Page Summary
Trading all sorts of cryptocurrencies on different exchanges can be cumbersome. You can use a crypto scanner to make your trading sessions easier. A crypto scanner allows you to track the movement of cryptocurrencies across many exchanges. With some crypto scanners, you can even trade multiple markets at the same time. This is great for traders who wish to arbitrate the markets. In this article, we will tell you what the best crypto scanners in the UAE are and why we recommend them.
What is a crypto scanner?
A crypto scanner is a tool that helps you spot price movements of cryptocurrencies easier. A crypto scanner is also called a crypto signal provider. Traders and investors can use these signals to open favorable trades. This increases the chance of these trades becoming profitable. Most crypto scanners send users alerts or notifications about market movements so that users can act upon them.
Best crypto scanners in UAE
Crypto scanners are easy to use and allow you to make better trading decisions. We recommend our users the following crypto scanners:
TradingView – Best Charting Tool
TradingView is one of the world’s best charting tools. Beginners and seasoned traders and investors alike can use TradingView to share and view trading ideas. TradingView provides market data in real-time in your browser, without any download required.
You can use TradingView to check the latest cryptocurrency prices, analyze price patterns or draw on charts. TradingView is cloud-based and runs on the Pine Script programming language. This means that you can receive trading alerts on any kind of device. Bitcoin and other cryptocurrency data feeds are connected to the platform so that you never miss any news.
Crypto.com – Best All-round Crypto Scanner
Crypto.com is more than a cryptocurrency exchange. You can use their app to track hundreds of cryptocurrency price movements and trade them at the same time. Users can take part in crypto staking on Crypto.com. This means they can keep their crypto in interest-bearing accounts and get rewarded for doing so. At the moment these interest rates go as high as 14% per annum. Apart from the crypto staking possibilities, their fees are competitive and you will save money by trading with Crypto.com compared to other exchanges like CoinBase.
Altrady – The Most Beginner-friendly Crypto Scanner
Altrady is a comprehensive cryptocurrency trading platform that offers various trading tools. Altrady is easy to understand for beginners but also useful for advanced traders. What Altrady is trying to achieve with its platform is to make cryptocurrency trading as extensive as possible but at the same time as easy as possible for beginners to use. The exchange does this by providing various tools that can guide the user.
Altrady allows users to trade cryptocurrencies on different exchanges from the same screen. It is possible to trade via one platform in cryptocurrency pairs that are offered on other exchanges such as Binance or Huobi.
The user can add different accounts from different exchanges via Altrady so that everything is conveniently accessible via one platform. This way it is no longer necessary to have different tabs open to be able to trade. This also gives the user the opportunity to trade a wider range of crypto than he would have if he only traded on one exchange.
The platform also offers a way to keep an eye on the prices of various cryptocurrencies via its crypto scanner. It is vital for a trader to receive up-to-date price data and that he can respond to fluctuations within seconds. With Altrady traders can do exactly that. Altrady users receive price notifications to their liking on their desktop, tablet, or smartphone. Altrady has several subscription plans available that range from $17,64 per month to $53,04 per month. It is possible to try Altrady 14 days for free with its 14-day free trial subscription.
Cryptolume – The Best Crypto Scanner for Experienced Traders
Cryptolume is a crypto scanner aimed at professional traders. The tool allows these traders to view all cryptocurrency price movements from a bird’s eye perspective. Because everything is shown on a single page, traders save a lot of time by using this tool. Cryptolume generates 1,000 algorithmic alerts every 5 minutes over 8 exchanges. Traders can easily spot price differences and changes in volume because of this.
With the exchange volume analyzer, traders can analyze the volume of as many cryptocurrencies as they want. Then there is the sentiment analysis tool that traders can use to view the popularity of a particular crypto. Cryptolume sends alerts to desktop and mobile devices so that traders never miss the latest updates.
CryptoView – The Best Crypto Scanner for all Kinds of Data
CryptoView’s crypto scanner collects real-time data from the largest trading platforms. Traders are informed of the best trading opportunities based on volume, price, RSI variations, and order book data.
The RSI scanner scans all cryptocurrencies for signs of overbuys and oversells. Users can filter and sort these scans by exchange, period, and trading volume. It is possible for traders to download these scans in CSV format. Traders can connect these CSV files to trading bots to automate their trades.
CryptoAlerts – The Best Filtering Crypto Scanner
CryptoAlerts scans more than 50 cryptocurrency exchanges for opportunities. Users can then filter these to their liking on performance, price action, most active, volume sergers, technical indicators, etc. When you click on a filter, you will see detailed information about that crypto and where it trades at that time.
Users can set up alerts for all filters. They will then receive notifications when there are any changes. It is also possible to customize the alerts to only show up when oversold, a price target is met, and more. CryptoAlerts is free to use.
Token Metrics – Best Analytical Crypto Scanner
Traders can use Token Metrics to create a profitable crypto portfolio based on artificial intelligence. The tool produces indicators, rankings, and price predictions for over 6,000 cryptocurrencies and analyzes more than 70 data points per crypto.
Token Metrics is interesting for crypto traders who wish to automate their trading and use artificial intelligence to make better investment decisions. With Token Metrics, users can follow over 30 indices and see how they perform versus Bitcoin and other digital assets.
Differences Between Crypto Scanners and Crypto Screeners
Crypto scanners and crypto screeners are two different things. A crypto scanner is a tool that spots and tracks cryptocurrency activities on exchanges. It gathers information from certain crypto and sends out alerts to the user if certain conditions are met.
A crypto screener filters cryptos based on user-defined metrics. The goal of a crypto screener is to find the best trading opportunities. Traders can use both tools to make better investment decisions.
Pros and Cons of Crypto Scanners
Crypto scanners are handy tools to use when trading cryptocurrency but also have a few downsides. In the table below you can see what the pros and cons of crypto scanners are.
Pros
- Provide real-time price data and alerts
- Improve entry positions
- Minimize emotional trading
- Automate your trading
Cons
- Can be offline or stop working
- May be too difficult to use for beginners
- Cost money
- Can lose you money
How does a Crypto Scanner Work?
A crypto scanner scans crypto exchanges and markets for favorable trading opportunities. It does this by scanning crypto exchanges for volume, price, technical indicators, and more.
You can use a crypto scanner to:
– Identify which coins and tokens have the largest price and volume change in percentages.
– See which cryptos are overbought or oversold.
– See where certain patterns are occurring like MACD crossovers.
Traders use crypto scanners to save time and enter the markets at favorable moments.
Crypto Trade Alerts
Traders use crypto alerts to know when it is the right time to buy or sell crypto. Crypto trade alerts notify traders and investors about price changes, technical conditions, and economic results that impact the value of crypto.
Crypto trade alerts include:
– Price alerts notify you when certain crypto moves up or down by a given percentage.
– Technical indicator alerts notify traders when certain parameters or technical indicators are met.
– Economic result alerts alert traders when upcoming economic events or news will be published that can have an impact on cryptos.
Crypto Scanners – Our Verdict
Crypto scanners are nifty tools that traders can use to enter more favorable trades. They scan crypto exchanges and markets for opportunities and notify traders when these opportunities arise. Traders can save a lot of time and minimize emotional trading by using crypto scanners. If you value your time, we recommend using crypto scanners.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.