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Are you looking to level up your crypto trading game? If so, you’re in luck! In this article, we’ll introduce you to 10 must-have crypto tools that can make a significant difference in your trading journey. These tools are designed to provide you with valuable insights, streamline your decision-making process, and maximize your profitability. So let’s get right into it.
If you’re looking for powerful tools to enhance your trading experience, here are ten crypto tools that can help you analyze, track, and optimize your trades, enabling you to make informed decisions and increase your chances of making l profits:
Glassnode is a platform that offers valuable market intelligence based on blockchain data. It equips investors with crucial information about various cryptocurrencies, including Bitcoin and Ethereum. By utilizing Glassnode, investors can access data and insights that assist them in making improved investment and trading choices. Specifically, the platform provides data on the exchange inflow and outflow of coins, which can indicate whether more people are planning to sell their holdings or not.
Coingecko is a comprehensive cryptocurrency tool that provides users with a wide range of information and data on various cryptocurrencies. It allows users to track the prices, market capitalization, trading volumes, and other key metrics of different cryptocurrencies in real time. Additionally, Coingecko offers features like portfolio tracking, historical price charts, market trends, and news updates to help users make informed investment decisions. With its user-friendly interface and extensive coverage of cryptocurrencies, Coingecko serves as a valuable resource for individuals interested in the crypto market.
Santiment is a tool for crypto research that offers various data sources like on-chain, social media, and financial data to predict cryptocurrency price movements. It provides users with a broad range of features and analysis methods, including social dominance, exchange flows, valuation metrics, and financial analysis. The tool aims to set industry standards for cryptocurrency market data, promote best practices, and enhance project transparency.
CoinMarketCal is a cryptocurrency tool that provides information about upcoming market events related to various cryptocurrencies. It serves as a social platform where users can share insights and news regarding these events. The platform follows an evidence-based and community-driven approach, allowing users to contribute and verify crypto events. When users add events, they are subject to verification to ensure their accuracy and authenticity. Real events that are verified receive upvotes from the community, while events that appear to be fake or inaccurate may receive downvotes.
DefiLlama has emerged as the primary source for individuals seeking information about Total Value Locked (TVL) for cryptocurrencies. It has gained recognition as the leading source for users seeking to access TVL data.
DeFiLlama aggregates data from more than 100 different blockchain networks, allowing users to gain insights into the TVL figures associated with various DeFi protocols and their interactions across different blockchains. The TVL metric is considered vital when evaluating the performance and popularity of DeFi protocols and even the overall strength of blockchains themselves.
One of the key advantages of this tool is its ability to present complex TVL data in a visually appealing and easy-to-understand manner. By leveraging intuitive dashboards, users can explore and analyze TVL figures for specific blockchains, protocols, and even track airdrops, among other features.
Dash 2 Trade
Dash 2 Trade is an exceptional tool for crypto trading that offers you advanced analytics and market data. It combines valuable features like actionable trading signals and accessible on-chain analysis, empowering you to seize profitable opportunities in the crypto world.
At the heart of the Dash 2 Trade platform lies the D2T token, an ERC-20 token you need to access its diverse ecosystem. Remarkably, the presale of Dash 2 Trade has achieved immense success, surpassing $4 million and selling out rapidly.
One remarkable feature of Dash 2 Trade is its crypto signals. These signals promptly notify you about advantageous buy/sell opportunities in the market and provide recommended risk management strategies. The tool also provides insights from social and on-chain analysis. By monitoring social media platforms, it assesses the extent of discussions surrounding specific cryptocurrencies, helping you identify coins that may undergo significant price movements.
Shrimpy is a website for managing cryptocurrency portfolios. It integrates with various exchanges and provides users with a comprehensive overview of their crypto investments. This eliminates the need for investors to log in to multiple exchanges to monitor their portfolio performance.
Instead, Shrimpy presents users with a visual representation of their digital coin allocation across different exchanges. Additionally, users have the ability to specify the desired allocation for each cryptocurrency.
For example, users can instruct Shrimpy to increase the allocation of Bitcoin if its market dominance expands. Consequently, during a bullish phase for Bitcoin, the platform will automatically execute trades on behalf of the user across different exchanges.
TradingView’s crypto tool is the perfect platform for traders and investors in the cryptocurrency market. It gives you a comprehensive set of features and tools to analyze, monitor, and trade different cryptocurrencies actively. With real-time price charts, technical indicators, drawing tools, and customizable alerts, you can confidently make informed trading decisions.
You’ll also be able to engage with a vibrant community of like-minded individuals. Share ideas, strategies, and insights with fellow users to enhance your knowledge and success in the dynamic world of cryptocurrency trading. The user-friendly interface and extensive functionality of TradingView’s crypto tool make it an invaluable resource for navigating the cryptocurrency market.
Kraken exchange’s Cryptowatch is an exceptional analysis tool for short-term cryptocurrency investors. You can enjoy a unified interface to monitor digital currency prices, study market movements, and execute trades on major exchanges.
With this platform, you gain real-time access to cryptocurrency prices and order book data from over 800 exchanges. You can even personalize your dashboard with preferred crypto charting tools. These tools enable you to visualize live exchange data and provide built-in technical analysis indicators and overlays.
Furthermore, Cryptowatch is available on both mobile and desktop devices. It follows a unique payment model where you are only billed for the specific features you use.
3Commas provides you with one of the top crypto trading tools if you’re looking for a fully automated investment journey. The main idea behind 3Commas is to empower you to create your own trading bot, completely customized to your preferences. This bot operates on predefined conditions, executing trades based on “what-if” scenarios.
Let’s take a simple example. Suppose you want to buy XRP whenever its price drops by more than 4% in a 24-hour period. Once this condition is met (XRP declining by 4%), the automated bot will enter a buy position. However, 3Commas offers much greater flexibility than this basic example, allowing you to set multiple conditions according to your trading strategy.
If you don’t possess the necessary skills to develop your own trading strategy, 3Commas has got you covered. You can choose from their selection of pre-built bots, including the DCA (Dollar-Cost Averaging) bot. This particular bot automatically buys selected cryptocurrencies when their prices fall below a specific threshold.
With 3Commas, you have the tools to automate your crypto trading journey, whether you prefer to build your own bot or utilize one of their pre-built options.
Here are some best practices to follow that can significantly improve the security of your crypto tools and help protect your digital assets.
Be cautious with third-party integrations: Carefully evaluate the security and reputation of third-party services or integrations before using them with your crypto tools.
Use a dedicated device for crypto transactions: Consider using a separate device or a virtual machine solely for crypto-related activities to minimize the risk of exposure to malware or keyloggers.
Implement multi-signature wallets: Consider using multi-signature wallets that require multiple approvals to initiate transactions, providing an extra layer of security.
Regularly update software: Keep your crypto tools up to date with the latest software versions to benefit from bug fixes and security patches.
Avoid public Wi-Fi: Avoid using public Wi-Fi networks when accessing your crypto tools or making transactions. Public networks are more vulnerable to eavesdropping and man-in-the-middle attacks, which can compromise your security.
Verify SSL certificates: When accessing crypto tools or exchanges through a web browser, verify that the website has a valid SSL certificate. This ensures that your connection is secure and encrypted.
Educate yourself: Stay informed about the latest security practices and threats in the crypto space. Follow reputable sources on social media, join crypto communities like the Crypto University, and consider attending workshops or conferences to enhance your knowledge and stay ahead of potential risks.
Having access to crypto tools is crucial for every investor. You need to acquaint yourself with a couple of these tools before investing in a specific cryptocurrency project. These tools provide valuable information about the price fluctuations associated with any crypto project.
Although the initial use of these crypto tools might seem confusing, once you become familiar with them, you’ll be equipped to make well-informed investment choices and experience more success in your trading journey.
If you want to learn how to use some of these tools and experience more profits in your crypto journey, join the crypto university membership today.