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    Home»Other»Top 7 indispensable tools for crypto traders
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    Top 7 indispensable tools for crypto traders

    AdministratorBy Administrator10.12.2021No Comments5 Mins Read
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    BeInCrypto editors have prepared a selection of services for crypto traders. It includes top tools for working with cryptocurrencies

    The rapid rise in the value of cryptocurrency attracts new crypto traders to the market – both professional and novice. According to CryptoCompare data, the trading volume on spot exchanges has already exceeded $ 2.5 trillion, and the daily trading high has set an all-time high of $ 16.6 billion.

    Cryptocurrency trading is considered one of the most profitable and effective ways to make money. Special tools help traders to conclude profitable deals. With their help, you can track the price dynamics of a particular coin, copy successful deals of experienced colleagues and predict market behavior. We have collected the top necessary services that every trader should master.

    Analysis and monitoring services

    Choosing a cryptocurrency for trading always starts with a detailed analysis. Special services will help you with this.

    TradingView

    The TradingView analytical service is a must for every investor – regardless of the level of professional training. Experienced traders and analysts post a ton of useful information on this site, including analysis of each digital coin and price predictions. Here you can follow the transactions of successful crypto traders and study cryptocurrencies before including them in an investment portfolio. TradingView also allows you to compare cryptocurrency quotes and track the correlation between assets for a certain period of time: per month, in year or per week to help manage your investment basket.

    CoinMarketCap

    The CoinMarketCap platform collects and consolidates information on the value of assets and trading volumes for various periods of time, and also shows the fluctuations in the price of cryptocurrencies in relation to Bitcoin or the US dollar. CoinMarketCap provides data, including on new cryptocurrencies that are just getting ready to enter the market. In addition, here you will find news about upcoming ICOs and other investment activities.

    CoinMarketCal

    A site with a name similar to CoinMarketCap, but with different content. CoinMarketCal is the largest cryptocurrency calendar. From it you will learn about upcoming releases and launches of new cryptocurrencies. Here you can also attend educational AMA sessions with famous investors and traders and take part in a free distribution of tokens from startups.

    Services for trading

    Most transactions are still made on cryptocurrency exchanges, but specialized platforms and services are also rapidly gaining popularity. They help plan and execute trades or copy strategies of more experienced and successful crypto traders.

    Tiger.Tiger Сopy

    The new Tiger.Trade Copy application from Tiger.Trade, the developers of the professional trading terminal, allows you to automatically copy transactions of other crypto traders. This popular form of social trading is called “copy trading”. Users do not need to select certain “signals”, open or close positions on the exchange manually: all this is done automatically. Tiger app. Trade Copy allows you to copy and earn money, without the need to independently analyze the market, study trading strategies and the prospects of coins.

    Just select a trader (the application allows you to check his historical profitability) and copy his portfolio as a percentage. The predicted profitability is calculated based on real trading statistics, and each transaction is verified on the blockchain.

    Only low-risk transactions and a pool of proven cryptocurrencies are offered for copying. To date, all transactions take place on one of the most popular centralized exchanges, Binance. This can be done even from a smartphone in just a few clicks; mobile applications for Android and IOS will be available in the very near future.

    In addition, the Tiger.Trade Copy application has a stylish and striking design, as well as a memorable logo in the form tiger. You can already apply to be the first to test the copy trading application.

    CoinHills

    An analytical service with a convenient dashboard, which should be at hand for everyone who is seriously involved in trading. With the help of CoinHills, you can track price movements at any given time and track changes in trading volumes on centralized exchanges.

    This service is also suitable for forex traders, as it shows the dynamics of the most popular fiat currencies and their relationship with the crypto market.

    Top 7 indispensable tools for crypto traders

    Services for storing cryptocurrency

    Storing cryptocurrency in exchange wallets is not the best solution. Crypto experts and internet security experts recommend keeping digital coins exclusively in cold wallets. Here are the most popular ones.

    Ledger

    The Ledger cold wallet is the most popular in its segment. The device supports more than 50 cryptocurrencies and is reliably protected from remote virtual attacks at the time of use.

    The manufacturers offer several models of the legendary wallet, but the most popular is still the Ledger Nano X. It is easy to configure and convenient to use, and the new protection system will save your funds from the attacks of cybercriminals.

    Vault Model T Express

    The second most popular cryptocurrency hardware wallet that allows users to securely protect their crypto assets. It is equipped with a touch screen and allows you to confirm transactions even without connecting to a computer. Thanks to this, you minimize the risk of theft of cryptocurrencies from the wallet address and completely control the sending of data to others.

    Resume

    Cryptocurrency trading is a complex and risky activity. However, if you use special services, then you can reduce the risk of losing funds to a minimum. Today, the market offers ready-made trading solutions that do not require special training and allow you to copy successful deals of experienced traders. Therefore, if you are seriously thinking about starting crypto trading, be sure to save this article.

    Disclaimer

    All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website.




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