It’s not easy to trade cryptocurrency
With cryptocurrency adoption ramping up in enterprise and merchant applications, much of the focus has been about integrating the use of cryptocurrencies and blockchain within existing systems. Although you may now be able to shop on Overstock.com with Bitcoin or tip great articles with Steem token, the process by which we obtain access to these currencies is still shrouded by mystery.
It is increasingly difficult to manage the sheer number of coins needed for each service and function, such as needing Nano for instantaneous payments and Ethereum for using dApps. For cryptocurrency investors and traders, it is also much more difficult to manage a portfolio and conduct trades in the cryptocurrency space than it is for traditional assets such as stocks and forex.
There are a few primary roadblocks for user experience. Different coins and assets are located on different exchanges. So not only do traders and investors need to transfer BTC or USDT to different locations, they also need to become acquainted with the specific UI and quirks of each exchange. Advanced trading options on these exchanges are rarely that. It is tedious and difficult to set limit orders, stop-losses, or even a simple market buy order. It is also exceedingly hard to track your token balances on multiple wallets, exchanges, and platforms, making cryptocurrency trading and investing a headache to manage.
Fortunately, adoption-targeted initiatives are ramping up for the crypto-investor and trader. Apps like Delta and Blockfolio make it much easier to aggregate holdings in one easy-to-use platform, while trading dashboards such as BullCryp and Coinigy combine multiple exchanges into a coherent yet feature-rich trading experience.
While we focus on getting cryptocurrencies to the masses, let’s not forget about the forces that drive the price and value of the coins and tokens that we use. Good news is, recent developments and advancements in portfolio management and trading should make cryptocurrency management a much better place to be.
If you know of any tool to make crypto trading easier please let a comment below.
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