As crypto investing and trading become increasingly popular, many people take an interest in the field of crypto. However, it’s not always easy.
Here are some tools to make your crypto investment journey smoother!
1. Hardware wallet
A crypto wallet is where you store not your crypto coins but rather your public and private keys. There are many types of crypto-asset wallets: paper wallets, desktop wallets, mobile wallets and so on.
However, the safest one of them is a hardware wallet. These usually look like USB devices and, in contrast with other wallets, it is paid.
There are no registered crypto thefts from hardware wallets yet and if you’re serious about your crypto coins, you should no doubt buy one. At the same time, if you don’t want to spend that much money on a hardware wallet there are other options.
CoinStats infamously released a hardware wallet smartphone app, which is guaranteed against hacks and has military-grade security. It is a free application for both Android and iOS.
1. Crypto portfolio tracker
A crypto portfolio tracker is a tool used by investors to manage their crypto holding. Of course, you can use a google sheet or an excel sheet․ However, this will become too time-consuming, especially if you have a diversified portfolio.
here are two types of crypto trackers – web and mobile. Mobile trackers are considered more convenient since they are easier to access.
Crypto portfolio trackers will help to track your portfolio, the value of cryptocurrencies and other useful information. These tools now have many advanced features like news aggregators, personalized notifications, smartwatch extensions, multiple portfolio support and so on. The news aggregators can give you a lot of insights and show you xlm, trx, tron coin news and more.
They will make your trading much more efficient and hassle-free. Every detail about your portfolio will be at your fingertips.
If you want to use a crypto portfolio tracker, but don’t know how to, here’s a great guide to using a cryptocurrency tracker.
1. Market Data Tools
As an investor, you should always keep an eye on the market, trends, new rising coins and so on. You can use crypto trackers for this, however, there are many websites that will offer you a very in-depth insight on the market history, top coins, market cap, circulating/total supple, graphs and so on.
This information will be very useful for investing in the right coins and making more accurate predictions based on the historical data, graphs, market cap, total supply and other important factors.
1. Crypto Tax Tools
Crypto coins have been unregulated for years, however, now things are changing and many countries are passing new laws and regulations around crypto-assets.
Currently, crypto transactions are taxed in some countries and reporting your crypto income and profits becomes mandatory. Tools like crypto tax calculators can help you deal with tax calculation which can be a pain in the neck in many countries around the globe.
Overall, these tools are designed to make your crypto trading experience better, but they won’t replace a good investment strategy.