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Products of 2019: What did crypto traders spend on? - #CryptoTrading

Hookers and blow? Could be. It weren't bags of shitcoins though, that's certain. -- Sharing some insight from tracked links on this blog, just like last year.
Blog  .  Published  · By KarlVonBahnhof

Products of 2019

Trading

The biggest change from the 2018 stats post is probably the cool-off of BitMEX affiliate earnings.

This comes quite as a surprise: The overall volume traded on BitMEX pretty much follows the price of Bitcoin. There were no crazy bubbles in either of the past two years, but the platform did make a decent traded volume in the summer of 2019. Could it be that gamblers with 300 USD worth of stash perhaps get convinced they are winning at life with every 5% uptick? Either way - the readers of this blog apparently did not follow.

https://coinpaprika.com/exchanges/bitmex/

On the other hand there was a noticeable shift to Bitfinex once again, ever since they re-opened their affiliate program for the main custodial trading platform. It is almost funny considering their notorious banking issues and the whole Tether thing, but the commission patterns suggest that some people are DCA’ing there.

Additionally, since the new affiliate platform on Bitfinex pays you out in the currency spent by the referred user, let me tell you that the activity has been predominantly fiat getting spent and shitcoins getting flipped. There has been next to no selling of top-tier cryptocurrencies from the readers of this blog.

Other crypto trading platforms

Near the end of the year there have been several new products added and while it will be for the next year to see how they do, there has been some interest into the 3commas DCA bot.

Stash Management

It is no surprise that one of the biggest product hits of the year 2019 was Ledger Nano X. A new product and on top of that offered in bulk packages on several different occasions during the whole year - usually in a discount combo with a Nano S.

A lot of people bought these bulk packs especially during Black Friday but by far not only then.

From competing products, Keepkey is pretty much forgotten while Trezor does have some user base but Ledger is still the winner here.

Hardware seed-phrase storage Billfodl (and Cryptosteel for the EU analog) have been linked from here only for a small part of the year but appear to pass for vanity products rather than something to rely on.

Technical Analysis

By far the biggest hit among AltcoinTrading.NET readers during all of 2019 were the subscription plans to the charting platform TradingView!

This is something that crypto traders have been buying a lot through the whole year, and the shift from entertainment and high-leverage trading to analysis comes as a change in comparison with the past.

One of the reasons of last year’s uptick could be that TradingView started accepting subscription payments in crypto early in 2019: While for the majority of shoppers in general implementing payments in crypto is in fact an unnecessary gimmick, for us who buy, sell and move cryptocurrencies on the daily it does make things easier. - Certainly easier than trying to log into your Paypal account from a third world country.

From the perspective of the crowd around this blog I think it is safe to say that TradingView PRO is the product of 2019.

Needless to say, the interest in the more advanced platform TensorCharts has been tiny compared to TradingView.

That may be sad for the founder but then again it is obvious that learning to use the orderbook heatmap and other TensorCharts features can still give you an edge, even though the product is a couple of years old already.

Let’s see what 2020 brings!

About the author

Written by KarlVonBahnhof

KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.

 

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