BitcoinChain allows users a take on monitoring different types of bitcoin exchanges. Exchanges such as Bitstamp, BTC-E and Mt. Gox (now out of business) can be analytically dissected and understood in one place.
The data resource provides analysis in bitcoin mining and blocks, as well as providing which mining pools are the most powerful.
According to a press release, a spokesperson from BitcoinChain spoke about the significance the resource had to offer:
“Bitcoin trade is just like any other financial trade that involves opportunities to sell and buy based on market sentiment, fundamentals and technical analysis. Traders need to be up to date on the latest market analysis concerning major exchange services such as BitStamp. Bitcoinchain.com offers traders just that and provides traders access to information about essential factors that affect the trade such as block generation and bitcoin mining.”
The BitcoinChain representative added that the site allows traders of the digital currency to know what they are getting into. All of the information is there for traders to benefit the most out of any bitcoin related decisions they make. This allows for a more accurate depiction of the bitcoin network.
Impressively, the resource portrays market patterns in bitcoin, which can act to suggest traders when to buy or sell bitcoin. It also measures American and European exchange rates. Block generations, trace block chains and mining pools can also be compared in one convenient location.
A BitcoinChain employee argues that the service is the only market analysis website of its kind. It offers traders block lists of blocks in real-time, while displaying the specific mine pool that is generated.
In addition, BitcoinChain is similar to BlockChain, in that permits users to view their digital wallet and balance. Members from the Bitcointalk forum point out the aesthetic appeal and user friendliness of the online data center.
BitcoinChain acts like a bitcoin stock market, focusing primarily on the advancement of the digital currency within an easy to use sector. The online tool was designed with the user in mind, making bitcoin life simple.
For more bitcoin news, stay tuned to Coinreport.net.