The cryptocurrency market is known for its fast-paced nature, requiring agile strategies and efficient decision-making. To stay ahead of the curve, traders often try to find the best crypto trading tools and platforms that offer real-time data, advanced analysis, and automation capabilities.
This comprehensive crypto tools crypto premier guide will explore top instruments that can enhance your trading experience, streamline your workflow, maximize profits, and ultimately empower you to make well-informed decisions.
Best Crypto Trading Tools At a Glance
There are several crypto trading tools needed to simplify storage, transaction, and monitoring of cryptocurrencies. The list below summarizes the most important classes, and the specific tools in each category.
- Crypto Wallets: MetaMask, MyEtherWallet, Trust Wallet, Ledger Nano X, Trezor Model T, and KeepKey.
- Cryptocurrency Technical Analysis Tools: TradingView, CryptoCompare, Coinigy
- Crypto Exchanges: Binance, Coinbase, Kraken, Bitfinex, Bittrex, Uniswap, PancakeSwap, SushiSwap, Balancer, and 1inch and NFT marketplaces like OpenSea, Rarible, Foundation, SuperRare, KnownOrigin.
- Crypto Portfolio Trackers: CoinStats, Shinmpy, and CoinTracker.
- Crypto Arbitrage Tools: ArbitrageScanner, Bitsgap, Coinrule
- Crypto Screening Tools: Coingecko, CoinMarketCap, CoinCheckup, and CryptoSlate.
- Crypto Trading Bots: 3Commas, Cryptohopper, Gunbot, HaasOnline, Quadency.
Crypto Wallets
Crypto traders need wallets to store and manage their digital currencies securely. These tools provide a means of accessing, sending, and receiving cryptocurrencies. There are two main types of wallets: hardware wallets and software wallets. In the following sections, we will discuss these two categories and let you know the different wallets available for each.
Software Crypto Wallets
Software wallets, also called hot wallets, are applications or programs that can be installed on computers or mobile devices. They offer convenience and accessibility for frequent trading activities. Below is a list of some of the most popular hot storage wallets in crypto.
MetaMask
MetaMask is one of the most popular cryptocurrency wallets. This wallet operates as a non-custodial browser extension or a mobile app designed to store ERC-20-based tokens and interact with the Ethereum blockchain and its decentralized applications (DApps).
The most outstanding trait of MetaMask is its seamless integration with web browsers. This integration is incredibly convenient for users. It allows them to sign transactions and interact with DApps without needing to provide their keys to external websites, thus enhancing security and protecting users from potential phishing attacks.
MyEtherWallet
MyEtherWallet (MEW) is another ERC-20-based digital asset wallet. It offers users a secure and client-friendly wallet functionality for effectively managing Ethereum assets.
Like MetaMask, MEW is a non-custodial wallet, providing users complete control over their personal keys and funds. It is well-known for user control and security, making it a popular choice among crypto enthusiasts who prefer self-custody of their funds.
Trust Wallet
Trust Wallet is a popular multi-cryptocurrency wallet available as a mobile app for iOS and Android devices. It is designed to provide a secure and user-friendly platform for managing many cryptocurrencies and tokens.
This wallet supports a vast selection of cryptocurrencies and tokens, including popular ones like Bitcoin, Ethereum, and various ERC-20 tokens. Additionally, Trust Wallet offers its users a combination of security and simplicity. Its non-custodial approach ensures that users have full ownership and control over their cryptocurrencies, reducing the risk of potential hacks or loss of funds due to security breaches.
Hardware Crypto Wallets
Hardware wallets are physical devices that offer enhanced security by keeping private keys offline. They provide extra protection against online threats and are ideal for long-term crypto holding. Below is a list of the best hardware wallets in the market.
Ledger Nano X
The Ledger Nano X is a cold wallet developed by Ledger, a well-known company specializing in cryptocurrency security solutions. The Ledger Nano X is an upgraded version of its predecessor, the Ledger Nano S. It is designed to provide users with high security.
The main benefit of the Ledger Nano X is its exceptional security features. As a hardware wallet, it stores the user’s keys offline in a secure chip, away from potential online threats. It also incorporates seed phrase protection and a certified secure element (CC EAL5+) to protect against physical attacks.
Ledger Nano X costs around $119 and comes with Ledger Live, the official desktop application provided by Ledger to help clients manage crypto assets.
Trezor Model T
Another leading cold storage wallet is the Trezor Model T. This wallet was developed by SatoshiLabs, a well-respected company in the cryptocurrency security space. It is one the most advanced in a series of Trezor wallet models.
Trezor Model T is designed to provide users with a secure and user-friendly solution for storing and managing their cryptocurrencies. The device is a holistic solution for offline digital asset storage, with exceptional security, a user-friendly touchscreen interface, support for numerous cryptocurrencies, and the ability to set up a unique passphrase for enhanced protection.
KeepKey
KeepKey is a wallet designed to provide users with a secure and user-friendly solution for storing and managing their cryptocurrencies. It was acquired by ShapeShift in 2017 and is known for its simplicity and focus on security.
The most important feature of the KeepKey wallet is its large and clear display, which enhances security by enabling users to visually verify transaction details directly on the device. This focus on safety, combined with its support for multiple cryptocurrencies and BIP39 backup standards, makes KeepKey a compelling choice for users seeking a reliable and secure hardware wallet.
KeepKey was priced at around $49.
Cryptocurrency Technical Analysis Tools
Cryptocurrency technical analysis tools are software applications or platforms that provide traders and investors with various indicators, crypto charting tools, and data to analyze price movements and patterns in the market. Let’s discuss the top crypto analysis tools that traders can leverage.
TradingView
TradingView is a popular web-based platform for traders and crypto investors that provides one of the best charting tools and real-time market data for various financial markets. The platform offers a wide range of technical indicators, drawing tools, and chart types for the technical analysis of cryptocurrencies, stocks, forex, and commodities.
As one of the leading crypto technical analysis tools, TradingView strives to make its platform friendly for beginners to professional traders alike. It has a social networking element, a scripting language that allows traders to customize technical indicators and strategies.
To access the platform’s features, users can sign up for a free account or opt for one of the subscription plans listed below.
- Free: It offers basic features and limited indicators.
- Pro: Starting at $14.95 per month, billed annually. It includes more indicators, real-time data, multiple charts per layout, and extended hours data.
- Pro+: This costs $29.95 per month, billed annually. It has all the perks of the pro package, plus additional data sources, server-side alerts, and priority support.
CryptoCompare
CryptoCompare is a cryptocurrency data and analytics platform that provides a wide range of information related to the market. It offers real-time and historical data on cryptocurrency prices, trading volumes, market capitalization, and other relevant metrics for various cryptocurrencies and exchanges.
The platform has earned recognition for its comprehensive data coverage. CryptoCompare clients get access to a news section that provides the latest crypto updates and insights, customizable price charts, technical indicators, and comparison tools, plus user reviews for digital currencies and platforms.
To access CryptoCompare, users can settle for the basic account or the standard and professional subscription plans. Here’s a breakdown of what each costs.
- Basic: This is the free tier, and it includes basic charting tools and limited access to historical data.
- Standard: Starting at $39 monthly, this plan adds more technical indicators and priority support.
- Professional: For $99 a month, users get advanced features like order book data, custom timeframes, and expanded access to historical data.
Coinigy
While Coinigy is a cryptocurrency trading platform, its technical analysis features make it stand out. This exchange has a suite of features designed to streamline cryptocurrency trading.
Coinigy offers advanced charting and technical analysis tools. The platform provides various technical indicators, drawing tools, and chart types, enabling users to perform in-depth technical analysis on price movements and identify potential trading opportunities. The advanced charting capabilities help traders make well-informed decisions based on market trends and patterns.
To get these features, Coinigy offers its clientele a tiered pricing system. Below is a breakdown of what each tier costs.
- Free Trial: This gives access to all features for 30 days.
- Basic: The plan costs $18.66 per month, billed annually. It includes technical indicators and real-time data from over 45 exchanges.
- Pro: This costs $40.83 per month, billed annually. It comes with all the basic plan features, more technical indicators, and enhanced data coverage.
- API: For $99/month billed annually, this plan offers access to the Coinigy API for custom app development.
Crypto Exchanges
Another important crypto trading tool is a crypto exchange. These online platforms facilitate the buying and selling of various cryptocurrencies and digital assets. They serve as intermediaries between buyers and sellers.
Broadly, crypto exchanges are categorized into two. We have centralized exchanges and decentralized ones. Let’s discuss the difference between these two categories and list examples of each.
Centralized Crypto Exchanges
Centralized exchanges are crypto trading sites run by a centralized entity. These exchanges act as intermediaries and are responsible for the security and custody of their users’ funds because they control their private keys. Below is a list of the top five centralized exchanges globally.
Binance
First on the list is the Binance exchange. Binance is one of the world’s largest and most popular crypto exchanges, known for its extensive selection of cryptocurrencies, high liquidity, and user-friendly interface.
Its key feature is the wide range of trading pairs available on the platform. This vast asset pool allows users to trade cryptocurrencies against popular fiat currencies like USD, EUR, and many other cryptocurrencies, which make it one of the best crypto exchange for day trading crypto.
Coinbase
Coinbase is one of the most well-known and widely used cryptocurrency exchanges in the world. Founded in 2012 and headquartered in the United States, Coinbase has played a crucial role in making cryptocurrencies more accessible to the general public. It provides a user-friendly platform for buying, selling, and storing a variety of cryptocurrencies.
However, this platform’s most significant stronghold is its security features. Coinbase has gained widespread popularity due to its reputation for security and regulatory compliance, attracting a broad and dedicated user base for the exchange.
Related: Coinbase Pro Review: Is This the Right Exchange for You?
Kraken
Kraken is a prominent U.S.-based cryptocurrency exchange founded in 2011. It is one of the cryptocurrency market’s oldest and most established exchanges.
Kraken is a go-to platform for multiple trading options in the competitive crypto trading space. Users can get anything from spot, margin, and futures trading and explore other lucrative crypto investments.
Bitfinex
Bitfinex is a well-established cryptocurrency exchange that was founded in 2012. It is headquartered in Hong Kong and is considered one of the largest and most prominent exchanges in the crypto industry.
This exchange is famous for its advanced trading features and tools, making it a preferred choice for experienced traders. Bitfinex provides a customizable user interface with real-time market data, advanced charting tools, and various order types to suit different trading strategies.
Bittrex
Bittrex is a well-known crypto exchange founded in 2014 in the United States. The platform has established itself as one of the leading exchanges by supporting an extensive collection of digital assets.
It lists a variety of assets, making it attractive to traders seeking exposure to diverse markets. Additionally, the exchange consistently evaluates and adds new tokens based on stringent listing criteria, ensuring credibility for the projects listed on the platform.
Decentralized Crypto Exchanges
Decentralized exchanges (DEXs) are crypto trading platforms that operate on a peer-to-peer network. The exchanges operate using smart contracts, eliminating the need for intermediaries and giving users complete control of their private keys and funds. Let’s explore the top five DEXs in the crypto space.
Uniswap
Uniswap is an innovative crypto exchange built on the Ethereum network. This popular platform utilizes automated market-makers (AMMs) to execute trades. AMMs are smart contracts holding funds from users who provide liquidity to the platform. The result is that users can swap various Ethereum-based tokens directly without intermediaries or traditional order books.
Related: Uniswap vs Pancakeswap: Which is Better?
PancakeSwap
PancakeSwap is a DEX that operates on the Binance Smart Chain (BSC). Like Uniswap, PancakeSwap works using AMMs, allowing users to easily swap tokens without third-party interference.
The best feature of this platform is its low transaction fees and fast transaction times. The Binance Smart Chain’s high-performance blockchain infrastructure makes these two possible. As a result, users can trade and provide liquidity to the platform with significantly lower fees, making PancakeSwap a popular choice for traders and liquidity providers, especially during periods of high network congestion.
SushiSwap
Another top scorer on the decentralized exchange list is SushiSwap. This Ethereum-based trading site launched as a Uniswap fork, with additional features and incentives to attract liquidity providers and traders.
SushiSwap’s best feature is its innovative mechanism known as “Onsen.” Onsen is a rewards program that incentivizes users to provide liquidity to specific token pairs on the platform. Liquidity providers earn SUSHI tokens, SushiSwap’s native cryptocurrency, as rewards for contributing to the site’s liquidity pools.
Balancer
There’s also Balancer, which is a product of the Ethereum blockchain. Balancer’s best feature is its innovative and flexible liquidity pools or Balancer Pools. Unlike other AMMs that use a fixed 50/50 ratio between two tokens, Balancer Pools can hold multiple tokens with different weights.
For example, a Balancer Pool can hold 80% of Token A, 15% of Token B, and 5% of Token C. This customizable structure enables users to create diverse and unique pools, accommodating a wide range of token combinations and trading strategies.
1inch
1inch is a decentralized exchange aggregator that sources liquidity from various DEXs, including Uniswap, SushiSwap, and Balancer. It aims to find the best prices for users by splitting their trades across multiple platforms.
1inch’s most outstanding offering is its advanced algorithm, which enables the site to split trades across different liquidity sources. This feature is known as DEX aggregation” or DEX routing.
When a user initiates a trade on 1inch, the platform automatically scans multiple decentralized exchanges to identify the most efficient paths for executing the trade. By splitting the trade across multiple DEXs, 1inch can minimize slippage and reduce trading costs for users, ensuring they get the best possible prices for their transactions.
NFT Marketplaces
NFT marketplaces are essential in blockchain and digital art because they serve as the primary venues for artists, creators, collectors, and investors to interact with and transact NFTs.
NFTs are unique digital assets representing ownership of a specific item, artwork, collectible, virtual real estate, or any other form of digital content on a blockchain. Here’s a list of the top NFT marketplaces.
OpenSea
OpenSea is one of the largest and most popular NFT marketplaces. It allows users to seamlessly create, buy, and sell NFTs on its platform. The market supports various digital assets, including digital art, virtual real estate, domain names, virtual goods from games, and more.
Rarible
Rarible is a decentralized NFT marketplace built on the Ethereum blockchain. It allows creators to mint, buy, and sell NFTs with ease. The platform hosts a diverse array of NFTs, including digital art, digital collectibles, virtual goods, and unique assets.
Foundation
Foundation is an exclusive NFT marketplace that curates creators and their works. It aims to highlight emerging artists and unique digital creations. Foundation focuses on digital art, unique collectibles, and creative works by artists.
SuperRare
SuperRare is a premium NFT art marketplace emphasizing high-quality and limited-edition digital art. Each NFT on SuperRare is unique and has its own proof of ownership, making it highly collectible and valuable. This market’s primary focus is emphasizing scarcity and exclusivity.
KnownOrigin
KnownOrigin is an art-focused NFT marketplace that supports artists and creators. It aims to showcase digital artists and provide collectors with unique and authentic digital creations. KnownOrigin focuses on digital art and digital collectibles, supporting diverse creative works.
Related: Top 7 Best NFT Marketplaces for Photography
Crypto Portfolio Trackers
Cryptocurrency portfolio trackers are software tools or applications that allow individuals to monitor and manage their cryptocurrency holdings in one centralized platform. These trackers aggregate data from various cryptocurrency exchanges and wallets, providing users with a comprehensive overview of their portfolio’s performance, asset allocation, and historical data. Below is a list of the leading portfolio trackers in the market.
CoinStats
Top of the list is CoinStats, an all-in-one cryptocurrency portfolio tracker that supports over 3,000 cryptocurrencies and 300 exchanges.
Coinstats provides real-time price tracking, portfolio management, and news aggregation. The platform also offers a tax reporting feature, allowing users to calculate their capital gains and losses for crypto-related tax purposes.
This portfolio management platform is accessible as a free version with basic features. However, users can go for CoinStats Pro for more advanced use cases. This is a subscription plan worth $3.99 monthly, billed annually. It includes features like advanced alerts, exchange syncing, and priority support.
Shrimpy
Shrimpy is another leading portfolio tracker with a range of tools and features that simplify crypto trading. Among its best features are portfolio rebalancing, social trading features, and a trading bot to help users manage their cryptocurrency portfolios and automate their trading strategies.
Shrimpy offers multiple subscription tiers, including Free, Hobbyist at $13 monthly, and Professional at $33/monthly. The paid plans offer additional features such as unlimited exchange connections, social trading, and advanced rebalancing strategies.
CoinTracker
Cryptocurrency traders can also rely on CoinTracker for their portfolio management needs. This user-friendly portfolio tracking and tax reporting platform supports auto-syncing with over 300 exchanges and wallets. It ensures seamless tracking of cryptocurrency holdings and calculates capital gains, income, and other tax-related information for users’ crypto transactions.
CoinTracker offers three plans, including Hobbyist, which is free for up to 25 transactions; Trader, which costs $49/year for up to 2,500 transactions; and Executive, for $199/year for unlimited transactions and tax-loss harvesting tools.
Crypto Arbitrage Tools
Crypto arbitrage is a trading strategy that involves buying an asset at a lower price on one exchange and simultaneously selling it at a higher price on another exchange, profiting from the price difference. Below is a list of platforms that make it easier for crypto traders to run and profit from arbitrage.
ArbitrageScanner
ArbitrageScanner is a relatively new tool, but it has quickly become one of the most popular arbitrage scanners in the market. This scanning tool helps traders identify and take advantage of price differences between exchanges. It is a cloud-based platform that scans over 100 exchanges and DEXs for price discrepancies and then provides real-time alerts to users when it finds an opportunity to make a profit.
Bitsgap
The Bitsgap arbitrage scanner is a tool that helps traders find and exploit price discrepancies between cryptocurrency exchanges. It scans over 25 exchanges and DEXes for price discrepancies and then provides real-time alerts to users when it encounters an opportunity to make a profit.
Coinrule
Coinrule is an automated trading platform that allows users to create and execute trading strategies without the need for coding or advanced technical knowledge. However, the site doubles up as an effective arbitrage scanner.
With Coinrule’s arbitrage functionality, you can effortlessly detect and capitalize on price differences among various cryptocurrency exchangesThe platform automatically executes trades by analyzing over 20 exchanges and DEXs.
Crypto Screening Tools
Crypto screening tools, or cryptocurrency screeners, are software applications or platforms that help users filter and analyze vast amounts of cryptocurrency data to identify specific coins or tokens that meet certain criteria or characteristics.
There are many variations of these tools in the crypto world. This section captures the five best options.
CoinGecko
Among the leading crypto screening tools in the market is CoinGecko. It is a popular cryptocurrency data aggregator that provides a comprehensive crypto screener.
CoinGecko’s crypto scanning feature allows users to filter and sort cryptocurrencies based on various criteria, such as price, market capitalization, trading volume, and percentage changes over specific timeframes. It also provides detailed information on individual cryptocurrency projects, market trends, historical data, developer activity, and community engagement metrics.
Related: CoinMarketCap vs CoinGecko: Which Is the Best Crypto Tracker?
CoinMarketCap
In addition to being a leading cryptocurrency price tracking platform, CoinMarketCap is also a powerful crypto screener. It allows users to filter cryptocurrencies based on various parameters, including price, market cap, volume, and circulating supply. CoinMarketCap’s screener also includes the ability to filter by exchange, trading pairs, and market insights.
CoinCheckup
CoinCheckup is a cryptocurrency research platform that includes a comprehensive crypto screener. It enables users to filter and sort cryptocurrencies based on various fundamental and technical factors and social sentiments. CoinCheckup’s screener also provides a rating system for individual projects and offers detailed insights, charts, and data for individual cryptocurrencies.
CryptoSlate
CryptoSlate is a cryptocurrency news and information platform that offers a powerful crypto screener. Users can filter cryptocurrencies based on price, market cap, trading volume, and other metrics. The screener also includes options to filter by industry sectors and technical indicators.
Crypto Trading Bots
Crypto trading bots are automated software programs that execute trades on behalf of users in the cryptocurrency market. These bots follow predefined trading strategies and algorithms to buy, sell, or manage digital assets without continuous manual intervention. Here’s a summary of the top bots to consider.
3Commas
3Commas is a popular crypto trading bot platform with many features, including smart trading, automated portfolio management, and copy trading. It supports different exchanges, provides customizable trading strategies, and allows users to set up trading bots based on technical indicators and market signals.
There are multiple subscription plans on 3Commas, including Starter for $14.50 monthly, Advanced for $24.50 monthly, and Pro for $49.50/monthly. Each plan varies in terms of the number of bots, trading pairs, and features.
Cryptohopper
Cryptohopper is another user-friendly cryptocurrency trading bot that allows users to create and backtest trading strategies, use market-making bots, and set up trailing stops. It offers a marketplace for pre-built trading strategies and signal providers.
To get Cryptohopper, users can sign up for one of the subscription plans. These include the Explorer plan at $19/month, Adventure at $49/month, Hero at $99/month, and Custom, which is flexible for anything above $99 monthly.
Gunbot
Traders looking for a versatile trading bot are well-positioned with Gunbot. This cryptocurrency bot supports multiple exchanges and provides various trading strategies, including Bollinger Bands, Trailing Stop, and more. It offers backtesting and simulation tools for strategy optimization.
Gunbot’s pricing varies depending on the version and the number of trading pairs. The most basic version, Gunbot Lite, starts at 0.02 BTC.
HaasOnline
HaasOnline is a crypto trading bot for advanced traders. This bot offers sophisticated cryptocurrency automation with advanced technical analysis tools, custom indicators, and a wide range of supported exchanges. It allows users to create complex trading algorithms and backtest strategies.
There are four price plans on HaasOnline, including Beginner, Simple, Advanced, and TradeServer. Prices range from $10 to $99 per month.
Quadency
Quadency is a comprehensive crypto trading platform that includes a trading bot feature. It offers a user-friendly interface and a variety of pre-built strategies and supports multiple exchanges. Traders can also set up automated trading strategies using Quadency’s Smart Order Router.
To trade using Quadency, users can settle for a free plan with limited features. Alternatively, they can go for the paid plans, which start at $49 per month for the Pro plan and $199 per month for the Market Maker plan.
Conclusion
The crypto world offers diverse tools to enhance your trading journey. Throughout this article, we have explored some of the best crypto trading tools available, from essential cryptocurrency wallets, reputable exchanges, sophisticated technical analysis tools, and powerful trading bots.
Additionally, we explored the potential for profit with arbitrage tools and the efficiency of scanners in spotting opportunities. Each crypto tool empowers traders and investors with the data, automation, and insights needed to make informed trading decisions in the fast-paced and ever-evolving crypto market. Whether you are a seasoned trader or a newcomer, you need these tools to unlock your full trading potential and navigate the digital asset space.
