The Best 6 Crypto Tools for The Beginner Investors 

Ultimate Crypto Tools for Dummy Investor

It is risky to invest in cryptocurrency, regardless of your experience. With the right tools for crypto research, you can get the information you need in order to make informed investment decisions. 

There are many tools that can help you make it easier. These are just a few of the best. 

Crypto research tools are great for anyone, beginner or experienced investor. These are 6 great research tools to help you refine your research before investing. 

First thing first, the blockchain glossary: Consensys.net, is for beginners to learn terms specifically for blockchain and the web 3.0 world. 

1. CoinMarketCal 

CoinMarketCal is my favorite cryptocurrency trading tool. This tool is great for anyone who feels that they are often behind in big crypto events. They only find out about them after they have hit the headlines. CoinMarketCap’s many products are not to be confused with CoinMarketCal, which is a separate website that lists a calendar of events related to coins. 

You can filter the results by date, coin, exchange, or keyword. Community members add information and valuable data is upvoted. To get an idea of the data that is most useful for you, you will need to try it.

2. CoinMarketCap‘s portfolio tracker 

It can be difficult to keep track of all your cryptocurrency, especially if you use multiple exchanges or wallets. 

Here’s the solution: To track your coins, use CoinMarketCap’s portfolio software. You will need to add transactions to your portfolio whenever you buy or trade. This takes a little longer, but it is well worth it. 

You can view: 

  • Your portfolio’s overall performance by day, week, and month. 
  • Activity in specific cryptocurrencies including your percentage profit or loss and average buy price 
  • The best- and the worst-performing cryptos 

You can create a watchlist with CoinMarketCap’s tracker to keep an eye on interesting coins. Then, use the other tools in CoinMarketCap to explore cryptocurrencies and dig deeper into the market. 

 

3. Crypto data aggregator 

Messari is a cryptocurrency data aggregator that provides tons of useful tools for analyzing charts and making better trading decisions. You can customize your research on different coins by using the screener. Messari is free to use. Messari is free to use. However, Messari Pro can be purchased for $24.99 per month or annually. Pro membership provides daily insights, long-form research, advanced screening, charting, and watchlist features. Pro membership allows you to download data to a spreadsheet. 

 

4. My favorite wallets 

Hot Wallet (Online) 

Metamask is one of the most widely used Ethereum wallets. Metamask can be used as a Chrome extension or Firefox browser extension. This is a great feature of Metamask. It makes it easy to send Ether or ERC-20 tokens to web-based decentralized applications. A Metamask wallet is required for most dApps to function. In addition, Metamask also supports other popular chains, like Polygon, Avalanche, SmartBCH, Binance Smart Chain, Arbitrum, and so on. Learn how to setup a crypto wallet here.

 

Cold Wallet (Offline)

My favorite hardware wallet is the Ledger NanoS. The Ledger NanoS is a hardware wallet. This is unlike Mycelium and Exodus. They offer excellent support and a large user base. Additionally, they can handle over 1,000 tokens and coins. Although the Ledger Nano S isn’t free, I highly recommend it if you have more than $500 in crypto investments. 

 

5. Blockchain Explorer 

Etherscan, the most popular block explorer for Ethereum tokens and ERC-20 tokens, is Etherscan. You can view your transactions and network hash rate as well as block data, market capital, market cap, block data, block height, block data, block data, block data, and other information. Etherscan can be used to send Ether transactions and check the network status. 

 

Each coin has its own block-explorer. You can find a coin’s block explorer by going to Coinmarketcap.com and searching for it. Then click on “Explorer” to your left. If a coin isn’t listed on Coinmarketcap you can still find its block explorer by going to Coinmarketcap.com and searching for it. Or, go to Google “Coin name + Block explorer” to the left. 

 

6. Network Statistics 

CryptoMiso 

It is a bad idea to invest in cryptocurrency without checking whether a coin has been developed. You could end up investing in a dead project. Because cryptocurrencies are software protocols they can end up being abandoned if they are not maintained, developed, and improved. 

It is important to keep track of the progress of specific crypto projects. While it’s easy to track them all on Github you won’t be able to track every cryptocurrency individually. That’s why CryptoMiso is a great crypto research tool. 

CryptoMiso ranks cryptocurrencies based on their activity on Github. Based on the most used repository, you can see how many commits a crypto project has made in a given time period. As an example, Bitcoin was ranked ninth in terms of its value when it comes to developing its platform. 

 

Takeaway  

Investors need to be familiar with crypto research tools. You should familiarize yourself with a variety of tools before you invest your money in a specific cryptocurrency project. These tools will allow you to see the price movements of any cryptocurrency project. You will see improvements in your investment strategies once you have decided which tools you prefer, in which order, and finally created a routine. 

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