Cryptocurrency trading involves multiple transactions made via digital currency (also known as cryptocurrency) in exchange for either other digital currency or for traditional fiat currency (such as the U.S. dollar). Cryptocurrency trading has exploded in the past few years and is still a growing field. Investors and even hobby-investors are looking to capitalize on it in a major way.
For those looking to get into cryptocurrency, below are some of the top tools to facilitate trading.
1. CoinMarketCap
CoinMarketCap.com is a goldmine of valuable information on the cryptocurrency market. The front page of their website displays the market capitalization, supply, volume, price, and price change over twenty-four hours of all the important coins on the market. CoinMarketCap also shows the statistics of individual cryptocurrency exchanges.
2. CoinMarketCal
CoinMarketCal is an economic calendar, based on market evidence and driven by the community, for the cryptocoin market. It provides news and rumors about currencies. Because CoinMarketCal is based on market evidence, it is typically more accurate than other services. Investors can use this calendar to monitor events that might affect the cryptocurrency market, and can use the data that CoinMarketCal provides to formulate their buy/sell/hold strategy.
3. Blockfolio
Blockfolio is a cryptocurrency portfolio management app that supports over three thousand different coins. Blockfolio provides global coverage on over eighty different cryptocurrency exchanges, candlestick charts, and a real-time order book for every coin. This app allows users to view all their investments at once and delivers detailed profit/loss information on each coin. Updates from the developers of cryptocoins are delivered through the app, which also provides news on the crypto market, a view of the portfolio in over sixty fiat currencies, and alerts for users to be notified of price fluctuations. Blockfolio can be downloaded for free.
4. MatchCoins
MatchCoins.info helps users understand the potential of coins that they may want to invest in. The website compares different cryptocoins based on the price in US dollars, the price in Bitcoin, the market capitalization, the total supply, the circulating supply, and the circulating supply versus the total supply. MatchCoins delivers data and calculations to find the potential of coins. This valuable research and comparison tool allows users to get a good understanding of current movements in the cryptocurrency world.
5. Coinigy
Coinigy is an all-in-one professional platform for Bitcoin and cryptocurrency trading. This tool facilitates trading for the world’s top cryptocurrency exchanges all in one account. The entire crypto market is visible on one screen. Different exchange accounts and wallet addresses can be integrated into Coinigy and managed from one desktop browser tab or one mobile app. Coinigy provides data on crypto market trends and movements in real-time, lets users set up custom alerts, track and trade multiple pairs over many markets, and even set up orders to execute trades at the right time.
These five tools can be useful for any investor looking to become a successful trader on the cryptocurrency market. By making use of one or more of these powerful tools, investors can make great decisions in the dynamic crypto market.
