American cryptocurrency exchange Coinbase (NASDAQ: COIN) has introduced real-time price alerts for users of its mobile application. In a blog post announcing the new tool, the exchange said it believed it would greatly aid traders to make better trading decisions based on real-time information.
You can now track prices in real-time with the Coinbase app. Learn how to set up automated alerts for your favorite cryptocurrencies supported on Coinbase here: https://t.co/eZTKiyGbwB pic.twitter.com/J7duuTnur1
— Coinbase (@coinbase) June 20, 2019
The price alerts join a host of other tools offered by the exchange to assist its users to make informed trading decisions. They include the informational asset pages, a tool that helps new traders learn all about the top 50 cryptos by market cap in a precise and simple manner. The exchange also offers Coinbase Learn, a section that educates traders that are new to cryptos, answering their basic questions. It also offers curated news content on its app for traders from third party sources.
Tracking crypto prices can be a tedious process for crypto traders, requiring them to visit a number of websites to find the information they need, the exchange wrote. “Today we’re launching price alerts for all tradable assets on Coinbase, built to meet your need for smart, automated alerts about your crypto portfolio — no manual work required.”
The new feature will be automatically added once a user updates his Coinbase app and enables notifications. Users will receive price updates for the cryptos that are on their watch list. When the prices of these assets shift substantially up or down, the users receive alerts notifying them of the percentage change.
The exchange further promised to expand its price alerts product to include assets that are not yet tradable on its platform.
The exchange was responding to customer demands, a Coinbase representative revealed, stating:
“Customers asked for real-time price alerts natively in the Coinbase app to address the inconvenience of having to check multiple sources for crypto market information. Real-time price alerts available natively in the Coinbase app streamlines access to information that helps customers make more informed investment decisions.”
The exchange has been making moves aimed at cementing its position as the leading American crypto exchange. Last month, it acquired Xapo, a crypto custodian, beating Fidelity to the acquisition. The move sought to establish the exchange as the leading crypto custodian, a field that has become increasingly important, with its competitors Fidelity and BitGo stepping up their efforts as well in recent months.
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