With thousands of different projects and hundreds of different exchanges, cryptocurrency investing is becoming increasingly complex. Given that the majority of cryptocurrencies are down anywhere from 60-90% from January highs, this is now perhaps the best time in over a year for investors to begin analyzing the market to find the top opportunities.
While tracking individual projects is perhaps the most ideal method of investment and trading due diligence, the task is very difficult with all of the noise in the space that often leads to information overload. Therefore, investors and traders should look to find tools that help them focus their efforts and find the best opportunities.
Here are five tools that are designed to simplify the crypto market.
Delta | Portfolio Management App | Desktop and Mobile app
Description: Delta has branded itself as the ultimate Bitcoin and cryptocurrency portfolio tracker app with over 2,000 altcoins available from 70+ exchanges. While it does offer a paid subscription for premium features, Delta is otherwise completely free to use, providing investors with a number of useful tools to track and analyze their portfolios. Delta now has over 1 million active users on its platform. (more)
Arbitraj | Investing Arbitrage | Website and Chrome Extension
Description: Arbitraj has built a web-based app and Google Chrome plug-in that demonstrates the price spreads for cryptocurrencies while users browse through exchanges. So far, the trial of this app has been conducted with a group of around 500 beta users. The transaction platform aims to allow individuals to take advantage of the pricing differences rather than simply displaying the spreads. (more)
TradingView | Technical Analysis | Website and Mobile App
Description: TradingView is a web service and social network for traders, with a platform for technical analysis. For investors that make like to trade based on technicals, there is no better platform for tracking the latest trends and trading signals. TradingView leverages a freemium model, with a set of various premium subscriptions that provide enhanced features.
AltDex | Cryptocurrency Index Platform | Website
Description: AltDex brings an industry-first set of market capitalization-weighted indices that cover multiple digital asset categories. Included in the launch is the AltDex 100 Index (ALT100), the AltDex Exchange Token Index (ALTEXC), and the AltDex Privacy Coin Index (ALTPRV). AltDex enables traders to actively monitor coin categories to find the best live investment opportunities.
The AltDex indices went live on July 9, and are actively monitored by the managing team, which plans to rebalance each index on the first of each month. (more)
Coindar | Cryptocurrency Events Calendar | Website
Description: Coindar is a web-based cryptocurrency events calendar that creates a direct line to developers of various blockchain projects. Designed to be utilized on a desktop, the calendar creates an ecosystem that allows users to efficiently display meetings, add technological updates, or report milestones, among other tasks that are published primarily from official sources. (more)
Trading the crypto market is no easy task, and investors should look to equip themselves with the best possible tools in order to get a leg up. While the five tools described above are definitely useful additions to any trader’s toolkit, this list is by no means all-encompassing and the smart trader should always be on the hunt for the latest and greatest.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.