The crypto market is an excellent place to make a profit. And many people do, every single day. And if you were to ask what their secret is, they would tell you it’s the various trading tools available. In fact, this is the best time to be a crypto trader. This is easy to see with the many tools that are on offer.
Experimenting with these tools is highly advised. There is no single strategy when it comes to crypto investment. Instead, it’s important to take many strategies and tools and use them together. This makes it much easier to make actionable decisions. Which is especially important in a market that fluctuates so much.
These tools also make it easier to find the next big investment. For most, these hints are subtle enough to make predictions difficult. But the experienced and discerning trader knows better. But before we go any further, it’s time to explore the crypto world’s very best tools. This will be the ultimate crypto tools checklist for the modern trader.
Most traders have heard of charting tools. These tools help to keep track of different indicators. As well as to visualise what the market could do in the future. These trends and indicators are vital for successful trading. An investor will want to ensure they use the latest charting tools.
This is all part of the crypto analytical process. It’s vital to have access to as much information as possible. An investor that uses these tools will always be ahead of everyone else.
There are also dedicated charting companies. These companies provide a single platform for all manner of analytics. Indicator tools are also quite common. One of these is TradingView. This is a well-known company that provides a wide manner of different charting tools. But others are also available, such as cryptowatch. This platform offers many great tools for free.
The next type of tool to look at is marketing data. This kind of data provides accurate information on the market. Information that’s included here includes:
It’s important to use platforms that offer all of the above. Without this information, making informed decisions is difficult.
One aspect to remember is the normalising of all this data. And this means an investor will need to keep up to date with the latest information. And it also means that interacting with multiple exchanges is a must. Don’t use just a single exchange, platform, or vendor. Rather, use as many as possible. It simplifies the information processing phase.
There are plenty of marketing data vendors available. These include:
Exchanges are important pieces of the puzzle. Exchanges are where most of the action takes place. This means that choosing the right exchange is absolutely vital to long-term success. Thankfully, we live in an age where there are many reliable exchanges to choose from. We will look at some of the most popular exchanges. But for the investor wanting to dive into more detail, check out our up-to-date and informative exchange reviews. For now, however, let’s explore a list of recommended exchanges.
A reliable exchange makes all the difference. And success will be in the hands of the investor that makes the right choice of exchange. The exchanges that we recommend come with the very latest tools and data. And this also includes a wide range of coins and investment options.
Next, let’s explore trading platforms. These are the tools that traders will want to have a look at. They can also help streamline the entire trading process. Instead of trading with just a single platform, we recommend using many at once. Multiple trading platforms running at once will provide a great playing field. When an opportunity arises, the trader will have first dibs. It’s those traders who watch the market that do the best. And it’s why limiting trading to a single platform is not a good idea.
The crypto market is always in a state of flux. The coins that are a part of this same market are always changing. One of the best examples of this is a halving event.
A halving event tends to be associated with Bitcoin, but it applies to many other coins. Ethereum is another excellent example. Here, the amount of Bitcoin available for mining is cut in half. This event occurs every four years. And when it occurs, it throws the market into turmoil. This is why it’s vital to know when these events take place.
One way to do this is by using a crypto calendar. This is a reference to all upcoming events. Knowing when these events occur is important for long-term planning. For instance, another Bitcoin halving event is set to occur in 2024. With this information, an investor can make some choices. In fact, there are lots of great opportunities available at this time.
Never forget how quickly the market can change. But there are some parts of the market that are predictable. These are almost always events related to coins. Planning ahead for the next Bitcoin halving is a must for serious traders. Other coins are subject to similar changes and events.
Tools like CoinMarketCal are recommended. Similar tools are readily available. Traders use the information they provide when working on a strategy. In fact, buying the rumour and then selling the news is how many traders make money. So having a good calendar on hand also means making more profit.
It’s downright impossible to keep track of all the news in the world. News sites, online magazines, and social media are always adding new content. This is why it’s important to find a way to aggregate all of this data. News aggregation is not as much a tool as a way to condense information. Many popular exchanges provide this information, including exchanges like Binance.
The flux of the market is constantly making headlines. But these headlines are often just for public attention. This is why it’s important to find news feeds with reliable and useful information.
To start, it’s important to be selective. This is accomplished by doing background research. Many news aggregators may not be ideal. In this case, look for the ones that are. And once reliable news sources are found, aggregating them is next. One of the best ways of doing this is with RSS.
RSS is a special type of news feed. It allows traders to link all their news sources together. While this is a lengthy process, it streamlines information to a palatable degree. RSS readers are widely available, and they are simple to use.
It’s easy to take this one step further. In fact, there are some news aggregator sites and platforms that already exist. This makes it much easier to keep up to date. There are many of these to choose from. But as always, choose the ones with the best reputations. One way of finding the reputation of a site is by looking at other user reviews.
Bots are not a new creation. In fact, the internet has been using bots for years. These bots are essentially just automated tools. They are given specific instructions that they carry out. They have many different uses in the world of crypto investment and trading. This is evident by the many successful investors that use bots.
There are two main ways of using bots:
It’s worth keeping in mind that bots are not always reliable. Bad bots will make bad transactions. This will quickly lead to serious problems down the line. And it’s why traders are advised to be selective about the bot software they use. Make sure the software has undergone an audit. This means that programmers have probed the bot’s code. If they find any issues with the bot, they add it to the audit.
HaasOnline has become a well-known bot platform. They have around 5 years in total. And have become popular among traders. They are reliable and provide a wide range of tools. It’s also possible to use these tools to create arbitrage opportunities.
Automated crypto trading is extremely important in the world today. Services like HaasOnline make the process that much easier. And it also gives traders more time and resources to work with. This is also why we recommend automating the process as much as possible.
Tax will always be present. And the invested trader will need to come to terms with that. Instead of fighting the taxman, rather look at ways of embracing it. This includes streamlining the tax process as much as possible. Not only will this help with tax season, but the trader will even be able to save some money.
Like with bots, it’s important to automate the tax process. And by the time the tax season begins, the trader will know exactly how much tax they will be paying.
This is the best tool that a trader or investor will have at their disposal. Here, a trading portfolio represents the successes (and failures) of any trader. This is a great way to keep track of everything that the trader has done.
Managing a portfolio is a must for any serious trader. This can be made a lot easier with many online portfolio tools. Specifically, the ones that are aimed at tracking crypto transactions. This makes it so much easier to keep track of all investments. Including how much money is actually available. These are some great tools for making this happen:
Media hype can make trading more difficult. This is easy to see with negative news articles. An example of one of these is a piece on the decreased value of Bitcoin. Or that fees are expensive. But always keep in mind that many news sources are biased. They will even spread misinformation for clicks. Which makes it important that a trader double check their information.
Instead of reading about Bitcoin or Ethereum’s activity, look at it directly. There will be many different transactions taking place. And it gives a clearer idea of what Bitcoin is doing. This information is useful for making future investments. And it also provides a better overview of the market in general. On top of this, having the right tools makes a huge difference. Many of these tools provide an easy visual of the market and how it’s performing. Don’t be afraid to start using these tools today.
We’ve taken a look at the best crypto tools available. This tool checklist will make you a better trader. They will give you an insight into the crypto market in real time. They will also help you make better decisions. You will quickly become a better trader than most other people.
Keep this guide bookmarked and return to it when you need access to the top crypto tools around.