Investing in cryptocurrencies may be a thrilling experience. You’ll need to maintain track of your investments once you’ve opened an account with a cryptocurrency exchange and decided how (and where) you want to store your crypto assets. Useful tools for Cryptocurrency investors. Because the cryptocurrency sector is still in its infancy, some of the services aren’t as user-friendly as you might expect.
Fortunately, there are numerous tools for Cryptocurrency at your disposal to assist you. Here are a few free ones worth mentioning.
- The portfolio tracker on CoinMarketCap
Keeping track of your cryptocurrencies can be difficult, especially if you use more than one exchange or wallet.
What is the solution? To keep track of your currencies, use CoinMarketCap’s portfolio feature. You’ll need to add the transaction to your portfolio whenever you buy or sell something. Useful tools for Cryptocurrency Investors. It takes a few more seconds, but it’s well worth it.
As evidenced by the following:
- Your portfolio’s overall performance by day, week, month, and more
- Specific cryptocurrency activity, including your % profit and loss, as well as the average buy price
- Cryptocurrencies with the best and poorest performance
You can also use CoinMarketCap’s tracker to create a watchlist to keep track of intriguing coins, as well as use its other tools to explore cryptocurrencies and learn more about the sector.
- The event tracker on CoinMarketCal
This is a handy tool for anyone who feels like they’re always a step behind when it comes to important crypto events and only learns about them when they make the news. CoinMarketCal is a separate website featuring a calendar of coin-related events, not to be confused with CoinMarketCap’s many products.
Filter by type of event, coin, exchange, and even keyword over a period of time. Members of the community provide information, and useful data is upvoted. To obtain a sense of the types of data that are useful to you, you’ll need to experiment.
Let’s imagine you want to see if any of the coins on your watchlist have any major intentions in the next months. You can choose all of the coins and filter by news kinds, such as partnerships, team changes, and whitepaper updates. You may also see if any new coins will be launched on a specific exchange. Alternatively, you can only look at the highlights to see which coins the community thinks have potential.
- Use the Brave browser
Your time is valuable, and online advertising knows how to capitalize on it. Brave’s browser is a working example of blockchain technology: it eliminates the intermediary from internet advertising. You, not a faceless corporation, are paid for the adverts you see on the internet.
Basic Attention Tokens (BAT) are used to reward users, and they can be redeemed once a month. It also protects user privacy and speeds up the loading of pages. Useful tools for Cryptocurrency Investors.
What’s the drawback? Brave actively removes advertisements from the pages you visit and replaces them with ones that reward you. This means that smaller websites that rely on Google ads, for example, will lose money. You can, however, actively support the content providers you use on a frequent basis by donating BAT to them on a monthly basis.
- Transaction cost tracker for Gas Now
Ethereum’s network supports a wide range of applications, including decentralized exchanges. Users must pay for each transaction, whether trading or staking and the charge increases when there is a great volume of activity.
Unfortunately, this year’s transaction fees (also known as gas expenses) have skyrocketed due to network congestion. In May, the average transaction charge was above $60. Although they have decreased somewhat since then, these fees can still pile up. As a result, it may be worthwhile to wait and do any non-essential tasks during off-peak hours.
The browser plugin from Gas Now might help you accomplish just that. Install it to keep track of your gas bills and cut down on transaction fees.
- CoinCheckUp development activity tracker
One of the most difficult aspects of cryptocurrency investing is determining which currencies will survive in the long run because the sector is so new and there are so many. Research is essential, and there are many excellent sources of knowledge available.
Looking into the levels of developer activity can be valuable if you want to dig beyond news articles and publications. A lot of the open-source coding that’s used in cryptocurrency is stored on GitHub. Useful tools for Cryptocurrency Investors. The number of revisions to a currency’s code, known as “commits,” can be a strong sign of how active the coin is and how many engineers are working on it.
Check out CoinCheckUp to see how active the currency you’re considering is on GitHub. If a coin has a small number of commits, it could indicate that there isn’t much going on behind the scenes. For instance, during the week of July 11th, there were:
It’s not a perfect approach because the data can be skewed when a currency splits in half when a portion of the GitHub community goes in a different direction. However, it’s a useful metric to have in your toolbox.
I’ve chosen five of my favorite free tools, but they’re just the beginning. If you’ve caught the crypto bug and want to diversify your holdings, there are a plethora of apps and websites to assist you. Don’t be scared to take risks and try new things.
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