Cryptocurrency has well and truly taken the world by storm. People everywhere are ditching stock trading and other assets to invest in cryptocurrency and make long-term profits. Being the most popular investment currently, it is no wonder that everyone wants to jump on the bandwagon and get started on their crypto journeys.
Unfortunately, this often causes people to enter the crypto world without sufficient knowledge and research, which can be disastrous to your financial conditions.
Instead of letting FOMO drive you to bankruptcy, you should first check out these must-have crypto research and trading tools for new investors. These will help you play smart and safe, two of the most essential components of crypto trading!
Table of Contents
Although cryptocurrencies are digital assets with no physical presence, you will still need a cryptocurrency wallet for easy access and availability of your investments. These wallets are software that contains your private access information for the cryptocurrency you’ve bought instead of holding the coins themselves. This allows investors to securely buy, sell and use their cryptocurrency as they see fit.
When we consider different cryptocurrency wallets, you will probably be forced to choose between security and accessibility. Most of the highest-protected wallets aren’t easy to access. On the other hand, easy-to-use wallets usually come with security faults.
That’s why we recommend hardware wallets to ensure maximum accessibility without risking the safety of your investments.
Market Stats Tools
The next tool you will need allows you a closer look at all the market stats and predictions for profitable investing. Think of it this way, before you go ahead and trade a stock, you will look at its trading volume, market cap, and other relevant information before going ahead. Similarly, you need these stats and reference points to help you understand the market and its trends as a whole. For example, the trading bots on Binance are very efficient to research about the market and help the trader to make the accurate decision.
Here are some crypto stats to consider before you make an investment decision:
- Circulating supply
- Market capitalization
- Max supply
You should make sure that the market stats and research tool you pick out provides insights on cryptocurrencies and exchanges. They should cover everything from price and volume to block explorers, technical documentation, and more.
The Bitcoin Prime
Next, we have The Bitcoin Prime, a trading app that takes your cryptocurrency investment experience up a notch. Using this trading app, you not only make your bitcoin trading faster and more efficient, but you can also swerve past any security threats. This app only requires a few minutes to set up, and then you can carry on with your daily life while it works to help you maximize your crypto earnings.
What we enjoyed most about this app is its ease of access and availability over different platforms. You can visit Bitcoin Prime system on your computer or download the app for use from any part of the world. This app works by managing particular trading parameters as per your preferences and then using these to look up trades in specific markets.
Here are the biggest benefits of using The Bitcoin Prime;
- Perfect for beginners and advanced crypto-traders
- Offers regular updates.
- Low-risk means of crypto trading.
- Ensures maximum safety.
Lastly, you need blockchain explorers and analytics tools to get to deeper analysis and understanding of the world of cryptocurrencies. Most investors don’t really take the time to dig quite this deep, allowing this extra step to give you a significant leg-up in your trading and investing game.
Your blockchain explorer will give you raw blockchain data, including transactions amounts, miners, hash rate, and timestamps. All of these factors can then be used to optimize your trading decisions for maximum gains!