Crypto Investing
2 Dec 2021

Best Crypto Research Tools for Trading in 2021

Ananda Banerjee

Key Takeaways

  • Traders use crypto apps to exploit the volatility of the crypto market
  • Usage of these apps can give them a much better idea into the technical analysis of various coins
  • Charts, candlestick graphs, moving averages, and other technical indicators are used to figure out the best time to enter and exit positions on the crypto market and make the best returns
  • Some of the best crypto research tools for traders are TradingView, Cryptowat.ch, OpenOcean, CryptoMiso, and others

Crypto Research Tools

Crypto technical analysis is something that traders do to make the best trades in the crypto market. Different online software and techniques are used to make the right calls on the market, enabling traders to make good profits overall. 

Identifying price trends, figuring out the market’s mood, and ensuring that they make safe and high-return bets are the most significant objectives of traders. For fulfilling these objectives, the traders need to make sure that their cryptocurrency analysis tools are up to the mark. Although this may sound complicated, most such devices are designed to be user-friendly and easy to use.

If you are someone who is looking to become a trader, you shouldn’t go to war without the perfect arsenal. In this case, the weapon you use to beat the market is the weapon of cryptoanalysis tools. These tools help to boost your bottom line and make profits off of your trades. 

top crypto research tools

Many traders use these tools to get a clearer picture of the markets and the trending pattern at any point in time. The exit and entry positions of trades are also calculated by crypto research tools, used frequently to get an idea about how various markets react to different news and trader behavior.

Besides, tools like cryptocurrency wallets are also used to store huge amounts of coins. Keeping coins on exchanges has been relatively safe in the last few years. Real-time news that influences the moods and movements of the market is also important to figure out the viable exit and entry points for various crypto coins.

Best Crypto Research Tools

Here are the best technical analysis crypto tools that you can use as a trader:

  • TradingView
  • Cryptowat.ch
  • OpenOcean
  • CryptoMiso
  • CoinMarketCal
  • LunarCrush
  • Shrimpy
  • Ethbox

TradingView

TradingView is by far the most popular charting and analysis tool used by cryptocurrency traders around the world. In recent years, the platform has pushed to integrate its toolset with the most popular crypto exchanges around the world. This makes their results very impressive. The online charting tools that the platform offers are available to both free and pro users. 

For most users who want to start their journey as traders, the free version of the platform is more than enough. The best part about this platform is that there are no new features for premium users. Free accounts still have access to the same professional tools as pro users but are limited to three technical indicators and overlays per chart. 

Cryptowat.ch

Cryptowat.ch is a very comprehensive tool that Kraken owns. Using this tool, traders get access to live-streamed price, volume, and order book data from more than 800 exchanges worldwide. Although first-time users may feel a little intimidated by the number of tools and the size of the platform when they first start using it, it is an incredibly easy tool to understand later.

Cryptowat.ch is a great addition to the arsenal of tools you need to become an expert trader. In addition to giving you information about live exchange data, the platform also includes technical indicators and overlays to make your calls. While they are a little short on indicators compared to other platforms, the best thing about the platform is that they’re constantly updating the experience to make it better for users.

OpenOcean

OpenOcean is a single entry point in the crypto world that can be used to access a very deep liquidity pool that exists across so many exchanges around the world. The platform discovers the best prices and the best way to sell your coins through their algorithm. They also show users the price comparisons so that they have the liberty to make the choices that suit them the most. Traders can also use APIs to customize their own trading interfaces without paying any fees! OpenOcean plans to aggregate a large portion of the crypto market and not just DEXs and CEXs.

CryptoMiso

Investing heavily in a coin without knowing how its developments are coming along can be a recipe for disaster in the investment world. Since crypto coins are essentially software protocols, regular maintenance, development, and constant improvement is critical. Hence, keeping tabs on the developments in the coin you’re investing in is essential. 

A tool like CryptoMiso can help you do that. It is a research tool that ranks crypto coins based on their activity on GitHub. In this way, you can ensure that the coin you’re investing in has some fundamental value in development and maintenance.

CoinMarketCal

If you want to be an active trader in cryptocurrencies and ride the wave, one of the tools that you have to use is CoinMarketCal. The platform is a crypto calendar that updates you about all the upcoming events of different coins. The platform incorporates different community-driven and evidence-based sources that let people add important crypto events. When these events are added, they go through a verification process where the real ones get upvotes, and the ones that seem fake get downvotes. If you’re interested in knowing about events worldwide that could affect a crypto price change, all you need to do is search for the coin on the platform. Voila!

LunarCrush

This is the most reliable social media provider in the crypto community. Crypto prices can go up and down very heavily depending on various social media-related cues. Hence, LunarCrush acts as the integrating platform between social media and cryptocurrencies. The platform uses AI and machine learning to gather information about different coins on social media and reports statistical data on its page. This data is used by traders to predict when one coin is supposed to fall or rise and place their bets accordingly. This information is also used to predict the trends of any particular coin by gathering information related to it.

Shrimpy

Shrimpy is a portfolio management website that allows users to track their investments across all the exchanges that they use. This means that users won’t need to log in to their exchange accounts separately to buy or sell crypto coins. The biggest USP of this platform is that it lets users visualize the overall allocation of funds over different exchanges by using simple, easy-to-understand calculators. This makes it easy for traders to have a bird’ eye view of the investments they’ve made and the different trades they can make to increase their profitability.

Ethbox

Cryptocurrencies work on the blockchain, and one of the most prominent features of the blockchain is that transactions cannot be reversed under any circumstances. There is nothing more painful for most crypto investors than sending crypto to the wrong address and losing those funds forever. With Ethbox, you will never lose your funds again. Quite simply, Ethbox is an escrow service that works with smart contracts to enable the transfer of your ETH safely. While the platform currently only works on Ether, developers are working to make it compatible with other coins as well.

How does crypto analysis work?

Crypto traders are the people who use volatility to their advantage. Solely relying on hunches and intuition can prove to be dangerous, especially when dealing with large sums of money. Thus, crypto traders use a combination of advanced tools to time the crypto market and make maximum returns with minimum risk.
 

Using the above-mentioned tools helps them to understand the short and long-term trends of the market. Chart analysis, wallets, graphs, scores, and other technical indicators make the analysis of crypto coins easier. Most of the aforementioned platforms also support comparisons between two coins, which gives traders further insights.

How to trade in cryptocurrencies?

To trade in cryptocurrencies in India, you must choose a reliable and trustworthy exchange that supports more than 100 different coins and tokens. CoinSwitch Kuber is the top cryptocurrency exchange in India. With our simple and easy-to-use platform, we have amassed more than 10 million regular users on our platform. Not only that. We also make sure that trading becomes really easy for new traders looking to get into the market by educating them on the nuances of cryptocurrencies. Head on over to the CoinSwitch Kuber YouTube channel to know more about trading, making returns, and using cryptanalysis tools to your advantage.

Download the CoinSwitch Kuber app on your phone to begin investing now!

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Ananda Banerjee

Content Writer

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