The best cryptocurrency platforms, the best option for trading
It’s no longer a secret that the best way to trade cryptocurrencies is using the crypto trading platform. Yes, in a sense, it is more interesting when you transfer real coins to your wallet, but still, the software allows you to make your work more comfortable and efficient.
Scheme of work
The software of all cryptocurrency exchanges is based on 5 main elements.
Thanks to it, crypto exchanges provide transactions. The core automatically generates user balances and order books, checks the security of transactions and changes records in the database (DB) when they are made, and also performs other important tasks.
Main and reserve wallets
To save the funds received from clients, trading platforms have crypto storage. To increase security, they usually transfer most of the exchange capital to cold wallets that are disconnected from the Internet.
Crypto exchange modules provide clients with various analytical tools and indicators. In addition, many sites allow you to connect trading robots and advisors via API.
Websites and mobile applications of large crypto platforms usually have not only tools for exchanging digital assets but also additional earning offers (staking, landing). In addition, the exchange interface may contain a training section, an NFT marketplace, and other pages.
Used by the creators of exchanges to manage the project. In particular, the administration carries out user verification, blocking fraudster accounts, and other actions to protect customers from intruders.
To date, there are not many trading platforms for cryptocurrency, while the most popular is MetaTrader 4 and 5 versions. A possible reason for this was that they are much more functional than their competitors and have more features. You can download both the desktop version and mobile versions of the program for free.
In addition, MetaTrader is used by almost all brokerage companies that provide access to the cryptocurrency market, so the choice in favor of this program is simply obvious.
But what about choosing the 4th or 5th version of the cryptocurrency platform?
As is already clear, MetaTrader 4 was the first to appear and it happened back in 2005, followed by various program updates. After 3 years in 2008, the 5th version of the MetaTrader was released, while it did not completely replace the previous version.
Both programs work in parallel to this day, in addition, full support is provided by the developer, and regular updates are released.
There are some differences
Assets are perhaps the most important point, there are many more of them in MetaTrader 5, including cryptocurrency pairs.
Third-party scripts – it so happened that by version 4 there are a lot more different scripts from third-party developers, including those for trading cryptocurrencies. It is easier to find the necessary indicator or adviser. Functionality – it is clear that the later version of the trading platform is also more functional, it has more indicators and analytics tools.
In addition, MetaTrader has an economic calendar to help you keep track of news, as well as a larger selection of pending order options.
In general, the differences are not so significant, but they are still there. It can be said that if you are just starting to trade cryptocurrencies on a trading platform, you better start with MetaTrader 4 as it is a bit easier. At the same time, if your cryptocurrency broker in MT4 does not have the necessary crypto-currency pair, you will have to immediately master MT5.
I am a writer/editor at Research Snipers RS-NEWS and it’s been 3 years working with the company. My specialties are technology and business.
1 thought on “The best cryptocurrency platforms, the best option for trading”
Comments are closed.