Trading cryptocurrencies is a highly systematized process that, in addition to your own experience, relies on crypto tools for analytics, forecasting, and automation. Below, we, the Coinband team, will share our own top 10 such software solutions.
Top 10 Tools That Will Help You Trade Cryptocurrencies Like an Ace
So, what are these crypto tools? Let’s take a look at them right now.
#1. Binance
Binance is probably the most popular centralized crypto exchange for spot and futures trading. It is available in both web and mobile versions and is completely free for its users (however, it charges fees for completed transactions). It also has a number of auxiliary features available to holders of the Binance VIP package. Overall, this platform is loved by traders around the world for supporting hundreds of trading pairs and instruments, including spot, margin trading, and futures. There is also a great tool called “Binance Earn” that will help you organize passive income.
#2. TradingView
TradingView is an advanced platform for analyzing cryptocurrency charts, as well as technical analysis of the projects they belong to. In addition to free access to basic functionality, users can also purchase paid Pro and Premium packages. The outstanding features of this solution include support for custom indicators such as RSI and MACD (in total, you can customize up to 25 units), the ability to communicate with other traders within the platform, and integration with a large number of exchanges.
#3. CoinMarketCap
This free solution for monitoring the crypto market allows you to track the prices of thousands of cryptocurrencies in real time, while analyzing trading volumes, their dynamics, and liquidity. There is also a user-friendly calculator for calculating profits and integration with portfolio managers. This tool is chosen by most traders due to its simplicity and comprehensive functionality.
#4. 3Commas
3Commas is a trading bot whose main task is to automate the process of crypto trading. 3Commas offers its users a free trial period, followed by paid tariff plans (from 15 to 50 bucks per month). Among the advantages of this solution are trailing stops, DCA bots (for averaging prices), integration with a large number of crypto exchanges, comprehensive analytics of transactions, and, of course, a user-friendly interface. Overall, if you need to save time on market analysis and execution of transactions, you should definitely consider this solution.
#5. Ledger Nano X
Ledger Nano X is a cold hardware wallet for the secure storage of cryptocurrencies. This is not a free tool and its cost is $149. At the same time, it has extensive support for more than 1,500 cryptocurrencies, enhanced protection against hacker attacks (and, therefore, adaptation to long-term storage of assets), as well as Bluetooth synchronization with mobile applications. Ultimately, the vast majority of users note its ease of use and reliability.
#6. Coinigy
This is another popular tool used to connect exchanges (i.e. as an aggregator). It offers a free trial period, and its paid plans start at $21.95/month. Thanks to its intuitive interface, it provides all the features for comfortable and consolidated crypto trading on several exchanges at once (up to 45 units). Its team of creators also implemented a mobile application with identical functionality and API.
#7. Nansen
Nansen is a powerful solution for on-chain data analytics, the cost of which starts at $149/month. However, here, every cent will pay off in full: with its help, you can track the trading activities of large wallets, perform deep analysis of token movements, and also evaluate DeFi performance metrics in real time. Thus, if you are looking for hidden gems, it will become your indispensable assistant.
#8. CryptoCompare
CryptoCompare is a software solution for end-to-end crypto market analysis and comparison of individual cryptocurrencies. It is absolutely free and provides its users with real-time data on exchanges, crypto coins, and their trading volumes. It is also worth noting that there is an API for receiving market data and a portfolio manager. In general, if you are looking for a simple and intuitive solution for analyzing market data, pay attention to this one.
#9. Skew
Skew is a futures and options analysis tool available through paid subscriptions. Its key features include real-time charts and derivatives volume data, open interest and liquidation metrics, and integration with derivatives exchanges. This makes it a cutting-edge niche tool for experienced traders.
#10. Messari
Messari is a fundamental analysis tool that is available in both free and paid versions (with plans starting at $24.99/month). By choosing this solution, you will be able to view detailed reports on the cryptocurrencies and blockchain projects you are interested in, access to financial and technical metrics, as well as an events calendar. This will make it easier to make long-term investment decisions.
Final Thoughts
If you would like to minimize your trading risks, the list above from the Coinband team of experts is a must-check. We hope that you will find in it at least a couple that will become your assistants in effective crypto trading.
