Managing multiple exchange accounts
With more than 300 cryptocurrency exchanges today, most traders have to manage multiple exchange accounts.
The need for more than one account usually rises because of the variety of offered crypto currency pairs, markets liquidity, having to diversify the risk of being hacked, as well as the different trading tools and terms each exchange offers.
Trading and keeping track of your portfolios on multiple exchanges is time consuming, inefficient and frustrating. Having to log on different platforms, use different interfaces, keeping track of multiple portfolios and all trading related activities become increasingly difficult with each new account.
It would be simple and easy if you could connect all those exchange accounts into a single multi-exchange platform which combines all the data in real time and provides a single interface to control all remote exchange accounts.
A multi-exchange platform allows the traders to connect all their exchange accounts into a single account through the user of API keys generated from the account of each exchange.
Once all accounts are connected into a single one, using the exchanges interfaces becomes obsolete. The unified account will now track and combine all portfolios and traders will be able to track prices, order statuses and other data across all exchange accounts from a single interface.
In addition, most multi-exchange platforms provide various information tools such as news aggregators, sentiment tools, arbitrage matrix and price alerts.
With regards to API keys security, these platforms do not require withdrawal or deposit permissions which limits the possibility of theft.
Finally, multi-exchange platforms do not typically charge additional trading fees and usually use a flat-fee membership of $20-$30 per month.
The current top platforms and apps
Currently there are a handful of multi-exchange platforms with a variety of services. They range from a simple crypto portfolio tracker to an advanced trading and portfolio management platform.
A detailed list of all major multi-exchange platforms and their features can be found here: www.AltXpert.com