While exchanges adequately offer traders the ability to buy and sell cryptocurrencies, there aren’t many services that allow you to execute transactions on a larger scale, sometimes with orders spanning several exchanges.
Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with Digital Trading Solutions and is not responsible for its products and/or services.
That is where Digital Trading Solutions, a New York-based company backed by Cross Coin Ventures comes in. Through there just launched public beta called Iceberg Trade, traders can use the platform to do algorithmic trading and supports automation of large trader orders of Bitcoin, Litecoin, and Ripple on multiple exchanges.
“Our trading tools are designed to automate large order execution and provide seamless trading experience for cryptocurrency market participants. The goal is to achieve the best execution price for a client by minimizing market impact and providing smart connectivity to multiple trading venues and liquidity pools” – Nikolai Potylitsine, CEO of Digital Trading Solutions
Currently the Iceberg beta trading platform currently supports automated trade order execution on exchanges with higher liquidity like Coinbase and OKCoin. All orders will be submitted through Iceberg Trade, giving you one easy location to control your next move.
“The beta version of Iceberg offers automated execution on Coinbase Exchange, OKCoin Intl., Bitstamp and Ripple trading platforms. Connectivity to other major cryptocurrency trading venues and smart order routing will be provided in the near future. Clients can submit orders to buy or sell Bitcoins (BTC), Litecoins (LTC) or Ripples (XRP) directly from the Iceberg Trade (https://exec.trade/iceberg) website.”
By using DTS Iceberg platform alone, traders will be able to improve performance by 5-7 percent simply by automation large scale orders, according to transaction cost analysis conducted by DTS.
The Iceberg platform is already being used in production from clients such as snapswap, which is a Ripple Gateway for the US. By automating their orders, snapswap will be able to keep a marginal edge versus traders and institutions conducting buys/sells by hand.
Besides Iceberg, DTS also plans to offer money management services as well as trading accounts to users of Icerbeg who want to be saved the trouble of opening a new wallet for each trading venue.
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