Unless you are one of the few investment savants who doesn’t need the help of any external tools or data to make your trading decisions, it is more likely than not that at some stage you will need to use a tool to help you trade and invest in cryptocurrencies.
For the beginner trader in particular, these tools not only help to devise, plan and execute trades, they also provide an educational function. They are especially important for this type of trader, given that it can be tempting for novice investors to jump right into the crypto world without having sufficient knowledge and without a clear sense of what they are doing.
Much like any other form of investment, however, investing in cryptocurrency is ultimately a highly risky venture. These risks are amplified if you haven’t performed sufficient research or lack the ability to analyze and understand market movements.
However, if you are armed with the right arsenal of trading and investment tools, you will be able to mitigate some of these risks and to gather all the information you need to make a sound investment decision. In this short article, we will take a look at some of the best and most useful tools that will help you to invest in cryptos. These will help you to analyze Ethereum price movements and a range of other tasks!
What are crypto tools?
When we refer to crypto tools, we are talking about a wide range of products and services that can be used to help investors and traders build, watch and manage their cryptocurrency portfolio.
This could include everything from portfolio tracking tools to charting tools. It might also cover AI-driven tools that analyze your portfolio and help you to make better investment decisions. There are a wide range of these tools out there, each of which is designed for some specific function, and tailored to the needs of different investors.
Crypto Pro: A must-have for the privacy obsessed crypto investor
Crypto Pro is a tracking tool that also allows you to trade in addition to monitoring your portfolio. It is designed to be as privacy friendly as possible and has built in TouchID and FaceID lock. It also has the ability to encrypt your data and to store it locally, rather than in the cloud.
Crypto Pro is built with privacy in mind from the ground up and the developers will never unnecessarily collect your data or sell it to third parties. Use this tool to seamlessly track your ETH portfolio!
Accointing: Manage your portfolio and simplify your tax obligations
In addition to having a killer portfolio tracking feature, Accointing allows you to simplify the tax side of your investment portfolio.
As the saying going: the only two certainties in life are death and taxes. So, you might as well make tax season as simple as possible. Accointing will help you to generate location- and region-specific tax reports to make tax season a little bit less stressful.
Messari: Aggregate data and crunch the numbers more easily than ever
As hinted at earlier, planning, devising and executing a crypto trading strategy takes a significant amount of research. Thankfully, Messari is here to help you aggregate important crypto data and to analyze it with useful charts. This will allow you to make better, more informed trading decisions that are data driven.
Messari is available in free and premium versions and is an excellent investment if you are hoping to learn more about the movements of the crypto markets and to implement this information in your trading strategies. This might include, for example, Ethereum price movements.
Take advantage of the cutting edge technology behind Messari and improvement your trading today.
LunarCrush: Draw on your social networks to power investment decisions
LuncarCrush is a self-described “social intelligence” platform that trawls social media networks to gauge market activity, transaction data and investor sentiment. This provides real-time insights into the wider market sentiment and also allows you track the prominent investors, coins and exchanges that are the most useful to you.
Coin Metrics: Classic data insights to power your trading strategy
Coin Metrics provides financial intelligence, market data, index data, network data and more on the cryptocurrency sector. It is a news and intelligence platform that gives you access to hundreds of assets and metrics. You can display this information on charts, which can be used to develop data-driven trading strategies.