When we talk about cryptocurrency, its volatile nature is a hot topic. However, this can be mitigated by using crypto trading tools to find excellent trading opportunities.
In the crypto market, prices can go up and down very rapidly. That’s why even seasoned traders utilize crypto trading tools to help them find favorable trading opportunities in less time.
Most newbie traders, however, make the mistake of not using the appropriate tools for their level of experience and knowledge. Or, some may not even be using any monitoring or analysis tools at all!
It is also important to consider that, much like any other market and industry, there are scams that pose themselves as crypto trading tools.
If you can’t spot the red flags, then you’ll lose your hard-earned money.
In this review, I will cover some of the most reliable crypto trading tools that are not only beginner-friendly but also allow you to make smarter trades.
Crypto Trading Tools and Platforms Traders Should Know
The cryptocurrency market is complex, but the patterns can be identified by using tools to help you read the market, make use of price fluctuations, and have an educated decision when buying or selling.
Here are some of the tools that professionals and beginners can add to their arsenal:
Despite being new in the crypto market, CryptoCruisers has great potential to become an excellent trading solution. It is built to make crypto trading easy to understand for people who have no experience at all. The indicators in the dashboard tell you exactly when it’s a good time to buy or sell a coin.
This is one of the most widely used charts and analytics tools in crypto trading.
Their database contains vital information in the cryptocurrency market. It includes market capitalization, 24-hour trading volume, the current price, 7-day price graph among others.
Portfolio management is crucial to track all your coins like price movement and market cap.
I’d suggest using Blockfolio since it lets you check the value of specific cryptocurrencies and keep track of your investments.
They also have a mobile app that allows you to track and monitor your coins whenever, wherever you are.
You won’t have to miss out on any good opportunities to trade your cryptocurrency and gain profits!
Currently, Binance is a platform with some of the most diverse coin pairs options. It has low trading fees plus the platform is easy to use making it popular for many traders.
Many traders are using TradingView because users can view the charts across different financial assets such as stocks, foreign exchange (ForEx), and of course, cryptocurrency.
It has over 100 indicators and allows users to create charts in accordance with their strategy.
Also, TradingView has a forum wherein users can share their ideas and trading strategies. Beginners and experienced traders can gain valuable market analysis and build up knowledge.
How You Can Make a Profitable Trade as a First-timer in Cryptocurrency
Jumping into the crypto trading bandwagon can be a little bit intimidating if you don’t know where to start. For beginners, I would recommend signing up with CryptoCruisers.
The tool has an online dashboard that displays trade indicators in a simple and straightforward manner. It is a great program to start with if you have little to no knowledge of how the crypto market works.
Once you have gained some experience, you can add other tools in your arsenals such as the Blockfolio and CoinMarketCap. With this progression, you can learn different trading strategies and spot valuable opportunities in the market.