My Digital Money, a Pasadena-based investment platform focused on cryptocurrency, has launched a new feature that helps customers better manage their investments and limit losses when the market fluctuates.
Trigger Order was launched as an automated order placed to buy or sell cryptocurrencies such as Bitcoin or Ethereum once the digital currency reaches a certain price set by the account holder.
Trigger Order follows the launch of My Digital Money’s Play Money Account feature that allows investors to test trading strategies and see potential losses and gains in real-time, the company said in a statement.
“We are excited to offer another feature to help investors become more confident with their retirement wealth,” said Collin Plume, My Digital Money founder and CEO.
“Seen earlier this month with the sharp decline in cryptocurrencies, we recognize that digital currencies are highly volatile assets. With My Digital Money’s Trigger Order feature, investors can now limit potential losses without being tied to their computers or smartphones every moment of the day,” Plume said.
The new feature also enables investors to secure opportunities for gains by establishing a preset price where their position will be sold during a market dip. Account holders can also set predetermined prices that trigger a buy option in order to purchase cryptocurrencies at lower prices for future profit.
As cryptocurrencies are highly volatile assets, Trigger Order empowers investors to set targets and conveniently manage assets for retirement, the statement said.
My Digital Money’s Play Money Account feature earlier started a trading simulation feature where anyone can open an account without needing to provide credit card, payment information, bank details, or other personal financial data.
“We want our customers to feel in control of their financial futures no matter how the market is behaving,” Plume added. “This new feature puts the power back in investors’ hands and in charge of their retirement.”
To learn more about My Digital Money and how to open an account, visit www.mydigitalmoney.com.
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