For cryptocurrency enthusiasts and high-frequency traders, the act of whale watching takes on a whole new dimension. In the often volatile crypto markets, ‘whales’ is the term used to describe holders of vast amounts of a digital asset, for example, hundreds of Bitcoins or many thousands of ETH, who are able to manipulate the markets in their favor.
WhalesTrader is a unique cryptocurrency trading platform that is designed to alert its users to potential whale movement and place trades before major shifts in the market.
Blokt caught up with Gray Spark, CEO, and founder of WhalesTrader, to find out why he’s so passionate about bringing his solution to everyday traders.
What is WhalesTrader?
Established in 2018 by Spark, WhalesTrader is a cryptocurrency trading platform which bestows greater power to the average digital asset trader. The platform, which invites its users to “start trading like a whale”, is primarily aimed at day traders who make frequent intra-day trades within the volatile cryptocurrency markets.
Explaining why WhalesTrader was built, Spark shared:
“WhalesTrader is all about giving the power back to the people, which we do through a multitude of tools. Whales are constantly manipulating the market with the help of top-notch AI algorithms and we want to put an end to it by leveling the playing field.”
Spark brings a wealth of expertise to WhalesTrader from his experience of being a trader, and also as an international speaker. Spark is also the founder of a successful investment fund, called Arabfolio.
Sharing what makes the WhalesTrader team perfect to deliver the platform, Spark says:
“Our team is comprised of talented developers with a keen interest in trading and we all strive towards the same goal of giving power back to your average trader. Most of us come from either a technical or marketing backgrounds, making for a good combination to deliver our vision. We do run a quite large investment fund so financially speaking we are whales, however, we understand how upsetting it is to know that the market is being manipulated and to be powerless against it, so we decided to give this platform to the community. ”
Spark continues to explain that at WhalesTrader, the team wants to share information with every trader, whereas all the typical whale wants to do is keep important information to themselves.
The WhalesTrader platform has been live for a while, in which time it’s made extremely good returns for its users, with even more features on the horizon.
What Makes WhalesTrader Different?
WhalesTrader has a unique value proposition for its users and likewise has many proprietary features which can’t be found elsewhere.
Integrated With Popular Exchange API’s
WhalesTrader is not a cryptocurrency exchange itself. Instead, the WhalesTrader platform operates as an extra layer which is used on top of an already existing exchange, with the purpose of helping traders make better-informed decisions.
Discussing this concept further, Spark explains:
“To draw an analogy and make a comparison to an exchange I would compare trading with riding a horse, whereas the exchange you use is the horse you use and WhalesTrader represents the saddle and all the other tools you use to make the ride easier.”
Essentially, WhalesTrader allows its users to trade smarter, by connecting exchange accounts including Binance, Poloniex, and HitBTC with the WhalesTrader platform. Although traders connect their API to the WhalesTrader platform, the API data is never stored in the cloud and is always in control of the user.
Unique Visualisations and Indicators
The WhalesTrader interface provides users with a number of unique trading visual data and indicators. These include ‘OrderFlow’, which visualizes the market in 3D to reveal supply and demand power, saving traders from entering losing trades.
Similarly, the ‘EscapeWhale’ feature generates sell signals for 1 to 5-minute time frames, as well as ‘LiteWhale’ for 30 to 60 minutes time frames, to let investors stay ahead of sudden market selloffs.
However, it’s WhaleTrader’s trading tools which really set it apart from the competition. Spark explains:
“Our best trading tool is definitely ‘BlackWhale’ and ‘BlackWhale NURAL’. The first provides signals on specified time frames on an asset of choice, letting users know exactly when a Whale enters or exits the market. As for BlackWhale NURAL, it scans each coin for previous pumps, screening for the price before it goes up to analyze the trading behavior and saving the acquired data points for a more comprehensive market flow understanding.”
Getting Started on WhalesTrader
Getting started on WhalesTrader is free, and requires just a few personal details. Likewise, WhalesTrader can be integrated with existing exchange accounts with minimal technical knowledge. To help traders get started, WhalesTrader has an extensive number of tutorials at their WhalesTrader Academy to teach new traders.
Discussing who can use WhalesTrader, Spark says:
“As for the level of experience, WhalesTrader can be used by anyone from newbie traders with zero experience, up to veteran traders who simply need another boost in their routine.”
Experienced traders may wish to purchase VIP Whale Membership, which includes a number of premier features including VolumeProfile analysis, advanced volume analysis, and a WhalesTrader desktop platform.
The Future at WhalesTrader
WhalesTrader has already attracted a strong user base, but where is it heading in the future? The WhalesTrader academy is being added to regularly, alongside a number of other resources to help traders of all levels improve their trading experience.
On other areas of development, Spark says:
“We will continue to add new features to our product, making it more comprehensive and even easier to use. After all, our vision for the future is for anyone to be able to trade in order to make money, regardless of their background or experience and we are very confident in WhalesTrader being able to accomplish just that. In addition to our trading tools, we have many more surprises in store, but that is to be announced in the future.”
Overall, WhalesTrader is an innovative platform with a noble cause, to bring fairness and level the playing field for traders of every size. Blokt would like to thank Gray Spark and the rest of the WhalesTrader team for sharing their expertise with us.