Coinbase, one of the largest exchanges in the world, is announcing the launch of a new tool aimed to help entry-level crypto users to understand how to trade, using as an example the experience from seasoned traders. This new tool will be free for all Coinbase users and will consist of trading signals that are up-to-date, trusted, and filled with exclusive information that’s only available at Coinbase.
Coinbase is looking to attract a new crowd, offering a tool capable of helping beginners start trading independently and manage their own crypto strategy. According to the blog post:
Our goal is to provide accurate, objective measurements of cryptocurrency usage based on the aggregated and anonymized activity of millions of Coinbase customers. These insights are only available to customers signed in to Coinbase — and they are the first of their kind in crypto.
The announcement continues on explaining how this new tool will improve any existent market data available, providing a deeper understanding and comparison of cryptocurrencies and their communities in the market. Users will be able to know for how long the majority of the community is holding a specific asset and how many are doing so. The signals will be updated every 24 hours and will help others understand what the average of Coinbase users does.
Additionally, the tool will be able to feed information about how cryptocurrency prices have moved in relation to each other, meaning that users will get a hint on whether a specific crypto is more leaned towards moving in a certain direction. With the price correlation feature, users can get insightful information about the history of the asset and the potential risk it carries.
It is important to know that these trading signals and other market data provided by Coinbase do not guarantee that the market will do as it says, it is just a hint of what could happen if the same patterns are followed.