While many Crypto companies have shut down operations or laid off employees due to the bear market there are also new companies emerging that have something new to offer.
Many Crypto traders have either quit or are suffering losses in the largest Crypto bear market we have ever seen, professional traders need professional tools and data sources to make better decisions and ultimately increase profits. But the Crypto industry is not yet mature enough in terms of tools available or automation to be comparable to established markets like the Forex or the stock market.
One of such trading tools that is widely used in the traditional markets is placing bracket orders. Bracket Orders are designed to help limit your loss and lock in a profit by “bracketing” an order with two opposite-side orders. A BUY order is bracketed by a high-side sell limit order and a low-side sell stop order. A SELL order is bracketed by a high-side buy stop order and a low side buy limit order.
Koinfox is one of the only tools that allow traders to place bracket orders in exchange through their API. They launched the beta version of the product back in February and the Mainnet in March. They have managed to get over 25k users already in less than 25 days.
There is a clear demand for better tools among Crypto traders, especially with a bracket trading tool like Koinfox which enables traders to “set and forget”, when the target is reached the stop loss gets automatically updated and can also be trailed which is good if the price moves in the favorable direction.
Excited to cross 25000 users Benchmark in 25 days. It is even more motivating to see #BTC celebrating the event along with us by giving a rally of approx 20% around the same hours. Thank you all for your love & support. Be a Smart trader and #Tradesmartearnsmart on #Koinfox. pic.twitter.com/92BHjDJVTN
— Koinfox (@koinfox) April 2, 2019
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