Cryptocurrency has alerted people about the future trends in business. The day is no more distant when almost every financially literate person will acquire any form of cryptocurrency in their portfolio. Therefore, knowing about this lucrative financial asset is necessary for everyone.
Initially, cryptocurrency was a novice financial asset – a strange financial system to many experts. Bitcoin pioneered this journey, with many people refusing its acquisition. As time passed by, tons of people worldwide realised the importance and benefits of Bitcoin. Thus, we witnessed an unimaginable hike in Bitcoin prices in a short period.
Though Bitcoin helped many, it dragged a lot into bankruptcy. Nevertheless, cryptocurrency is a new financial education that needs analysis and deep understanding. You must know what cryptocurrencies to avoid since not everything that glitters is gold. Thus, we have enlisted ten handy tools to take your crypto game to a new level.
Cryptocurrency – The Futuristic Financial Asset
Cryptocurrency is an entirely innovative financial project that originated back in 2009 with the creation of Bitcoin. At first, it didn’t get proper attention, but sooner, many accepted Bitcoin as a lucrative financial asset. Thus, the journey of cryptocurrency began, and cryptocurrency went viral globally.
The core system of cryptocurrency is blockchain technology. It is a robust and secure ledger system that enables fast and safe transactions worldwide. Though crypto offers a plethora of risks to investors, it also is one of the most profitable and easy money projects for investors. Therefore, you must know about the proper roadmap to succeed in crypto investment.
10 Best Crypto Tools
Finding the right tool or platform is the first and essential step for stepping onto the success track. With top-notch tools, you can analyse the market, understand the crypto trends, invest accordingly, and get a handful of profits.
However, the amount of tools online exceeds hundreds. Thus, finding the right tool must be a headache for you. Here are a few of them to help you get started with your crypto investment and trade.
#1. Binance – The Best Crypto Exchange
The crypto exchange is where you step into the investment process. It is a platform to buy and sell crypto assets for your portfolio. Thus, you must have your crypto in the suitable cryptocurrency exchange.
Today, Binance is the leading name among crypto exchanges, with tonnes of users trading on it daily. The best part of Binance is the number of transactions carried out that adds to the liquidity of its money. Furthermore, it has a secure and clean record of financial transactions.
Binance is a centralised crypto exchange that conforms with central authorities. On the contrary, IDEX is a decentralised crypto exchange. Thus, it has the same functionality as crypto trading and investment, but the entire phenomenon does not rely upon a central body for regulatory purposes.
IDEX is a user-friendly and stunning platform to start trading. Moreover, it is an average platform with enough liquidity to never make an issue with your crypto assets.
Unlike crypto exchanges, you must make your account on a trading platform to get started with trading and investing in cryptocurrency. Therefore, Coinigy is the best tool, supporting over 45 crypto exchanges.
It helps you review a crypto asset and its history to devise your strategy for that crypto. Moreover, the tool has a sleek and aesthetic user interface and user experience, making it a favourite choice for users.
#4. TradingView – The Best Analysis Tool
To analyse the market trends, you must observe the live trading charts. TradingView is the best tool for that purpose. The best thing is that it is a complete solution for analysing cryptocurrency and stocks. Plus, its analysis is based on technicality and an in-depth view of the market trends.
Another analysis tool is Cryptowat.ch, which belongs to a renowned crypto exchange, Kraken. The best thing about this tool is its free use with a fantastic interface, allowing you to compare more than ten charts simultaneously.
Market cap defines the real-time performance of a crypto asset in the market. Therefore, you must have a tool that can offer you data about a cryptocurrency. CoinMarketCap is the best tool for this purpose, with prices, volume, and supply information.
You must have to keep a vigilant eye on the stats of a cryptocurrency and its performance to make an informed decision about trading it. CryptoMiso is an advanced network statistics tool that enables you to check the transactional activity of various coins, including Bitcoin and others. Simply put, it helps you predict the future performance of the cryptocurrency based on its current activity.
You must have a reliable new aggregator to never miss an update about a prospective crypto coin. CryptoPanic is the favourite news aggregator for many crypto enthusiasts since it has a user-friendly interface. Moreover, you can personalise it as you choose to get the news.
Since we have advanced in the technical and automated systems, trading bots are the new big norm in the market. HaasOnline is one of those amazing trading bots that work based on your provided criterion. It has a sustainable and lucrative performance with few risks in terms of performance; You can try it yourself.
Having a balanced crypto portfolio is a must for every investor. However, manually balancing your investment portfolio is a hectic task. Therefore, Shrimpy is the best alternative that is an online tool for this purpose. The best thing about Shrimpy is that it charges no money. Thus, it allows you to test various investing strategies on your crypto exchanges.
Frequently Asked Questions
Can Cryptocurrency Make You Rich?
Cryptocurrency can make a person rich overnight, but it can also make you lose your entire riches in no time. It depends on the game an investor plays for their crypto investment. Thus, ensure a checklist of essential tools before diving into the crypto sea.
Should I Invest in Cryptocurrency in 2023?
Cryptocurrency is a lucrative industry for investors and traders. Whether a day trader or a long-term investor, crypto can help you in both cases. However, you must tackle the hurdles and risks connected with cryptocurrency. This way, you can generate positive cash flow from your crypto portfolio.
Which Cryptocurrency Will Boom in 2023?
There are many cryptocurrencies with the ability to do their best in the financial market in the future. However, a few of them will take the market by storm. They include Ether, Tether, Ripple, Cardano, etc. The reason for their boom in 2023 is their market cap and demand based on their users.
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