Top 10 Crypto Trading Tools

Trading, in general, can be really tedious at times and might even take a toll on your mental and emotional health. Throw in the volatility and unpredictability of cryptocurrencies, the complications, and concern for risk management raises to another level.

Although crypto trading is known for greater profits, it also brings its own set of risks. However, one can always lower the risk by making use of the right tools and the right mindset. There are a range of crypto tools available with just a few clicks away aimed to make your crypto trading easier and stress-free. Therefore, let’s delve into the top 10 crypto tools handpicked by our crypto trading experts.

1. Datamish (longs/shorts data)

Datamish is a sentiment analysis tool that helps traders identify long/short positions for all major cryptocurrency. To understand sentiment analysis, we need to first understand different kinds of analysis. Basically, there are three types of analysis in the market:

Technical Analysis : Identifying trade opportunities by emphasizing on historical data such as price chart and volume.   

Fundamental Analysis: It’s another methodology of predicting price by examining news around the asset or in case of Bitcoin – looking at difficulty, hash rate, number of transactions, and their value. 

Sentiment Analysis: This type of analysis leverages the oversold or overbought condition of an asset to predict the market movement.

There comes in the picture – Datamish. It leverages the info provided by Bitfinex to analysis the market sentiment for short and long positions. Using this tool, crypto traders can analyze the market sentiment and base their trading decision to make the profit.

2. LunarCrush (social network data)

LunarCrush is another crypto tool that aims to help traders make informed decisions by delivering community insights. With the help of APIs and using crypto-specific machine learning, it can process social network data volatility, price score, and numerous other factors to help crypto traders decide whether the underlying asset is bearish or bullish. LunarCrush also offers a library of apps that can prude additional insights for crypto traders by collecting and processing community data.

3. Coincodecap (code data)

Coincodecap provides a range of services for crypto trading including code analysis, reporting, and APIs. However, their focus is ranking coins based on GitHub activity. The platform helps crypto traders in discovering the best products based on the reviews. These trading tools include portfolio management, charting, trading automation, and multi-exchange trading. Besides trading tools, Coincodecap also helps crypto investors and traders in discovering products across a category of finance, security, analytics, commerce, mining, development, and HR.

4. CoinMarketCal (calendar of events)

Coinmarketcal is a crypto calendar tool that helps the traders to anticipate a change in cryptocurrency’s price depending upon the market sentiments. It’s a community-driven calendar thus relying on its users to rate and vote on events that may be real or false. These events such as coin burns, partnerships, staking, token release, etc often lead to an increase or decrease in a token’s price depending upon the impact of the event. Therefore, Coinmarketcap helps crypto traders to make the right decisions by providing reliable cryptocurrency news.

5. CoinTracking (crypto portfolio tool)

CoinTracking help traders in generating tax reports with their crypto trading. It lets crypto traders easily import their trades from 70+ leading exchanges with API’s and avail them tax declaration forms with adjustable parameters for all countries. Additionally, CoinTracking also offers personal analysis with interactive charts for trades and coins, realized and unrealized gains as well as profit/loss and audit reports.

6. CoinGecko (cryptocurrencies information)

If you’ve been trading cryptocurrencies for a while, it’s less likely that you haven’t heard of CoinGecko. It’s a well-known name in the world of crypto since it’s inception in 2014. CoinGecko is one of the largest data aggregators and claims to keep track of roughly 5000+ tokens from 350+ cryptocurrency exchanges around the globe. Besides the fundamental analysis of the crypto market, CoinGecko platforms also offer community support helping traders to keep an eye on market capitalization, major events, open-source code development, and on-chain metrics across the range of crypto projects.

7. CoinSpectator (cryptocurrency news aggregator)

CoinSpectator is a real-time crypto news aggregator platform aimed towards traders and investors to keep track of the news around the crypto industry. It helps crypto traders in providing a one-stop platform for everything happening in the crypto world from thousands of mainstream as well as blockchain-specific news sources. Thus, allowing traders to quickly act on market volatility and sentiment.

8. Coin Metrics (all-in-one crypto financial data provider)

Coin Metrics is a financial data provider aiming to help crypto traders and investors to understand the value of any crypto asset before investing. Founded in 2017, Coin Metrics relies on the public blockchain and crypto networks to offer data and insights into the future of open, decentralized, and trust-distributed economy. Crypto traders and investors can make use of this data to further analyze and interpret as per their requirements.

9. TradeSanta (free trading bot)

When it comes to trading, it’s practically impossible to factor in human emotions while making trading decisions. However, there’s one way to tackle the issue – making use of the trading bots. TradeSanta is one such platform that leverages the trading bots to take advantage of market fluctuations and make profits.

Traders can set up their bot with easy steps without the need for coding and keep track of the market without losing their sleep. TradeSanta also boasts a large community with 70,000+ active users and over 15,000 trading bots. Additionally, these trading bots have completed over 2.5 million deals so far.

10. 3Commas (smart trading terminal and auto trading bots)

3Commas is yet another trading bot platform that offers tools for crypto traders to maximize their profit leveraging the auto trading bot technology. It offers a simple and intuitive interface, supports 23 exchanges, a smart trading terminal, and auto trading bots to make your life easier as a crypto trader. Now, you can sit back and relax while your portfolio rises day by day.

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Written by Narender Charan

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