You wouldn’t go to a gunfight with a knife. So don’t go into the crypto arena without an arsenal of tools.
Why? It’s simple. As many professional traders will tell you, there is a wealth of products out there that can literally help you boost your bottom line.
If we look at the centralized trading markets, experienced traders regularly use trading tools.
These include an advanced charting package to get a clear picture of the markets. They also help you identify an asset’s trending direction, they can help you create your own entry and exit points for a trade, and can help you generate and confirm your own buy and sell signals using technical analysis.
Traders will often refer to an economic calendar to understand the key events and economic indicators that are coming up, with an idea of how they might impact the various markets.
Finally, news is a real tool in a trader’s arsenal. Many traders trade the news to understand what drivers can move an asset’s price. This is also very relevant to crypto traders.
Cryptos are moved more by news headlines (and supply) than anything else.
If Janet Yellen, the Treasurer of the Fed talks in a negative fashion about Bitcoin, then this can really impact the price. Bitcoin, which is the flagship of the crypto markets, tends to be positively correlated to a lot of other crypto assets, which then move in response to Bitcoin’s moves.
If Elon Musk blinks, then the cryptos tend to soar. Coming forewarned is forearmed when investing in cryptos.
The following is a list of the top crypto tools to add to your daily arsenal for either trading or investing in cryptos.
Atani – Anyone that has ever opened (or tried!) to open an account for a digital exchange or wallet will know the meaning of pain and frustration. The KYC process is certainly arduous and time consuming, plus there is rarely anyone to speak with.
Atani have done an excellent job in solving this issue with 1 login to over 20 leading exchanges, across one interface. It’s simple, it’s easy and it solves some real pain points for crypto investors.
Main features include:
- The ability to trade across 20 exchanges, to compare prices on one screen and pick the best.
- You can get training notifications via SMS, over the phone or email, to alert you to new trading opportunities.
- You can conduct in-depth technical analysis across more than 1500 cryptos, and over 9000 pairs.
- Track trends and perform technical analysis on 1,500+ cryptocurrencies and 9,000+ pairs
- You can download instant tax reports when it’s time for your tax return
- Plus, it allows you to trade securely, as Atani can’t access your funds or API keys, and you can remain completely anonymous
OpenOcean gives users a single entry point to access a deep liquidity pool across many decentralized and centralized exchanges. They discover the best prices out there by way of their smart algorithm, and show users price comparisons.
Traders can use APIs and customize their own trading interfaces to help with their own investing strategies. Individual users do not pay any fees, while institutional users will pay for tailor-made interfaces in order to execute their own strategies.
OpenOcean plans to aggregate much more thgan justs DEXs and CEXs, and is planned to be the first “full aggregator” of Defi, Nfts and crypto trading.
ethbox – Never lose your funds again! Nothing more painful than sending crypto to the wrong address. Chances are you will never get it back, and if you are trying to recoup a mistaken transaction via a digital exchange, at best you will have to pay through the nose for your mistake.
ethbox has come up with a genius way of ensuring you never send funds to the wrong address again.
Quite simply, it is a digital escrow product that works with smart contracts for transferring your Ether easily and securely across the Ethereum blockchain. They are working on developing this feature across other blockchains too.
Stacked Invest– This company offers prebuilt strategies and portfolios that investors can invest in. The company which is built from experienced traders and hedge fund managers who do all the legwork for you in building these strategies.
They are constantly monitored and optimized and this is a suitable product for beginners or more experienced investors.
StackedInvest links with most of the major digital exchanges, so you can choose yours from a list or open a new account and link it to your StackedInvest account.
NewsCrypto – This platform is already making a splash in the crypto sphere as a one-stop shop for training education and the key news moving the crypto markets.
It is suitable for all levels of trader and also helps them to learn and utilize technical analysis across a wide selection of indicators, to get a clearer picture on the market.
It also functions as a demo account where you can test out your own strategies in a risk-free environment before replicating them in the real world.
Somewhat of a trading community, NewsCrypto enables you to engage with other like minded investors to share ideas. This company offers its own token the NWC which can be interchanged between Stellar, ERC and BSC chains in a 1:1:1 ratio
CryptoTaxCalculator – The best tools or protocols on the blockchain are often those that solve real-world problems. CryptoTaxCalculator was created after the founder ran into tax calculation problems following the 2017 Initial Coin Offering (ICO) boom.
The latest version was launched in 2020 with the goal of helping investors to calculate their tax liabilities arising from their crypto transactions. The user interface is simple and easy on the eye.
It currently supports 100+ exchanges and that number is growing fast. Users can upload their data fast using an API or CSV files. They are able to review their data and then calculate their tax liabilities at the click of a button.