The Best Crypto tools: The ultimate list for 2022 to help you to get an edge. The crypto industry is filled with people who can consistently generate a profit and those who don’t and create a loss.
How can that be possible? How does the winner beat the market consistently?
In a very volatile market, where the price changes quickly without a warning, how can people make a profit?
One deciding factor separating the two categories is having and using the best crypto tools available right now.
The right tools will help investors to make more informed decisions, track their portfolios easily, and find the most profitable opportunities in the market.
- 1 Best Crypto tools: The ultimate list for 2023
- 3 Best Crypto Exchange
- 3.1 Remember: a lot of traders lose money because they don’t calculate fees in their trading.
- 3.2 1. Coinbase
- 3.3 2. Binance
- 3.4 3. Gemini
- 3.5 4. SwissBorg (App)
- 3.6 5. Kraken
- 3.7 6. Coinmama
- 3.8 7. Uphold
- 3.9 8. BitMex
- 3.10 For the next paragraphs is time to talk about DEX!
- 3.13 1. Uniswap
- 3.14 2. Kyber Network
- 3.15 3. Bancor Network
- 3.16 4. Airswap
- 3.17 5. 0x Protocol
- 4 Trading platforms
- 5 The best Crypto Wallet
- 6 Best Crypto tools [Tracking App]
- 7 Best Crypto tools [Trading Bot]
- 8 Best Crypto tools [Tax Calculator]
Best Crypto tools: The ultimate list for 2023
The right tools can make all the difference when it comes to navigating the volatile world of cryptocurrencies. From portfolio tracking apps to tax software, there are a variety of tools that can help investors stay on top of their game. The best crypto tools are constantly evolving to meet the needs of an ever-changing market, and those who are able to keep up with the latest trends and technologies are usually the ones who come out ahead. So if you’re looking to make a profit in the world of crypto, make sure you’re using the best tools available. It could be the difference between success and failure.
Best Crypto Exchange
The first thing any investor needs is a good cryptocurrency exchange. Exchanges are where people buy and sell cryptocurrencies, and there are many different types to choose from. Some exchanges focus on a particular type of currency, while others offer a more generalized selection. There are also exchanges that cater to different levels of experience, with some being more user-friendly than others.
One of the most important things to look for in exchange is security. Cryptocurrencies are digital assets, and as such, they are susceptible to hacking and theft. Any good exchange will have robust security measures in place to protect its users’ assets. Another thing to look for is fees. Some exchanges charge higher fees than others, and some even offer different fee structures depending on how you trade. It’s important to find an exchange that charges reasonable fees so that you can maximize your profits.
Remember: a lot of traders lose money because they don’t calculate fees in their trading.
Finally, you’ll want to consider the selection of currencies offered on an exchange. If you’re only interested in trading one particular currency, then you’ll want to make sure that the exchange you choose offers that currency. On the other hand, if you’re looking to diversify your portfolio, then you’ll want an exchange that offers a wide variety of currencies. No matter what your needs are, there’s an exchange out there that’s right for you.
We previously covered exhaustively all the best exchanger pros and cons with this article (https://cryptonewsmart.com/best-crypto-exchanges-of-2022/23) so feel free to dig deeper. Here I’m putting down the resume of it:
Coinbase offers more than 50 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Ripple. The exchange also offers multiple investment options for individual and institutional clients. Some of its account features include staking rewards, iOS, and Android mobile apps, and a Coinbase Earn account option that pays you in crypto assets for watching educational videos.
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This Malta-based exchange was founded in China, in 2017. Binance also belongs to the titular list of credible crypto platforms, having offered their services globally for quite some time now. Binance allows you to buy, sell, and trade cryptocurrency basically the whole thing while only charging 0.1% on trades
When it comes to staking rewards, you can earn from 1-10% for holding different crypto assets over a period of time. For instance, if you held 20 QTUM, you’d earn 1-2% back as an annual reward. If, however, you instead purchased and held at least 0.5 ATOM, you’d be eligible for an estimated annual reward of 6-9%.
With a modular focus on security and transparency, Gemini is another widely-regarded exchange platform that makes it a point to protect its customers first but still deliver positive results. To date, Gemini is one of the only exchanges that offer FDIC-protection on USD deposits.
The exchange also provides a few other notable features: Gemini Wallet, Gemini Earn, Gemini Clearing (brokerage services for off-exchange crypto trades between parties), Gemini Custody, Gemini Pay, and Gemini Dollar (a digital asset backed by US dollars).
4. SwissBorg (App)
Personally, I think it is one of the best exchanges in Europe and unfortunately, not many people know about it.
The brainchild of founders Cyrus Fazel and Anthony Lesoismer, the SwissBorg project is headquartered in Switzerland. The company’s multi-disciplinary and multicultural team members are located worldwide, with members in more than 20 nations.
Get you discount in SwissBorg
The original crypto trading platform, Kraken has grown to become one of the most formidable dealers in the market. It houses a generous archive of coins and tokens for the average trader and then some.
Like the exchanges above, Kraken has 50+ cryptocurrencies with an array of options both for retail investors and institutional investors. But when it comes to global support, the exchange currently supports traders in nearly 200 countries.
The exchange also offers its own futures trading platforms. But institutional clients can take advantage of expert insights, one-on-one consultations, account management support, and more.
Coinmama was launched in 2013 as a cryptocurrency brokerage. Since then, it has expanded over time to nearly 2 million worldwide users spread over 188 countries. However, unlike exchanges, brokerages sell their crypto to investors. The platform currently houses 10 cryptocoin options, including Bitcoin, that they sell at competitive rates.
Another thing worth noting about Coinmama is the convenience of its payment options. Through their platform, you can pay using a debit/credit card, bank transfer, wire transfer, and Apple pay. They do, however, charge a 5% and 5.5% fee on all deposits and purchases respectively.
At Uphold, it is easy to buy and sell Bitcoin and ‘send’ any other major crypto. Choose between 70+ cryptos, national currencies and precious metals. The digital money app features ‘Anything-to-Anything’ trading which means conversion directly from any asset into another – BTC to XRP, – in one single step. Using Uphold has made it easier to convert between different currencies and cryptocurrencies, which also helps make and receive payments to clients and online services around the world.
If you want to really skyrocket with a lot of risks, BitMex is for you. Up to 100% leverage for your trading is a huge potential for very quick and very high profits but also for losses. So be careful and trade only what you can afford to lose.
For the next paragraphs is time to talk about DEX!
Dex (Decentralized Exchange) is an exchange that is not under the control of any company or entity and is mostly powered by smart contracts. Dex is mostly used on the Ethereum blockchain but there are also some Dex on other blockchains like Binance Chain, EOS, or Tron.
As you can see in the table below, the volume of decentralized exchanges has increased a lot in 2020!
Uniswap is a decentralized protocol that facilitates the exchange of ERC20 tokens on the Ethereum blockchain. The protocol is powered by smart contracts and does not require order books or centralized intermediaries.
2. Kyber Network
Kyber Network is a cryptocurrency conversion platform that allows users to convert between different cryptocurrencies. The platform uses a reserve system that allows users to hold multiple reserves of different assets. Kyber Network also offers an API that allows developers to integrate the platform into their own applications.
3. Bancor Network
The Bancor Protocol is a decentralized liquidity network that allows users to convert between different cryptocurrencies. The protocol is powered by smart contracts and does not require order books or centralized intermediaries.
Airswap is a decentralized protocol that facilitates the exchange of ERC20 tokens on the Ethereum blockchain. The protocol is powered by smart contracts and does not require order books or centralized intermediaries.
5. 0x Protocol
0x is an open protocol that allows the exchange of ERC20 tokens on the Ethereum blockchain. The protocol is powered by smart contracts and does not require order books or centralized intermediaries.
What is DECENTRALIZED FINANCE (DeFi) ? Click Here
All good for now?
Are you ready to talk about the most important tool for making money?
Of course, now we chat about platforms!!
What they are and how they work..
Let’s start from the top, shall we?
For trading, you need a platform where you can sell and buy crypto. You can use an exchange or a broker.
Exchanges are online platforms where you can buy and sell cryptocurrencies. Some exchanges only offer cryptocurrency-to-cryptocurrency trading, while others offer fiat-to-cryptocurrency trading (Fiat currencies are the Euro, Dollar, Pound, and so on). There are also some exchanges that offer both types of trading.
Brokerages, on the other hand, are online platforms that allow you to buy and sell cryptocurrencies using fiat currencies. Brokerages typically charge higher fees than exchanges, but they offer a more user-friendly experience.
We already explained exchange platforms so now it’s time to dive into the brokers.
The first thing you need to know is that when you use a broker you are not buying the cryptocurrency directly from the market.
What happens is that the broker buys the currency on your behalf and then sells it to you at a higher price. This difference between the buy and sell price is called the spread.
The second thing you need to know is that when you use a broker, you are not buying the cryptocurrency directly from the market. What happens is that the broker buys the currency on your behalf and then sells it to you at a higher price. This difference between the buy and sell price is called the spread.
The third thing you need to know about brokers is that they typically offer a more user-friendly experience than exchanges. This is because brokers usually have an easier-to-use interface and provide more customer support.
Now that you know the difference between exchanges and brokerages, let’s take a look at some of the most popular platforms.
Coinbase is one of the most popular cryptocurrency exchanges and offers fiat-to-cryptocurrency trading. The exchange is available in 32 countries and has over 10 million users. Coinbase also offers a brokerage service that allows users to buy and sell cryptocurrencies using fiat currencies.
Binance is a cryptocurrency exchange that offers cryptocurrency-to-cryptocurrency trading. The exchange is available in over 180 countries and has over 10 million users.
Kraken is a cryptocurrency exchange that offers fiat-to-cryptocurrency trading. The exchange is available in 48 countries and has over 4 million users.
Bitfinex is a cryptocurrency exchange that offers fiat-to-cryptocurrency trading. The exchange is available in over 60 countries and has over 1 million users.
Gemini is a cryptocurrency exchange and brokerage that offers fiat-to-cryptocurrency trading. The exchange is available in 49 US states and has over 250,000 users.
These are just some of the most popular platforms. There are many more out there, so be sure to do your research before choosing one.
Now let’s move on to the next tool you need in your crypto toolkit…
The best Crypto Wallet
A wallet is a software program that stores your Crypto private keys and allows you to interact with the blockchain. There are many different types of wallets, but the most popular ones are web wallets, desktop wallets, and mobile wallets. Web wallets are convenient because they allow you to access your crypto from any internet-connected device. However, they are also less secure because your private keys are stored on a server that can be hacked. Desktop wallets are more secure than web wallets, but they are less convenient because you can only access your crypto from a single computer. Mobile wallets are a combination of convenience and security. They allow you to access your Bitcoin from any internet-connected device, but your private keys are stored on your phone so they can’t be hacked.
Here a list of best Crypto Software Wallets:
- Best Overall and Best for Security: Guarda Wallet
- Best for Beginners: Exodus Wallet
- Best for Bitcoin: Electrum
- Best for Mobile: Mycelium
- Best for Low Costs: Coinbase Wallet
Best Crypto Hardware Wallets:
- Best Hardware Wallet: Ledger Nano X
- Best Crypto Wallet: Trezor Model T
There are many different Crypto wallets to choose from, so be sure to do your research before choosing one.
Best Crypto tools [Tracking App]
A cryptocurrency tracking app is a software program that allows you to track the prices of cryptocurrencies in real time. There are many different tracking apps available, but the most popular ones are CoinMarketCap, Blockfolio, and Delta. CoinMarketCap is a free app that tracks the prices of over 1,700 cryptocurrencies. Blockfolio is a paid app that tracks the prices of over 5,000 cryptocurrencies. Delta is a free app that tracks the prices of over 4,000 cryptocurrencies.
Best Crypto tools [Trading Bot]
Now this is where the fun begins! Are you ready?
Trading can be very stressful and you need to literally put your face on the computer and watch the charts all the time, looking for the perfect moment to trade. Day trade or swing trade is the same. Charts and patience!
But there’s a small shortcut you can use and it’s using a trading bot.
A trading bot is a software program that allows you to automate your cryptocurrency trading.
There are many different bots available, but the most popular ones are 3Commas, Haasbot, CryptoTrader.
We personally are using 3Commas and all the info you need to know about are in our previous article
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Here we make a small recap of how it works:
You can use the 3Commas platform to trade manually (with expanded functionality compared to traditional exchanges + having all exchanges in a single interface) or automatically once you’ve connected your exchange account with it using API keys. Set up an automated cryptocurrency trading bot on your own, or purchase techniques or signals from outside vendors in the market.
Thus, the three primary items on the 3Commas platform are as follows:
- expanded features and alternatives for manual trading
- automatic trading with bots
- portfolio management market for signals and strategies
For more Info on how it works please check the link above.
Best Crypto tools [Tax Calculator]
A cryptocurrency tax calculator is a software program that allows you to calculate your capital gains and losses from cryptocurrency trading.
There are many different tax calculators available, but the most popular ones are CoinTracker, Bitcoin.tax.
CoinTracker is a free tax calculator that allows you to track your gains and losses from over 30 exchanges. Bitcoin.tax is a paid tax calculator that allows you to import your trading history from over 40 exchanges.
Last but not least you need a chart tool. In order to see better supports, resistances, trends, and so on there are few tools available and some of them are for free!
Kraken owns cryotowat.ch, it’s free and it has a lot of tools and cryptos to watch and follow.
There you have it! These are all the best crypto tools that you need in order to trade cryptocurrencies successfully. So, what are you waiting for? Start using them today, be safe and see your profits grow!
Thank you for reading! We hope this article was helpful. Please feel free to share it with your friends and family.
The Cryptonewsmart team. We do the crypto research for you
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