Wednesday, March 20, 2019

First Cryptocurrency Scanner Launched

Algory, a startup based in Poland has launched the first cryptocurrency scanner which allows traders to browse thousands of virtual currencies within seconds and in real time. The company in a press release on March 12 stated that Cryptoscanner, as the tool is called was developed by and for crypto traders.

CrytoScanner Developed to Allow Trading of Cryptocurrency

Per the press release, Cryptoscanner was developed with the aim to support the trading of cryptocurrencies. As such, the performance of these assets can be seen in real time. Users can also crawl information pertaining to cryptocurrencies and whose results can be filtered to meet their specifications.

That being the case, comparisons can be made for 1,215 cryptocurrencies in terms of technical analysis, volumes, candlesticks, and other metrics. Windows can be created to view the performance of these assets across 18 virtual currency exchanges. Also, traders can compare between 30 markets such as ETH, BTC etc.

Tool is Free, Requires Premium Account Registration

Algory has also revealed that the tool is free, however, people still will have to register a premium account in order to use the tool for a stipulated period. After the trial period, a subscription will have to be made to continue using the scanner. Likewise, payments will be carried out using ALG tokens, a cryptocurrency that was launched by the company in 2018.

Tomasz Przybycień, co-founder of Algory who made comments stated that the scanner is aimed at providing a faster method for traders to carry out analysis of the market. As such, they do not have to manually analyse and browse through events on the market.

Przybycień also said

With Cryptoscanner, within milliseconds they will receive information that interests them as part of their trading strategy

A Tool Specially Designed to Analyze the Market

Given the price volatility of Bitcoin and altcoins, a tool that is specially designed to give an analysis of the market situation is essential. At the moment, platforms like Trading View, Coinmarketcap, etc. are used by cryptocurrency enthusiasts to make informed decisions before purchasing or selling off their assets.

That aside, BTCNN on November 8 also informed of Nomura Research Institute (NRI), a Japanese Cybersecurity Group which had launched a Blockchain Security Monitoring Service. What the latter does, is to monitor and report the risks that may be encountered by processes that use the Ethereum Blockchain.

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