The greatest enemy of the trader is server downtime. Of course, human emotions like greed, fear and excitement are another real bankroll killer, but if you can’t access your platform, then the biggest emotion you will undoubtedly face is frustration.
In addition to regular trading platform downtime for maintenance that many traders deal with, they can also expect a whole lot more downtime caused by server instability. When Bitcoin goes on a bull-run, the whole world and his cousin tries to jump on board the bandwagon. You see a mass influx of new registrations, and as is often the case, this causes a fairly immature and unprepared confluence of exchanges to just crash.
Such was the case in 2017, when Bitcoin reached its initial highs. Such was also the case over the last several months as Bitcoin rampaged past its key resistance levels eventually crossing $58K.
Elon, Square, WallStreetBets and Microstrategy
The market saw hundreds of thousands of new traders joining crypto exchanges across the board. This sentiment was further enhanced by the likes of Elon Musk and the WallStreetBets army on Reddit talking up Bitcoin and Dogecoin among others. While all this was happening many institutions have been getting a taste of the crypto life by adding them to their funds and portfolios. With corporate firms like Microstrategy, holding over $14 billion worth of Bitcoin, which not only shows major confidence in this asset, but also has boosted their market cap up dramatically as a result, BTC frenzy has certainly been making the headlines.
One thing that is clear to those that have ever tried registering with crypto exchanges, is that the process is bumpy and painful. From the convoluted verification process, to having no one to speak to on the end of the line, to a general lack of real usability.
The solution to pain freecrypto trading?
One way to combat server downtime is by implementing limit orders into your trading. Stop Loss and Take Profit orders will ensure that even if your exchange or platform goes offline, your trade will be stopped out if the price falls too low. Alternatively, you can take some profit off the table if the price of the asset you are trading reaches a pre-set upper limit and your platform is not available to do it manually.
One company has sought to offer a solution to all of these obstacles. Atani is a Spain-based company that forms a bridge between the user and a huge selection of exchanges by offering traders one login to access over 20 exchanges. As this is an API that bridges the user to the exchanges, this is the last element to go down when exchanges crash, proving to be a much more reliable way to connect to the crypto markets.
Additionally, Atani allows users to compare exchange prices on one screen and to have access to a range of exchanges with one account. They give users the ability to view their balance in real-time via desktop or mobile app, as well as to receive trade alerts via SMS, phone and email. Users can perform technical analysis on 1,500+ cryptocurrencies and 9,000+ pairs with their in depth charting, and most importantly of all users can trade securely. Atani have no direct access to either your funds, your personal details or your API keys.
As the crypto field is maturing, one thing is clear, users are looking for a smoother, more fluid experience with the ability to reduce their trading costs as far as possible. It seems the industry players are becoming aware that now is the time to propel the industry forward and hopefully smooth out some of the bumps along the way.
Der Beitrag From downtime to KYC: How can crypto traders combat crypto exchange hurdles? erschien zuerst auf Crypto News Flash.