As the crypto marketplace is expanding, more and more people are taking interest to invest in cryptocurrency and earn the expected associated with it. As the cryptocurrency is highly volatile, it makes it difficult for traders to analyze, predict, and invest in a particular currency. You can’t just blindly predict and put your funds into the crypto marketplace. You have to understand the recent trends, study the historical charts, analyze the behavior of the market and then make your final decision. Don’t worry if you are just a beginner, in this article we will categorize the analytical, trading, and best cryptocurrency asset management tools.
Cryptocurrency Analysis Tools| Best Cryptocurrency Asset Management Tool
Choosing the right cryptocurrency analysis tools and then carefully utilizing them to read the markets can successfully put you in the category of gainers. Taking an educated decision related to buying and selling of cryptocurrencies is a bit challenging. But the plethora of analytical tools are there to rescue you and help you in making judicious decisions.
- TradingView: One or other trader is benefiting from the insightful commentary and tips and tricks from already established traders provided by Trading View. It provides detailed analysis and comparison charts based on major indicators involved in crypto trading.
- CoinGecko: User-friendly and completely free tool provides you the up to date overview of the best performing cryptos in the marketplace. CoinGecko provides a detailed ranking of the coins based on market capitalization, liquidity, historical data, mining difficulty, and sentiments of investors.
- Cryptowatch: Charting resource tool which is owned by Kraken, one of the reputed crypto exchanges. This tool gives you an opportunity to analyze the trends of the number of exchanges and trading pairs based on indicators like Relative Strength Index, Moving Averages, and many more.
- CoinMarketCap: It is a commonly used charting website with a simple interface displaying market cap, current price, trading volume, price change, and also the weekly price graph.
- TensorCharts: For advanced traders, TensorCharts is one of the analytical tools that provide the data related to order books of the exchange. An interesting interface with red and green blocks allows traders to analyze the price action and finally study the market trends.
Beyond the analytical tools, you also need to know about the best tools to trade bitcoin and the best cryptocurrency asset management tools. Manual trading is a bit tedious and out of trend so the crypto space provides a variety of crypto trading to aid the investors.
Cryptocurrency Trading Tools| Best Cryptocurrency Asset Management Tool
As the crypto space is expanding at an exponential rate, business makers are introducing the crypto community with a variety of best crypto trading software which allows them to engage in automated trading. Some of the best trading tools are:
- TradeSanta: TradeSanta is one of the trading bot (available at free of cost) which can help you earn even while you are sleeping. Only by setting your requirements, bars on the selling and buying prices and filling the details in some of the other checkboxes, you can start trading automatically.
- Trality: Trality is the platform for bot creators who require flexibility when developing cryptocurrency trading bots. Trality allows anyone to automate their trading strategies quickly through the use of its Code Editor for Python developers and the Rule Builder which requires no coding knowledge. Check this piece on how easily this can be done.
- Coinigy: Coinigy is one of the best crypto software which connects almost all of the major crypto exchanges. You can trade in both of the ways, either off the charts or by entering your trading value. With powerful execution tools, it is considered as one of the best tools for day trading crypto.
- 3Commas: Single interface of 3Commas helps you in making trading decisions by connecting major crypto exchanges. Along with it, you can enjoy the smart features like trailing stop-loss and trailing take-profit to maximize your profits.
- Shrimpy: The concept of rebalancing to minimize risks and maximize profits (irrespective of market conditions) was introduced by Shrimpy in crypto markets. This trading software asks you to schedule the rebalancing hours, days, or weeks and then on its own, it buy/sell your coins. It is a kind of tool for day trading cryptocurrency and also for long term investments.
There are plenty of trading tools available in the market, you can choose any of them as per your requirement. Make sure that you read the detailed guidelines and associated disclaimers of the platform. Now after analyzing and trading, let us move on to understand the management of crypto assets.
Best Cryptocurrency Asset Management Tool
Either you are a small investor or institutional, you need to have the best cryptocurrency management tools to trade efficiently, to store your crypto coins securely, to get updates of the recent trends, to check the authenticity of any new project and many more. Let us try to prioritize the tools you need to manage your crypto assets efficiently.
- Crypto Wallets: Either hot or cold, desktop, or mobile, a highly reliable crypto wallet is needed for every trader to manage the assets by protecting the private keys of the coins belong to them. For hardware wallets, you can choose Ledger Nano, Trezor, etc and if you want a software wallet, you can choose from blockchain, mycelium, exodus, and many more.
- Crypto Calendars: Calendars specially meant for crypto markets providing the details of release dates of various projects, the launch of airdrops and bounties, and information affecting the market sentiments.CoinMarketCal is one of the website which provides with evidence-based and community-driven economic calendars which can help traders to successfully strategize their investment plans.
- Social Media Tools: Social media not only connects you to the best of the forums related to cryptocurrency but also helps you to know about the sentiments of traders. For instance, Slack is one of the tools which connects you to the online collaborative workplace where you can discuss marketing strategies, trading trends, and many more. Another platform Reddit acts like a crypto management tool by providing you with the sources or whitepapers associated with projects.
- Crypto Mapping Tools: Every day, the crypto industry is evolved not only in terms of trading volume but also with the development of codes associated with a variety of projects. By keeping an eye on the preferred currency codes and mapping them carefully, you can predict the nature of currency in the marketplace. For instance, if the number of commits is going to increase, it would certainly ramp up the demand for a particular currency. GitHub allows you to keep an eye on the roadmap of hundreds of projects.
- Crypto Accounting Tools: Traders with diversified portfolios are required to track the assets, audit them, and also file crypto taxes. You can use the platform of Blox to manage your assets, accounting them and for systematically organizing them on a single interface.
As you explore more of the crypto industry, you will get to know more about the utility of these top cryptocurrency asset management tools.
Best cryptocurrency asset management tools along with analytical and trading tools are the need of every crypto trader, whether he is involved in trading a small amount or large amounts. One has to be aware of the majority of aspects relate to bitcoin trading before jumping in the pool of crypto traders. As crypto markets are getting popular among the investors, people are diversifying their crypto portfolio and market trends are getting complex to study, this article recommends you to choose best of the tools in the crypto space and start managing your assets.
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