Encrybit Cryptocurrency Exchange Evaluation Survey 2018 Global Analysis & Insights

Encrybit 2nd Survey Global Insights

Encrybit — an upcoming cryptocurrency exchange had recently conducted its second online survey on “Cryptocurrency Exchange Evaluation”.

The purpose of this survey was to deeply evaluate the advanced trading features of existing cryptocurrency exchanges and traders’ preferences regarding the same. The survey also intended to collect data based on traders’ background, so we can now about traders’ choices based on demographics.

We received 10,003 responses from 161 odd countries. From which 8705 were male traders and 1298 were female traders.

We’ve decided to publish the survey analysis in many segments like Global, Age group wise, County wise, Gender wise and Trader’s type. So, the result will be amazing keep updated with us at here. Let’s Starts with the global analysis!

The detailed analysis based on the responses received under different segments. (Global)

ANALYSIS BASED on AGE GROUP:

The participants were asked to choose their age group from the 5 given options.

Analysis Based on Age Groups

· 50% belonged to 25 to 34 Yrs

· 26% belonged to 15 to 24 Yrs

· 18% belonged to 35 to 44 Yrs

· 5% belonged to 45 to 54 Yrs

· 1% belonged to Above 54 Yrs

This clearly indicates that middle aged people are the most active in cryptocurrency trading. We can say that millennial take active participation compared to other age groups. Then is the generation Z, broadly known as youngsters.

They are still busy with their studies or building up their career, hence giving less attention to crypto. People aged above 35 falls third in the row pointing out less interest or lack of time for crypto. The aged retired people are the least active maybe due to less faith in crypto.


ANALYSIS BASED on COUNTRY:

County wise Analysis

· 23% were from United States of America (USA)

· 12% were from United Kingdom (UK)

· 7% were from Canada

· 6% were from Russian Federation

· 6% were from China

· 5% were from Korea, Republic of (South Korea)

· 3% were from Japan, Germany, Netherlands, and Australia each

· 2% were from Switzerland, Nigeria, Belarus and Portugal each

· 1% were from Ukraine, France, Belgium, Brazil, Turkey, Argentina, Italy, Venezuela, Egypt, India, Thailand, Iran.

· The rest 20% were from 135 other countries.

This analysis indicates that people of United States of America (USA) are active in cryptocurrency trading as compared to other countries.


ANALYSIS BASED on GENDER:

Analysis Based on Gender

· 87% were Male

· 13% were Female

This indicates that males are more active in cryptocurrency trading as compared to females.


ANALYSIS BASED on TRADER TYPE:

Analysis Based on Trader’s Type

There were four types of option given for the participants to choose from. Check out the analysis below:

· 35% are Position Trader Investor

· 27% are Day Trader

· 20% are Swing Trader

· 18% are Scalper

This indicates that crypto enthusiasts aren’t prone to take risks and play a safe position of position trader investor.

Now Let’s see the question wise analysis of survey based on feedback received.

Total 26 questions were there in the survey. All are MCQ type and about to cryptocurrency trading platforms (Features, experience, etc…)

Q1. Which Type of Cryptocurrency Exchange do you Trade on?

There are three types of exchange available in the market — Decentralized, Centralized and Hybrid Exchanges.

Let’s see which one is used the most:

Which Type of Cryptocurrency Exchange do you Trade on?

· 39% of the participants trade on Centralized exchange.

We know that some people are not keen on using CEXs (CEX = centralized exchange) since they associate those platforms, as concept, with well known entities like banks (for many, the enemies of decentralisation and authors of many financial crises); but not all the CEXs have to be considered like that, look at platforms like Binance and Huobi, they provide a great service when comes to liquidity and security, that’s why we see more than one third of the participants giving this answer.
The world is various and we accept the different choices coming with that. That’s why the Encrybit’s focus is to make an exchange, which can help those people who need a trusted party in order to have a more secure, relaxed and enjoyable trading experience.

· 35% of the participants trade on Decentralized exchange.

As we can see, more than one third of the participants declared that they’re using a DEX (decentralised exchange) like IDEX, Waves DEX, Ether Delta, etc. This solution is like a “double-edged sword”, since you have the positive side, as there isn’t a central entity that controls your funds or keeps the Private Key but on the other side those exchanges have often lack of liquidity and most of the times you have to pay the fee twice, as you have to send the funds from your wallet into the DEX (1º Fee) and then make the trade (2º Fee). We know that the Mt. Gox experience caused giant losses to many people, but this happened 4 years ago and since then, CEXs made big steps in matter of security and insurance policies regarding events like that (Exchange Hacks -> Loss of Funds -> Customer Refund by the Platform). Not everybody trusts themselves keeping Private Keys and we understand that, therefore, we respect the choice of relaying on CEXs for day to day trading activity.

·18% of the participants trade on Hybrid exchange.

The first Hybrid Cryptocurrency Exchange came along just in 2018, trying to give this sort of new generation exchange platform, which “should” take the best features from the CEXs and DEXs in order to make the trading experience fairer, also allowing easy auditing which can satisfy the government requirements. Still they are not used a lot by the traders, who prefer something more reliable and easy to use, without the risk of losing funds or get stuck in some platform bug; it’s still not sure how secure those exchanges are and which guarantees they provide to the traders. Up until now the CEXs are satisfying the trader’s expectations and that’s why Encrybit is pointing to make an all in one, filled with features, reliable and user-friendly cryptocurrency exchange platform…the best one ever seen!

· 8% of the participants have no idea about the type of exchange they trade on.

Even if just the 8% (800 participants), it’s still a considerable percentage of people that have no clue of the exchanges type they’re trading on, that’s unacceptable for the Encrybit’s team; the traders need proper information about where they’re trading, if it’s a DEX, CEX or an hybrid one! That’s why Encrybit trading platform will provide educational sections in order to give the proper knowledge; in the end a skilled and informed trader, is the one who has more chances to get profits and avoid losses due to lack of basic knowledge.

Q2. How Many Cryptocurrency Exchanges have you Signed up for?

As we claim that the present day exchanges are not sufficient to fulfill all the required functionalities and as a result the traders have to opt for more than one exchange.

It will be clear from the results below:

Number of Cryptocurrency Exchanges Traders Signed Up

· 57% of the participants use more than 3 exchanges to trade

· 18% of the participants use 1 exchange to trade

· 14% of the participants use 2 exchanges to trade

· 12% of the participants use 3 exchanges to trade

The statistic looks quite obvious, most of the traders have multiple accounts, and this happens because of trading pairs scarcity and low liquidity, therefore, traders have to sign up on several exchanges. This is a very annoying situation, making the trading experience a real nightmare sometimes! We know the hurdle of having 3, 4 or 5 usernames and passwords to remember and switching constantly between the different accounts in order to trade the favourite cryptocurrency, which in some cases is not yet listed on the exchange you trade on or won’t be listed because of the exchange policies.

Q3. According to you, Which Feature will Reduce Cryptocurrency Trading Difficulties for Beginners?

The participants were asked for which features to implement for reducing the trading difficulties. They were allowed to choose more than one option from the given.

View the insights below:

Features to Reduce Trading Difficulties

· 39% demand Social Trading

· 15% demand Educational Blog

· 15% demand Handy Expert Advice

· 10% demand Paper Trading

· The rest 21% have chosen the combination of the above mentioned options.

The majority of participants have chosen the social trading as most requested feature into the exchange platform; the social trading is a very useful tool if you want to have good profits but you’re not skilled enough, due to lack of experience, being a beginner in the trading environment. Social Trading feature is already available to the public, but it’s not there yet, it misses in simplicity and usability, most of the times you don’t even hold the cryptocurrencies you think you’re buying copying the trade, but *CFDs, which are totally another asset compered to the actual coin/token itself. Therefore, social trading needs to be taken aside, made better for the traders’ experience, revolutionised in that sense and then it will be the amazing feature traders’ are expecting to see and will definitely enjoy. The implementation of blockchain will provide transparency, automation and fair rewards mechanism, which seem to be another major concern in social trading systems nowadays. In all of that, Encrybit is trying to solve these issues, especially allowing you to copy other trades and actually hold of the cryptocurrencies you’re buying, not a contract or whatsoever.
* https://en.wikipedia.org/wiki/Contract_for_difference

Q4. Have you Ever Place your Trade Bases on Order book’s Potentials Position?

The participants were asked about to place their trader based on order book’s potential position or not.

Here is the result:

Trade bases on Order book’s Potentials Position — Yes or No?

· 70% opted for Yes

· 30% opted for No

The response to the question above shows that a detailed order book is very important for the trading experience; it allows you to get in the trade at the right moment and maximize the profits. The current order books are not detailed enough; they can be even confusing sometimes! Encrybit knows this and that’s why the team wants to implement a more detailed order book assigning specific colour ranges to easily identify the bunch of orders at a certain price level.

Q5. Would you Like to Get Alert on Sudden Increase and Decrease in Coin Price?

The partakes were asked whether they would like to get alert on sudden changes in the coin price via sms or email?

Here is their answer!

Would like to get alert on sudden changes in the coin price via SMS or Email?

· 90% opted for Yes

· 10% opted for No

This was pretty obvious as if anything wrong happens, an instant alert can make it possible to revert the situation or prevent it from worsening further. Encrybit is going to implement the alert feature and withdrawal on correct OTP and email verification along with option of whitelisted their IP.

Q6. Would you Like to Receive the Latest News and Updates about your Invested Coin on the Exchange?

The participants were asked whether they would like to have latest news and updates about the coins launched and the cryptocurrency market on their dashboard.

Let’s see what they answered.

Want to receive the Latest News and Updates about your Invested Coin on the Exchange?

· 91% said Yes

· 9% said No

Of course the answer was almost entirely a YES! Who doesn’t want a news section integrated into the exchange where they trade? Everybody!
Imagine having an all in one platform where you can get information about recent news, good or bad, so you can straight trade the cryptocurrency in question and get the advantage of being already there, ready to exploit the results of the those news. We all know that the market sentiment can shift quickly after bad or good news and that affects the price; why shouldn’t you be able to take advantage of that? Going on different news website could make you lose precious time, which ultimately could result in a late entry in a trade.

Q7. Detail Order Book helps you to Get Quick Position in the Cryptocurrency Market?

· 87% said Yes

· 13% said No

Again, an improved and enhanced order book in place and Encrybit will implement this based on the response and traders expectations.

Q8. Your Preferable Way to Trade is via …….

The participants were asked whether they would like to trade via website, desktop application or mobile.

The responses received were:

Which is your Preferable Way to Trade?

· 48% said Website

· 38% said Mobile App

· 14% said Desktop Application

Here we can see a sort of split between traders who trade on websites (48%) and who trade on the mobile app (38%); that’s a bit of surprise actually, since trading on the website via your laptop/desktop PC is much easier and gives you a bigger vision of the situation while trading, easing the usage of charts with their tools and switching between different pages/sheets if needed, but we follow what the community wants and that’s why Encrybit will provide also a mobile app, other that the website, in order to please both the groups.

Q9. Would like to have the Nominee Functionality on the Exchange?

The traders were asked whether they would like to have nominee functionality on the exchange or not.

The responses received were:

Nominee functionality on the exchange or not?

· 82% said Yes

· 18% said No

It’s very clear that traders want this new features. It is quite new concept to have nominee functionality on the trading platform, Encrybit will include this functionality as per the traders expectations to new generation exchanges after launching public version.

Q10. Do you Prefer to have Details about your Overall Profit/Loss on the Dashboard?

The survey had a question whether the traders like to have their overall profit/loss on the dashboard

and the responses received were:

Want Details about your Overall Profit/loss on the Dashboard?

· 91% said Yes

· 9% said No

The majority of participants have answered positively to have overall profit/loss reports and that’s understandable; every trader knows that, being informed about their trades through detailed reports on profits/losses, is very important in order to adjust their trading approach if required, in definitive how can you know if you’re trading correctly making good entries/exits if there aren’t any reports showing it? Through constant reports, a trader can have a broader view and improve their trading skills comparing the different results day by day.

Q11. According to you, Which is the Most Important Factor while Choosing a Cryptocurrency Exchange?

Encrybit framed this question to get an idea about which factor do the trader give more importance while choosing an exchange. The traders were allowed to choose more than factor from Security, Liquidity, Trading Fees, Customer support, Coin pairs availability and ease of use.

The responses received were:

What to consider while Choosing CryptoExchange?

· 47% said they would consider all the mentioned factors

· 9% said Security

· 7% said Liquidity

· 3% said Trading Fees

· 3% said Customer Support

· Coin Pairs Availability and Ease of Use both received 1% votes each from the participants.

As we can see the participants demand an improvement in all the characteristics cited above, that shows how the current exchanges still lack in things like security (9%) and liquidity (7%) for the big part; imagine to trade a cryptocurrency, which has so low liquidity that your buy/sell orders won’t get filled, that’s unacceptable! Costumer support is also a big concern for the traders, that’s why Encrybit points to provide a fast, competent, multi-language and well-structured costumer support service, in order to solve the trader’s issues in the quickest way possible.

Q12. Do you think Multiple Chart of Different Time span on Single Screen should be Available on Exchange?

On existing exchanges, you’ll have to open multiple tabs for viewing single chart on different time frames. This makes comparison difficult as the trader has to switch between tabs. We asked the traders whether they would like to have the feature in single tab for easy comparison

and the response received were:

Multiple Chart of Different Time span on Single Screen should be Available on Exchange?

· 71% said Yes

· 15% have no idea about the functionality

· 14% said No

First and foremost we need to look at the 15% of the participants who said “No idea”, that brings us again to think about how the traders are still not educated enough to the point that they have no clue about the advantage they could have with some features as the ones proposed by Encrybit; the traders community needs more educational material in order to have a clearer idea of what they need or what can give them more advantages in the trading experience. The 71% chose, understandably, “yes” as answer; having multiple charts on single screen with different time spans into the trading platform makes easier to find the signals, which could make you understand quicker and easier the best entry/exit, support/resistance, avoiding premature entries which could result ultimately in less advantageous trades, if not losing ones.

Q13. How you Manage your Risk while Entering in the Trade?

The participants were asked about how do they manage risk while cryptocurrency trading and were given 3 options with multiple selection. (Plan your trade before execution, calculating proper loss based on recent high & low,based on their account size and trading personality.)

Here is the response!

How Traders manage the risk while Trading?

· 45% checked all the 3 given options.

· 18% said they plan their trade before actual execution.

· 17% said they calculate proper stop loss bases of recent high and low.

· 8% said that on the basis of their account size and trading personality.

Most participants said they’re taking the proper countermeasures when trading cryptocurrencies and that’s very important, since a losing trader will probably leave the trading environment and never come back, we don’t want that! If you, trader, want to leave the space, has to be because you feel that trading is not for you and not because, for the lack of proper tools and educational/informative material, you ended up with losses. Planned trades and proper analysis before the actual execution are the main approaches you need to have before start a trade, if you don’t know how and where to start, Encrybit will provide you all the help you need and then, with a proper knowledge, you should decide if cryptocurrency trading is for you or not!

Q14. Have you Ever Trap in False Breakouts?

The traders were asked whether they have ever been trapped in false breakout.

We received the following responses:

Trap in False Breakouts — Yes or No?

· 62% said Yes

· 26% said No

· 12% had no idea

Let’s explain what a breakout is, since we still have traders who don’t know it; it’s when a support line/resistance line get passed/overtaken (breakout) signalling a possible reverse (price increase/decrease). The false breakout happens when there is this signal but it’s just for a short moment and then the price bounce back going in the opposite direction. If the trader doesn’t recognise a false breakout in time, being too emotional in the trade, it could result in massive losses, especially if you’re using leverages. Unfortunately as we see the answers given, many get trapped in false breakouts and that’s why we keep stressing on the fact that the traders need to be more educated and have the proper TA tools in order to avoid losses.

Q15. Is ‘Social Trading’ Feature Helpful for Cryptocurrency Market?

Social trading is a wonderful feature for both experienced and novice traders. We asked the participants whether they find it useful or not.

Let’s see what they said:

Is Social Trading is Helpful or not?

· 76% said Yes

· 14% were not aware of the social trading concept

· 10% said No

Social trading is one of the big implementations of the platform; we think it will help a lot, especially beginners or those who cannot spend a lot of time on the platform. In life it’s known that who’s more skilled and experienced, will always do better than beginners and unskilled/inexperienced people, that’s why Encrybit wants to provide this tool to the traders and keep them satisfied and engaged.

Q16. For Day Trading in Cryptocurrency, Have you Ever used Crypto Scanner?

Crypto scanner is an automatic analysis of the cryptocurrency market history to find best trading opportunities. The traders were asked whether they have used this feature while day trading.

What are their answers:

Have you ever used Crypto Scanner in Day Trading?

· 47% said Yes

· 43% said No

· 10% were not aware about the concept

The crypto scanner works by automatically analysing the market history for each available coin/token and that’s why Encrybit thinks it should be implemented in the platform; even if the answers were split almost equally between “yes” and “no”, we think that knowing these information make the trading choice much easier, without the need of going around the web on different third party platforms looking for the coin/token history and wasting time, which can be used trading the different coins/tokens. Remember that every instant lost, could be a lost profit!

Q17. Before Entering Crypto Market, Is the Use of Simulators or Paper Trading Useful?

The traders were asked about the usefulness of simulators or paper trading before they actually enter in the cryptocurrency market.

Here are the responses:

Is the Use of Simulators or Paper Trading Useful?

· 69% said Yes

· 31% said No

Another important feature prompted by Encrybit is the chance to do simulated trading without the use of real money, but still using the live markets data; this feature is rarely given by other platforms and that’s unacceptable. As we can see there is still a considerable portion of traders, which prefer to have this option into a trading platform, especially novice traders, who need this tool to try/experiment the cryptocurrency trading environment with simulations and virtual money before actually start trading with their own funds. Our objective is not to make money on the traders skin, making them escape after big losses; a happy trader is a more permanent trader in our opinion!

Q18. How do you Place a Stop Loss in the Cryptocurrency Market?

The traders were asked how they place stop loss in the cryptocurrency market among the given 3 options — Mental Stop loss, Absolute or No Stop Loss.

Here are the amazing answer:

How do you place a Stop Loss in the Cryptocurrency market?

· 55% opted for Absolute Stop loss once your market/limit order is executed

· 15% opted for Mental Stop loss

· 12% opted for No Stop loss

· 11% said they don’t know

As we can see the stop loss used is the absolute one, which executes the order once the limit is reached. This method, as the participants clearly expressed, is the most used one; since you don’t even need to be online in order to execute it, this way of executing orders, which is the opposite for the mental stop loss, is the most advised if you don’t have time to be on the terminal at any time during the day; also it can be very useful, since the price when close to support/resistance levels, can reverse very quickly so if you’re not fast enough, you can miss the chance to buy/sell at the best price. The current trading platforms are still lacking in something that should be fundamental for the traders’ experience, best TA tools and more detailed UI, that’s what is needed by the traders in order to minimizing losses and maximising profits. Here comes Encrybit with its features enriched trading platform, full of amazing TA tools, interactive and user friendly interface and high quality support when comes to solving any issue encountered by the traders.

Q19. Do you think that Risk Management is the only Key to Success in the Cryptocurrency Market?

There was a question which asked the traders whether proper risk management leads to success or not.

Answers are amazing!

Whether proper risk management leads to success or not?

· 71% said Yes

· 29% said No

Two thirds of the participants who answered to this question said that risk management is the only key to success in cryptocurrency trading; honestly and respectfully towards the survey participants we have to say that it’s not the only key to success in that, cryptocurrency trading and trading in general is much more than that, Analysis of Fundamentals, Technical Analysis and being updated on the cryptocurrency you’re trading are all absolutely important in order to have good profits while trading. As we know there so many pumps and dumps in the cryptocurrency space, therefore, if you’re not aware of that, if you have no idea of the project development, if you don’t keep yourself updated, you can get trapped and left with a bag of useless coins/tokens, which have no value!

Q20. Are you keeping a Log of your Everyday Trades in Paper or Excel?

We wanted to know whether the traders record their everyday trades in excel or a sheet of paper.

Here are the responses:

Keeping the Log of your Everyday Trades in Paper or Excel?

· 67% said Yes

· 33% said No

Keep a log of your trades is a very useful thing and it’s nice to see that many traders are using this methodology. Imagine you’re making many trades during the day every day for a year, that’s a lot of trades! Therefore having a log could result very useful to track all of them, make averages or whatever statistics you’d like to apply. That’s why Encrybit will provide a feature, which will allow you to export your everyday trade in a CSV file.

Q21. Is keeping yourself updated with the Latest News and Social Activities for Specific Coins helpful to you for getting Directional Trade?

The traders were asked to stay updated with the latest news and social activities for specific coin to get right direction to trader.

Here are the answers:

Want to stay updated with the Latest News and Social Activities for Specific Coins?

· 89% said Yes

· 11% said No

As we said in previous conclusions, there is more than one key to success in the trading environment; being informed about recent news and social activities is fundamental in order to choose the best coin or make the trade at the best time. Luckily the participants agreed with us and we will content them doing our best in order to implement a great news section satisfying even the more curious traders with the latest information about the coins/tokens listed on our platform and even more!

Q22. Real-time chat with Trader’s Community for Different Tokens and Coins are helpful for you to In and Out from the Existing Trades.

Encrybit asked the traders is the real-time chat for token/coin with trader’s community is helpful or not to take decision of In or Out?

Here are the responses:

Real-time chat with Trader’s Community for Different Tokens and Coins are helpful or not?

· 61% said Yes

· 30% said Maybe

· 9% said No

Apart the no answer to this question (9%), we see a good amount of participants answer positively and the remaining one third saying “maybe”.
Encrybit points to manage the chat groups but in later stages it will appoint a community of active and selected traders from the exchange’s users to moderate and create groups. Only a certain level of traders will get opportunity to manage a chat room.
Encrybit is planning to create token/coin specific chat groups to avoid confusion and difficulties reading the mixed content. Users in the chat groups will be able to share their thoughts in form of screenshots or texts.

Q23. Are you Aware of Multiple Market Stop Loss?

We were asked this question to know the awareness of multiple market stop loss in trader.

Let’s see the result:

Are you Aware of Multiple Market Stop Loss?

· 65% said Yes

· 35% said No

As we have seen there different kinds of Stop Losses and the Multiple Market Stop Loss can be a great option when comes to maximizing profits or marginalizing losses. This tool is used taking in consideration risks and rewards and is very helpful when a market moves suddenly, especially during your absence. Imagine you would like to take some profits on the cryptocurrency you have bought but also limit the losses if the price drops; with the Multiple Market Stop Loss you can do so, therefore, this instrument gives you the chance to adopt different strategies in regards of the unexpected market movements and its trend, making the trading much less stressing when you’re not able to be on the terminal at particular for longer than usual. Unfortunately not many exchanges provide this amazing tool and that’s why more than one third is not aware of it; Encrybit will obviate to that implementing it into its exchange platform, giving to the traders the chance to set Multiple Market Stop Losses and avoiding the necessity to be constantly on the terminal fearing possible and sudden market swings.

Q24. Have you ever Traded with Trailing Stop Loss?

There was a question which asked the traders whether they ever trade with the trailing stop loss or not.

Let’s see what they answered:

Have you ever Traded with Trailing Stop Loss?

· 54% said Yes

· 46% said No

The answers to this question were almost 50/50, showing a small propensity towards the “yes”. Synthetically, a trailing stop automatically shadows the price movement, following the coin/token rising price action. Over a period of time, the trailing stop will self-adjust, moving from minimizing losses to protecting profits as the price reaches new highs. Since a big part of the traders expressed the tendency to use this tool, Encrybit will give the opportunity to use it, making the trading experience more satisfying, allowing the traders to maximise their profits.

Q25. How do you Create your Position for Specific Coins/Tokens?

The traders were given 5 options with multiple selection. (Support/ Resistant, Trend Line, News. Chart Pattern Fundamentals).

Check their responses:

· 46% chose all the options

· 10% chose Support/Resistant

· 6% chose News

· 6% chose Trend line

· 5% chose Chart Pattern

· 2% chose Fundamentals

Accordingly to the answers given, 46% of the participants expressed that all the five “indicators” are equally important when comes to decide about taking a position in the market; we agree with that since, as mentioned before, there are many keys to success in a trade. The second most answered was the support/resistance of a coin/token and we also agree to that since those levels are taken in consideration by most of the traders in order to understand a possible price reverse or the start of a bull/bear run; same speech applies to the trend line.

Q26. Which Technical Indicator are you using Most of the Time?

We asked the traders regarding the choice of their technical indicators.

The answers are amazing:

Mostly Used Trading Indicators ..?

· 31% said Volume Chart

· 15% said SMA

· 13% said EMA

· 12% said Price Action

· 8% said RSI

· 7% said MACD

· 5% said Bollinger Bands

· 3% Said Pivot Points

· 3% Said ATR

· 2% Said ADX

The top three indicators chosen by the participants are:
- Volume Charts, which shows the volumes of the specific coin related to the chosen timeframe.
- SMA (Simple Moving Average) which line follows an simple average also related to the timeframe chosen, this indicator is used almost all the times by everyone who’s been in the trading environment for a while, since it gives an idea of the supports/resistances, especially in timeframes like the daily and weekly one.
- EMA (Exponential Moving Average) the speech is the same as for the SMA; the difference is that this indicator take in consideration more the recent prices rather than the old ones.
Those answers shown us that traders have the tendency to look at the volume chart as first sign of the price reverse/community sentiment about a coin/token and then look at the moving averages in order to consolidate the prediction, which usually is followed by the position making of the trader.
Obviously we will provide all these tools on our charts and not just them, our charts will provide an impressive amount of TA tools, which would be used by the traders without limitations.

Stay Updated…

We hope you all like the survey analysis and don’t miss any single segment insights. We’ll reveal other segment wise report one by one. Stay updated with Encrybit.

Current Activity…

Survey Winner announcement is also working parallel..We’ll complete announcement of 1300 winner names till 19th August and then from 20th to 14th August the position of winners will be revealed and then distribution of reward (BTC & XRP). Encrybit tokens will be distribute after ICO launch! Visit — https://bitcointalk.org/index.php?topic=4837693

Learn more details about the survey:

Survey timeline from start to end

1300 lucky winners announcement & Reward Distribution

UPCOMING…

Stay tuned at Telegram for any company news and announcements. Don’t Forget Seed investment, Bounty and Private Sale is coming soon. You can reach us at Encrybit or Telegram.