The Rise of Cryptocurrency and Its Effect on the Markets

CoinDesk is one of the more prominent and popular online brokerages out there. Their website claims that they enable traders to maximize their profits by providing “active traders” with “live advice” on “commingled markets”. What CoinDesk doesn’t tell you is that they are among the many brokers out there which have in the not-so-short-time made themselves exceedingly vulnerable to hacked trading information. And worse, many people lose money through their investments through such breaches – one loss could well be enough to sink some lesser-known competitors.


CoinDesk is a FREE tracking system to track all currencies in the marketplace. By linking to all exchanges that you have active trades on, you can easily manage your portfolio with minimal effort, or even manually enter all transactions that you’ve had. They also offer a premium service which sends notifications about new found trades, or about current good trading opportunities offered by other brokers. This makes for an excellent choice for day traders who might not otherwise be able to devote the time and attention needed to study numerous markets.

Another problem with some brokers like CoinDesk is that they often don’t update their client’s lists on a timely basis. If you’re trying to watch for changes in the value of a certain coin, but you haven’t actually traded it yet, you won’t know when you really need to act on it – hence, you might miss out on some profitable opportunities. This problem is compounded by the fact that a lot of the larger existing exchanges keep their coins listed on their own sites (i.e. they don’t have third-party websites).

This means that they don’t provide you with access to their own marketplace, and consequently their orders book is not updated automatically. So while their own coins are being traded, they have no idea what price the rest of the market is at, and consequently no way of knowing how to react when they do. This can create some very unpleasant conditions for people who want to get in on some of these investments, but don’t have the time to devote to learning how to read the charts.

As well as the above problems, some of the lesser known exchanges don’t offer their clients any assistance when it comes to educating them on the various coins and traders out there. For instance, one of the lesser known but still popular exchanges is Cryptovest Wealth Builder, which is run by Charles Baer. He does offer valuable information and tutorials on how to buy and trade in these cryptos, but he doesn’t go into detail enough to show you how you can best analyze the markets, either. If you want to get a real education in the world of digital currencies, then this is definitely a good place to start.

I mentioned smart contracts above, because the major weakness of many coins is that they use smart contracts as a way of protecting themselves from hacking. This is not an issue with most of the lesser known cryptic, but it’s important to note. The contract that you enter into with your broker is likely to be your most important piece of information. Without the proper tools to read the charts, you might miss out on profitable trades because you didn’t realize they were happening. With a little bit of research, anyone can get a fairly decent grasp on the world of cryptocoins.

Related Posts