7 Must-Have Tools For a Bitcoin Trader – A 2020 Guide

In the world of cryptocurrency trading, there are no physical tools that you can use. Similarly to cryptocurrencies, these tools exist in the digital world – which means that they come in the form of smartphone apps, websites, programs, and a wide range of platforms.

Naturally, there are hundreds, if not thousands of tools you can choose to use, however, the article below is going to feature a list of the best ones you can opt for. Of course, the one or ones you choose will depend on your preferences and needs. Let’s take a closer look at the list:

Tools For Gathering Market Information

1. Coin Market Cap

Image source: bitcoinist.com

This is, perhaps, one of the most used programs for gathering information on the crypto market and it is also the very first thing individuals that are crypto savvy think about when someone says “market capitalization”. Basically, it is a website that gathers the most important information that is closely connected to the trading markets.

By taking a quick look, you’ll be able to get a clear picture of all your investments, you can remain updated on every single market capitalization, and you can even get a price chart for the next week. The site also allows people with information on the listed currencies including the prices and available amount

2. ICO Stats

Let’s start by explaining what ICO is. ICO stands for Initial Coin Offering, which is a strategy used by enterprises to raise capital that they need for further developing and expanding their companies. Simply said, it is similar to a fundraising strategy that is also a crypto spin-off of the IPO.

When you access this site, you’ll find every credible ICO including the basic information about the offering, as well as an updated list of dates of all upcoming pre-sales. The most loved feature of this site is that it has calculators for profitability, which are quite useful for analyzing current and potential investments.

Tools For Analyzing And Trading

1. Trading View

Image source: usethebitcoin.com

Besides being a trading service it is also a social media website for all crypto investors and traders. It allows users to see detailed charts that are in the same rank as most professional charting sites. It also functions as a social media sire, which means that you can see other people’s histories and follow them in order to gain more experience.

It also enables people to find various indicators, oscillators, and trading methods available. Additionally, it also features the biggest library of community manufactured tools with the goal of further improving your trading experience. Simply said, it is a giant source of tools, ideas, traders, and knowledge.

2. Bitcoin Evolution

Most individuals think that cryptocurrencies stopped evolving, however, for this program, it does not matter if the prices increase or decrease, the program can trade in both ways. Traders can purchase coins and wait for their value to improve in order for them to sell it at a higher price – and this program enables you to purchase or sell them depending on the current trends.

It is relatively simple to use the program. All you’ll need to do is open an account, select the investment plan – the money you want to invest – and the amount that you want to gain. After that, simply click on “start auto-trading” and you’re good to go. If you want to see a detailed review of the Bitcoin Evolution Trading software, check out Bitcointocrypto for more information.

Tools For Storing Coins

1. LedgerWallet

Image source: ledgerwallet.com

If you have been in the crypto world for some time, you probably already know that it is important to keep your investments and profits safe. And, there is no better way to do that than by transferring both the profits and investments into “cold” storage. Cold storage is basically an offline digital wallet that can be found on a site that is not connected to the Internet.

This will allow your assets to be safe against unauthorized access and/or external threats such as cyber-attacks. If you are looking for an offline wallet, one of the best ones you can opt for is the LedgerWallet. Besides it being incredibly safe it can also store a wide range of popular cryptocurrencies that you might be trading.

Of course, there is an opposite storage form that is often referred to as “hot” storage. This is the data that you need to access as soon as you can. For instance, if you store info that is connected to various company affairs and you cannot wait for it to arrive when you need it, then that data would be proper for a hot storage platform.

Tools For Connecting Traders

1. Slack

This app or computer program is an online cooperation place. It has a wide range of groups where expert traders and investors meet and discuss the markets, methods, currencies, coins, and strategies. Although the information shared in these communities is basic, it is incredibly crucial – especially if you are new to crypto trading.

2. Telegram

This is an instant messaging app, however, it is completely different from other apps such as WhatsApp, Viber, or Messenger. The most notable difference is that it is completely safe and encrypted, which means that no one can access or gather data coming from and to the app.

Like Slack, it also features a wide range of groups that you can join, which means that you can gain valuable insights into the most valuable options you can choose. Of course, it is, in fact, an extensive and time-consuming process, however, you’ll be able to reap a lot of benefits in the future.

Conclusion

As you can see, there is a wide range of programs, websites, and apps that you can use for cryptocurrency trading. Of course, your choice will depend on your needs are requirements, but, all of these tools can help you when you first dive into the world of digital currencies trading. So, now that you know which tools you can get, do not waste any more time. Instead, do a bit more digging, opt for one or two tools that can help you, and start trading crypto coins right away!