There is a new tool around that brings fresh air into the business of Crypto Tools. Cryptolume.co is data-fed dashboard with tons of visualized information and can provide some excellent insights and convenient overview for the advanced trader. Trading cryptos is different to trading FX due to the lower volume in general. This makes technical analysis, in general, a bit tougher and one is right to consider volume-based data before entering trades. Crypto is a young market, and therefore easy to manipulate. Volume and some indicators can give you hint if something is in the bush – Cryptolume.co can help with that. However, you should find your nerd glasses first!
Yeah, we got a bit fancy with the intro, right?
This is just a short note to our readers to stay careful when it comes to holding Tether ($USDT). With the recent news about the synthetic dollar, it becomes pretty dangerous to use it in stormy times. We also liked to use it to get out of our altcoins when bitcoin went wild or we suspected wild waters. However, we will refrain from doing that anymore in the future. There was always something fishy with the concept, of having basically an exchange (the team of Tether has quite a few matches with the one of Bitfinex) being able to print money out of thin air, but now it became even worse.
We recently wrote about Bitfinex in our high volume exchange article. There are now more concerning news in this debacle. Tether closed down to new users either, as they are about to build a new platform, due to the hack happened in November.
One thing you learn fast when you step into the altcoin game is that you will see yourself registering in multiple exchanges. Here a promising coin, there an excellent opportunity – but most likely you will find all those coins scattered on various exchanges. Ok – registering here and there is not a problem, but keeping the overview over all your wallets and running trades is a pain. Even more, the quality of the UX, the charts, and processes of these exchanges vary very much, and you have to find into each of them. Some provide essential or profound tools for technical analysis, some are not, and you can be happy to have candlestick charts at all. Coinigy is here to [...]