If you’re a tech-savvy individual, you’re no stranger to cryptocurrencies. The landscape of virtual currency has attracted millions of enthusiasts and novice crypto traders, and for a good reason. With the potential for enormous returns, it might be profitable for you; if you invest wisely. To keep up-to-date on the live prices of various digital currencies, staying updated real-time is crucial. This article will discuss the tools available for you to keep track of cryptocurrency prices in real-time.
Why Is It Important to Keep up to Date on Cryptocurrency Prices?
Cryptocurrency prices can change dramatically and frequently, bear no conventional economic principles, and are vulnerable to market forces. These factors mean you can literally make or break a portfolio in one fell swoop if you’re not careful. The difference between knowing when to buy and when to sell, even if it’s only a few cents off the current price, can equate to substantial losses or capital gains.
Moreover, if you’re on the observant lookout of the market and consistently gravitating towards making well-informed strategies, you’ll know the current levels of volatility. Knowing when it rises and falls can help you time it right to take advantage of market conditions. And that can have a big impact on the profitability of your investments.
Tools to Keep Up in Real-Time
Now, in November 2021, there are a plethora of tools at your disposal, no matter what you use, be it a PC, smartphone, or tablet. Most cryptocurrency applications, including almost all online wallets, offer real-time updates for the prices of various assets. Additionally, there’s a seemingly never-ending list of individual platforms that provide in-depth insight into how different coins move.
Among these, TradingView is one of the most popular and frequently utilized. This web site offers charts with real-time data on several of the most popular and obscure cryptocurrencies alike. You’ll get not only an accurate price of a cryptocurrency, but also you can see its change in market value over time, volume traded in 24 hours, the number of times it got traded, and information about the cryptocurrency itself.
CoinMarketCap also provides real-time data and charts for a wide array of cryptocurrencies. It organizes them by market capitalization, daily volume, historical data, and also publishes articles about recently listed cryptocurrencies, market trends, and other information.
Legitimacy of Real-Time Data Tools
Any good real-time data tool should be transparent with the data they get and display. They should take their data from all major exchanges, and also indicate which exchanges they track to avoid any accusations of data manipulation. This is important, as reports have been surfacing of several minor and regional exchanges not reporting accurate information. These exchanges are being accused of manipulating prices of individual cryptocurrencies, which could lead to people losing a significant amount of money when buying or selling.
In this respect, it’s imperative to perform your research, subscribe to a couple of legitimate news platforms, and to have a deep, thorough understanding of the cryptocurrency network, as that is the only way to determine the accuracy of the real-time data you get from any source.
Conclusion
It’s an understatement to say that real-time data on cryptocurrency prices is important. It’s an absolutely critical element of a good cryptocurrency trading strategy. To keep up on the latest prices for cryptocurrencies, many tools are available, including web sites and applications that provide accurate information in real time. However, it is also crucial to verify the accuracy of the information you receive, as many unscrupulous sources may exaggerate or even manipulate the data–leading to substantial losses. Researching legitimate sources and having a thorough understanding of the cryptocurrency market can go a long way in ensuring that your investments are as safe and profitable as possible.
Don’t let cryptocurrency make you overwhelmed or anxious. The best thing you can do is to stick to your researched decisions and keep an eye on the market so you get used to its uncertain nature. With proper tools and a good strategy, you will be successfully keeping up with the latest prices of the various cryptocurrencies–helping you to make informed, profitable investments in the digital asset space.