Alerts, as the name suggests, is used to get users notified when a particular condition is reached. That scenario can be of sudden increase/decrease in the price of a coin or check whether the price of any coin crossed any particular threshold or it can also be related to arbitrage. The basic purpose is to remove the necessity of continuously visiting the website and check for prices instead, you can put your focus on other things and as soon as the pre-defined condition is met, you will be notified about it.
Where will the user receive alerts?
Currently, users have the option to receive alerts either on telegram or browser (both mobile or desktop) or both and will automatically get notified of BTC price movement on email.
What are the features that support alerts?
We provide alert support for three features; One for Arbitrage, Second for sudden price movements (pump and dump), and the third one for cryptocurrency price.
Is initial Set-up required?
Yes, before setting the alerts you have to make changes to your profile. Please follow the steps mentioned below and only after completing those steps you will be able to set up alerts.
Step 1: Go to the profile section; there you will be able to see “Link Telegram Account” to receive alerts on telegram or “Enable Browser Notifications” to receive alerts on Browser(Mobile or Desktop). You can select both also to receive alerts at both places.
To enable alerts on telegram: Just click on “Link Telegram Account” and then a new screen will appear as shown below. Just click on send message option and you will be directed to telegram app or on browser telegram after that just click on the /start message as shown below and you will get a welcome message.
To enable alerts on a browser: Simply click on *“Enable Browser Notifications” *and a pop up saying Browser notification successfully enabled will appear on the right corner.
After completing the first step you will able to see the changes as shown in the image below.
Step 2: Below that, you will find options to get automated alerts generated by the KoinKnight algorithm as shown in the image below. In this, if our algorithm finds any kind of arbitrage or price movement in a coin that will definitely be beneficial for many users we send automated alerts. To receive these alerts for the type of arbitrage or price movement just select them and click on the submit button to save your preferences.
Now we have completed the initial setup to receive alerts.
How to Set-up different Alerts?
Go to the alerts section and click on “Create Alert” button you will be able to see the following options shown in the image below after clicking on it. We will help you in setting all the three alerts step by step.
Out of all the options having red color asterisk mark should necessarily be filled. As shown in the below image;
(i) You have to select the frequency having two options Once or Recurring. Once implies that the alert will be triggered only once and after that, it will be deleted. Recurring, on the other hand, implies that it will be triggered again and again, and as soon as it gets triggered it will be set inactive for a certain period of time, depending on your cooling period as 10 minutes set in the example.
(ii) Have to give the name to your alert, it can be of any size.
(iii) and (iv) These fields are not mandatory. If you want you can select any exchange in from or to or in both. Remember that only single select is allowed in it.
(v) Cooling period, this field is only required if you have selected recurring in frequency otherwise this field will be disabled. It is the time period for which your recurring alert becomes inactive after getting triggered. For example, if my below is triggered just now then even if there is an arbitrage greater than 7.5% available but no alert will be triggered for the next 10 minutes. After that, the alert will again become active and if there is an arbitrage of greater than 7.5 then the alert will be triggered.
(vi) Arbitrage percentage, this field is very important and mandatory too. Click on save and your arbitrage alert is set.
Note:
a) Every time your arbitrage alert is triggered you can find it under notification section available in profile for two days.
b) You can directly set an arbitrage alert by just clicking on bell icon available on all the arbitrages you see in Direct, Triangular, Loop and Intra-Exchange arbitrages.
Out of all the options having red color asterisk mark should necessarily be filled. As shown in the below image;
(i) As in arbitrage alert, select a name for it.
(ii) Select the exchange in which you want to track the prices.
(iii) Select the coin for which you want to track the prices.
(iv) Market, here you can select all the markets that are available in the exchange with an exception of selecting the fiat-currency also, even though if that fiat-currency is not supported for that exchange.
For better understanding please follow the example and see the image below, we want to track the price of XRP in Binance and we are worried that if the price goes below 25Rs in Binance then the user should get an alert. But we all know that Binance doesn’t support INR so what we basically do is take XRP/BTC pair price and convert it to INR and then compare, if that price is below 25 Rs then your alert will be triggered otherwise not. Same with USD, for people who have selected USD in their profile will get an option to select USD instead of INR.
(v) Direction, select whether you want to get alert if price crosses the threshold value and becomes higher or lower.
(vi) Select the threshold value for which you want to trigger the alert. After that click on save and your crypto price alert is set.
(i) Have to select frequency as we have already told you about it in Arbitrage alert.
(ii) Alert name so that you can easily recognize your alert.
(iii) Buy Coin, this field is not mandatory but recommended so that you have a better idea of which coin got the pump or dump.
(iv) Exchange, this field again is not mandatory and if the exchange is not important to you then you can leave it otherwise preferably fill the exchange where generally pump or dump occurs.
(v) Duration, there are 3 options available in it of 2, 5 and 10 min. Select as per your preferences.
(vi) Movement, again there are 3 options available of upward, downward and all. In upward we check whether there is a positive percentage change, while in downward we check whether there is a negative percentage change and for all, we just check whether there is a change or not irrespective of the fact that whether there is positive or negative change, the sign doesn’t matter.
(vii) Cooling Period, again explained in arbitrage alert. Only required if you have selected recurring in frequency.
(viii) Price Movement Percentage, the minimum percentage change at which you want your alert to be triggered.
In KoinKnight we have always given a lot of importance to alerts and have continuously encouraged our users to set alerts for their preferred conditions. At the same time our system also continuously search for particular conditions which can be beneficial to all and notify it automatically to all the users such as BTC price movement or, if strong arbitrage is available or, if strong upward/downward movement in any of the coins.
Do let us know in the comment section or by emailing us on [email protected] for any concerns.
