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Cryptocurrency trading is growing in popularity by the day. The exciting markets that oftentimes reveal tremendous volatility present serious risks, but also earning opportunities, attracting more and more people.
Data from the popular cryptocurrency market monitoring resource CoinMarketCap reveals that the 24-hour trading volume is above $110 billion.
As CryptoPotato recently reported, information from Google Trends revealed that the number of searches for the key phrase ‘buy crypto’ has increased to levels last seen in January 2018 during the peak of the ICO bubble.
All of this is indicative of the rapid growth of the cryptocurrency trading industry, which prompts the development of innovative services that facilitate users with engaging the markets.
GloCuT is a prime example.
What is GloCuT?
A London-based UK business holding secure server locations in Finland, Germany, and London, according to their official website.
GloCuT provides a rules-based trading platform, both online and as a business application, that’s capable of executing trades automatically with parameters for different metrics such as percentage price difference, time, fixed price, and so forth. The rules themselves can be prioritized to execute in the order the user wishes.
The way it works is unlike traditional cryptocurrency trading exchanges, and it would require some prior knowledge in the cryptocurrency or Forex markets.
There are a few steps to go through:
- Select and configure an exchange
- Put the rule-based strategies in place
- Let the system trade for you, following your rules
- Monitor your strategies, funds and automated trading
The platform offers a fully functional demo version where users can see and test the different features. Here’s how a standard rule-setting board looks like:
In this case, we’ve selected to buy bitcoin at a price equal to or greater than $10,390. The trading amount is at least $100, but no more than $1000, and the trading pair is BTC/EUR on Kraken. The sequence indicator is the priority, so “1” means that this is the first rule to be executed. If successful, no other rules are executed for the given exchange/currency pair combination until the next execution cycle.
Different Features of GloCuT Exchange
The platform comes with a few different features that users can take advantage of. These include:
Customizable Trading Strategies
As seen above, users are in full control and can customize their trading strategies as they see fit. There are various rule parameters that can be optimized according to their plan. Percentage type rules can have open exchange and currency criteria, or any combination thereof. For example, a user may wish to create a rule that covers all exchanges and all currency pairs that are BTC based.
Multiple Exchanges
The platform supports a myriad of leading exchanges such as Binance, Kraken, OKEx, Coinbase, and so forth that users can connect with using their exchange API keys.
FX and Cryptocurrency Trading
Besides crypto, the platform supports a lot of foreign exchange currencies on the configured exchanges.
The platform offers both free community and paid subscriptions to online users. To use the company’s services, individuals choose from a selection of plans with one, two, or multiple exchanges at a time.
This is also a convenient way to see arbitrage opportunities, shown as profits on the platform, between the different marketplaces and profit from the discrepancies between the assets’ prices across exchanges.
Another very important capability is the protection of crypto assets from sudden market price drops. This functionality is ingrained in the system to the point where every new subscription account contains a disabled sell rule, at the lowest priority, that protects all exchanges and currency pairs from a steep percentage drop.
As mentioned above, there is a free community subscription, which offers full platform functionality for one exchange. Community users can automate their trading with the various features of GloCuT and see how the setup automation works.
Conclusion
All in all, GloCuT seems like an interesting way to automate your trading. It supports a lot of different exchanges, both cryptocurrency and traditional.
However, it’s worth noting that this is undoubtedly a solution for advanced traders who are aware of market movements and various technicalities such as the type of orders to use, parameters to consider, and so forth.
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