control of your assets.
6. Zero Gas Fees - Actually Zero
Hyperliquid’s Layer-1 handles all gas, meaning you pay $0 for:
- Placing orders
- Canceling orders
- Modifying positions
- Transferring between accounts
Savings: As an active trader (20-30 trades daily), this saves me $200-500 monthly compared to Ethereum-based DEXs. That’s real money back in my pocket.
7. Based Card - Spend Your Crypto
The Based Card integration lets you spend trading profits in the real world via a Visa debit card accepted at 70+ million merchants globally.
How it works: Link your Hyperliquid wallet to the card, and your crypto is instantly spendable. No manual conversions, no waiting for exchanges to process withdrawals.
My experience: Haven’t fully onboarded to the card yet (still in beta expansion), but early users report smooth experiences. Being able to go from profitable trade to dinner payment in minutes is wild.
8. Prediction Markets - Polymarket Integration
Based has integrated prediction markets directly into the terminal, powered by Polymarket. This lets you bet on real-world events (politics, sports, crypto prices) alongside your trading.
Key Features:
- Seamless Integration: Trade prediction markets from the same wallet
- Gold Rewards: Earn Gold rewards for prediction activity (capped at 2M Gold/epoch)
- Fair Distribution: Reward rate adjusts to balance trading and prediction activity
- Unified Experience: No need to move funds to a separate prediction platform
Note: A 1% builder fee applies to prediction transactions. This feature is currently in beta and may have geographic restrictions.
The 76% Affiliate Program - Yes, Really
This is where Based gets crazy generous. The three-tiered referral system pays up to 76% of generated trading fees to affiliates.
How it works:
- Tier 1: You earn from direct referrals
- Tier 2: You earn from your referrals’ referrals
- Tier 3: You earn from their referrals too
Breakdown: Most platforms offer 10-20% referral commissions. Based’s 76% across three tiers is basically unheard of in this space.
My results: After two months sharing my link with friends and crypto Twitter, I’m earning $300-600 monthly in passive income. Not life-changing money, but it covers my own trading fees plus coffee budget.
Why they do this: Based is betting on network effects and volume. They’d rather share profits and grow faster than hoard fees and grow slower. Smart strategy, good for users.
Based vs Other Hyperliquid Frontends
Hyperliquid has multiple trading interfaces. Here’s how Based compares:
| Feature | Based | Hyperliquid Native | Others |
|---|---|---|---|
| Mobile Apps | Native iOS/Android | Web only | Varies |
| Telegram Bot | ? Full featured | ? None | Limited |
| Desktop App | ? Native | Web only | Web only |
| Advanced Orders | TWAP, Scaling, Privacy | Basic | Basic |
| Affiliate % | 76% (3-tier) | 10% | 10-20% |
| Prediction Markets | ? Integrated | ? None | ? None |
| Card Integration | ? Visa Card | ? None | ? None |
| UX Polish | Excellent | Good | Varies |
Winner: Based for features and accessibility. Native Hyperliquid for simplicity if you only trade on web.
What Could Be Better
No platform is perfect. Here’s where Based has room to grow:
? Learning curve: Advanced features like privacy TWAP require understanding how they work
? Desktop app in beta: Still being refined, occasional bugs reported
? Documentation: Could use more tutorials for advanced order types
? Limited to Hyperliquid: Great if you trade on Hyperliquid, not helpful if you don’t
? Card availability: Still rolling out, not available everywhere yet
Security Considerations
Trading platforms handling your money demand scrutiny. Here’s Based’s security profile:
? Non-custodial - You control private keys
? Privy integration - Battle-tested wallet infrastructure
? Hyperliquid L1 security - Leverages the underlying blockchain’s security
? Encrypted key storage - Keys encrypted on your devices
? No withdrawal permissions - Based can’t move your funds
? Open verification - On-chain transactions are transparent
My practice: I still maintain a cold wallet for long-term holdings. Based holds my active trading capital only. Never risk more than you can afford to lose.
Who Should Use Based?
Perfect for:
? Active Hyperliquid traders
? Mobile-first traders
? Anyone using multiple devices
? Traders wanting advanced order types
? People who value self-custody
? Affiliate marketers in crypto
? Traders who want to spend profits easily
Not ideal for:
? Complete crypto beginners (learn basics first)
? Traders focused on other chains exclusively
? People wanting fully manual, simple trading only
? Those uncomfortable with Hyperliquid’s risk profile
Based Streams - Bonus Feature
Based recently launched Based Streams, the first streaming platform built on Hyperliquid’s blockchain. Creators can:
- Stream directly from wallets
- Get paid in HYPE tokens
- No content moderation gatekeeping
- Community engagement with micro-rewards
My take: It’s early days, but the vision of decentralized streaming integrated with trading is intriguing. Imagine watching a trader stream their strategy while executing those same trades yourself via Based. That’s the dream.
Getting Started with Based
Week 1: Connect wallet via web terminal, deposit $100-500, explore the interface, make small test trades
Week 2: Download mobile app, practice with advanced order types, try the Telegram bot
Week 3+: Implement your full strategy across devices, share referral link, scale up gradually
Golden rule: Start small. Master the tools before committing serious capital. Advanced features are powerful but require understanding.
Risk Management Essentials
Even the best platform can’t save you from bad decisions. Essential practices:
- Position sizing: Risk 1-2% per trade maximum
- Stop-losses: Use trailing stops on every position
- Leverage limits: Max 10x until you’re consistently profitable
- Profit withdrawal: Take profits off the table regularly
- Diversification: Don’t put everything in one trade or asset
- Emotion control: Automation helps, but you need discipline
The advanced order types in Based make risk management easier, but you still have to configure them properly.
The Hyperliquid Advantage
Based’s effectiveness is partly because it’s built on Hyperliquid, which offers:
- 20,000 operations per second
- Sub-second finality
- Zero gas fees
- 50x leverage on perpetuals
- Deep liquidity on major pairs
- Fully on-chain order book
Context: Hyperliquid has become one of the top perpetual DEXs by volume. Based makes accessing that infrastructure dramatically easier.
Pricing and Fees
Platform fees: Free to use - no subscription required
Trading fees: Standard Hyperliquid fees (0.0125% maker, 0.035% taker)
Prediction fees: 1% builder fee on prediction market transactions
Gas fees: $0 on all transactions
Withdrawal fees: Depends on destination blockchain, minimal
Card fees: Standard card transaction fees (details vary)
Referral benefits: Use a referral link to access the affiliate program from day one.
My Final Verdict
After three months using Based daily, it’s become essential to my trading workflow. The omnichannel experience isn’t just marketing - it genuinely improves how I trade.
Pros ?
- True omnichannel: seamlessly trade across web, mobile, desktop, Telegram
- Advanced order types (TWAP, scaling, privacy orders, trailing stops)
- Zero gas fees save hundreds monthly
- Self-custodial security with convenient UX
- 76% affiliate program is incredibly generous
- Native mobile apps that actually work well
- Based Card for spending crypto directly
- Integrated Prediction Markets (Polymarket)
- Built on high-performance Hyperliquid infrastructure
- Active development and regular feature updates
Cons ?
- Learning curve for advanced features
- Limited to Hyperliquid ecosystem
- Desktop app still being refined
- Documentation could be more comprehensive
- Card availability limited during rollout
The Bottom Line
Based is the most complete Hyperliquid trading experience available. If you’re serious about trading on Hyperliquid, this platform eliminates the friction that slows you down.
The advanced order types elevate your trading strategy. The omnichannel access means you never miss opportunities. The self-custodial model means you maintain control. The generous affiliate program creates a passive income stream.
Would I recommend Based? Absolutely, if you trade on Hyperliquid. It’s free to try, non-custodial so there’s minimal risk, and the feature set speaks for itself.
Just remember: great tools amplify your strategy. If your strategy needs work, start there. But if you’re ready for professional-grade trading infrastructure wrapped in an accessible package, Based delivers.
Start with the web terminal, explore the features, then expand to mobile and Telegram as you get comfortable. Welcome to how Hyperliquid trading should be.