Upbit Crypto Exchange Adds Price Alerts for Tokens

On April 25th, it was reported that Upbit, a cryptocurrency exchange, has added alerts for token prices, including price fluctuation alerts (such as rapid price fluctuations compared to the previous day’s closing price) and price difference alerts (if there is a difference of more than a certain percentage between the token and the CoinMarketCap standard price). The price difference alert will have a caution flag.

Upbit has added an alert flag for discrepancies between token prices and global market conditions

Cryptocurrency trading can be both exciting and nerve-wracking, especially for investors with a lot of skin in the game. In this fast-paced market, where prices can fluctuate rapidly and drastically, keeping track of the prices of various tokens can be complicated and time-consuming. Fortunately, crypto exchanges are continually looking for ways to make trading easier, and Upbit is no exception.

Upbit: A Brief Overview

Upbit is a cryptocurrency exchange headquartered in South Korea that was launched in 2017. It is one of the four largest exchanges in the country and has a significant presence in Southeast Asia. Its platform allows users to buy, sell, and trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Upbit’s New Price Alerts

On April 25th, 2021, Upbit announced that it would be adding two new types of alerts for token prices that would help investors keep track of price fluctuations and differences. These alerts are:

Price Fluctuation Alerts

Price fluctuation alerts notify investors when a token’s price experiences rapid and significant price changes compared to the previous day’s closing price. For example, if the price of a token increases by 20% or more within a few hours, investors will be notified of the change. This type of alert can help investors make informed decisions on when to buy, sell or hold their tokens.

Price Difference Alerts

Price difference alerts notify investors when there is a notable difference between the price of a token on Upbit and the price of the same token on CoinMarketCap, a website that tracks the prices of different cryptocurrencies. If the difference is over a certain percentage, investors will receive an alert. This type of alert can help investors avoid buying or selling tokens at prices that differ significantly from the market value.

The Caution Flag

While price difference alerts may be useful, Upbit has added an extra feature to alert investors to extreme price differences. Tokens that experience price differences beyond a specific percentage will have a caution flag. This alert is intended to warn investors to exercise caution and do their due diligence before investing.

Conclusion

Upbit’s new price alerts are a significant addition to the platform that will benefit investors by keeping them informed about price changes and differences. By providing a way to track token prices more efficiently, Upbit can help investors make informed decisions about buying, selling, or holding their tokens. As the crypto market continues to evolve, it’s essential to have reliable and accessible tools like these alerts to navigate the market safely.

FAQs

Q: Can investors customize Upbit’s price alerts?
A: Yes, investors can customize price alerts to their preference using the Upbit app.
Q: Will Upbit add alerts to other cryptocurrencies?
A: As of now, Upbit’s new alerts are only available for selected tokens. However, more cryptocurrencies may be added in the future.
Q: Is Upbit a reliable cryptocurrency exchange?
A: Yes, Upbit is a reputable and trustworthy crypto exchange with robust security measures in place to protect user’s assets.
#