Month: January 2021

Here Are What You Need to Know About Cryptocurrencies Before You Start Trading

Are you planning to enter crypto trading? If yes, this post is what you need to outline some things you need to know before you start trading.

Don’t be surprised why Bitcoin continuously gains traction among traders. After all, it is a secure and global digital currency. While it is open to everyone, it offers you an exciting, profitable opportunity to delve into new asset classes.

Trading cryptocurrency seems to be scary. However, you just need to take time and effort to understand how this cryptocurrency works. Make sure to do your own research on your location since regulatory perspectives on Bitcoin are varied.

From February 2019 to June 2019, Bitcoin took an impressive 300% rally. So, interest in cryptos, especially Bitcoin, has been on the rise throughout that year. Imagine, it rallied from $3,130 to $13,800.

Studies showed that younger and millennial investors became more skeptical in terms of banks and traditional financial service providers. In fact, 40% of them plan to invest in cryptocurrencies.

Below are the things you should know about cryptocurrencies:

Market Capitalization

Little did you know that over 4,900 cryptos listed in the long list of exchanges? However, the media prefer covering the largest cryptos by market cap. These tokens are well-known to both seasoned and new traders.

Market capitalization will help you figure out the size of a company. As for the metric, it can be calculated by taking the price of the asset. After that, it is multiplied by the total number of shares.

Furthermore, the market cap also provides important insights into the level of trading risks. This what makes it essential for you to check the crypto’s market cap prior to trading. Be aware that cryptocurrencies with large circulating supply and high market cap have less vulnerability to extreme volatility and manipulation.

Taking Profit and Stop-Losses

For every trade you make, it’s a smart move to have a plan. By doing so, you can avoid emotion-led trading. Seasoned traders develop their game plan in terms of price at which they intend to buy and sell a particular asset.

As for the stop-loss order, it will protect you against significant fund loss by selling a certain asset based on the predetermined price that is a bit low the purchasing price. Beginners tend to make a mistake by placing the sell-order at a particular price and cancel it right before it is filled. That is because they fear to miss out on something, or they feel that the price will soon go higher.

Trading Volume

Before making a trade, make sure to check the trading volume of the digital asset. You need to know how many tokens are being sold and bought on a daily basis.

With a higher trading volume, it’s a lot easier for you to buy and sell a particular digital asset. If it has a low trading volume, it means that the digital asset lacks liquidity. So, you may struggle to buy the assets, or even you may have an existing order filled.

If a cryptocurrency has extremely low trading volume, then it’s an indication that it is a dead or ailing project. In November 2019, a number of largest digital currency exchanges have delisted some tokens with declining or questionable trading volume.

Conclusion

Remember that when you enter the world of cryptocurrencies, the trading process should not be risky or difficult. The Bitcoin Revolution application is always by your side. Besides, you simply need to make a game plan before taking action and do your own research before making a trade. 

Coinstats.app Best Crypto Prices and Portfolio Tracker Review

In today’s era of technology, people have changed the way how they used to invest their money. Yes, we are talking about the money investing platforms that are available online. Cryptocurrencies have become a popular choice for investors who can invest their money in virtual currencies. If you have started investing in Cryptocurrencies and want to keep yourself updated with the latest pricing and stats, then you must start using the Coinstats.app. Let’s collect some more information about this platform.

What is the Coinstats App?

Coinstats is a revolutionary platform or we can say app designed for mobile users who want to keep an eye on their invested virtual currencies. It’s an online Bitcoin portfolio tracking app designed for both, Android and iOS mobile users. The app is designed with the latest algorithms to fetch the real-time exchanges of over 250 cryptocurrencies across the globe.

The best part about this app is it lets you easily monitor the behavior of your cryptocurrencies in real-time. The stats of cryptocurrencies changes in real-time and you can see everything right on the front page of the app.

What makes this app more beneficial to Crypto users is it lets them explore what’s happening across the world with the specially customized News tab. The News tab is quite useful to those who have just started investing in the Virtual currencies. The same platform helps them gain more knowledge about the different markets and how they can gain more benefits from investing.

How does the Coinstats App Work?

Coinstats app is available for Android and iOS mobile devices. You can get it installed on a respective Smartphone from the official stores. Once the app is installed, you can start tracking Bitcoin, Ethereum, and all the other popular and non-popular Cryptocurrencies that are available on the virtual platform.

The app serves a user-friendly interface where a user can easily create the list of exchanges, he wants to display on the main page of the app. All the listed Cryptocurrencies will be displayed on the main page along with the exchange rates and other useful information. You can see that the exchange rates for each crypto is keep on changing in real-time.

The real-time tracking of exchange data works for 24/7. You are free to check the updates whenever and wherever you want.

Theme

When you first launch the app, you would be asked to select the preferred theme you want while using the app. You would be given two different options, Dark and Light, the Dark Theme is quite popular among the users as it makes the app look more premium. Select the preferred theme and start using the app.

The Interface

The best part about this app is it doesn’t want you to be an expert investor. The easy-to-use interface of the app lets anyone, even a beginner can start using the app with just a little knowledge about operating the app. Everything is easily accessible right from the app on an Android or iOS device.

User-friendly Dashboard

The dashboard of the app is quite neat where you will be given full access to different sections to keep the app up to date with the information you want. The main page of the app displays real-time exchange rates of the selected Currencies.

The portfolio tab lets you add exchanges to your wallet. This section lets you invest or exchange the money easily as per your choice. The preferred exchange currency can be selected by the user from the upper right corner.

Alerts tab sends real-time alerts with notifications. The Alerts tab can be customized with Auto or Custom mode. If you have good knowledge about Cryptocurrencies, then you can customize the alerts so that you can receive the alerts more frequently.

The News tab keeps you up to date with the latest information about the Crypto-world. The tab updates regularly with new information about different cryptocurrencies and markets.

Pricing:

The Cryptostats app is designed for all types of users, they offer different plans for different users. You can choose the suitable plan as per your preferences from the monthly and annual billing cycles with Pro, Premium, and Community plans. Check the below image for more information.

Conclusion:

No matter what type of Crypto-user you are, you must start to gain more knowledge about the world’s markets and how you can become a successful investor. The Coinstats app helps you to check the real-time updates and exchanges of your favorite Virtual Currencies. Install the app now and see how it can change your life!