The Best Tools For New Crypto Investors
Investing in cryptocurrency is more than just buying coins and waiting for prices to go up. Staying informed, analyzing data, protecting assets, and choosing the best platforms all matter– especially in a space that moves so fast. If you want to make better moves in crypto this year, these tools can help. They work…
Buying cryptocurrency is more than just buying coins and waiting for prices to increase. Staying informed, analyzing data, protecting assets, and choosing the right platforms all matter– especially in a space that moves so fast. If you want to make better moves in crypto this year, these tools can help. They’re useful whether you’re trading daily, holding long-term, or just exploring your options.
Include a Crypto Newsletter to Your Arsenal
One of the most underutilized tools for any investor is a reliable newsletter. Forums and social media can be noisy or biased. On the other hand, a good crypto newsletter provides you with constant updates delivered directly to your inbox. The best crypto newsletter reveals trends, explains technology in plain English, and often includes expert commentary or case studies. For new crypto users trying to understand the market without getting overwhelmed, a newsletter is a great start. If you’re juggling crypto with other responsibilities, they can save you time and help you discover opportunities early.
Track Your Portfolio
Once you have more than one asset, tracking your portfolio becomes crucial. Prices change by the second, and knowing your profit or loss at any given time helps plan your next move. Platforms like CoinStats, Delta, and Kubera offer mobile apps and desktop dashboards where you can see all your assets in one place. Some also allow you to connect wallets and exchanges for automatic updates. Most of these apps display gains, losses, and allocation by asset, giving you a clear view of what’s working. Some include tax tools or price alerts. If you’re holding crypto for more than a few weeks, a tracker will save you time and provide a clearer picture of your finances.
Check Out Cryptocurrency Cloud Mining Platforms
If you desire passive income but do not want to invest in and manage physical mining equipment, cryptocurrency cloud mining platforms are an excellent option. These platforms enable you to rent computing power from a mining farm and earn crypto that way instead of having your own setup. Popular platforms like JSHash, Genesis Mining, and StormGain offer various plans to meet different budgets, and some allow you to mine different coins like Litecoin or Dogecoin.
Protect Your Assets with Hardware Wallets
Keeping your crypto secure is highly important. Exchanges can get hacked, and online wallets are always at some level of risk because they’re online. That’s why investors turn to hardware wallets, which are physical devices that store your private keys offline. Ledger and Trezor are two of the most popular ones investors consider. Hardware wallets also come with recovery phrases, so even if you lose the device, you can still retrieve your assets using this method. These wallets can support multiple cryptocurrencies simultaneously, making them a no-brainer for long-term security.
Analyze the Market with On-Chain Data Tools
Understanding how people utilize the blockchain can provide you with insight into market trends. On-chain analysis tools like Glassnode, IntoTheBlock, or Santiment help you do just that. They provide real-time data on wallet activity, transaction volumes, and investor behavior. These tools also show metrics like supply held by whales, exchange inflows and outflows, and network growth. While they may require some time to learn, they offer a deeper understanding of what’s really happening behind the scenes.
Automate Your Trades with Crypto Bots
Crypto markets operate 24/7, but as a trader, you need rest. Crypto bots come in handy by executing trades based on pre-set rules. Popular platforms like 3Commas, Pionex, and Bitsgap offer bots for various purposes, including grid trading, DCA, arbitrage, and portfolio rebalancing. Bots can help you reduce emotional trading and stick to your strategy, especially in volatile markets. The right tools won’t make you rich overnight, but they will make managing your cryptocurrency less stressful.
