As mentioned in one of our earlier blogs, failing to do proper research when investing in cryptos can be costly. Therefore, it is crucial to use the right tools to give you detailed market insights.
Whether you are a beginner or experienced, trading tools can be quite helpful as you develop your trading strategies. With several charting solutions in the market, it’s easy for investors to find themselves caught up in uncertainty on which tools to use.
While most of them are extremely important, some of the top crypto trading tools that should definitely be in your arsenal.
TradingView
You can’t afford to trade cryptocurrencies without a touch of TradingView. The platform has a simple user interface and comes with a handful of powerful tools to help traders publish and get access to new trading ideas.
The website occupies a central place where online traders meet and share their trading ideas for better trading. The availability of real-time data and charts let users do their research wherever they are at any time.
Although TradingView has a free account available for everyone, users can also subscribe to a Pro account. The paid account offers more advanced features to help users perform technical analysis of various markets.
Coinigy
Coingy offers access to over 45 crypto exchanges, making it ideal for traders who deal with multiple platforms. The charting tool hosts an array of features that are easy-to-use for all traders. They include:
- Real-time market data
- Feature-rich spot trading
- Portfolio management tools
- ArbMatrix plugin
In addition to using similar indicators like those of TradingView, it allows users to set up email and SMS alerts, keeping you a step ahead in the game.
CoinMarketCal
To make better trading decisions, accessing reliable news and updates can go a long way. Yet, finding a platform that can offer you accurate market trends can be a challenge. With CoinMarketCal, you get access to all the breaking crypto news, press releases, and trending updates. This helps predict market shifts more accurately.
Moreover, users can set up alerts on the website to keep you in the loop about the most recent developments in the crypto market. Also, you can rate how reliable the news is, and as a result, help others in the process gain better market insights.
3commas
3commas is equipped with dozens of features, but perhaps the most outstanding one is the online trading terminal. The interface allows traders to execute trades through financial intermediaries like a broker or an investment bank.
With 3commas, users can connect various currency exchanges such as Bittrex, Binance, and Poloniex all in a single interface. They can also perform their trading activities simultaneously on all of them.
Cryptowatch
Cryptowatch is another free crypto charting site that every investor should use. It allows you to track your digital currencies by accessing live stream prices and order book data on various crypto exchanges like Coinbase Pro, Bitfinex, Bithumb, and Bittrex. This website was developed by Kraken.
Cryptowatch helps traders analyze, and keep tabs on the performance of over 2,000 crypto markets across diverse crypto exchanges at once. Upon visiting its website, Cryptowatch has a dashboard that can seem intimidating. But it comes with simple, easy-to-use features that are suitable even for beginners.
What’s more, with this platform, you can get clearer market insights using data visualization resources. Furthermore, traders can create alerts for prices, volume, and order flow to keep them informed all the time.
eToro
Sometimes when traders run out of ideas, the only thing that could act as a catalyst is by seeing what other successful traders are investing in. This is where eToro comes in. Unlike other crypto trading tools, eToro has both manual features as well as social trading tools.
Due to its social trading nature, users can track other investor’s trading activities and replicate them in real-time. eToro performs its operations with full transparency, showing trader’s various data such as risk score, portfolio composition, and percentage gain.
The availability of CopyPortfolios means that users can now enhance their skills for better trading. This feature aims to reduce long-term risk while promoting growth opportunities, taking the business of copy trading to a higher level.
CoinGecko
CoinGecko uses several ranking factors, including liquidity, market capitalization, public interest, and developer activity, to help list the best performing cryptocurrencies in the market. This app also allows crypto users to track the popularity of their favorite cryptocurrency. All of the features are offered for free!
What makes CoinGecko unique is the fact that traders can track the engagement rates of each cryptocurrency. This, along with extra information like historical data and details about mining difficulty, makes CoinGecko an ideal tool for traders of all experience levels.
Final Thoughts
When trading, the worst mistake you can make is relying solely on your intuition. By combining your knowledge with the above tools, you put yourself in a better position of improving your decision making. With that in mind, it’s also important to perform your own research outside the crypto trading tools mentioned earlier.
