In the ten years of its existence, cryptocurrency trading has made tremendous strides in its evolution, often employing cutting-edge developments in trading software technology. These developments go hand-in-hand with the digital nature of cryptocurrency. With 2020 fast approaching, many crypto traders are searching for the next big thing in terms of trading software to get a leg up in the new year.
Though today’s selection of options is quite wide, there are a few companies that are pushing the bounds of cryptocurrency trading innovation, offering traders unique opportunities to maximize their trading experience. The five companies listed below are considered to be at the forefront of crypto trading software and are poised to see significant user adoption in the upcoming year.
This is a powerful new trading tool that lets hobbyist traders create automated strategies in a few clicks with its unique, “if-this-then-that”-logic visual editor. It is easy to fall in love with Coinrule’s simplicity, which is designed to protect against losses during a dip, catch an upcoming rally, take profits on multiple coins at once, smartly rebalance a portfolio, and quickly test correlation assumptions, all with rule setups that only take seconds to create.
Coinrule puts an end to poor user experience and data-heavy interfaces that dominate the crypto trading market. Their London-based team adds new trading features every month and is currently preparing to launch the world’s first crypto backtesting environment for retail investors. As far as portfolio automation tools go, Coinrule is one of the best options for crypto traders in 2020.
eToroX is the cryptocurrency exchange and wallet from the well-known social trading platform eToro. Launched in 2018, it is especially notable for its wide range of fiat-pegged stablecoins. Supporting a variety of fiat deposit and withdrawal options, popular coins like Bitcoin, EOS or Ethereum can be traded against the Swiss Franc, Canadian Dollar, Japanese Yen, South African Rand, or any one of many stablecoins on eToroX.
As a trading company, eToro has regularly stood at the forefront of innovation. By supporting a multitude of stablecoins, the company has allowed crypto trading to become more accessible to a wide range of users from around the world. For its advanced users, eToroX also provides some great charting and technical analysis tools built directly into its interface.
Blockchain.com, one of crypto’s best-known crypto wallet providers, recently launched its ultra-fast exchange, The Pit. This new breed of exchange is designed specifically for those who are tired of slow order executions on traditional exchanges. To build its exchange, Blockchain.com gathered an all-star team from the NYSE, TD Ameritrade, Google, and Goldman Sachs, to combine the very best in stock and equities trading technology with cryptocurrency.
Just like many leading financial firms, The Pit hosts its servers at Equinix LD4, one of the most reliable and lowest-latency data centers in the world. The speed which The Pit operates is measured in microseconds, as opposed to milliseconds. Never before has such fast trading execution been available for hobby traders, which makes The Pit a great option for those looking for a new exchange option in 2020.
Designed for those who are tired of looking at unreliable price and volume data providers (like CoinMarketCap), Messari emerged as a viable alternative in 2019, quickly rising to fame among the crypto trader community. Messari’s data is transparently sourced, using conservative but accurate calculations to generate their results. Their news has also developed a reputation as being insightful, and their analysis spot-on.
Messari recently raised $4 million in funding from some leading investors in the crypto space, including Coinbase Ventures. They are on a mission to build a data-based ‘credit rating agency’ for the cryptocurrency industry, and the progress of their developments will be closely followed by the community.
Leveraged trading was certainly one of the hottest topics in crypto trading in 2019. The excitement was kicked off by Kraken’s nine-figure acquisition of Crypto Facilities, an FCA regulated platform for crypto futures trading. Since then, the newly-renamed Kraken Futures has enjoyed a good deal of success and popularity.
Kraken Futures is considered not only the most transparent platform for leveraged trading but also pays out 30% of fees to traders who contribute to its liquidity pool. Kraken’s user-friendly approach of crediting any liquidated collateral from margin trades back to user accounts makes it one of the most interesting additions to the list of crypto trading options in 2020, as it is set to usher in a new form of margin trading.
From new portfolio management tools like Coinrule to new margin trading weapons like Kraken Futures, next year is set to be a revolutionary time in cryptocurrency trading. If fate has a new bull market in mind for the crypto markets, it will likely be ushered in by the newfound availability of these next-generation trading tools.