As the years go by, cryptocurrencies are becoming more and more popular. There are over 1600 cryptocurrencies at the moment and the number keeps rising, just as the popularity increases. More people are beginning to invest in cryptocurrencies as they see it as a valid means of transaction. Bitcoin is known to be the most popular and has the largest Blockchain network. Other examples include Ethereum, Litecoin, Ripple, Bitcoin Cash, Tether, EOS etc.
6 Crypto Tools You Need to Know
It is interesting to know how cryptocurrency evolves on daily basis. It is therefore pertinent to stay on track with the evolution in the crypto world. You need to keep up your knowledge and improve your skills. Some Proessaywriting surveys and research have shown that; advanced trading tools, coupled with knowledge gives a higher probability of success in the crypto world. Various people have testified of increased earning since they decided to adopt state-of-the-art tools in trading. The following tools are important to stay ahead.
Trading Bots and Rebalancing Tools
This tool is useful when you have two or more different coins on different exchanges. This means that you can carry out different trades and also access different exchanges at the same time.
This tool can come in handy for busy people or inexperienced traders who are ignorant of how the market works. The trading bots trade on your behalf once you connect it to your account. While your trading bot is working, you can lay hands on some Essay Writing Land research in order to improve your knowledge of the crypto market.
Crypto News Aggregators
This is more than just a tool. It is an aggregation of different tools which brings together all available crypto news in one place. This helps to keep the investors informed about the things going on in the market. So, they’ll know what news is real and which one is not.
This tool gathers news from various sources including Twitter for investors to read and analyze. This way the investor knows what is happening with the various cryptocurrencies and can decide what to do.
This is a research tool that studies and analyzes various cryptocurrencies from different angles. It gives insights and the best cryptocurrency analysis and solution available in the market. The cryptoanalysis is done from various angles like; charts, investment stats, coin specs, predictions, fundamental analysis of coin, news etc. AustralianWritings.net recently published a review on the usefulness of this tool, the accuracy of its analysis and how it can help you make an informed decision on your trading.
This tool compares two coins that may be from the same niche or from different niches. It compares them based on different parameters like;
- Price (USD)
- Market Cap
- Price (BTC)
- Total supply
- Circ vs. Total
This helps the investor to understand the potential of the coins before they invest in them. They can do this by matching the two coins against each other to determine how well they are performing in the market. This can be likened to the kind of analysis you would expect from Myassignmentwriting.com.au experts when conducting market research.
Crypto Portfolio Tool
This tool helps you to track the profits you make from crypto. If you have invested in crypto, you need a sure way to track your investment. Crypto portfolio tool helps you to know the number of units of a coin that you have and what is the total worth of your units in the market. It gives you an idea of the percentage of profit or loss that you are going to make. This tool works differently for traders and investors. An investor may need an advanced tool like CryptoCompare or CoinTracking to track their profit or loss percentage.
Blockmodo and Coinratecap
These tools are CoinMarketCap tools but with newer additional features. Both tools have their advantages depending on your preference. Blockmodo.com includes community data in its features as well as social video. This helps to give a better and clearer view of how the market is faring and why it is performing like that.
Coinratecap, on the other hand, provides regular updates on current prices as well as a regularly updated list of highest crypto exchanges between 1-100. Investors who are familiar with essay writer market analyses know that regularly updated information is the key to profitable investment in the crypto market.
The increasing popularity of cryptocurrencies is no longer a strange phenomenon, with currencies like Bitcoin, Ethereum, Ripple among others making waves online. These currencies present bright opportunities to invest. But without smart tools and proper knowledge of how the market works, you’re bound to lose your investment. Many investors doing well in the market today can be traced back to strategic trading based on up-to-date information.
Disclaimer: This article should not be used as an investment or financial trading advice and reflects the personal views of the author. Please conduct careful due diligence before investing in any digital asset. The views, opinions, and positions expressed within guest posts are those of the author and do not represent those of Tokens24. The accuracy, completeness, and validity of any statements made within this article are not guaranteed. Tokens 24 accepts no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.