In recent times, crypto traders have increased in their numbers. Frankly, reports suggest it might top the 2021 most rewarding job chart. And that’s no hype.
The capitalization of the entire cryptocurrency sector amounts to over two trillion dollars. This number will continue to increase as mass adoption kicks in. As tempting as it might be to jump into trading cryptocurrencies, it’s a risky business. It’s certainly not for those unwilling to take risks. Those caveats you see on major exchanges aren’t just there to add to the text. It gets crazy sometimes, unless you know what you are doing.
The words of Kenny Rogers hit single ‘The Gambler' is the gospel of crypto trading. You have to know what to throw in and when. Else the market takes you to the cleaners.
Where Does Alphr Comes in?
It’s hard knowing what to throw in and when. Even the best TA geeks can be wrong. But you know what’s never wrong? The money.
Following the money is the most likely route to a profitable trading experience. While this can be hard on centralized exchanges, Alphr makes it happen on decentralized exchanges. On Alphr, you get real-time feeds of cryptocurrency wallets of expert traders and whales. Their buying and selling power is often enough to shake
A lot of people don’t know that centralized exchanges rely on data collected from decentralized sources. This further reinforces the need for a platform like Alphr.
By using Alphr, you follow the actions not the words of the big traders. Remember most 'gurus' in the crypto trade tell you to buy when they are about to sell.
Automated Mirror Trading
You can’t always be online to monitor when they’re selling and buying. Thankfully, Alphr mirror pools can be created to handle your copy trading while you’re offline. This brings up the question of how safe this approach is?
The Alphr mirror pools work like your typical liquidity pools on yield farms. However, these funds are used to trade for all users based on their contributions. All you need to do is select the preferred wallet to be mirrored, and the Alphr platform handles the rest.
Currently, Alphr covers the biggest decentralized exchange on the Ethereum blockchain – Uniswap. So if you’re looking to copy trades on the DEX, you can do so seamlessly with Alphr.
More chains will be covered in the long-term. So if BSC, Polkadot, or Cardano are your preferred trading destination, you might want to keep your eyes peeled for that.
One of the reasons why trading on decentralized trading is unattractive to a lot of crypto traders is the gas fee.
Transacting on Uniswap requires having a substantial amount of ETH for gas fees. Thankfully, when you use Alphr, you don’t have to pay those alarming gas fees. The protocol handles trades in bulk, so users save a lot in gas fees. Wallet owners are humans, and no one is perfect. Their trading tactics can go wrong. With the Alphr risk score – which is based on a wallet’s trading history – it’s easier to tell what trader to follow.
Alphr works as a decentralized platform, and holders of the native token, ALPHR decide how the platform is governed. Besides the gains of governance, holders enjoy the sharing of transaction fees.
Conclusion
The road to becoming an alpha trader starts with Alphr. It’s easy, cost-effective, and swift. The caveat: humans are fallible. So no matter what you’re seeing on Alphr – risk scores, trade volume, and others – it can go up in smoke if you’re not managing your risks.
You may want to read up more on Alphr Finance by following their official websites below:
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