Little by little, the crypto community is gradually turning towards De-Fi exchanges for its trading needs. Surely, everyone knows this won’t happen at once. Yes, get ready to bid farewell to those annoying “When Binance” memes, just give it time.
The stiffening regulations on cryptocurrency trading exchanges will only push retail into the open hands of De-Fi protocols.
An unpalatable mix of security breaches, fear of the unknown, and erratic centralized exchange decisions have stoked the embers of distrust of retail traders for centralized exchanges. So it’s only a matter of time before the migration begins.
Beyond the convenience allure of trading cryptocurrencies on centralized exchanges, there’s the issue of picking winners. On centralized exchanges, you have to do it all.
While you cant follow the more prolific traders on big exchanges – which is an innovation they might never do due to privacy concerns – it’s doable on decentralized exchanges thanks to Alphr.
Alphr
As more people seek decentralized options in the crypto space, it’s expected that a greater number will embrace De-Fi products in the future. One of such products is decentralized trading.
A growing number of the crypto community are moving towards decentralized trading. Many expert traders are moving to decentralized exchanges to continue their mind-blowing winning days. Interestingly, you can tag along on such trades. And Alphr makes this happen.
The Alphr Magic
Though blockchain is transparent and immutable, tracking trades on decentralized exchanges isn’t as easy as using ‘CTRL + C’. It’s a lot more complex. Alphr does have its job cut out for it. There’s no magic wand to be waved here.
The De-Fi project uses multiple data sources to provide a ranking of wallets. That helps users of the data pick their choice from a catalog of De-Fi traders.
On the Alphr page, users can view the swap activities, assets held, and more of the wallet under review. All these data aren’t easily available despite the transparency and immutability of the blockchain.
Alphr collects such data from a variety of sources. The collated data is harmonized, processed, and made available to users for mirror trading opportunities.
The challenge with what Alphr is doing is tied to data quality. Wrong data can cost users significantly, which isn’t what the platform aims to a achieve. Unsurprisingly, Alphr screens data from its relevant sources before using them.
It’s also great to see that Alphr continuously adds to its data sources. This should increase the credibility of the finally uploaded data.
Price accuracy is everything in trading. In De-Fi trading, it’s more critical. Else arbitrage trading can result in heavy losses. Alphr has been working on ensuring the data of the current block is promptly made available to users.
Aside from its accurate data struggles, Alphr will be rewarding traders that mirror trade using the platform – without automating the process. These traders will get ALPHR tokens daily as long as they mirror-trade on Alphr.
The mirror trading isn’t the only way to earn on Alphr. You can get the platform’s native token every day as long as you mirror trade. There’s also the option of ETH farming. By providing liquidity on Alphr, you get to earn both ALPHR and ETH tokens. That’s a first in a De-Fi space that’s mostly known for offering rewards in native tokens.
Final Thoughts
Alphr can make De-Fi trading even more profitable on decentralized exchanges. It’s all down to having the right data, crowd and incentives. Alphr has two of these covered as the platform launches more incentives for traders and users. De-Fi trading is about to get interesting.
You may want to read up more on Alphr Finance by following their official websites below:
Website: alphr.finance
Medium: https://medium.com/alphr-finance
Twitter: https://twitter.com/AlphrFinance?s=09
Telegram: https://t.me/alphrfinance