May is a decisive month for the cryptocurrency trading market. Will XRP win its lawsuit and shoot up or will the SEC win and punish XRP? Will BTC lose its dominance to Ethereum. Will Litecoin and Bitcoin Cash keep moving with Ethereum as they have been doing? Will Ethereum Classic continues to explode or will it implode? Finally, how will Elon Musk's latest Dogeday work out for investors and the crypto space in general?
Being wrong about any of these questions can cost the beginner trader a lot of fiat currency and/or cryptocurrency. The best cryptocurrency exchanges want to get this question right so that they can have excellent Crypto exchange reviews.
To gain the best possible advantage and have some hope that Elon Musk will not eat your lunch, you need the most up-to-date business intelligence. An essential element of your source system for business intelligence should include database virtualization tools.
What is Database Virtualization?
Database virtualization is a data management tool, just like data analysis and business intelligence. Other tools, like ETL, extract raw data and big data from different data sources such as data lakes, data warehouses and data services for datasets, and put them all on one platform. Database virtualization goes one step beyond that.
Database virtualization creates a virtual environment. Then, it gathers raw data and big data from disparate data sources and integrates and fully aggregates the data so that the user can see the "big picture" and transform this data into actionable business intelligence. With this new business intelligence, the user can find the best option and make the best choice without having to focus on where the data came from.
Database Virtualization for the Crypto Markets
The cryptocurrency exchange that does not have database virtualization on its trading platform is definitely not the best cryptocurrency exchange. Of course, there are many other factors to consider when searching for the best cryptocurrency exchange: Low fees, ease of use, ease of withdrawals of fiat currency, margin trading, different payment methods, debit card access, data access, data movement and, of course, security features like private keys, digital wallets and cold storage solutions.
Of course, geography is an issue. New York requires a Bitlicense and Bitstamp for trading platforms to trade cryptocurrency with New York State residents. This eliminates Bittrex, Bitfinex, Binance, Gate.Io, Cex.Io, Kraken, Etoro, Kucoin, CoinMama and many other qualified trading platforms and Bitcoin exchanges. Cryptocurrency exchanges, Bitcoin exchanges, and trading platforms that can operate in New York include Coinbase, Coinbase Pro, Gemini, GDAX and Robinhood.
PayPal, while not a cryptocurrency exchange, Bitcoin exchange or trading platform, is allowed to trade cryptocurrencies in NYC. PayPal does not, however, not accept limit orders for its cryptocurrencies. Furthermore, the only cryptocurrencies that PayPal offers are the following: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).
Regardless of the many factors to consider when selecting the best crypto exchange, database virtualization should be considered an essential feature for any trader looking for the best option for the best choice regarding any number of crypto trades. Why? The whales have gotten bigger!
Whales Can Eat You
The world's richest man smokes weed on Joe Rogan and then wants to appear on SNL, all while pumping and dumping Dogecoin, an altcoin that was started as a joke and yet it still had one of the five biggest market caps in early May. Many would argue that Dogecoin has no use case and operates on the "greater fool" theory. Remember, half of all Dogecoin in existence is controlled by Elon Musk, Mark Cuban and about three other people. They can make Dogecoin plummet like a Chinese satellite any time they want. So what's a beginner trader to do?
Don't get your trading advice from SNL! Instead, look for the best option to make the best choice every time you trade cryptocurrencies or non-fungible tokens with real-time analytics. The best data integration solution needs the right data virtualization tool, which is, of course, database virtualization.
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