The digital asset market is still foreign to most of the population around the world. According to Statista, there are more than 4,000 digital assets at the start of this year, a severe increase from just a handful of digital coins in 2013. However, a large portion of these digital assets might not be that significant. Due to how open the creation process of a digital asset, it is relatively easy to make one. Indeed, it is believed that the top 20 digital assets make up nearly 90 percent of the total market.
In the digital asset market, we are starting to see a broader use case, which means that an increasing number of users utilize this type of asset. At the same time, the introduction of monitoring and notification tools has paved the way for potential gains when you combine them with digital assets.
One of the biggest doubts of people getting into the digital asset market is their security when investing in the said market. As new digital assets are being introduced, more and more people are curious about the benefits they offer. With proper tools, users can now have more trust to invest in these digital currencies.
How monitoring and notification tools help digital asset users
The most important and beneficial link between digital assets and monitoring tools is in the trading space. For traders to be successful, they need to get a clear, timely picture of what’s happening to the blockchain networks. They need to know any event that may affect the current value of an asset or if any whale movement is happening.
Thankfully, traders can follow these movements through blockchain monitoring and notification tools, which provide users with updates when any transaction or activity occurs, depending on the parameters one has set. By using these tools, traders can look for patterns that may help them support their trading strategies.
“Notifications are still a big challenge in the blockchain space, particularly in the digital asset market, as users are not notified when there are any movements made on wallets and other platforms. But with these new tools that allow digital asset users to be notified straight to their phones, anyone who has a blockchain wallet can now feel more secure with their asset as any deposit or withdrawal in their accounts will be sent to them in real-time. Because of this, we can see an increase in users as trust and security is becoming more evident in the digital asset space,” shares Tom Tirman, CEO of PARSIQ, a platform that provides automation solutions for individuals and businesses.
Growing investing portfolios with monitoring and notification tools
The digital asset market makes news headlines when they have big price swings. We have seen fluctuations that are unlike anything you see in the more conventional and traditional trading markets. You can see the value of digital assets soar one day, only for it to plummet shortly a week later.
Investing in digital currencies is riskier than other investment vehicles as volatility is much higher than average. The trick with investors is that they should try to stay ahead of the big dips and jump in before spiking. This is where monitoring and notification tools come in handy. These tools can help uncover tracking trends. By being the first to know about any significant events happening on-chain, users can have an idea of what the market will do, relying on past data to help predict what will happen in the future. Because of these, retail investors in the digital asset market can easily and quickly grow their portfolios.
There are many ways for digital asset users to benefit from monitoring and notifications tools while participating in the trading and investing market. While digital assets are beginning to be more mainstream than ever, there is an opportunity to use tools to help digital currencies and wallets reach the next level. As these new possibilities come up, the convergence of digital assets and monitoring and notification tools will reveal excellent opportunities in the future.
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