Every cryptocurrency trader or simple investor requires essential tools that allow the analysis of price movements. Below are five of the most useful tools when trading cryptocurrencies, probably already known to those who have been in the crypto world for a long time, but that could be unheard of by the newcomers, the ones for whom this article is intended.
Price charts, a forum and a community helping each other in the cryptocurrency trading world. The tool focuses on technical analysis and allows users to share trading ideas and create charts.
It is one of the most used platforms by traders because of the many features it offers. Community members on the platform share ideas, providing detailed analysis and price forecasts on different markets.
Although other markets such as forex and stocks are much discussed on the platform, cryptocurrencies are also one of the main topics.
Another of the many advantages is the lessons on technical analysis. A novice trader who is not familiar with technical analysis can learn the basics on this platform.
Several days ago, Trading View also launched a blog on The Cryptonomist.
It is a monitoring application available for smartphones. Blockfolio is one of the best portfolio management apps with over 3000 coins. It is useful to track the value and progress of all cryptocurrencies chosen by the user.
The app offers extensive coverage for traders with over 100 exchanges, charts, candles and near real-time order logging for all cryptocurrencies. It is, therefore, one of the must-have tools for monitoring progress when trading cryptocurrencies.
Blockfolio can also inform traders when a coin reaches a certain price through the simple activation of the notifications. These features can help in making better trading decisions.
The reference website of the crypto world. All the detailed information on each cryptocurrency traded on exchanges can be found here.
The most important data, provided in real-time, are:
- Market capitalisation, which is the number of total coins in circulation multiplied by the current price
- Price, provides information on the value of tokens in multiple FIAT currencies
- Volume, the amount of trading volume made in the last 24 hours
- Amount of tokens, provides information on the number of tokens of a given currency in circulation.
The website lists virtually all of the world’s cryptocurrencies and ranks them according to five key elements:
- development activity
- market capitalisation
- public interest.
Coins are also classified according to the developer’s activity on CoinGecko. This is possible thanks to the public source code repositories.
This information allows investors to have a clearer idea of a particular project and thus to have a broader view of the investment choice.
This website and app focuses its strength on simplicity and security. Coinigy offers:
- Real-time prices from 45 exchanges worldwide
- 24/7 wallet monitoring
- Price warnings that can be provided by SMS or e-mail
Great features that make it an essential app easy to use and install on smartphones.