If you trade in cryptocurrencies or track their pricing quite often, you might have subscribed to various sources to receive crypto alerts. Alerts and notifications via emails or messages serve a very useful purpose. Your mobile device will show the notification for a few seconds and you can choose to open and read the full message or mail or decide to check later.
With a dedicated mobile app, however, you can get timely alerts on your mobile. The significant part is that you can set the different parameters under which you wish to get notified by the app.
Prices of cryptocurrencies keep fluctuating wildly. If you are invested in cryptocurrencies or engage in trading regularly, getting alerts is critical for you to succeed in making some money in the highly volatile market.
What are the benefits of downloading and using a crypto alert app?
Instant Quotes from the Market
Globalization has meant that financial transactions are being conducted at some point in the world, every second of the day. If the cryptocurrency you are holding is quoting at a good price, you might want to be notified so that you can make a call to either hold on to it or to sell part of your holding.
Set the Parameters
Once you download the app to receive crypto alerts, you will have the option to select the conditions based on which the alerts may be triggered. The typical manner in which the currency traders operate is that they fix the price around which they would want to sell a particular crypto coin and set the alerts for a figure 5% lower to that price. This way, they can keep a closer watch once the alert is received. This can be illustrated through a hypothetical example.
Bitcoin (BTC) is quoting today at around the $7250 mark. Now you may think $8,000 would be a good price to offload some of your BTC holdings. You can set your crypto alert app to send you a notification when the price crosses $7,600. You can change this at any time.
The reverse can also be true. If the price trend is on the decline, you may want to sell your cryptocurrency before it falls below a specific price.
Flexibility to choose the currency
The above example is of Bitcoin. You may be interested in any of the other cryptocurrency units as well. Crypto alert apps will let you choose the currencies you want to set the alerts for.
Choose the way the alert is sent
Having chosen the desired currency and the conditions for the alert, you can choose the method in which the alert is delivered to you. Are you satisfied with the SMS messages delivered to your mobile phone? Would you want the information delivered by way of an email alert? These possibilities exist and you can fully use them. The assumption here is that you are busy with your other work or business and don’t have time to keep checking the cryptocurrency price movements. These alerts can only serve you this limited purpose of drawing your attention to the marketplace where the action is.
If it is one of the multimedia messaging apps you are comfortable with and wish to receive crypto alerts from, you may choose that. It could be Telegram or any other. Some people are happy with just push notifications and even that is feasible with the crypto alert apps. However, it is recommended to research and choose a trustworthy app like awara.io and make the best use of the services offered.
The Free and Premium Plans
The crypto alert apps follow the pattern of most apps you will come across. At the basic level, you can get the alerts for free. The services offered may be limited to sending a fixed number of alerts a month. The information may just include the price point and the market from where the quote is obtained.
The paid subscription for premium service will expand on these offerings. These can include an unlimited number of alerts, additional inputs like percentage change, trend indicators and so on.
Obviously, the decision lies with you to choose which one suits you. The monthly charges are generally quite nominal, probably less than $10.
The cryptocurrency market has seen a massive swing of the prices, particularly of Bitcoin. Keeping track of them and executing trades at the right time is aided through the crypto alert apps.