The cryptocurrency market continues to expand as more and more investors hop on the bandwagon. Even though they’re not widely used, cryptocurrency provides distinct advantages over the traditional fiat money system. Some notable benefits of crypto include security, transactional freedom, and ease of transaction.
While it has advantages, crypto has its downsides. Unlike other investments, understanding cryptocurrency trading takes time and effort. Although that’s the case, some trusted websites provide reliable and comprehensive sources of information. Hence, consider checking them out to understand cryptocurrency better and keep up with the latest crypto news.
On the other hand, making consistent profits out of crypto trading is no simple feat. That’s why it’s crucial to use various automation and analytics tools. Crypto tools enable you to get historical and real-time market data.
With that in mind, read the list of the best crypto tools mentioned below to help you make better trading decisions.
1. TradingView
TradingView is a widely-used trading platform that offers a social network, technical indicators, real-time charts, and cross-platform alerts. You can access these features via a dedicated desktop app, mobile app, and web interface. The TradingView platform aims to help crypto investors analyze cryptocurrency with the latest news and technical updates.
Furthermore, TradingView works by allowing crypto traders to interact with other traders. That fosters an environment wherein everyone can share their ideas, evaluate the outcomes of those ideas, and get down to their accuracy.
As a result of having this system, it creates a community that supports each other’s ideas and analyzes trends collaboratively. Thus, it helps remove the time-intensive and distressing technical analysis.
2. Messari
Messari is a cryptocurrency startup in New York. It’s an excellent platform that provides data and analysis on various crypto coins and projects. Apart from the detailed data it provides to traders and investors, it also produces various significant crypto-related reports.
The platform has a dedicated team of finance researchers conducting research in the crypto finance field. And those reports are categorized for improved accessibility. In addition, Messari provides traders and investors with valuable tools for analyzing charts, helping them make better trading decisions.
The platform’s chart displays cryptocurrencies in various metrics and statistics, showing multiple factors surrounding the crypto’s current situation. Those factors discuss a coin’s price, volatility, volume, crypto market cap, and other relevant details. This information provides crypto traders and investors valuable insights into the coin’s future and economic position.
3. Dash 2 Trade
Dash 2 Trade is an excellent social trading platform crypto tool that provides traders and investors with high-quality market data and analytics. Crypto signals are the primary features of this platform. These actionable trading signals alert users of sell or buy opportunities in the crypto market and risk management strategies.
When it comes to the platform’s social and on-chain analysis feature, it provides valuable insights to crypto investors by monitoring social media platforms. This feature allows traders and investors to determine cryptos that could experience significant price movements.
In addition to those features, Dash 2 Trade platform includes an alert system that notifies crypto investors of the new cryptos with the most significant potential. The system monitors the presale market to help investors determine the legitimacy of new cryptocurrencies.
4. Cryptowatch
Cryptowatch is a trading and browser-based crypto platform that provides investors with order books, market data, charts, and the ability to trade on multiple exchanges. Owned by the well-known exchange Kraken, this platform has access to many networks and functionalities.
Cryptowatch allows investors to analyze market movements, scan crypto prices, and place trades on exchanges using a single interface. Furthermore, since Cryptowatch is accessible through a web browser, it’s available on nearly all platforms. It also offers excellent metrics readily accessible to app users.
For instance, sorting by Liquid Bids is among the best alternatives for comparing digital currencies. The metric shows crypto investors how much actual demand there is for a particular asset.
5. Glassnode
Glassnode is a data and intelligence platform that collects data from multiple blockchains to track crypto network activity accurately. Then, it reports metrics and insights to traders and investors.
It also displays data in the form of charts and allows users to personalize their dashboards. In addition, the platform provides price data and enables users to set alerts. Also, it divides its data into multiple tiers based on its level of sophistication.
Moreover, this on-chain platform can inform users about the market cap of cryptos and the average length of time crypto investors hold their assets. That information can help investors predict a cryptocurrency’s long-term prospects.
Conclusion
After all, having access to high-quality data and tools as a crypto investor is crucial to forecast a crypto’s future direction. Crypto tools and analytics are necessary to make intelligent trading decisions. With that in mind, consider the best crypto tools mentioned above to help you make consistent gains in the crypto market.
