Trading in the cryptocurrency market is more than just executing trades. There are several crypto trading tools that you need when trading in the crypto space.
Various Cryptocurrency tools can help traders make more profits, boost their bottom line, or give them access to more data so that they can make their trading strategy better.
There are several tools out there, but which tools are the ones that you must have. We've made a list of the top 7 crypto trading tools you should use in 2021 to help you choose better.
Before we start, let's understand these tools' utility and why they are so important. When you are trading crypto, your time is spent analyzing data and deciding what to buy and what to hold.
Using different crypto trading tools helps you change the way you operate, giving you better access to market data, help you find that hidden gem, or stop you from buying overvalued cryptocurrencies.
Best Crypto Trading Tools To Use In 2021
Now let's look at the top 7 crypto trading tools you should use.
Probably the most widely used trading platform in the crypto space today, Coinigy has seen significant growth since its inception. Coinigy supports over 45 exchanges and trading charts. This is more than any other trading platform, giving Coinigy users a considerable advantage over other platforms' users.
Coinigy also stores historical data that developers can use to formulate their trading strategy. An all-in-one trading platform, Coinigy simplifies the process of trading and tracking coins found on different exchanges. It includes price alerts, charting, and app integration, which are all part of the package offered by Coinigy.
Coinigy connects with over 45 exchanges and 4000 markets, incorporating data visualization, live exchange rates, and blockchain analysis. Coinigy is available in Desktop, mobile, and browser apps.
OpenOcean offers traders price comparisons between decentralized exchanges and centralized exchanges, connecting decentralized finance with centralized finance. It acts as an entry point for one-stop, free-flowing cryptocurrency trading between DEXs and CEXs.
How does OpenOcean work? Some users prefer DEXs, while others prefer CEXs. However, thanks to the volatility and price variations between exchanges, users who do not have advanced programming skills cannot take advantage of the prices.
This is where OpenOcean comes in. OpenOcean offers the best prices with lower slippage for DEX users. It does this by utilizing an algorithm called D-star, giving DEX users the best prices with the lowest slippage, all this in real-time.
OpenOcean also compares the best prices on DEXs with the best prices on listed CEXs. Users then have the option to trade on the users' chosen DEX or CEX with their wallet.
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Owned by Kraken, Cryptowat.ch is a premium trading terminal providing users with real-time market data, charting, and trading services. Cryptowat.ch has over 25 exchanges that it provides services for. The data is procured directly from cryptocurrency exchanges through their APIs.
The basic version of Cryptowat.ch is free; users can avail premium features by purchasing them using Cryptowat.ch credits. Some benefits of Cryptowat.ch are
- Users can view their trade history, orders, and their positions on the portfolio page.
- Cryptowat.ch gives users the ability to trade on multiple exchanges from a single trading terminal.
- Users can visualize price movements and market trends with access to a very advanced charting interface. They can also chat with other traders.
- Users can access their balance across multiple exchanges.
These are just some of the free benefits of Cryptowat.ch. Paid features include features like
- Receiving technical analysis, trading volume, and other alerts on email or text.
- Users can use the cryptofinance.ai plugin and pull market data into google sheets.
- Use the Market Data Websocket API to order books and stream prices.
- Users can automate orders using Zapier integration.
OnChainFX allows users to view coin value and market data. It also allows users to customize datasets, with the interface giving users details on the highest gainers and losers in the market during trading sessions. The platform provides a massive amount of information in a simple, easy-to-understand manner.
It lets users access information such as circulating supply, market capitalization, and token supply. Users can also set filters like asset size, type of consensus, and asset sector. Some of the critical features of OnChainFX are
- Users can access historical prices and compare the value of assets over previous years.
- Users can compare the price movements of two different assets.
- The platform also allows users to view the impact inflation has on different cryptocurrency assets. It also shows the estimated supply of a particular asset available on January 1, 2050.
Read More: Learn How to Trade the Cryptocurrency Market
NewsCrypto is the one-stop shop for all the key news and developments in the crypto markets and trading education. It is an excellent platform for both beginner and professional traders, allowing them to learn and utilize technical analysis and apply it across a range of indicators and get a clear picture of the market.
NewsCrypto also allows users to test their investment strategies, acting as a testing arena where users can test their strategies in a risk-free environment. Successful strategies can then be implemented in the real world. Users can also interact with other traders, share strategies and ideas. The NewsCrypto token (NWC) can be interchanged between ERC, Stellar, and BSC chains.
Cointracking.info helps users keep track of their profits and losses for tax purposes. The trading tool can act as a portfolio manager and a tax reporting tool. Cointracking.info can integrate with leading exchanges and pull out the user's trading history, which can then be used to create tax reports.
Cointracking.info supports several types of annual tax reports. It is also an excellent portfolio tracker that can analyze trades in real-time, giving traders an idea of their coins' valuation, gains, and much more.
Cointracking.info supports more than 70 cryptocurrency exchanges and eight cryptocurrency wallets. It also supports popular hardware wallets like Ledger Nano X and Trezor.
Released in 2014, Blockfolio is a mobile-only portfolio tracking app. Blockfolio has solved a basic but significant problem for cryptocurrency enthusiasts and investors by allowing them to track digital assets across different crypto exchanges and wallets. This saves users time by eliminating the need to log into each exchange or wallet to track assets.
Blockfolio has several features, which make it an extremely popular crypto trading tool.
- Users can customize the home page according to their preferences.
- It allows users to view the data of only the coins that they are interested in viewing.
- Users can choose from over 100 fiat or cryptocurrency base pairs.
- Users can monitor more than 8000 assets and cryptocurrencies, with access to detailed stats and price charts.
- Blockfolio's signal service allows users to get real-time updates from the development team of their preferred coins.
Crypto Trading Tools in 2021: In Conclusion
Crypto trading tools are a necessity in today's trading scenario, and using them gives you an edge over other traders and investors. Our list of the top 7 crypto trading tools in 2021 gives traders that use them a significant advantage.
There are several other tools in the crypto trading space that you can use, and the only way that you can find what works best for you is by trying out different tools and strategies.
You can also try the tools from the list above, and you will see that using them gives you better returns and also improves your investment strategy.
eToro – The Best Platform to Buy Cryptos
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.