Whether you’re trading, investing, or doing anything related to crypto, the chances are you want to make it as efficient as possible. Which is why the best crypto trading tools are so crucial. In this article you will spot useful tools related to crypto — be it project analysis, data comparison, insights & discoveries, and more.
What Are Crypto Tools?
Imagine your car is broken and you don’t have any instrument at hand nor you can fix it without help. You call a mechanic and he arrives without a tool kit. Your reaction?
Even though you’d look for someone with car modeling knowledge to fix it, a tool kit wouldn’t hurt as well. Obviously, you expect him to have a proper set of tools to perform repairs.
You can also fix a car by yourself, especially if you have required knowledge and some experience under the belt. In both cases, you would need tools. This is also true for cryptocurrency trading, investment, analysis — you need to understand the basics, and the tools can help you do it.
There are many ways to break down crypto tools by classes, utility, etc. The most popular type of tools is on-chain data products, followed by aggregators (blockchains, projects on these blockchains, BTC/ETH metrics, etc.) NFT platforms, DeFi tools, TradFi & Web3 FinTech hubs, and more. Twitter accounts doing macro, micro, NFT, etc. analysis of all sorts are also popular among the crypto community.
More specifically, this article will describe the best CEX and DEX exchanges, trading platforms, charting tools, market data & news aggregators, network statistics, event calendars, research reports, trading bots, crypto tax tools, portfolio trackers, rebalancing & Web3 wallet tools, mining hubs & calculators, and blockchain explorers.
Why Every Investor Needs Crypto Tools?
Both investing and trading require constant analysis and monitoring related to your portfolio and a broader market. Exchange participants need to track and record all their deals to spot mistakes, fix them, and improve results over the longer run.
Tracking and analyzing data is nearly impossible without additional tools like project aggregators, on-chain data hubs, comparison tables & graphs, upcoming drops & initial offerings and much more. Unless you use crypto tools, investment might be haphazard and results in a somewhat uncertain best case scenario. Even though crypto exchanges provide a trading terminal and charting tools, their capabilities are quite limited. Therefore, investors and traders need additional tools described in detail later on.
Best Centralized Exchanges (CEX) Tools
Binance is the largest cryptocurrency trading platform in the world. There are many reasons why, but robust trading pair selection, high liquidity, and fairly low commissions take the lion’s share of the job.
The company operates actively through Web3 space, investing in new projects, supporting ecosystems, and developing its own products. One of the major related projects is Trust Wallet, which tends to compete with Metamask. Binance is also a strategic investor to core blockchain projects like Polygon, Solana, and more.
High liquidity and low commissions garner global attention, but are those reliable over the long run? Pretty much, as Binance has its native coin called BNB which faces a big demand for quite a while. BNB is the part of a large ecosystem, someone might even call it too big to fail.
User-friendly interface and content also play a big role, as newbies coming in can experience a steep learning curve with Academy, Blog, and NFT sections. All the factors mentioned generate the flywheel effect, attracting even more users over time.
- Low fees and discounts for BNB holders
- A wide range of crypto tools and assets available
- Multiple services related to crypto
- No minimum deposit to start off
- Fairly easy to open an account
- Fiat and crypto deposits
- Not available for US citizens
- Large corporate, highly centralized
Coinbase is another large company. Even though it’s not as large as Binance, Coinbase dominates the U.S market and has been recently listed on stock exchanges, showing big ambitions and plans to conquer the rest of the world somewhere in the future.
At the moment the exchange provides over 100 tradable assets, while the user count approximates nearly 100 millions holding > $250 billion worth of assets. Just like Binance, Coinbase invests in existing projects, supports established ecosystems and spreads its own products like Coinbase wallet or NFT marketplace supporting fiat purchases. More than 13,000 financial institutions benefit from the exchange’s support.
- Over 450 crypto trading pairs available
- Listed on stock exchange
- User-friendly mobile app
- Has integrated Web3 wallet
- Users can get Coinbase Pro to lower fees
- Both newbie and experienced users can trade and invest easily
- Limited altcoin pairs
- Customer support issues
- Relatively high fees without Coinbase Pro
BitMEX is a crypto derivatives exchange that enables traders and investors to buy futures and perpetual swap contracts on a wide range of crypto assets.
Deep liquidity and a professional trading dashboard are both associated with the platform. From retail newbie investors to experienced arbitrageurs and intraday traders — anyone can access the BTC, ETH and many more derivatives.
BitMEX is known for launching perpetual leveraged swap contracts on BTC to allow traders up to 100x leverage and no expiry date. The innovative derivative model pushed BitMEX to become top-tier exchanges, holding the #1 spot when it comes to BTC trading.
Even though the exchange experienced some market manipulation allegations, BitMEX shook off its bad reputation and aims to become the world’s largest regulated crypto derivatives exchange. In 2020, the exchange introduced KYC for all users, marking the first step toward a new direction.
- Up to 100x leverage on BTC/ETH
- Leading BTC derivatives platform
- Reliable liquidity for major crypto tools & assets
- Low fees by default
- Secure storage
- Not available for US citizens
- Not fully compliant with regulations
- No fiat deposits
- Some traders avoid KYC
Best Decentralized Exchange (DEX) Tools
If you’re not a big fan of KYC or prefer investing in smaller projects, decentralized exchanges are just for you. Sometimes you may not find assets traded on DEX anywhere else, which is why you should know about these tools.
Uniswap spearheaded the DEX concept into masses, as it’s the most widely-known decentralized exchange at the moment. You can trade any token related to Ethereum directly through your wallet. In other words, you don’t need to think about KYC, custody or phishing attacks.
Uniswap uses the notion of smart contract to make autonomous on-chain transactions at marginal costs happen. Moreover, it has fewer problems with liquidity than some major centralized exchanges.
The DEX actively adds new features, customizes designs and provides users with rewards for providing liquidity using the native UNI token.
1inch is yet another leading DEX aggregator that spots the cheapest and most efficient way to swap your assets. The smart routing feature scans all major DEXes to find the optimal swap route.
The platform supports multiple blockchains including but not limited to Balance Smart Chain and Ethereum, which is a good way to make your asset flow a bit safer. Moreover, the platform aims at the Web3 wallet niche, promising to integrate all the partners to the wallet ecosystem.
PancakeSwap is a native Binance Smart Chain DEX, working with anything BEP20 token standard. You can use that if any small to medium project is listed there first with more exchanges to follow afterward. Usually, the price listed on PancakeSwap is lower if the same project is listed on Binance later on.
PancakeSwap uses the liquidity pool model and rewards users for providing this liquidity. If you’re a big fan and holder of Binance’s BNB, you could stake CAKE-BNB to yield as much as 30% APY.
Best Trading Platforms Tools
Going one step away from centralized and decentralized exchanges, we approach trading platforms. Think of a hub that connects fragmented exchanges in one, easy-to-take format.
Coinigy allows you to aggregate wallets and trading accounts under one roof, by using API keys. That might save tons of time, especially if you’re an experienced trader with multiple accounts and dime a dozen wallets.
In essence, Coinigy works as any aggregator but with some multi-exchange trading features. Moreover, some of the exchanges you can bundle under the beautiful Coinigy’s hood, might have a poor interface if used separately.
Altrady is an intuitive application to fix all your crypto trading needs. It aggregates multiple exchanges, allowing you to buy and sell in one place, from one account.
The benefit is especially important for those who stick to risk management rules and diversify portfolios, sending assets over across various exchanges. The platform supplies a smooth learning curve, lots of educational videos & articles about trading, and more. Any newbie will have no problems using Altrady, as its interface is pretty straightforward.
Best Charting Tools
A charting tool is a must-have of any decent trader and longer term investor. Graphical instruments can hint at a good entry/close level, a possible breakout or pullback, market manipulations, and much more.
TradingView is the favorite chart analysis tool among many traders, as the graphic interface is well organized. Traders can easily access live market updates, chat forums, live streams, and other features the platform provides.
Even though the main functions revolve around built-in scripts and technical indicators, the community tends to chat a lot, helping each other in mastering tools or trading basics. The official blog has price predictions, immersive analysis digests, news articles, and long-form educational content to encourage newbie traders. Long story short, TradingView has made analysis and trading so much simpler and moreover interactive, for a wide range of asset classes. Stocks, bonds, commodities, crypto, derivatives of all sorts, fiat currency pairs — you name it.
Cryptowatch is a real-time crypto markets platform owned by Kraken exchange.
As the name states, the platform focuses on crypto market data and charts for over 24 major exchanges. You can only assess crypto assets here, which isn’t necessarily a bad sign, as focus is capable of big results. Cryptowatch APIs collect data from all over the Web3 to aggregate as many as 4,000 markets in one place.
However, the platform still lacks a go-to mobile app and derivative trading flexibility. At the moment, only Kraken users can trade derivatives through Cryptowatch.
Best Market Data Tools
Without data you’re just another person with an opinion — the age old quote still holds true, especially for digital markets like crypto. Aggregators can edge you forward if you use them or drag down completely, in case you disregard data completely.
CoinMarketCap is the most-referenced website when it comes to crypto prices. A bigger part of the crypto world uses CMC to track the latest price updates, trade assets mid-term, and invest over the long horizon.
CMC has provided unbiased and accurate information since 2013. After many years of high community value, it was purchased by Binance. Some bad rumors barely affected neither popularity, nor reputation, as the platform operates independently from its parent company.
- The largest and most prominent aggregator at the moment
- Has a lot of projects listed, checked and verified on a daily basis
- Grows faster than any other crypto market data aggregator
- Complicated user interface
- Was acquired by Binance in 2020
- Has clickbait articles & videos
- Suffers from price lags
- Might disregard liquidity and has arguable CEX evaluation model
CoinGecko is one of the go-to sites for live crypto prices listings. Alongside this, CoinGecko welcomes new crypto users to the community with educational material, yield gain calculations, and interactive giveaways. When first landing on CoinGecko, Bitcoin defaults as the top cryptocurrency with the largest market cap and network.
However, there are thousands of coins out there to discover. Without the correct tools to refine your search, sifting through project after project can be tiresome. That’s why CoinGecko has categorized all the different characteristics of tokens to allow users to see a wealth of different data points and information relating to the crypto markets.
- Stand-alone data aggregator, not owned by anyone
- Evaluates all exchanges equally
- Provides more information on tokens & coins
- Less prominent aggregator with a smaller visitor base
Best Calendar Tools
Calendars might help you in scheduling crypto activities. Instead of keeping multiple launches in mind, you can check any major calendar tool and know for sure whether an NFT collection is being minted today or tomorrow.
CoinMarketCal is a free web-based calendar of crypto events that displays the latest information, including current sentiments on a certain asset, or important milestone for some DeFi protocol, NFT collection, Web3 marketplace, and more. You can sort and filter the calendar’s events by numerous tags to simplify tracking.
The project’s profound community and content verification team maintains data and manages insights in an amazing way, making the platform a great tool to spot upcoming events you’d otherwise never know about.
Coindar is another free collaborative calendar for all crypto events. It covers all events that help crypto traders make better decisions, including short-term and long-term investment, trading, flipping, and more. Coindar is one of the most reliable and up-to-date collaborative databases in the industry.
At the moment, it tracks > 1650 profiles on Twitter, sharing media buzz so loud, you would never miss it. Another great benefit is a collection of 1600 digital assets under your glass.
Network Statistics Tools
The history of crypto is emphatically the history of statistics, which is why you might want to pay extra attention to network-related tools.
BitcoinVisuals makes Bitcoin data more accessible — all under one roof, including blockchain, lightning network, market data, and more. You can track crucial stats to trade BTC derivatives or spot, predict a lower entry point for investing over the long haul, check halving state, hash rate, etc.
CryptoMiso ranks crypto based on GitHub activity stats. GitHub is somewhat like a software development hub commonly known as a place to share opinions, brainstorm new ideas, share something related to IT & Blockchain, etc.
Even though GitHub updates do not affect the projects’ future in a straightforward way, it might be of interest to some investors, as developers always drive the project over the long run. CryptoMiso currently monitors over 250 projects.
If the world is a fast-paced place to be, crypto has something to say about it twice as much. Simply put, news makes a difference when it comes to such a volatile asset class as crypto.
CryptoPanic aggregates news to help users and traders stay up to date with the recent events. This way, traders can monitor the latest news and understand the reasons behind subsequent price changes.
The service collects news from multiple websites, sorts them out and delivers as fast as possible in an automated way. By crawling through social media, news portals, magazines, blogs, and more, CryptoPanic helps its users to take responsible asset-related decisions once the news is out.
CoinSpectator is one of leading crypto aggregators, providing not only real-time news and data, but also features like portfolio tracking, price alerts, and a social media feed.
The team of experienced writers, analysts, and developers pushes the platform far beyond a mere news aggregator service. Instead, CoinSpectator offers insightful real-time indices, smooth interface, price predictions and altcoin breakdowns. Whether you’re a casual investor or a die-hard trader, the platform can hit it out of the ballpark.
Best Trading Bots
If you ever wanted to automate your trading experience, this is a way to save both your time and money. Not to mention your emotions affected by negative trades.
3Commas — Best Trading Bot Overall
3Commas is a trade automation solution built to simplify trading experience across multiple platforms through robots, portfolio management tools and smart trading. It currently has over 220,000 monthly users and the number keeps climbing. More than 23 major exchanges like Binance, FTX, ByBit have been integrated to automate trading for > 2000 crypto trading pairs.
- Smart and copy trading features to follow experienced users and achieve their results
- Complete trade automation through DCA, Grid, and futures bots
- Advanced analytics & informative dashboard
- 100% cloud platform, leaving no security breaches
- Intuitive interface & mobile app available
- Detailed FAQ section
- Deep liquidity aggregated
- Might seem a bit complex at first
- Automated bots require a subscription
HaasBot is another automated trading bot that allows users to pick a ready-to-go algorithm or set up something entirely new from scratch. You can use HaasScript to program your own trading robot.
- Fits both newbies, experienced, and pro traders
- Proven track of records, as trading results have been backtested and simulated
- Over a 100 bots available
- Supports multiple exchanges and crypto assets
- No free trial available
- More expensive than the market average
- You have to download and install the bot, which makes the process time-consuming and sets a security precedent
Pionex is a popular alternative to 3Commas and HaasBot. The platform offers 16 integrated bots by default, which is quite impressive. Another key advantage is the liquidity aggregated from some of the biggest crypto exchanges, making trading smoother for Pionex users.
However, some users claim experiencing tough luck talking with customer support. The response time could be improved, so does the website performance, according to multiple reviews across the web.
- Competitive trading fees
- Over 100 thousand customers
- Multiple trading bots available
- Fiat and crypto deposits
- Poor customer support
- Some users claim the website might suddenly freeze
Best Crypto Tax Tools
Back in 2012 crypto investors and traders had no choice but fill their taxes manually, scrupulously calculating and adding up each transaction across multiple markets. Things have changed for the better since then. Nowadays, you can use a wide range of tax reporting & managing tools.
TokenTax is an easy way to report any crypto capital gains and income taxes to your state government. The platform helps you to calculate the applicable crypto taxes and generate the necessary crypto tax forms automatically.
It literally has no competitions, as none of the tax service providers support all major exchanges. You can import all the trading data from an exchange and upload it to TokenTax to generate all the tax forms you might potentially need. The form list includes, 8949, TurboTax, FBAR, FATCA and more.
CoinTracking is the world’s first crypto tax reporting solution founded nearly a decade ago. More than 1.1 millions customers, collectively holding $42 Billion worth of assets in their portfolios, cooperate with tax advisors and lawyers to fill their taxes globally.
Portfolio Tracking Tools
Trackers help you manage asset flow within your portfolio. It’s a good way to stay in touch with your crypto finances.
Blockfolio is a widely-known tracking app and most crypto enthusiasts use the platform to manage their Web3 wealth properly. Even though it has many rivals, Blockfolio stays head and shoulders above any other platform. Perhaps, because it was among the first ones to launch back in 2014 and has been developing since then. FTX being at the head might also contribute to the beyond-competition dominance.
No platforms supply as many functions and customization features as Blockfolio does — a bright example would be the Blockfolio Signal service and the ability to buy/sell crypto directly within the Blockfolio app without any fees.
CoinStats is a portfolio manager for tracking all trades of digital currencies. It provides valuable analysis data for trades made, volume traded, profits gained, losses occurred and your overall net worth. You can either enter your trades manually or import them from any supported exchange.
Cointracking is a cryptocurrency research and portfolio tracker app. You can search through the extensive asset list, visit social pages, blog, and more to complete your research and make important decisions related to your portfolio.
Cointracking also features price alerts, going far beyond price-related notifications. Instead, once you mark some asset as an important one, you’ll get relevant news and all other assets might be converted if you want to. You can also automatically track your net worth and profit loss by connecting a Web3 wallet/exchange.
On top of that, you access advanced tax tools, including annual tax return, FBAR, Form 8949 and the German Income Tax Act.
Best Rebalancing Tools
Holding 50 tokens at the same time might be quite a challenge. Simply put, you might want to rebalance your portfolio — add some new assets, remove older ones, change the allocation, and more. This way you not only maintain a steady risk level but also your results will align with investment goals, which is not always the case for an unbridled portfolio.
Even some experienced 3Commas users have no clue about the portfolio rebalancing feature the platform offers. Perhaps, because the feature is not obvious.
Once you join the platform and create your own portfolio/follow someone else’s, you can schedule a rebalancing interval. In other words, 3Commas will automatically rebalance your portfolio leaning on your strategy.
The feature is quite helpful if you leverage other functions as well — for example, if you set up a bot and connect it to any supported exchanges. This way, a trading bot makes profits, while the rebalancing feature will manage your portfolio afterward. Completely automated trading requiring minimal efforts can make your life much easier.
- Has a free trial period to try portfolio features before subscribing
- Responsive customer support ready to answer your questions
- Supports major crypto exchanges like Binance, FTX, ByBit, and more.
- Allows copy trading to automatically follow someone else’s portfolio
- Over 1,100 highly positive reviews on TrustPilot
- Paper trading requires subscription
Similar to 3Commas, the platform has portfolio rebalancing tools. You can do so either manually or use auto-rebalancing. The tool is completely free, but supports a limited number of exchanges, which might limit some traders and investors.
Best Crypto Wallets
As interest toward Web3 speeds up, users engage more actively across various ecosystems, which implies a unified access method common for any kind of Web3 experience. Be it dApps (decentralized applications), tokens, NFTs — wallet is like a key to enter the domain and interact with it afterward.
MetaMask is one of the leading crypto wallets to access Web3, DeFi, and NFTs. It’s easy-to-use, as you can integrate the wallet into your Chrome browser within minutes.
Trust wallet is another popular option to experience Web3, as it’s owned by the biggest crypto exchange Binance. The wallet allows you to buy, store, and collect NFTs, trade & earn interest on crypto, and more. As many as 25 million people already use Trust Wallet.
Best Mining Tools
Mining is another crypto-related industry that requires using several services to track and manage data in a proper way. Let’s break down key services you may need when it comes to mining.
NiceHash is the largest marketplace to connect hash power sellers & miners to buyers. As a result, users can monetize their hardware and its power by solving hashing algorithms. You can visit the platform to leverage your PC, laptop, or mining rigs and sell out the power you already have or are willing to get anytime soon.
WhatToMine is a sought-after mining profit calculator crypto coins miners widely use. While some miners use the tool to calculate potential profits they can make on a specific coin, others compare several coins to get the most rewarding directions.
CryptoCompare provides clear, deep and concise data to bridge the gap between the crypto asset and TradFi markets. You can access > 5,000 assets and over 250,000 pairs here — all to compare markets, evaluate assets, catch some financial insights related to trade, order book, social, or historical data.
Best Blockchain Exploring Tools
Explorers give you control over any past transaction, wallet, smart contract, NFT, and anything else related to the blockchain you might want to check.
The most popular explorer at the moment, as it tracks one of the biggest and widely used chains — Ethereum. You can check any OpenSea transaction here as well as many DeFi protocols.
A bit less prominent, but still a popular explorer is designed to track anything related to Binance Smart Chain. Widely used to track transactions from/to Binance exchange and track NFT auctions held by the exchange.
Another explorer made for Solana users. Quite popular recently due to the Solana NFT spike. Anything Solana — make sure to check it here. If you regularly use Solana or do any troubleshooting, understanding how to use a blockchain explorer is extremely useful.