Investors that trade in the crypto markets are bold –– not only are the markets far more volatile than almost any other investment, but the market has thousands of altcoins that trade 24 hours a day, 7 days a week. Even more so than the stock market, cryptocurrency traders need tools to better navigate the markets in a profitable way. The Canadian-based cryptocurrency exchange CoinSmart realizes this, and it’s made a crucial feature that thousands of traders are using to gain an edge on the non-stop crypto markets.
If you’ve ever traded altcoins on an exchange, you probably have experienced problems converting your altcoins into other altcoins. Typically, one needs to sell their altcoins for Bitcoin then trade that Bitcoin for the altcoin they seek to invest in. Not only can this increase your tax burden, but it’s a timely process that can inhibit you from making a quick trade. CoinSmart’s SmartTrade lets crypto traders swap altcoins directly, so you can immediately enter positions using funds you’ve invested in other cryptocurrencies.
While CoinSmart emphasizes simplicity, the platform has options for advanced traders to use if they so desire. The exchange has an Advanced Trade feature, allowing you to set limit orders, stop losses, and chart assets in real time. You can test these features out today, and once you fund your account you’ll be able to earn a $20 sign-up bonus just for trying out the platform. If you already own cryptocurrency, you can fund your CoinSmart account by sending your crypto into CoinSmart’s crypto wallets, making getting started that much easier.
On balance, it’s crucial for cryptocurrency investors to leverage the tools available to them. The markets consist of thousands of altcoins that trade at all times, and with asset prices moving quickly, it’s key to execute trades in a timely manner. For more information on CoinSmart’s product offerings, check out our CoinSmart Review.