The best tools for daily crypto trading are essential for any crypto trader to get ahead in the crypto market. In this day and age investing in cryptocurrency is a viable option for anyone looking to secure their retirement funds or even someone who just wants to double their income rather than it stays in their bank accounts accumulating dust. Most people understand only the basics of investing in cryptocurrency rather than the concept of crypto trading itself.
However, the two are relatively different in the way you invest as well as your thought process. Daily crypto trading is the short-term version which is more volatile and comes with a lot of risk. Therefore, trading cryptocurrencies daily requires certain tools to assist in this complex cryptocurrency investment procedure.
The Best tools for daily crypto trading
Here are my top 5 picks for crypto trading tools you will need before starting your crypto trading journey.
All of people who know anything about cryptocurrency are already familiar with this website; very few don’t know it. Nevertheless, neglecting to mention CoinMarketCap in this list would be a punishable offense, so let’s get you introduced or reacquainted.
CoinMarketCap is like a crypto library that has all the information you will ever need on the world’s crypto coins and tokens. This popular website tracks volume, market cap, prices and listings of tokens and coins in the crypto space. CoinMarketCapGives you real-time charts of Bitcoin and the entire crypto market. However, it also stores historical crypto markets and price charts. Therefore, when looking for the best tools for daily crypto trading, CoinMarketCap is a must-have. have a look at our CoinMarketCap article.
2. Ledger Nano S
Everybody knows that one of the most important things to be conscious about when it comes to online investments especially cryptocurrency is safety! One needs to make sure that their investments as well as profits are well kept and cold storage wallets are the best tools for that job (cold storage basically means to store your cryptocurrencies offline and safe from hackers and cyber attacks).
In my opinion, the Ledger Nano S is by far the best hardware wallet you will get right now. The wallet is affordable and supports most of the top cryptos such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum classic, Litecoin and so many more.
CoinMarketCal is one not those tools you just need to have in your crypto tool box. This site is a community driven crypto market economic calendar that is evidence based. CoinMarketCal is your go-to crypto news sources, that you can rely on for authentic crypto news that you can differentiate from inaccurate rumours. It accumulates about 6 months of historical altcoins releases, news reports and updated news on any exciting events taking place in the crypto world. It is a very useful tool which will guarantee you crypto news accuracy to make your informed decisions.
This is a minor and desktop platform that aggregates charts, orders and data from more than 45 cryptocurrency exchanges into one customisable dashboard. This makes life easier for a trader as they don’t have to have a ton of exchanges open at once. Coinigy allows you to integrate your exchange accounts and wallet addresses. It also allows you to set up some alerts for real-time updates. This a very useful tool for the fast-moving nature of daily crypto trading .
Last but not least, this one of the world’s top exchanges that has set the bar high for the trading exchange industry and it has not even existed for more than 3 years. Binance prioritises it’s customers and makes sure all their needs are met. They even have several competitions and prizes for their users and launch innovative airdrops often as well. Another advantage that Binance has is having the lowest trading fee in the industry; not only that but you can actually get a 50% Discount by using their BNB token. For potential or existing daily crypto traders, Binance is worth looking into as a useful trading tool. check out why in our Binance guide.
Conclusion – Best tools for daily crypto trading
Above all are my top picks but there are so many other tools one can use such as; trading bots as well as balancing tools like Shrimpy and 3Commas. Other tools could be social Media platforms like such as Facebook and Telegram where the sharing of signals and other relevant data takes place. Moreover, Twitter is also a quick way of getting news updates, however, you would need to verify the news. Personally, I’ve experienced UFX trading and found it useful, so I can recommend you guys as well.
Having the best tools for daily crypto trading is important from the get go. Do not try to be a super Hero and enter the cryptocurrency world without any relevant tools to assist you; you will be disappointed. With these tools you can make better and more informed decisions.