The development in the digital currency world is huge and it has been a point of attraction for many investors globally to maximize their incomes. However, even though it is highly beneficial, getting things done correctly when you are making crypto investments without crypto investment tools is not easy.
The processes associated with trading, exchanging, storing, purchasing, and tracking the transactions can be highly complicated. Without the best technical analysis tool for cryptocurrency, an investor will lose fortunes from trading.
In this guide, we will be discussing some important tools which are must haves for all crypto users from the day they join the crypto space. The tools that have been mentioned below will help you in making proper investments in digital currency.
Top Crypto Investment Tools For All Investors
Whether you are a beginner or have been a digital currency investor for years, crypto investment tools can help decrease your risks and raise your chances of being ahead of the game. Here are some of the best investment tools that can be used by you to refine your research before making any investment in digital currency.
CoinMarketCap is perhaps the most availed platform for tracking the overall performance of digital currencies. Its commonality arises from its being among the oldest and most trusted network for crypto analysis. You get this cryptocurrency analysis tool free without paying anything for this.
Inventors avail this for various instances to follow up on the general growth of a specific crypto asset. This network updates every day. As such, it does not offer misleading data about the financial position of the asset. And this is among the best cryptocurrency analysis sites.
Along with that, CoinMarketCap displays data about the real time volumes, the increase in price, and the chart of the previous seven day period. This platform has more than 8 thousand crypto asset support. If you are an experienced or a beginner crypto user, you will require this platform for your regular crypto updates. This is the best crypto tool 2022.
The next among the cryptocurrency tools are wallets. Wallets for the storage of coins are the main things every investor should hold when signing up for crypto trading. An online crypto wallet is suggested if you are storing on a short-term basis, but you will require to get a cold wallet that keeps your addresses on the hardware and not on capacity in the case of long-term storage.
Among the best online and offline wallets include;
- Cold wallets such as Trezor One and Ledger Nano S will provide maximum protection to the private address and assets of the investor.
- Hot wallets such as Mycelium, Exodus, and Electrum offer unique capabilities for great user controls.
There are many exchange platforms, but only a few flourish in service supplying and leading over the rest.
- Binance: One crypto exchange that maximizes crypto use is Binance. This platform hosts over 100 coins and has relatively low fees on transactions.
- Coinbase: Another common crypto exchange platform is Coinbase, but it allows a relatively less number of assets compared to Binance.
Portfolio Tracker Tools
Large scale crypto investors in the crypto space often focus on expanding their assets, formulating portfolios to maximize returns. For example, one may have invested a significant portion in Ethereum and Bitcoin, but other smaller portions in other less productive assets with great prospects.
However, the idea behind portfolio analysis is quite complex, especially for individuals without financial backgrounds. As such, for the investors, the crypto portfolio tracking tools will be of great support.
The following are some of the best portfolio trackers:
Crypto Rebalancing Tools
Whenever you operate a digital currency portfolio, you are required to rebalance the portfolio to increase your income from time to time. The crypto rebalancing tools will allow you by normally rebalance your crypto portfolio varying on the parameters you set.
The following are two of the premium crypto portfolio rebalancing platforms;
- Shrimpy: A great example of a crypto portfolio rebalancing tool is Shrimpy. Even though this platform provides services like social trading bots, it has domestic portfolio management choices instituted
- 3Commas: Another great example is three commas, which provides rebalancing options.
Crypto Trading Bots
A cryptocurrency trading bot is a software that is used to evaluate the trading data of the assets and then carry out buying and selling on behalf of a trader. This software acts on the basis of pre-defined and pre-programmed rules. On the pricing graph of the market, the decisions that are made on trading bots depend. So trading bots in the digital currency market has advanced just like the bots in the stock market.
Crypto Tax Tool
Crypto taxing is quite a struggling task, and every crypto trader feels the same. The crypto space is so complex. Analyzing data is difficult, but taxing is even harder. Hence, a crypto enthusiast should influence tax tools to help you arrange your crypto tax issues. Among the best taxing tools include:
- Accointing.com enables you to import your historical transaction information, after which they measure your tax liability
- Token tax platform provides taxing services at affordable rates.
A crypto calendar platform is a network that mainly portrays the schedule of varied activities in the crypto space. Using these channels, one can never miss out on some of the best chances in the crypto space.
Here are some great crypto calendar platforms;
- ICO calendar
- Coin calendar
- Cryptocurrency coin event
- Wiser ICO
The Bottom Line
To thrive and survive in the crypto space, all crypto investors must get the best crypto services tools. Among the crypto investment tools, there are crypto trackers, cold wallets, coinmarketcap, mining tools, and many more. Using such will assure an investor an easy time in trading assets.
However, there are even added platforms providing other useful services. Take, for example, crypto-related news, articles, and blogs released by the many platforms.