Ethereum is currently the second largest cryptocurrency by market capitalisation after Bitcoin.
As a result, many investors are now flocking to Ethereum, has some very strong fundamentals. To name a few: strong community and great developers behind the project, smart-contract component and, of course, ICOs. Based on this, many investors are now flocking to Ethereum in view of potential rewards in the long-run.
Naturally, this has surged the demand for Ethereum wallets. There are now over 42 million distinct addresses according to Etherscan. With its daily increase of about 60,000 addresses a day and trading volume of more than $2 billion a day, investors are searching for ways to monitor most wealthy and active Ethereum wallets in order to figure out best course of action for their investment and management decisions.
EtherDrops is the product that is there to assist you. However, dont think that Im trying to sell something to you, as it is completely free of charge.
In a nutshell, EtherDrops is a cryptocurrency bot that monitors Ethereum addresses and notifies you of any activity. To get this tool search at Telegram for: @EtherDROPS_bot
With EtherDrops you can do the following
View Addresses and check balances
As an investor or a cryptocurrency enthusiast, you might have heard about “whales” and genesis addresses. Whales addresses are those, which have deep pockets and can influence the price in either direction. Genesis addresses are less aggressive compared to whales, but no less influential. This is because back in 2015 as a result of the Ethereum`s crowdfunding 50 million Ether were distributed to these wallets. It is important to stay tuned in regards to what these and many other wallets are doing.
⦁ Select a function “Add wallet” and monitor any Ethereum Address you like :
⦁ Attach labels to wallets so you dont get confused or just type skip if it is your only address youre willing to track.
Lets assess the functionality of bot using an empirical example of Vitalik Buterin's Ethereum wallet. 0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B
⦁ No longer interested watching the wallet? Simply delete it by pressing “Delete Wallet”
⦁ EtherDrops bot is really easy to use. Intuitively, to watch your wallet`s balance select “Balances”
If a transaction has happened, EtherDrops will notify you immediately by providing you a link of this transaction at Etherscan. Very handy especially if you want to dive deep with details of the transaction block number, time etc.
View the last 10 transactions of a wallet
It is a very powerful tool as it gives you an idea on whether the wallet you`re watching accumulates Ether or whether it sends it to another wallet (presumably exchange if it wants to sell it). Following this, you can make quick investment decisions.
⦁ Try this option out by pressing “Last 10 transactions”
Set up a notice for a minimum amount of Ether transacted by pressing "ETH notify"
This is a must-have option due to the fact that we may be more concerned about large transactions of Ether, rather than some minimal ones.
Be notified of token transactions and Airdrops
Another handy tool if you are also interested in tokens.
⦁ All you have to select is “Token on/off” and you`re ready to go
Advantages of using EtherDrops
EtherDrops will also help to the owners of contracts on Ethereum, because you can easily track the flow of funds to the ICO, which is the quickest and easiest way. In turn, ICO investors themselves can monitor the flow of funds and even track whale transactions using the limit function.
Last, but not least, EtherDrops keeps you alert of hackers trying to drain you wallet. Sadly, but breakthrough innovative developments, such as cryptocurrencies, are not immune of hackers and illegal activities. Not long ago in April 2018, notable cryptocurrency investor Ian Balina ended his livestreamed ICO review when he realized his account had been hacked. Hopefully, the crypto community has learned the lesson. We have to take our security seriously. EtherDrops monitors wallets real-time, no backlogs. If a certain number of Ether left the wallet, youll be notified the next second. If Ian had used EtherDrops, he wouldnt have missed the moment assets left his account and would have reacted accordingly. This might had preserved a portion of his wealth.
In conclusion, can use EtherDrops to monitor addresses and their balances; set minimal limits of Ether transacted for your notifications; watch Airdrops and token transactions; get notifies of hackers trying to put money out of your pocket; watch the flow of funds to ICOs.
If interested, you can find EtherDrops at Telegram at @EtherDROPS_bot
Let’s build a decentralised future together!