3 Necessary Tools You Need as a Cryptocurrency Trader and Investor
3 Necessary Tools You Need as a Cryptocurrency Trader and Investor
The past decade has seen cryptocurrency rise to become one of the most profitable business opportunity in the world, due to the facts, millions of dollars have been lost by novices trying to get themselves a slice of the crypto cake. Without the right tools and knowledge, making an entry into the crypto space will mostly be met with heartbreak and disappointment.
In this post, we hold to introduce you to a few tools that can help you navigate the crypto space effectively when properly utilized. And also, having these tools doesn’t guarantee success in the crypto market, these are just tools, and tools in the hands of a master, those same tools cannot be compared with being utilized by a novice.
So, are you are a crypto enthusiast like myself? Or you’ve been hearing a lot about the crypto stuff for too long and you are considering making a plunge into the crypto space, or you are grand master of crypto, just looking for a trivial piece of information to add your your chest of crypto arsenal; whoever you are, I believe there is something fascinating in the post that you’ll learn.
1. Live Prices and other Information
Cryptocurrency is a numbers game where you are constantly faced with numbers based decisions in real-time. So, you need a set of amazing and well design mobile-friendly website and mobile app that can provide you with live crypto prices that will aid in your decision making, and navigate your way to financial freedom.
The Blockfolio mobile application which is available on Android and IOS platform is a very important tool as well, it keeps you up to date with real-time prices of your favourite coin, as well as gives you the values of those coin in any currency in the world. It is an amazing app, that you can also trade with it, and carry out several elaborate functions from this amazing mobile application, while you are on the go.
2. Calendar Crypto Events - CoinMarketCal
As we all know, there can never be smoke without fire, and the same can be said of the crypto world. In this industry, the press and media impact the market to a great extent that it affects prices. So, you will want to be at the right place at the right time when the news drops, and that place is CoinMarketCal which is a community-driven evidence base platform. It is a completely free tool, where you to hear all the rumours and authentic news and the all the cryptocurrency, the upcoming ICO’s.
This platform has garnered a bit of high reputation releasing quality information with the said accuracy of over 90%, remember, they are evidence driven. So, all the content one will find on this platform can be treated as authentic and reliable, as it will act as guidance moving forward in your crypto career.
3. Investing Advice and Technical analysis
Investing is a risky game that attracts all kinds of people, including the dubious ones, on that note you’ll want to have the best technical support available in terms of valid advice and analysis. Investing.com has been around for over a decade, and they are still standing in today’s fast-paced world of digital innovation. They offer valuable information and tools that pertain to the financial markets, this is dished out as quotes, real-time streaming charts, market analysis,
Other deliverables you can get from this outlet is up-to-date financial reports, coin reviews, and many more. You need all the help you can get, as you inspire to become a crypto investor, and this platform is a reliable source of that help.
In summary, it is advisable to have these tools in place if you are a newbie that is venturing into the cryptocurrency space. Before committing your resources to any project, ensure you have a commanding understanding of things, and you’re not investing with all you have. It is a tricky game, you might incur some losses before the big wins come, you want to make sure you are still liquid before those big wins start flowing in.
Most of the platform strives to keep you engaged on their platform, so they try as much as possible to offer all the services they feel every crypto trader needs. What is really required of you is to find the platform that works best for you and stick with it. But occasionally, visit and try other platforms that may be offering better services than the one you might be stuck with.
Remember, this the digital age, and things move almost at the speed of light, a little delay here or a glitch there, you’ll lose a significant amount of your capital for something as a bad or outdated software.
With these tools, you stand a chance of succeeding in the crypto space, but there is not a guarantee that you’ll be successful, it is just a step in the right direction. The main challenge is execution, and you need to invest in getting the right knowledge, and spend your resources wisely.
And to the crypto veterans reading this post, what tools do you find helpful in your daily trading activities in the crypto market? Please feel free to share it us in the comment section.
References
COINSUTRA - 6 Cryptocurrency Tools
HACKERNOON - Cryptocurrency Tools
Thanks for reading!
this is nice advice to beginner traders, most profitable trade is from ICO, but wenmust beware with the risk.
Big risk big gain
Neu vote long sigeu geu
Nice read. I leave an upvote for this article thumbsup
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Great post prof @yandot
Thanks for sharing information
Upvote and resteem from me
I need all of the above. Thanks for such an intresting guide.