Cryptocurrency trading has given a boost to white label crypto exchange over the years with its key players looking forward to making a profit from crypto exchanges and the opportunities arising from it. There are several trading strategies that traders have to understand, and more importantly the business has to consider in order to provide a fully-featured platform to traders. Out of all the trading features series that Espay-X will cover in its blog, this is the first one and we shall discuss about market order in the very first in this series.
Cryptocurrency Trading Strategies for White Label Crypto Exchange
In the current market, short term trading is the most popular approach. Forex and stock exchange markets have greatly employed this strategy and it has become popular amongst cryptocurrencies traders.
Short term trading involves short term movement of prices in the market. It involves opening and closing trading centers within one day. Short term trading strategies are best suited for cryptocurrency based on its fast-moving nature. Below are the most common short-term trading strategies;
- Daily Support- Short term trading strategies should entail deep analysis of the technical aspects present in cryptocurrency trade and its volatility. The aim of short-term trader’s ranges from small to medium profits while avoiding losses. They, therefore, should be very keen on analyzing the technicality of the market. It is therefore important to identify who offers the best deals and the most secure trading in the market. A crypto exchange development companyworks with exchanges to ensure that these traders get all the available prices so that they could meet their daily profits.
- Hammer pattern strategy- is founded on a hammer-like candle. It is mainly found in markets characterized by falling shares prices. The hammers shape indicates that the market is trying to make a short-term base for the crypto exchange. Whatever follows should be a strong indication ofthe pattern which the market is taking.
Market Order and White Label Crypto Exchange and Its Function
A cryptocurrency market order is an order that will swiftly buy and sell crypto coins at the prevailing cost. A market order aims to avail the orders at the current market price with the assurance that the order will be effective with no losses. However, it is necessary to trade with the market asking price that is subject to variations depending on the order book size. This feature is very necessary for the trader and white label crypto exchange software development has to take into factor this trading strategy.
How a Market Order White Label Crypto Exchange Works
By presenting a market order, the trader is accepting to buy the cryptocurrency at the price with which the seller is offering it at. This provision can work to the buyers’ favor or disadvantage depending on the situations at hand. Market orders are suitable for buyers and sellers willing to transact their businesses quickest possible and a crypto exchange software works in the backend to work for both parties. With a market order, it is easy to predict the market patterns and liquidate a risky occurrence thus preventing losses. The appropriateness of market order relies on how good the trader uses it. If traders estimate is inaccurate prompting liquidation, he ends up regretting.
There are various situations when one can use market order in cryptocurrency. They mainly revolve around getting in or pulling out of before something huge happens. Market orders apply when you have no much time but the losses or gains poised exceed the premium rates you will pay from your trade.
Other than filling in a specific amount in placing a market order, one selects market order and fills the amount they want to purchase and the remaining bit is done by the exchange. Before presenting the order, it is important to go through the order book and do a rough estimate of the costs. This helps avoid paying more than the intended depending on the liquidity.
Introduction of white label crypto exchange, a crypto exchange software, is an addition to this trade. Traders can quickly carry out their exchanges efficiently and anywhere in the world due to the availability of multicurrency.
When using a market order in a white label crypto exchange, it is not possible to cancel a market order once it is processed since it fills immediately. It is further impossible to buy back or sell the coins since you will be required to incur a loss or pay the premium charges.
Benefits of Crypto exchange, White Label Crypto Exchange and The Trader
Engaging in crypto exchange market comes along with a myriad of benefits, a lot more to the trader. The following are some of the benefits of crypto exchange.
- Gives access to real-time business transactions
- Allows full combination of present and former solutions for blockchain infrastructure
- There is increased operation speed even though the mode of transaction may be inferior to that of other systems.
- Efficient in financial tools applications as a crypto exchange software executes all the logic pertaining to your business.
With business being the order of the day in most regions, cryptocurrency has taken shape and found its base in the financial market. Engaging in this trade proves worth based on the little risks involved in it. With the inclusion of market order, it is now easier, quicker and cheap to trade in the crypto exchange. A trader can predict a market pattern and mitigate any risks poised thus reducing on losses.
Before entering into this trade, buyers and sellers should analyze the features of the cryptocurrency exchange. This will help a lot more in safety assurance and the extent to which the losses are likely to happen.
White label crypto exchange has aided this trade by providing an efficient way of transactions. It has further availed multiple currencies thus making it easy to transact globally.