Whether you’re a novice or a professional crypto trader/investor, you’ve probably had the exasperating experience of toggling between multiple screens just to execute a trade or view prices across several exchanges to make a quick trading decision. Even worse – you may have also had to remember multiple login credentials and perform two-factor authentication (2FA) for every single exchange that you carried trade out on. If you’ve been in either of these situations, a multi-exchange trading platform could just be the answer to all your crypto trading needs.
What exactly is a multi-exchange trading platform you ask? A multi-exchange trading platform, just as its name suggests, is a single unified interface that allows traders to avoid the hassle of multiple logins and different interfaces, as well as constant tab changing, enabling them to view and gather a comprehensive and consolidated understanding of their balance holdings and trades.
How does a multi-exchange crypto trading platform work?
A multi-exchange trading platform slices through the complexity of fragmented data across multiple exchanges by generating API keys on your existing accounts in exchanges to offer a seamless trading experience. A trading API typically allows you to seamlessly plug into a trading exchange and execute directly on the exchange. It not only precludes the need for you to connect to multiple exchanges but also saves you the trouble of having to learn how each exchange’s interface works.
Well equipped with features such as data-driven analytics dashboards, live market real-time data charts, price alerts, news aggregators and the like, a multi-exchange trading platform aims to offer crypto traders a holistic and optimal crypto trading experience.
Features and benefits of a multi-exchange crypto trading platform
Here are some prominent features and benefits that are typical of a multi-exchange trading platform.
Unified dashboard for optimal trading:
While each crypto exchange demands a certain learning curve for a trader, imagine having to understand the UX and UI of each and every exchange to execute a simple transaction. By presenting a unified interface that displays the highest margins, lowest fees and best prices – a multi-exchange crypto trading platform offers traders a single virtual dashboard that seeks to unify liquidity and trading, facilitating a frictionless crypto trading experience.
Automated algorithms/trading bots for enhanced decision-making:
Most multi-exchange crypto trading platforms are extensively equipped with programmable automated algorithms such as TWAP, Ice scraper, Stop loss/profit take for traders to make evidence-based, data-driven decisions.
Data-rich portfolio views for simplified portfolio management:
Through interactive charts and rich visualizations of graphs, traders can identify uptrends and downtrends, as well as if the market is going sideways in order to make thoughtful analyses and manage their holdings efficiently. It also provides traders with a real-time bird’s eye view of balances, trades, and performance.
Arbitrage matrix to capitalize on price differences:
Given the potential of complex differences in supply and demand, arbitrage matrices are designed to enable traders to make use of price differences, and buy crypto tokens on one exchange at a lower price – and sell it on another exchange at a higher price.
Mirror trading to support new traders/investors on the block:
This feature is best suited for novices to learn and understand how trading works by letting them mimic the trading strategies of experienced and successful investors.
Smart order routing to find competitive pricing:
A streamlined algorithmic system that enables traders to execute and move their digital assets faster, smart order routing guides traders to optimize the best price for maximum returns by integrating seamless liquidity across several exchanges.
The bottom line
An intuitive interface that lets you view all your transactions across multiple exchanges in a unified manner, a multi-exchange crypto trading platform functions as a one-stop solution for all your crypto trading needs.
With security and stability at its core, a multi-exchange crypto trading platform is typically driven by a powerful API to carry out advanced trading functions such as enhanced liquidity, reduced slippage/losses, and real-time portfolio management. If you’re looking to build a crypto trading platform to leverage these benefits, reach out to our team today!
