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Cryptocurrency Tools Every Trader Should Know About

If you’re a novice trader who wants to get your trading career off to a great start, you need to know about crypto currency exchange tools that make it easy for you to build your portfolio and assets base. Here are some of those cryptocurrency tools and how they will help build you up.

Let’s check them out!

A Cryptocurrency Exchange Platform

The first tool you need to be familiar with is a crypto exchange platform. These platforms are digital marketplaces where you can buy and sell cryptocurrencies with fiat currency or altcoins.

One of the best types of these platforms is a DEX, which stands for decentralized exchange. These kinds of platforms are peer-to-peer, which means they connect buyers and sellers of cryptocurrencies. If you’re looking for a smooth DEX platform, you should try Godex.io. The platform is known for being fast and easy to use. It may be the easiest tool for you to master.

A Platform for Trading

A trading platform is an app that allows the trading of cryptocurrencies. Some of the most popular trading platforms include Coinbase, Binance, Cash App, and Bisq.

Basic Trader Tools

Here are some of the basic cryptocurrency tools a trader must have.

The Wallet Tool

This tool is simply a way for traders to store the public and private keys for cryptocurrency transactions. The public key is for the public and is the main medium for receiving funds. This key can be searched on the ledger. The opposite is the case for the private key. The wallet allows you to receive coins, store them, and retrieve them whenever you want.

Cryptocurrency Trading Bots

Cryptocurrency trading bots are computer programs used to buy and sell coins automatically at a predetermined time. The main goal of these bots is to make sure they earn the highest level of profit for their owners. Some of the best bots include Coinbase Pro, Binance, Bitpanda, and Kraken.

Market Stat Tools

These are cryptocurrency tools used to analyze cryptocurrencies and predict their trends. Popular market stat tools include Blockchair, OnChainFx, and NFTMarketCap.

Market Calendar Tool

The cryptocurrency market is undoubtedly very hectic. That’s why it’s so hard for people to keep up with it. The good news is that you don’t have to. There are crypto market calendar tools to help you do that. Some of them include CoinMarketCal, KryptoCal, and Cryptocalendar.

Real-Time News

To be a good crypto trader, you also need to arm yourself with real-time news that may lead to the immediate rise of a coin or its immediate fall. You can use a service like Cointelegraph (widely popular among cryptocurrency traders) or CoinDesk. Actually, both tools will provide you with the latest important crypto news. 

The Bottom Line

If you’re just getting into the world of cryptocurrencies, these are certainly some of the tools you must have. They will help you achieve the desired result.

Also, the most important tool you should have, of course, is a crypto trading platform like Godex.io that will be crucial to you in your crypto journey.

Featured Photo by Executium on Unsplash