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How-to Use Crypto Alerts Guide I Notum

By Notum

Aug 14, 20238 min read



Cryptocurrency has brought significant changes to the world of finance and has transformed the perception of money in general. However, with the advent of the 24/7 crypto market and the unstable behavior of coins and tokens, it is very important for users, investors, and developers to be aware of the ongoing changes. This is how crypto-alerts appeared - an indispensable tool in the arsenal of anyone who wants to confidently navigate the world of cryptos and keep track of the constantly occurring changes.

In this article from Notum, we will delve into the realm of crypto alerts and their implications for the crypto market. The crypto alert ecosystem serves as a lifeline for people watching for price swings that can make or break fortunes in minutes and breaking news that shapes market sentiment. Join us to explore the main types of crypto alerts and figure out how to set them up in order to constantly stay in the news.

What Is a Crypto Alert?

Crypto alerts are notifications or messages designed to provide users with real-time information about the crypto market. They are typically set up by traders, investors, or enthusiasts to stay updated on price fluctuations, market trends, news, and other relevant events related to cryptocurrencies. These alerts can be set up to trigger when certain conditions are met, such as when a specific crypto coin or token reaches a certain price level, a trading volume threshold is crossed, or when there's a significant change in market sentiment. Crypto alerts help individuals make informed decisions by allowing them to react quickly to market changes and capitalize on potential opportunities or mitigate risks. They can be delivered through various channels, including mobile apps, email, SMS, and dedicated alert platforms, ensuring that users stay connected to the dynamic world of cryptos even when they're not actively monitoring the markets.

To set up crypto alerts, users often need to select the cryptocurrencies they're interested in, specify the conditions that should trigger the alert, and choose their preferred communication method. Many cryptocurrency exchanges, trading platforms, and third-party apps offer alert services as part of their features, catering to both novice and experienced traders seeking to stay updated and make timely decisions in the volatile crypto market. “The whole point of crypto alerts is to receive rapid actionable notifications based on specific criteria, not a wall of useless notifications.” – Nansen.


What Is a Crypto Signal & Does It Differ From Crypto Alert?

A crypto signal and a crypto alert are both terms commonly used in the context of crypto trading and investment. However, most often these terms are confused with each other or considered synonymous, so it is worth understanding the difference between them.

A crypto signal is a recommendation or indication provided to traders or investors to guide their decisions about buying or selling cryptocurrencies. These signals are usually generated by analysts, traders, or automated trading systems based on technical analysis, market trends, and various indicators. Crypto signals often come with specific entry points (when to buy) and exit points (when to sell), along with potential stop-loss levels and take-profit targets. Traders use these signals as part of their trading strategies to make informed decisions about their trades.

Thus, the key difference between a crypto signal and a crypto alert lies in their nature and purpose. A signal is a more comprehensive recommendation with specific entry and exit points, whereas an alert is a notification that informs traders about a particular market condition without necessarily providing detailed trading instructions. Both signals and alerts are used by traders and investors to stay informed and make decisions in the dynamic and volatile cryptocurrency market.

Types of Crypto Alerts

Now there are several types of crypto alerts that traders, investors, and other users can set up to stay informed about market developments and take advantage of opportunities. Here are some common types of them:

  • Price Alerts. Price alerts are the most basic and widely used type of crypto alerts. Traders set specific price levels for cryptos, and when the market reaches those levels, an alert is triggered. These alerts can be set for both upward and downward price movements, helping traders stay informed about potential entry or exit points.
  • Volume Alerts. Volume alerts are triggered when the trading volume for a specific cryptocurrency crosses a predetermined threshold. High trading volume can indicate increased market activity and potential price movements. Volume alerts can help traders identify trends and assess market sentiment.
  • Percentage Change Alerts. These alerts are triggered when the price of a cryptocurrency changes within a specified time frame. Traders use percentage change alerts to identify rapid price movements or significant shifts in market conditions.
  • Moving Average Alerts. Traders often use moving averages that smooth out price data to identify trends and potential reversals. Moving average alerts are triggered when the price crosses a moving average line, indicating potential shifts in the trend.
  • RSI (Relative Strength Index) Alerts. RSI alerts notify traders when the RSI value of a cryptocurrency crosses certain overbought or oversold thresholds, helping them identify potential reversal points.
  • News and Event Alerts. Crypto markets can be highly influenced by news and events, such as regulatory announcements, partnerships, technological upgrades, and more. Traders can set up alerts to receive notifications when specific keywords or topics related to cryptocurrencies appear in news articles or social media.
  • Arbitrage Alerts. Arbitrage involves taking advantage of price differences for the same crypto on different exchanges. Traders can set up alerts to notify them when a significant price disparity exists between different exchanges, allowing them to potentially profit from arbitrage opportunities.
  • Market Cap Alerts. As you know, the total value of certain crypto in circulation is called market capitalization. Traders can set alerts to notify them when a cryptocurrency's market cap crosses a certain threshold, indicating potential shifts in its overall market position.
  • Portfolio Alerts. These alerts are related to users’ own cryptocurrency holdings. They can set alerts to notify them when the value of their portfolio reaches a certain level, helping them monitor investments and make informed decisions.


Why Use Crypto Alerts?

Using crypto alerts is a prudent and advantageous practice for anyone involved in crypto trading and investment. This market operates around the clock with high volatility, making it challenging to stay up to date. Crypto alerts offer a solution by providing real-time notifications about market movements, enabling traders and investors to seize opportunities, manage risks, and make informed decisions even when they're not actively monitoring changes. These alerts serve as a valuable safety net against price breakouts, trend reversals, and other critical market events, ultimately contributing to more strategic and disciplined trading approaches.

Furthermore, crypto alerts foster efficient portfolio management and risk reduction. Traders can set up alerts for specific price levels, technical indicators, or news events, adapting them to their individual strategies and goals. This customization ensures that alerts align with the trader's desired market exposure and risk tolerance. By automating parts of their strategy execution through alerts, traders can reduce emotional decision-making and maintain consistency in their actions. Overall, using crypto alerts empowers traders and investors with timely insights, reduces stress, and enhances their ability to navigate the complicated and fast-paced cryptocurrency market.


How to Set Crypto Alerts Up?

Setting up crypto alerts involves a few simple steps, depending on the platform or service you're using. Here's a general guide on how to set up crypto alerts:

  1. Choose a Platform. Select a reliable crypto exchange, trading platform, or dedicated crypto alert service that offers the types of alerts you're interested in. If you're not already registered, sign up for an account on the chosen platform and provide the information about you so to complete verification steps.
  2. Select Alert Type. Once you're logged in, navigate to the section of the platform that allows you to set up alerts. Check your account settings, trading dashboard, or dedicated alerts tab. After, choose the type of alert you want to set up. Common types include price alerts, volume alerts, moving average alerts, and news alerts.
  3. Configure Parameters. Specify the parameters for your alert. For price alerts, enter the target price level. For other types of alerts, define the conditions that should trigger the alert, such as volume thresholds or technical indicator values.
  4. Choose the Notification Method. Decide how you want to receive the alert notifications. Most platforms offer options like email, SMS, mobile app notifications, or even push notifications to your browser. Moreover, some platforms allow you to test the alert before activating it to ensure it's working correctly.
  5. Set Alerts and Activate Them. Depending on your trading strategy and preferences, you might want to set up multiple alerts for different cryptocurrencies, indicators, or price levels. Once you're satisfied with the alert settings, activate it to start receiving notifications.

After all these steps are done, regularly monitor your alerts and adjust them as needed. Market conditions can change, and you might need to update your alerts to reflect your evolving trading strategy. Moreover, remember that different platforms might have slightly different processes for setting up alerts. Additionally, be cautious about sharing information while setting up alerts, and only use trusted and reputable platforms to avoid potential scams.

Closing Thoughts

Crypto alerts have emerged as an indispensable tool for both novice and experienced investors, offering real-time insights and notifications that empower users to make informed decisions in this volatile market. These alerts serve as a bridge between the crypto world and the investors' desire for timely, actionable information. The effectiveness of crypto alerts lies not only in their ability to monitor price fluctuations but also in their capacity to track market news, security breaches, and regulatory developments.

However, it's essential to recognize that while crypto alerts can mitigate risks, they cannot eliminate them entirely. The crypto market remains highly unpredictable, subject to sudden shifts driven by a range of factors. Therefore, users must be cautious with their investment strategies, using alerts only as a way to inform them about changes in the crypto world.

Disclaimer: Notum does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Cryptocurrency is subject to market risk. Please do your own research and trade with caution.