Cryptowatch – everything you need to know
You may have heard of crypto software like Cryptowatch. Bitcoin keeps getting more prominent these days, so more people are getting into cryptocurrencies. In response, some investors use additional programs to gain an advantage.
We’ll briefly explain Cryptowatch for those who don’t know about it. Then, we’ll go through its features, pros, and cons. Cryptowatch is a great tool, but your investments mostly rely on your decisions and the crypto economy.
People often find ways to beat their competition, and Cryptowatch may give them that edge. The tool offers lots of information that could help you make wise investment decisions. Later, you’ll see why data doesn’t guarantee crypto gains.
What is Cryptowatch?
In 2014, Artur Sapek created the platform that tracks the crypto market in real-time. After 7 years, crypto exchange Kraken owns Cryptowatch. Sapek now works as its lead developer.
It provides market data from 28 cryptocurrency exchanges. You could study the information deeper with its detailed charts. Here are some of the platforms it covers:
- Coinbase Pro
- Kraken + Kraken Futures
Cryptowatch could give you so much information about the market. It allows portfolio tracking, price indicators, and other features. Here are some of them:
- It’s free! – You could use the basic features at no cost.
- Portfolio page – See how your coins are doing in real-time. Check if their prices going up or down.
- Trade with Cryptowatch – You may trade on several exchanges using this platform. Even better, you won’t have to pay extra!
- Trollbox – Chat with other users via instant message.
- Charting interface – See how the prices and market trends move as it happens.
- Price indicators – Study the charts using tools and hands. This could help day traders and futures traders.
- Liquid Bids – It shows how many buy orders are in line for a specific crypto coin. This lets investors gauge demand for that coin.
- Correlations page – Some coins affect the price of others. For example, Bitcoin drags most of the crypto market up or down when it moves.
- Security – Cryptowatch has reliable security and privacy. It’s one of the few platforms that haven’t encountered a significant security incident.
- Custom themes – You may change how your Cryptowatch looks. Change the colors for the background, chart lines, candlesticks, and other graphics.
Cryptowatch has additional paid features. It follows a credit system for payment, though. New users get 250 credits upon signing up. One credit costs $0.01. You get 100 credits for $1.
- Alerts (1 credit) – Get notifications on changes in price, volume, and other metrics. You get charged a credit for each sign.
- Rest API (2-15 credit) – You could link Cryptowatch with several platforms and check them in real-time.
- WebSocket API (120 credits per GB of bandwidth) – Shows real-time data on trades, order books, and other metrics.
- Zapier (15 credits) – Set conditions that cause Cryptowatch to do specific actions. For example, it could send an email once Litecoin hits a particular price.
Should you get Cryptowatch?
Cryptowatch is a nifty tool for scalp traders. They rely on brief price changes to earn quick profits. Once the price bumps even slightly, that’s their chance to sell their coin.
The service allows them to buy or sell coins at the right time. The alerts could help them find these moments for a profit much more accessible.
Futures traders may like Cryptowatch as well. They buy long or short-sell crypto assets. This allows them to earn no matter if a coin’s price drops or boosts.
This requires a great deal of analysis of the market. Cryptowatch could provide all the info they need, even those not found in other online services.
Its features might be too much for swing traders and position traders. The former sells within weeks, and the latter sells within months. They’re like the slower version of scalp traders.
The free price charts from the crypto exchanges are probably enough. Long-term traders could flick through them occasionally, then sell when needed.
If it’s your first time reading about these traders, Cryptowatch isn’t for you. Newbie investors will have a hard time making sense of so much information.
The program is much more suitable for experienced traders. Otherwise, it’s best to learn more about cryptocurrencies before using this platform.
It would help if you had more than online tools.
Success as a crypto investor is more than just fancy software. It takes hard work and patience to turn a profit from cryptocurrencies. Fortunately, everyone has a chance to win, even you!
Start by reading more about cryptos in general. Understand how blockchain technology works. Then, read more about the other cryptos or altcoins that came after Bitcoin.
Know why people are investing in the first place. Most people see it as a get-rich scheme. Yet, some investors believe that crypto assets could change how the world works.
It may enable the whole world to exchange goods and services without banks or governments. What’s more, it has so many other use-cases aside from finance.
More than a Transaction
For instance, the OXT coin powers a VPN with crypto. It allows people to use the internet without anyone else tracking them. The crypto improves privacy for its users.
Find the coins that may be helpful in the future. That’s a rule of thumb for most investors. They find the currencies that have the potential for growth, not just bitcoin.
Next, learn technical analysis. Understand how the price trends move. They often follow specific patterns. Platforms like Cryptowatch provide indicators to help users detect these movements.
This helps you flip coins for a profit quick enough for scalp trading. You still need it if you’re a long-term investor, though. It lets you see early if your coin is boosting or tanking.
Still, the crypto market is hard to predict, even for seasoned investors. It involves enormous price spikes and dips within seconds. Additional software may help lower risk but never get rid of it.
More importantly, accept that loss is part of any investment. Expect to lose a bit of money in cryptos. You’ll start earning after some trial-and-error. Only use funds you’re willing to let go!
Cryptowatch provides plenty of helpful information for investors. It gives real-time information that helps them make wise investment decisions.
As we said, having the best software doesn’t guarantee profits. You still need to understand how cryptos and price charts work. Otherwise, the extra data probably won’t help you!
The warnings aren’t meant to stop you, though. Cryptos are the future, so you should invest as soon as you can. Learn all you can, plan properly, and accept risk.
Learn more about Cryptowatch
Is Cryptowatch free?
You could use the platform for free. If you want the extra tools, you’ll need to pay. Each paid feature has different costs. Unless you’re a short-term investor, the free version is refined.
Is Cryptowatch safe?
Kraken owns Crypto Watch, and they take security and privacy seriously. They’re one of the few crypto platforms that haven’t experienced a significant security problem.
What are Cryptowatch credits?
The credits let you use Cryptowatch’s paid features. Each costs $0.01, so a dollar gets you 100 credits. These features allow you to see previous market data and get alerts.