The hottest topic on the internet is cryptocurrency and blockchain technology. Both of them have brought significant changes to the financial world. Many people are attracted and confused by this trending market.
Investing in crypto can be exhilarating and overwhelming. Since this currency is relatively new, investors do not have the traditional fundamental statistics (statements, balance sheets, earnings reports, etc.) to assess and analyze cryptocurrencies. They are still highly sought after. With the help of cryptocurrency indicators, many people have been able to evaluate market situations.
Here are seven tools that may help you make informed decisions about your investments.
Coinvision
Coinvision is a platform for getting alerts and tips for investments in cryptocurrency. It is a Facebook Messenger and Telegram bot. It specializes in sending daily predictions and information about which cryptocurrency is the most trustworthy. Once you make an informed decision, you can use up your cryptocurrency as per your preference. You can benefit from portals like AutoCoincars that specifically target cryptocurrency users that want to buy used cars for sale, with bitcoin and another leading crypto.
Coinvision is ideal for those who have sufficient funds for investing but insufficient time to research the cryptocurrency market trends. The best part is that Coinvision gives you free advice on trading and good ICOs.
It allows you to join a supportive community that not only teaches analysis techniques but also keeps you informed and active. It will enable you to become a premium member ($34 per month) to get more alerts and access more tools that nobody else has. You can ask any question about possible investments and crypto portfolios. On the plus side, after signing up to become a member, you will be rewarded with $34 in Ethereum. And if you can get a friend to sign up as well, you get an extra $20 in Ethereum.
Coinmarketcal
CoinMarketCal is a cryptocurrency events calendar that is maintained by its users. It lists various cryptocurrency-related events such as new coin launches. Visitors to the page are encouraged to post events and validate it with proofs. Those users who submit information about events are rewarded with Bitcoins for their legitimate contributions. A lot can be gained from merely browsing previously published events.
If you want to be more informed about your favorite investments, Coinmarketcal is the place to be. It provides all types of up-to-date news about specific projects and coins, authentic ones as well as rumors.
Since this tool is a timeline- and evidence-based, 90% of the reports are accurate. Plus, everything is easily verifiable within the community, encouraging individuals to formulate their strategies of buying, selling, or HODL (hold on for dear life).
Coinmarketcap
Keeping on top of the ever-shifting price movements of the cryptocurrency market is a difficult task. CoinMarketCap is a straightforward cryptocurrency tracking site. It offers investors a comprehensive breakdown of current prices of all digital currencies, especially those which are currently generating the most significant amount of traffic.
Nearly all cryptocurrency gives reference links to CoinMarketCap to demonstrate the coins present market value. Data is depicted in a simple, streamlined format and is incredibly easy to understand. This platform provides users with charts and graphs about digital currency pricing, market cap information, circulating supply, 24-hour volume, and the change over 24 hours as a percentage. Every currency has a personal graph illustrating its price fluctuations.
RSI Hunter
As the name suggests, the RSI (Relative Strength Index) is a momentum indicator that measures the extent of recent changes in price. It helps you analyze and pinpoint those cryptocurrencies that are being oversold and overbought, thereby portraying the recent gains and losses.
It is a good researching tool for those who are fresh in crypto trading. The automated tool tracks and updates information of about 195 coins every few minutes. RSI Hunter is continuously bringing new features and improving functionality.
Trading View
Trading View is a social network for active traders to exchange ideas and share strategies. This online tool allows beginners and experienced traders to pick and screen stocks. It also incorporates extensive cloud-based charting tools so that users can research, learn, and collaborate with each other. Trading View allows you to monitor market fluctuations, predict possible outcomes, chat, and ask questions to improve your trading game.
The service offers comprehensive tools through a free account. The app is available on all iOS devices (through App Store) and desktops. Because of its versatility, traders and financial software are preferring to use it more than ever.
Cryptocompare
CryptoCompare is one of the most reliable tools for cryptocurrency and blockchain-related technology. It is a portfolio tracking app that gathers information about currencies that you own, buy, or sell. It provides data about live trading through graphs and charts. This easy-to-use site collects trading information about exchanges, coins, mining, wallets, etc. There are also extensive details about all coins and tokens available on the market.
Blockfolio
This free cryptocurrency portfolio app allows you to track and manage your cryptocurrency investments. Blockfolio is the most popular tool because it will enable users to keep tabs on everything, anytime and from everywhere.
Instead of holding several wallets and logging into separate accounts, Blockfolio facilitates investors by providing a single platform to monitor all the currencies. Data about your portfolio is stored in one centralized location, and the values are tracked across multiple exchanges. This is a huge plus; currently, there are numerous coins in the market and keeping up-to-date information on all of them isn’t easy.
Blockfolio regularly updates its roster with any new coins that enter the market, keeping you aware of any potential investment perks.
Conclusion
Investment should be built on the solid foundations of observation and analysis. Over a thousand cryptocurrencies are circulating in the market, keeping track of their fluctuating prices is a difficult task. That is important for all investors to use a tool before putting money into any project. They provide quick, hassle-free, and relevant statistics about digital currencies. However, be warned that using a tool does not guarantee profits. Just play it slow and safe.