Trading in cryptocurrency is done through dedicated cryptocurrency exchanges that operate 24×7. Thus, crypto traders may need to track the market prices of cryptocurrencies throughout the day. Moreover, cryptocurrency prices can be volatile, so traders may wish to watch out for new opportunities.
It is challenging for crypto traders to be active in front of their computers as there are a lot of important things to do. People who are involved in crypto trading may need to keep track of prices when they are away from their computers as well. Cryptocurrency applications can help them through this. Crypto traders may choose to use a cryptocurrency app to trade in cryptocurrency using their mobile devices, such as smartphones and tablets.
Crypto Exchange Platform Apps
Some cryptocurrency exchanges have their crypto app for smartphones and handheld devices. These exchanges themselves launch these cryptocurrency applications. Thus, they give cryptocurrency traders access to only the exchange that the app belongs to. These crypto exchange apps usually have most of the major functionalities of the website itself. These apps, however, may not have all the functions of the website.
Usually, no additional features are found in the app that isn’t there on the website. These apps serve as smartphone-friendly extensions of the website itself. Exchange platform apps may allow you to link bank accounts and buy cryptocurrencies using fiat money. Some crypto exchange apps may also allow you to link cryptocurrency wallets with it and then trade using the cryptocurrencies stored in those wallets.
Cryptocurrency wallets aren’t trading apps but serve as storehouses of cryptocurrencies. You can store the cryptocurrencies you have purchased in digital cryptocurrency wallets. Safety of such cryptocurrency wallets is a matter that depends on multiple factors.
You cannot directly buy or sell cryptocurrency using wallet apps unless the crypto exchange launches them. However, you may be able to link your crypto wallet app to a trading account with an exchange. Then you can trade using the cryptocurrency stored in the crypto wallet app. Crypto exchanges are set up to facilitate the exchange of cryptocurrency while crypt trading platforms integrate with these exchanges and provide additional services to potentially make crypto trading more convenient.
Traders may not want to keep cryptocurrency within the crypto exchange if they don’t intend to trade it soon. Hence, they can opt for storing cryptocurrency in wallet apps for as long as it suits their needs. Cryptocurrency wallets may have enhanced security features to keep the stored cryptocurrency safe.
Cryptocurrency News Apps
News apps can be essential for cryptocurrency trading since crypto exchanges operate 24×7. Thus, it can be important for traders to continuously stay updated with the truthful current news in the cryptocurrency world. Some cryptocurrency news portals may directly have their apps, which traders can use to view information from that particular news source.
Other cryptocurrency news apps may serve as news aggregators. These crypto news aggregators apps collate news pieces from various sources under the banner of a single application. Some news apps may also allow traders to customize their crypto news feed based on the topics and cryptocurrencies they take an interest in. Traders may use news apps to stay up to date with news related to cryptocurrency, and they may change their positions based on the information they read.
Crypto Price Trackers
Cryptocurrency price tracker apps allow traders to keep track of the current prevailing market prices. While these prices can be viewed on the exchanges themselves, crypto price trackers may give traders a more comprehensive overview. Price trackers may allow crypto traders to track prices across multiple exchanges as well simultaneously.
Traders may use cryptocurrency price tracker apps to track current market prices on handheld devices. Some price tracker apps also allow traders to customize their tracking feed and may even allow traders to choose the exchanges they want to track.
The Torex Cryptocurrency Trading App
The crypto apps mentioned above are designed to serve a distinct function for cryptocurrency traders. Torex is a cryptocurrency trading platform that offers multiple features to traders through its software offering. Torex is a trading platform that can integrate your accounts with various cryptocurrency exchanges into a single dashboard through API keys. Currently, Torex supports nine exchanges – Bittrex, KuCoin, Binance, Huobi, BKEX, Crex24, Poloniex, Coinsbit, and Bitfinex.
Torex can be useful even if you have accounts with multiple supported exchanges since it uses API keys to integrate with them. Thus, Torex allows you to trade across various exchanges using just one portal.
Torex considers to implement a news aggregator into its crypto app in the future. This news aggregator would collect news pieces from multiple sources and collate them for the trader. Torex has developed a Price Checker tool that allows a trader to fetch the prevailing market prices across supported by Torex exchanges at a given time. Hence, a trader need not use a separate tracking app to track the prevailing market price of cryptocurrencies. Traders can use the Price Checker tool to fetch prices and then, in case of necessity, decide at which exchange to place their trades. Thus, Torex is a multifunctional platform that can perform multiple tasks.
Additional Features Of Torex
Torex has a Price Notification tool that notifies a trader via the Telegram messenger app when the trigger condition is met. Crypto traders can set up their notifications by setting up triggers as per their personal preferences. A trader can be notified through this tool when their trigger condition is met. The Telegram messenger app needs to be active on a smartphone or a desktop to receive a notification from Torex.
Torex also has an Arbitrage Tool that helps traders find crypto arbitrage windows. Using the Arbitrage Tool, traders can select the exchanges across which they wish to look for crypto arbitrage opportunities. Traders can set the liquidity conditions and minimum percentage of price difference for crypto assets. The tool then searches for crypto arbitrage windows that match the criteria and, in case crypto arbitrage windows are found, provides information to traders. Traders need to take into consideration possible risks associated with crypto arbitrage trading.
The preliminary version of the Torex cryptocurrency trading app is already available on the Google Play Store. It is planned to be available in the Apple App Store as well. Using the Torex app, you can trade in cryptocurrency using your smartphone. You can open an account with Torex and try if the Torex app and the developed crypto trading tools suit your crypto trading demands.