If you’ve ever used a smartphone, or have even just seen a commercial, then you’re probably familiar with the marketing term introduced a few years ago that became incredibly popular: There’s an app for that.
So, what if you need an app that will track the cryptocurrency market in real time on your iPhone without having to log into or access a complex network of trading sites? Finally we can say…Yes, there’s an app for that.
What is Coindex?
Coindex is a price tracker that is specifically designed for cryptocurrency. It is design for iOS and is free to download and use. However, it’s still in beta, so if you want access to it you will have to sign up via the Coindex website. Coindex currently track any and all altcoin assets that are listed on Poloniex or GDAX.
So, What is Cryptocurrency?
Cryptocurrency is a form of digital currency that is fully decentralized and does not belong to any one country or government. Because of this, it is tradable internationally with no more additional fees or restrictions than if you were trading with someone the next town over. It is also an extremely volatile form a currency, owing to its very recent invention. Because of this, it is very attractive to many traders and investors who are looking to use Bitcoin and other cryptocurrency trading and a way to make a profit.
These traders and investors need a reliable platform to keep track of movements in coin value in order to capitalize on a spike or drop in one currency or another. There are a variety of these platforms available online, and each one offers different features and benefits to suit the individual user’s taste. But what if you need to track your investments on the go, or you’re try to keep a close eye on an altcoin that you expect to change drastically in price at any moment? If you miss that moment to pounce, you may lose out on a big pay off. That’s why Coindex is such a promising new development.
The potential of what Coindex may have to offer is not easy to miss. If it works as intended, it will provide real time updates of at a glance metric for all of the most important cryptocurrencies on the market. You can see a view of not only the value fluctuations for each currency, but also how they correlate to each other…and you can do it all from anywhere on your iPhone or Tablet. This could be the next big step in continuous monitoring of a trade network that never goes down and never takes a day off.
Downsides To Coindex
Coindex is a fairly new development and there is very little information out right now about the platform. In fact, it is nearly impossible to learn anything of substance without signing up for the Beta and trying it out first hand. This lack of information sharing is a major marketing fail in our opinion, especially in a market like cryptocurrency that prides itself on transparency.
At a glance, you have to be curious just how extensive a market tool can be if it can be boiled down to fit onto an iOS application. This may be an unfounded worry, and it’s possible that Coindex can easily distribute every piece of data you could possibly need about the prices and market trends of various cryptocurrencies, but it’s also quite possible that you will end up with watered down surface information that it’s really enough to go on when making educated market decisions and formulating speculations of marketing trends. The only to to really find out is to get into the Beta and test it.
Coindex as an iOS app is still in its infancy. It hasn’t been released openly yet and you still have to sign up to request access to the Coindex Beta. In addition, the information openly available about the app is severely lacking, and at the time of posting this article is easily the longest bit of research covering the topic. Because of this, there is no real way to be sure about how the app will develop or whether it will deliver on the promised features and capabilities.
However, if Coindex provides the real time market information it claims to be offering once it launches fully, it will easily be the best pocket platform available for bitcoin and cryptocurrency traders and investors worldwide.