3 Key Features Every Crypto Investor Should Consider in a Crypto Trading Platform

Crypto trading platforms designed to execute trades 24*7 automatically are surging in popularity, and for good reason.

15:42 28 February 2022

Crypto trading platforms designed to execute trades 24*7 automatically are surging in popularity, and for good reason. Here are 3 key reasons why they’re enjoying so much success and adulation from traders.

 

Combing thru the highly volatile crypto market for legit trading opportunities for hours together is a tall ask. Which is why crypto trading platforms designed to execute trades 24*7 on your behalf are all the rage now.

 

Armed with a sophisticated trading system, these platforms are a boon to traders no matter their skill level, experience, and ambitions. Whether you are a rookie new to the crypto scene, or an intermediate trader working on leveling up his or her game, or a seasoned trader wanting to tap the power of automation to inch ahead in the market, these special trading platforms have something unique to offer to each of you. Although these platforms are not much of a help with planning or strategizing they’re reportedly getting better on that front as well. They come into their own when it comes to execution and helping traders identify trading opportunities with maximum profit potential while keeping risks down.

 

Here is a roundup of some common features that make sophisticated trading platforms a game changer for most traders out there.

 

24*7 Price Tracking and Monitoring

Advanced automated trading platforms have at their heart intelligent algorithms that are designed to track and monitor price movements of various crypto currencies including Bitcoin, Ethereum etc round the clock. The degree of sophistication built into such platforms is huge, usually extending to powerful pattern identification capabilities that make it easier to spot key trading setups on a real time basis. As price action patterns emerge, these intelligent trading platforms ascertain whether the movements in price sit well with the trade conditions laid down by the trader. If the rules set by the trader are met, the algorithms generate a signal that a legit opportunity has been identified and a trade will be executed as per the parameters specified.

 

Ultra-Fast Execution of Trades

To be able to perform ultra-fast execution of trades is not a luxury anymore; it is a bare minimum requirement. Thankfully, the sophisticated algorithms of today are designed to cash in on every opportunity that comes your way. They can execute trades in less than 2 milliseconds, far faster than any average human can achieve. In fact, no human trader with years of experience and an eye for spotting patterns before they’re fully developed can execute trades at this clip. Load your account with the initial deposit required, lay down the criteria for the trade to go through, and leave the rest to the algorithm. Renowned for having the tech smarts to execute trades at a much shorter time duration, some trading applications are easily a cut above their traditional counterparts. They can easily execute more than a dozen different trades on a daily basis.

 

Demo Account and Backtesting

A demo account would be incredibly useful for beginners, allowing them to practice buying and selling cryptocurrencies without any degree of financial risk whatsoever. If you want to learn crypto trading for real, you’re better off starting with trading this way. Not every platform out there has demo trading or can give you access to one with volatility, liquidity and other aspects that make the market what it is, so make sure you pick one and learn the ropes of crypto trading. Remember, purchasing crypto currencies for real in a highly volatile market is not as easy as it appears to be. Chances are you could get carried away easily, commit a serious mistake and end up blowing your trading capital. Don’t let your emotions get in the way and affect your prospects in crypto; start paper trading with real time market data and get hands on experience before you dive into the real world of crypto. If you think you’ve enough experience with trading already, but you want to get better at the game of strategy, you could use the backtesting module available to back-test your strategy with historical data and see if they’re implementation-ready. Through backtesting, you can eliminate the throw-and-see- if- it- sticks approach and test it under different circumstances to see how effective it is. Remember, advanced trading platforms provide superior backtesting modules allowing you to optimize your strategy to an extent where your win rate improves significantly and overall profits multiply.

 

A Good Win Rate Guaranteed

After the trade has been initialized, the algorithm continues to monitor the price action so as to ensure the trade goes to plan and no other manual intervention is necessary. As a standard, anything over 85% is a good benchmark, but not all crypto trading platforms with raving reviews are able to meet that standard. Some come pretty close though, namely bitcoin bank which allows its users to put together a streak of wins, mostly more than 8 out of 10 times. That’s not surprising given it is 99.4% accurate in generating the right signals for a trade.

 

If you’re looking for a platform offering multiple bots, make sure you pick one that checks off most boxes in the below list if not all. Platforms with robust bots are going to become more popular and better over time. Invest time to understand both the upsides and downside of using a bot for trading crypto and you’ll be glad you did. Remember it’s never too late to get started in the world of crypto. Picking the right trading platform that matches your short-term needs and long-term goals is important to creating unimaginably huge wealth with your crypto assets.