The rapid growth in the value of cryptocurrency attracts new crypto traders to the market, both professional and newbies. According to CryptoCompare, trading volume on spot exchanges has already exceeded $2.5 trillion, and the daily trading high has set an all-time price record of $16.6 billion.
Cryptocurrency trading is considered one of the most profitable and effective ways to make money. Special tools help traders to make profitable deals. With their help, you can track the price dynamics of a particular coin, copy successful transactions of experienced colleagues and predict market behavior. We have collected the top necessary services that every trader should master.
Services for analysis and monitoring
Choosing a cryptocurrency for trading always starts with a detailed analysis. This will help special services.
1. Trading View
Analytical service TradingView is necessary for every investor, regardless of the level of professional training. On this site, experienced traders and analysts post a lot of useful information, including analysis of each digital coin and price predictions. Here you can follow the transactions of successful crypto traders and study cryptocurrencies before including them in an investment portfolio. TradingView also allows you to compare cryptocurrency quotes and track the correlation between assets over a certain period of time: per month, per year, or per week, which helps in managing your investment basket.
The CoinMarketCap platform collects and consolidates information on the value of assets and trading volumes for various periods of time, and also shows fluctuations in the price of cryptocurrencies in relation to bitcoin or the US dollar. CoinMarketCap provides data, including on new cryptocurrencies that are just getting ready to enter the market. In addition, here you will find news about upcoming ICOs and other investment activities.
A site with a name similar to CoinMarketCap but with different content. CoinMarketCal is the largest cryptocurrency calendar. From it, you will learn about upcoming releases and launches of new cryptocurrencies. Here you can also attend educational AMA sessions with well-known investors and traders and participate in the free distribution of tokens from startups.
Most transactions are still made on cryptocurrency exchanges, but specialized platforms and services are also rapidly gaining popularity. They help plan and execute trades or copy the strategies of more experienced and successful crypto traders.
4. Cryptocurrency storage services
Storing cryptocurrencies in exchange wallets is not the best solution. Crypto experts and experts in the field of Internet security recommend keeping digital coins exclusively in cold wallets.
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Cryptocurrency trading is a complex and risky activity. However, if you use special services, then you can reduce the risk of losing funds to a minimum. Today, there are ready-made trading solutions on the market that do not require special training and allow you to copy successful transactions of experienced traders.