Investors trading in the crypto markets are daring – not only are the markets much more volatile than almost any other investment, but the market has thousands of altcoins trading 24/7 Even more than the stock market, cryptocurrency traders need tools to better navigate the markets profitably. Canadian-based cryptocurrency exchange CoinSmart realizes this, and it has become a crucial feature that thousands of traders are using to gain an edge in the non-stop crypto markets.
If you’ve ever traded altcoins on an exchange, you’ve probably had problems converting your altcoins to other altcoins. Typically, one should sell his altcoins for bitcoin and then exchange that bitcoin for the altcoin he is looking to invest in. Not only can this increase your tax burden, but it’s a timely process that can prevent you from making a quick trade. CoinSmart’s SmartTrade allows crypto traders to trade altcoins directly, so you can immediately enter positions using the funds you’ve invested in other cryptocurrencies.
While CoinSmart emphasizes simplicity, the platform offers options that advanced traders can use if they wish. The exchange has an advanced trading feature, allowing you to set limit orders, stop losses and plot assets in real time. You can test out these features today, and once you fund your account, you can earn a $20 signup bonus just for trying out the platform. If you already own cryptocurrency, you can fund your CoinSmart account by sending your crypto to CoinSmart’s crypto wallets, which makes getting started a lot easier.
Overall, it is crucial for cryptocurrency investors to take advantage of the tools at their disposal. Markets consist of thousands of altcoins trading at any given time, and with asset prices moving rapidly, executing trades in a timely manner is essential. For more information on CoinSmart’s product offerings, check out our CoinSmart review.