What are crypto trading platforms?
The world of cryptocurrency trading is in a constant state of flux; up and down. With that said, it nevertheless remains popular among crypto traders and investors. The beginning of 2020, according to CoinMarketCap, is showing the gradual rise of Bitcoin price and crypto market capitalization. It is a matter of course that the price of cryptocurrencies is hardly predictable and crypto traders need to be very cautious.
Currently, the crypto market attracts attention from investors and traders who need quality and transparent instruments, which provide a safe, intuitive, and convenient way to trade more than 5000 currencies available online.
Crypto exchanges provide a variety of services, while cryptocurrency trading platforms can offer standard, and more complex, tools for both novice and experienced traders alike.
Let’s highlight a few aspects in which a number of crypto exchanges need to be improved:
- A full set of tools are necessary for comprehensive crypto trading. The tools are not always accessible in one place on exchanges.
- Due to the well-documented history of hacks, security systems on exchanges need to be tested for vulnerability;
- Mobile apps, if any, sometimes offer limited functionality;
- A built-in news system may not always be available on exchanges. This is important if you want to try to predict price movements;
- … the list goes on.
Crypto trading platforms unite exchanges and comprehensive trading tools so users can make well-considered decisions.
A crypto trading platform means:
- Experienced traders can use an advanced array of crypto trading tools;
- Blockchain helps run the business faster due to smart contracts and permits credible transaction performance;
- A platform is transparent. That’s why ‘pump and dump’ & market manipulation be visible.
Torex.One is a crypto trading platform, developing a many-in-one solution to traders who are looking for a variety of tools in a single place, alleviating various challenges:
Torex.One Crypto Artitrage:
An inter-exchange crypto arbitrage is a trading technique when a coin is purchased on one crypto exchange for one price and is then sold at a higher price on another. In order to earn money on crypto arbitration, a trader needs to follow the rate of a particular coin on several exchanges. Torex.One has a tool designed specifically for this, Arbitrage Tool. It takes into account the liquidity of order books on cryptocurrency exchanges and can be helpful in arbitrage cryptocurrency trading by uniting exchanges through the functionality of completing arbitrage deals in one place. In order to use crypto arbitrage function, users need to connect two or more exchanges to Torex.One using the API keys.
Arbitrage Tool’s key features:
- Exchange daily volume can be filtered. This filter allows traders to exclude exchanges with low daily volumes for cryptocurrency pairs;
- Traders can set the volume in which they want to trade, thereby allowing the liquidity of the order books to be analyzed.
- The traders can set the percentage difference they want to get (volume declared in the first filter).
This is an advanced crypto arbitrage bot that currently operates in a semi-automated mode and allows users to locate real price imbalances on cryptocurrency exchanges.
Let’s talk about other functions available on Torex.One that may be useful for crypto traders.
Traders can keep up with the situation by using the Price Notification tool. It sends notifications via Telegram whenever the price of a particular coin has reached the preselected value.
Traders can place, “Trailing Stop” orders to follow the order limit, along with the price for a certain step.
The partial triggering of the order limit, and reactivation of the previous market trend, leads to the order being canceled, with the remaining volume continuing to be pulled along with the price.
In manual mode, technical adjustment of the order can be made, specifying for how much percent the “Stop Loss” can go on. The user buys a coin and puts it on sale.
If the market starts to go up sharply but doesn’t reach the top, Torex.One moves the stop loss, thereby allowing the user to profit.
A “Take Profit” order is used to close your trade once it reaches a certain level of profit. Additionally “Stop Loss” and “Take Profit” orders can be used at the same time.
The functionality described above is a foundation. It is possible to create various customer-oriented services that can attract both novice and experienced traders in the cryptocurrency market on its basis.
For this reason, Torex.One will release a special feature – cryptocurrency betting.
What is Crypto Betting?
Torex.One Crypto Betting is a tool that will allow users to make online bets using smart contracts. The subject of the bet will be the dynamics of cryptocurrency exchange rates.
Users place their bets on certain conditions. Conditions of the bet can be different. For example:
- Price of a cryptocurrency crossing for a certain period
- Price being in a certain range at the time the bet is in effect
- Price being in a certain range at the time the bet expires.
Details:
- Users will be able to sort and filter the posted bet offers in order to take a bet.
- Users will have the opportunity to create betting conditions and send them exclusively to another user, without them being placed in the general listing.
- Payments to the winning side will be executed using TOR tokens.
- The service will allow users to form a clear vision of the crypto market and the dynamics of cryptocurrencies while making bets with someone who does not agree with the forecast.
- Therefore, this service may become popular among crypto enthusiasts who like to spend time in chat rooms and forums. It will allow translating verbal disputes and discussions into a venue of real actions and quantifiable results.
Torex.One Cryptocurrency App
By the end of 2020 Torex.One will release a fully functional mobile version of the crypto trading platform for Android and iOS. It is considered that the preliminary version of the cryptocurrency app with partial functionality will be available earlier within 2020. The basic functionality of the Torex.One crypto trading platform is and will be provided at no cost.
In conclusion
Crypto trading platforms can supplement the exchanges in an industry that is in need of high-quality analytical tools, powerful crypto arbitrage tools, and built-in communication channels.
Good functionality is crucial regardless of the size of the trade, as many crypto traders make the decision to move from smaller to high-volume trades (which is where advanced services become especially important).
It is important to mention that each exchange, broker, platform and trader should act responsibly on the market and take into consideration the golden rule: treat others the way you want to be treated.
The cryptocurrency market can be a place of solidarity, responsibility, and ethics.
