As any seasoned crypto trader would know, analyzing charts is time-consuming and tedious. And as most beginners would agree, the technical analysis of the crypto market can be confusing at best.
Experienced traders need real-time notifications to make informed decisions, while beginners need assistance to make sense of the market while they are still learning how it works.
A crypto scanner or app is the obvious answer to this problem. It has the ability to gather data from multiple sources at once and collate it into useful information that helps traders know when is a good time to buy or sell. With this technology, traders never miss opportunities through being forced to manually search through charts, wasting time that is precious in the fast-moving crypto world.
So, how do you get started with this technology?
As technology races to keep pace with the development of cryptocurrency and the defi world in particular, developers have recognized the need for an alerts-based system to get market data quickly; email alerts are no longer sufficient. The emerging generation of tracker apps does away with manual scans of trading information and price data and most offer some form of price alert system.
But not all tracker apps are equal, and your choice of app will depend in part on your crypto activities. Dexfolio's tracker app offers industry-leading intelligent price alerts that bring meaningful data to the table.
But how does it work?
The explosion of growth on the Binance Smart Chain and the Ethereum blockchain has seen thousands of coins and exchanges spring up. It used to be simple to monitor coin price movements because Bitcoin had the market to itself and you couldn't do much with your cryptocurrency except trade it.
But the new generation of tracker apps take data from thousands of coins spread across hundreds of exchanges, something that would be impossible without the right technology. They conduct a fast technical analysis of the exchanges, checking for indicators such as relative strength (RSI), volume and price.
With a crypto tracker, traders can:
Clearly, this saves time and assists in making fast, informed decisions. But not all crypto trackers are the same, and choosing the right one that suits your needs will save you from using a tracker that has unnecessary features. There is usually a trade-off between simplicity and ease of use versus a feature-heavy product that may be slow or difficult to use.
Dexfolio's development team believes less is more, and in consultation with the community, has come up with a product that offers just what users need and nothing more.
Its flagship feature is intelligent price alerts, built with the mindset of minimum steps-to-action. In other words, this is a user-friendly app with a one-tap feature to access most of the important data. It is fast and simple to use with a minimalist approach.
When you connect a wallet with Dexfolio, you can choose to activate the Intelligent Alerts system.
The app then calculates the average price of each token in your wallet. This is the price you paid to buy the token on one of the compatible exchanges on the Binance Smart Chain, Ethereum blockchain, or the Polygon chain.
With the Intelligent Alerts system, you receive an alert when there is a significant change compared with the average price of your token. This means you get alerts as a percentage of the average rather than a specific value that may be irrelevant to the original purchase cost of the token. Alerts are intended to be relevant and only occur when changes meet the percentage threshold in either direction.
To be sure you haven't missed anything, you can check the alerts history page, where changes are shown against the average cost of each token. Each alert is recorded so you can monitor the history and movements of your investment.
This is in contrast to many of the current market offerings, which simply place a value on the token. When the value (in either direction) is reached, new alerts must be set every time. This is a tedious process that was begging for a solution, something the Dexfolio developers have addressed with the Intelligent Alerts system. It expresses changes as a percentage of the average price rather than setting a specific value for each token. Thus, alerts are more meaningful as they cover the original cost and price history of the coin or token.
Dexfolio users receive alerts based on real-time data that is fed through a smart aggregator to ensure that price data is up-to-date, reliable, and accurate.
Never miss an important crypto alert with Dexfolio's push notifications feature. This feature is particularly helpful for active traders who make decisions quickly and need the most reliable data.
Real-time, accurate information is crucial when a matter of seconds can mean the difference between a successful trade or a loss. Even beginners can benefit from this feature by receiving market alerts and learning on the go.
It's easy to get started with Dexfolio and receive notifications and real-time alerts. Once you have downloaded the app, you can easily connect a wallet (or unlimited wallets) and start receiving alerts. (You need to have an account on an exchange that's compatible with Ethereum, Binance Smart Chain or Polygon).
Dexfolio offers a fast, powerful option for receiving cryptocurrency alerts that even the most experienced traders will find useful.
In the fast-paced crypto world where there are now thousands of cryptocurrencies, a new generation of tracker apps is now available with crypto alerts built in. Traders no longer need to track data manually.
Each crypto alerts app offers different features, so it's best to choose one based on your trading activities. However, keep in mind that functionality often suffers with an overabundance of features, resulting in a product that may be complex to use or slow.
Dexfolio takes a minimalist approach with only the features users need, making it a fast and smooth user experience. Its intelligent alerts system makes it easy to receive notifications and alerts.
Whales are entities that are large enough to impact cryptocurrencies with a single transaction. Their activity is often fraudulent or intended to benefit themselves at the expense of other users.
Whether you need a whale alert crypto scanner will depend on the trading activities you undertake and if whale activity is likely to have an impact. It's possible to find a free tool to track whale activity.
You can subscribe to various Telegram crypto channels and receive notifications via the channel.