We’re releasing the ability to set price alerts for coins in your portfolio. Once the alert price has been crossed, users will receive a notification on their phone.
We are living through the birth of the cryptocurrency markets.
Because crypto is such a young market with often thin order books, high volatility, and 24 hour trading, being notified when prices move becomes extremely important.
We’re introducting Price Alerts to keep users on top of the latest price movments. This enables them to execute their trading strategy in real time.
Users can access the Alerts UI for a particular coin by clicking on the alerts icon in the top right of that coin’s Details screen.
Alerts for this coin will use the price from the exchange chosen in the “Price Data Source” field.
When an alert is created it automatically sets a “direction” based on your alert price and the current coin price.
For example, if the current price of bitcoin is $5,500, I can either set an alert price above or below that price. If I set an alert above, say at $6,000, the alert will be created as an ascending alert which will trigger if the bitcoin price ascends through the $6,000.
Alternatively, if I set an alert at $5,000, the alert will only trigger as the bitcoin price descends through it, from its current $5,500 price.
When you receive the notifications it will be immediately clear which direction the price is moving in.
In the near future we will add the ability to add “relative” price alerts, which will notify you when the price has increased or decreased a user-specified percentage of its current price.
This would alert you to the amount of volatility in the market, and for potential trading opportunities.
As always, more to come…