One of the most important thing for crypto investors to learn how to do is how to read a candlestick chart in crypto. Without knowing how to read a chart, it is impossible for investors to make educated guesses on the movement of a cryptocurrency. One of the most widely used style of charts is the candlestick chart. On this chart, movement is marked by shapes that are referred to as candles & wicks. By looking at a candlestick chart, investors can easily determine the pattern that a coin has been on.
Coinigy is a very interesting platform. Before we give you our Simply Coinigy Tutorial, let’s look at what it is.
While we are going to focus on using the platform for chart reading & analysis, the platform actually does a lot more. The site proclaims itself as a “trade smart, trade simple, and trade safe” experience. Coinigy allows you to access digital currency services spanning across several different networks. Coinigy supports about 45 different exchanges. On this site, you can consolidate all of your trading accounts into one platform while keeping all of your accounts encrypted & secure. You can place orders for several different exchanges and track them all in one place. You will be able to keep up with your balances, deposit funds, and do analysis.
While you will be able to access your funds via this platform, all of your actual balances are still contained on their own exchanges. Coinigy does not store your coins on its platform. According to the platform, this provides a safer experience for all of their users. One advantage to using Coinigy is that you can compare prices & charts from several different exchanges and several different coins all at one time. This allows cryptocurrency investors to be able to make smarter and more informed decisions on where to put their investments.
So is Coinigy Worth It?
Several big money & crypto news sites have reviewed Coinigy such as Forbes, Coin Desk, MekongMoney, & others. Most reviews on Coinigy have actually been quite positive. One thing that seems to be a universal thought regarding Coinigy is that it is a very convenient & useful trading platform. However, it just hasn’t seemed to get the traction that it probably deserves. This is partly due to the fact that because of how many things the platform does, it can be quite confusing. There is just so much happening on your screen.
While Coinigy is generally seen as safe & secure, many people question it because it has lag & database issues. Imagine making a great market trend discovery & preparing to make your trade… only to find out that the information you were working with is outdated. In the ever changing & evolving cryptocurrency world, the intense volatility of the markets mean that you must have the most current (up to the second) information in order to trade properly.
For our purposes at the Online Business Realm, we are going to be using Coinigy strictly for creating chart analysis. We can look a little harder at Coinigy to see if there are some other advantages to using it. However, the chart analysis tools on this site are amazing. You can totally customize your charts to show the information that you feel like you need. This will help you to make predictive trades based on trends.
We hope you have enjoyed this article and that you will watch our “Simple Coinigy Tutorial”. It revolves around becoming familiar with all of their great chart analysis tools!