The cryptocurrency market is hard to keep up with. With thousands of altcoins circulating, it can be difficult to evaluate which ones are worth investing in, and it is even harder to follow their constant fluctuations. If this exponentially growing and ever-changing market can be disturbing even to experienced traders, it is natural for new investors to feel lost in this complex environment.
As the market grew into this crypto fever that we are now witnessing, several platforms that monitor the performance of different currencies have been created. It is not uncommon to see cryptocurrency investors constantly checking their phones for news on their favorite currency or token. But even though you can find a lot of the information condensed in the same space, it is still very overwhelming to assimilate it all and discern what is relevant and what isn’t. This is particularly true for someone who has no experience in trading.
The bot that does your homework
Well, fear not, for monitoring the crypto market has just been made a lot easier. CryptoPing, a bot that signals unusual actions on the market, has improved the services available for subscribers. Although it has been out there for a while, CryptoPing has now been enhanced in order to provide new data such as price/volume percentage increase. It also allows filtering assets by whitelists, blacklists, premine, and ICO or no ICO. CryptoPing also cross-references information from several currency trading platforms.
The new features also include signal reception delivered through an API, a system available only for subscribers who submit an API usage application. This allows downloading of a CSV that has your history into an account with the same data displayed in the dashboard.
The service also allows experienced traders to publish their trading insights so that new traders can follow their steps. The social trading system is only available to subscribers and allows users to become public traders, who are then ranked according to the performance of their signals.
Although CryptoPing is also available for free, non-subscribers are not able to follow other traders. Additionally, they only receive signals after all subscribers have received theirs, but users with free-tier accounts can now customize exchanges. For now, CryptoPing just cross references information from different trading platforms, but it is also developing the ability to analyse any news and social media posts. This unusual feature will help to predict alterations in prices even for assets which may not have been listed yet on any exchange platform.
Into auto-trading
The ultimate goal is for CryptoPing to evolve into an investing app. It will allow users to invest according to the filtered bot signals by adding users’ API keys, which will allow to trade directly through the app. Its second stage will feature an auto-trading option, designed to achieve “steady profits” for its users, as is specified in the company’s white paper.
Security is obviously an important issue when trading functionality is enabled. To guard against the possibility of accounts being hacked, CryptoPing servers will not hold any API keys. Instead, these keys will be stored on user’s devices.
The subscription is paid for in Ping, a token created specifically for this purpose, and it costs the Ping equivalent to $20. Ping is currently available on Tidex, YoBit and Waves DEX. From Dec. 20, 2017 until March 20, 2018 the company is offering the possibility of activating a free 30-day subscription for subscribers who maintain 100 PING in their account.
Inês Linhares Dias
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