5 tools every crypto investor should use for research

5 Tools Every Crypto Investor Should Use for Research

by CNBCTV18.com IST (published)

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Crypto is still a young industry and it can be difficult to get readily available market data, analysis, and advice. Here is a list of tools every investor can use for crypto research:

Anyone who has spent a short time in the cryptocurrency market has likely heard of the term DYOR – do your own research. It has become a mantra in the crypto world and highlights the need for investors to do some digging themselves before putting their money behind the project. However, this is easier said than done, since cryptocurrency is still a nascent industry, and it can be difficult to get readily available market data, analysis and advice. This is why we have compiled an impressive list of tools that every investor can use for crypto research.

1. Market tracker

Market trackers are perhaps the first and most important tool for investors and traders in the cryptocurrency space. They provide price updates, volume data, historical performance information, and many other useful details, all in real time. It provides an accurate snapshot of the market as it stands today and provides a strong base for crypto research. These platforms also allow you to compare coins within different denominations. For example, you can look at the trend data of all the stablecoins or compare the prices of various fan coins. This gives you good insights into a class of projects. Today, three of the most popular market tracking tools are Messari, CoinMarketCap, and CoinGecko.

2. Data collectors

Market trackers give you a good overview of the market, but to go deeper into a project, you will need the help of data aggregators such as TradingView, Glassnode, and Coin Metrics. These platforms provide in-depth analysis of various cryptocurrencies and help you extract valuable insights about their future performance. These sites allow you to plot technical indicators, such as moving average, true strength indicator, price oscillators, etc., for many cryptocurrencies. These platforms also give you a peek at many on-chain metrics like hash rate, transaction data, gas charges, whale movements, etc. Of course, not all of these services are free; You will have to pay a subscription fee to access some of the features and benefits.

3. Cryptographic guides and news sites

Cryptographic data can be complex and difficult to understand. Moreover, understanding the various technical indicators can be difficult if you do not know what they mean. This is where coding guides and news sites come in. CoinTelegraph, Decrypt, Binance Academy, ByBit Learn, Alexandria by CoinMarketCap etc. are all trusted platforms in this regard. It not only provides in-depth explanations of various crypto projects, technical indicators and crypto terminology, but also provides the latest news and updates from the world of digital assets. This helps you to better understand the purposes of cryptocurrencies and keep up to date with the latest happenings.

4. Podcasts

Listening to podcasts helps you gain valuable insights into the crypto market. It allows you to get an expert perspective on various aspects of the crypto project and the industry in general. It also provides a deep understanding of current events and their future implications. The audio nature of the information also makes podcasts easy to follow and understand. On top of that, there are plenty of good podcasts out there, making it easy to find one that suits your level of understanding. Some of the best encrypted podcasts include The Pomp Podcast, Unchained, and Bankless.

5. Forums

Forums allow you to meet like-minded investors and traders. Every noteworthy crypto project usually has a Reddit page or Discord server, where enthusiasts and investors share their views and opinions. You can ask questions related to the project and get quick responses from community members. You can also learn from other people’s questions. Moreover, many projects turn to forums like Discord to get community opinion on improvement proposals, network changes, etc.

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Besides these tools, you can also follow crypto Twitter, subscribe to receive regular market reports from research platforms like Chainanalysis, follow crypto vloggers, etc. This should help you get all the information you need about the crypto project and the digital asset industry. Armed with this information, you can make better informed investments and trades.

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