If you’d like to perform trades while on the go or you don’t have access to your laptop during most of the day but would still like to keep an eye on the markets and make trades from time to time, then you need to pick a phone that will allow you to make trades smoothly and reliably.
If you pick the wrong phone, you might have difficulty running trading applications and coordinating different resources. You could also end up losing a lot of money because of delays or mistakes. Let’s take a look at some of the things you need to consider when looking for a phone for trading cryptocurrency.
However, trading on mobile applications sometimes causes trouble. The smaller screen size of a mobile can of course be cause prevent you to study and analyze complex charts and data. Many trading application developers offer fewer features than their desktop versions. Additionally, trading on a mobile device may not be as secure as trading on a computer. But we have shortlisted some mobile phones, which can avoid these packages, and address such concerns and prove to be better.
Solid Processor
You need to start with a processor that will be able to run any kind of trading platform out there. A good processor will also allow you to take or leave positions with more precision, which is extremely important if you’re trying to capitalize on small price movements. Anything above 1ghz should be okay but try to aim for something with a clock speed around the 1.5ghz mark. That should help you deal with more advanced platforms that may be rolled out in the future.
RAM
RAM is probably the second most important thing after the processor for traders. You want to be able to run things like performance indicators, look at charts, check the live price of Ethereum at OKX, and execute trades at the same time without freezing or lagging. So, check the amount of RAM you have on your phone and don’t settle for anything under the 8GB mark.
Battery Life
Running applications and trading in real-time can be very demanding on a battery, and you will be severely limited if your phone dies after two hours of trading. So, research the battery performance of any phone that you’re thinking of buying so you don’t have to constantly worry about plugging it in or interrupting your trading because you don’t have batteries. It would also be wise to invest in a proper power bank so you can charge your phone in case of an emergency.
Memory Space
Memory space is very important as well as you may have to download a lot of very heavy applications with many updates on top of your everyday ones. If you want to know how much storage space you need, first check how much space the apps are taking up on your current phone. This is something that you can easily check in your phone’s settings under the “storage” section. You should then add around 15GB to that number. If you don’t have a phone, then anything with at least 60GB of space should be okay.
Screen Size And Resolution
You should also privilege phones with large screens and high resolution if your main goal is to trade. A nice screen will allow you to see things like candlestick figures clearly without having to constantly zoom in and out. And you won’t be making as many errors when making trades either, which can make a big difference if you are trying to capitalize on the momentum.
If you keep these things in mind when buying your next phone, you should end up with a pretty decent machine that will allow you to trade easily with minimal issues. Take the time to look at as many models as you can and don’t be afraid to ask other mobile traders for recommendations.
Conclusion
Smartphone-running applications for trading are a convenient way to stay notified and updated always and execute trades on the go. However, it’s always suggested to carefully understand the limitations of mobile trading and to be cautious always. In order to be bug and spam free, ensure that the security of your trading activities is under the complete surveillance of the user, when using a mobile device.
