Remember the article about the benefits of using our crypto trading terminal? There, we’ve discussed the definitive advantages of Superorder and general nice features of this tool for traders. Today we’re going to dive deeper to provide more fundamental knowledge on terminals, their functions, and differences. So, what’re you waiting for? Let’s go!
From the very first exchanges, ordinary people can trade thanks to brokers – agents who put buy and sell orders on behalf of their clients. People could access these markets by in-person communication with brokers or via phone calls by specifying order types, transaction amounts, and stocks’ names. However, with Internet emergence, users got a more convenient way to interact with exchanges. Yeah, we mean trading terminals.
Traditionally, they’re web-based interfaces or downloadable desktop/mobile clients through which traders can do the same things as through calls or meetings, i.e. to place orders and get actual info about deals. Moreover, almost any modern trading terminal also supports charts with various timeframes, historical data, tools for technical analysis including pattern recognition, and advanced strategies with backtesting and automation.
Long story short, terminals for stock exchanges can greatly enhance your experience and increase profits because of faster deals and more recent news.
Following ideas of old-fashioned exchanges, the crypto community has introduced own tools for trading. Modern crypto terminals have a few critical differences from traditional analogs because of the unique nature of the crypto market. First and foremost, it’s extremely big and volatile as there are 2,000+ assets traded on 200+ exchanges with 16,000+ coin pairs including crypto-crypto and crypto-fiat ones (CoinMarketCap, 20.08.2019).
This diversity makes it impossible to cover all potentially profitable deals using exchanges only. A lot of traders have accounts on 2-3 platforms with the highest volume to get access to big markets but the crypto community widely utilize terminals, as well. They also allow putting orders, analyzing charts, and transferring money but we love them because of the industry-specific features not available via interfaces for stock markets:
- Connection to multiple exchanges. You can trade on several platforms with hundreds of coin pairs using only one interface.
- Round-the-clock auto trading. Because the crypto community never sleeps, traders appreciate automated tools which handle their orders 24/7.
- Professional options. Usually, crypto exchanges support only basic orders like Buy, Sell or Stop Loss. With terminals, you can put advanced types like Trailings.
- Extensions. Some elaborate apps include more features besides trading itself. They help you to evaluate assets using portfolio trackers or keep in touch with markets thanks to push notifications or email alerts.
Still, developers can’t unite all existing exchanges and connect them to a single terminal because of different APIs used (REST, FIX, etc.) and a lot of computational power needed. But at the end of the day, a modern crypto terminal like Superorder provides for top-notch functionality, speed, and potential ROI.
Learn More About Superorder
So far as this article covers basic vision of crypto trading via terminals, you may be interested in more specific topics. For this, explore our crypto chat with all the essential info about Superorder. We suggest starting with a brief overview and then exploring the whole «Articles» section. Surely, don’t forget about the main product – a crypto trading terminal with a bunch of cool features. And feel free to ask any questions here or in other threads!