Various online media headlines claim that cryptocurrency is the future. More and more often, we can see comparisons of cryptocurrency with gold, which can’t be held in hands. Progressive investors have long been investing in buying cryptocurrencies to make money on their growth.
Those who appreciated the progressiveness of this investment option in time have already been able to make a fortune on the growth of Bitcoin. Let us remind you that in 2014, you could buy 1 Bitcoin for only $100. Now, 1 bitcoin is worth $4.7 thousand. But Bitcoin is not the only fast-growing coin!
Buying cryptocurrency is always a risk because such coins can both rise and fall in value. Some people are lucky and make a lot of money from the growth of the currency, while others lose money or sell the currency before it starts to rise in value. Any successful investor will give you one and the most important piece of advice not to lose your investment: you need to carefully research and analyze the cryptocurrencies that you plan to buy. In addition, you can use heatmaps to keep up with the rates of various coins and make smarter decisions.
But how can you analyze them if there are from 9385 to 17.5 thousand different cryptocurrencies in the world now? That’s why we decided to create this article and tell you about the best crypto research tools so that your investment decisions will bring you success and income.
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Best Tools for Successful Investing
If you are a beginner or an experienced investor, any of the marketing tools we will introduce can help you reduce your risk when buying/selling cryptocurrencies.
This is an innovative and unremarkable platform that will show you the mentions of various cryptocurrencies on the Internet. This way, you can get more information about the coins of interest and different exchanges, as well as learn the opinions and attitudes of other investors regarding them.
You may think this is an odd choice, and mentions do not play such a big role, but you would be terribly wrong! Just remember how the value of Bitcoin skyrocketed after the mentioning of this cryptocurrency by opinion leader Elon Musk on his Twitter account! Then, the values fluctuated, and more than once, these fluctuations were associated just with mentions of the coin by other major crypto-investors. Therefore, do not underestimate this type of monitoring!
So, with the help of this platform, you will be able to monitor:
- The opinion of major investors regarding cryptocurrencies;
- The level of trust in various exchanges;
- Market activity.
We recommend this application to all investors, and for beginners, it is a must-have!
CoinGecko is so loved and respected by thousands of users for a reason. It is an excellent tool for comprehensive cryptocurrency analysis.
CoinGecko helps you track:
- Market capitalization;
- The rise and fall of cryptocurrency values;
- Exchanges by number of sales;
You’ll be able to see analysis of various metrics on 10,000 different cryptocurrencies, giving you the ability to keep your finger on the pulse at all times. To further arm you with the information you need, this service also provides data on several hundred crypto exchanges.
Constantly analyzing all of these indicators on your own is wasting a lot of time and effort on a daily basis. Consider the fact that from an investment perspective, the cryptocurrency market is constantly showing dizzying rises and falls. These dynamics can be both long-term and very short-term. The app automates the entire process of both fundamental and technical analysis.
Also, you can (and you should) evaluate the influence of different traders and big players on the cryptocurrency you are interested in. The higher the capitalization of that currency, the less the influence of such traders on it is.
Furthermore, in addition to market-wide trends, this service allows you to assess the cross-influence of other cryptocurrencies on the coin or group of coins you choose. This is also a crucial factor in order to make the right choices and steps.
All in all, if you need an in-depth and high-quality analysis of the entire crypto market, then you should definitely consider this service and its support. Start working with CoinGecko by taking advantage of the free functionality. If you find that you lack the paid features, you can pay for one of the Premium subscriptions. They will cost you from $50 to $100.
Messari is a very handy tool for tracking cryptocurrency data. Thanks to this tool, important indicators can be tracked in a convenient way: graphs, charts, and lists. So, you will be able to get information through different filters, which is easy to visualize and make really successful decisions.
This tool is easy to use. Newcomers to the crypto market will especially appreciate its clarity and simplicity. But even for experienced investors, Messari will be very useful.
You just need to specify coins and the filters you want to apply to them in the settings. After that, you’ll be able to see data on:
- Market capitalization;
- The rise and fall in values of the selected cryptocurrencies.
Many of Messari’s services are free, but if you want to take advantage of advanced functionality, you can buy paid packages. This way, you can get even more detailed and comprehensive analytics. The paid packages of this service cost as little as $25 a month.
But there is a nuance: you need to pay for a whole year’s subscription at once. We have to admit that some clients are not satisfied with this approach to paying for services, although it is quite common among such services. But on the other hand, investing in cryptocurrencies is always a long-term game, so we don’t see a problem in paying for a year’s subscription at once.
The cryptocurrency market is developing very quickly and actively. And this statement is already becoming a self-evident factor and will not be news or sensation to you. Within this market, the indicators change lightning fast, and within one week, we can observe a completely different picture and situation.
In order to make as many successful and profitable moves as possible in such long-term investing, you need to always analyze the data and information you receive about cryptocurrencies. This is the only way you can keep yourself safe from making poor decisions and losing money.
Any of the three solutions we mentioned in this article can be a real investment aid for you. Each of them is worthy of attention and is a real find.
Have fun investing!