Crypto investing is a thrilling journey that can make or break your crypto portfolio and overall financial goals. Not to mention that since the industry isn’t immune to scams, some of the crypto tools available on the market aim to deceive traders. So, identifying trustworthy tools can take time and effort, regardless of your experience.
Additionally, emerging new and sophisticated crypto trading software seems natural yet overwhelming as the crypto market is lucrative. Also, the fear of missing out is real, as some crypto gurus advocate. Thus, many traders might feel pressured to try all the new and shining tools.
From complex and technical jargon to a need for more transparency, free trials, or the need for a user-friendly interface and support can hinder anyone’s trading decisions and journey.
But how do you narrow it down? How do you choose one of the best crypto tools to make informed trading decisions?
In today’s ultimate guide, we discuss overcoming these pain points and selecting some of the best cryptocurrency trading tools. Whether you are an experienced trader or a novice hoping to boost your quarterly revenue, finding the right crypto tool that provides robust security measures could be the way to go!
What Are Crypto Trading Tools?
Crypto trading tools are software applications that analyze, execute, report, and manage crypto trades. These are performed from multiple standpoints and characteristics, such as market movements, technical analysis of the market data or on-chain data, trading volume, and other technical indicators so that anyone can make informed trading decisions.
So, when working on your trading strategies, you should consider the following tools we’re discussing to monitor, trade, and exchange your crypto assets.
Types of Crypto Trading Tools
As you probably guessed, there is a type of crypto tool that could alleviate your crypto investments for the best. As such, you can choose between:
Crypto Tracking and Portfolio Management
By using such tools, you can easily monitor your crypto investments, checking the real-time data for crypto prices, market capitalization, and trading volumes, allowing you to track the performance of your crypto portfolio.
Crypto Exchange Tools
Crypto trading platforms are beneficial when buying, selling, and trading digital assets, eliminating the need for multiple centralized exchanges. Moreover, these trading tools offer comprehensive data on the market, allowing you to take advantage of the market movements.
Crypto Tax Tools
Would you like to estimate your profit and losses from your crypto trades? Then, you must try crypto tax tools, which can impact your trading strategies and provide an objective overview of your trading activities.
Technical Analysis Tools
For all the crypto investors who don’t analyze the dynamic crypto market, all we can say is to find an excellent technical analysis tool. You can strike while the iron is hot by researching the historical data and the latest market trends to identify patterns based on the technical analysis indicators. You can better strategize your next moves using a crypto research tool in sync with other charting tools.
Automated Trading Platforms
It’s no wonder that AI and algorithms have entered the crypto industry, and as such, why not benefit from it? The automated trading platforms aim to execute trades based on specific conditions, such as price targets, technical indicators, and other factors.
These are not all the crypto trading tools, but some of the most essential ones within the crypto space. Besides these, you could use trading bots, market news to stay informed, risk management tools, and others.
So, before you start your crypto trading journey, please remember that some of the best crypto tools can directly impact your crypto transactions and overall performance. Also, please remember that these tools do not constitute investment advice, financial advice, or any other advice, as you should decide for yourself based on objective analysis and take anything with a grain of salt.
3 Benefits of the Best Crypto Tools for Trading
Let’s imagine a simple scenario where you could improve your trading strategies and execution with ease based on the latest market analysis and insights. Using crypto research tools, you could peak at the market data to measure the risks and make informed decisions. Sounds too good to be true?
This scenario can be real, and you can benefit from it, as some of the best crypto tools come with many advanced trading features and advantages that elevate your crypto tracking and investment.
Market analysis resources and insights
Using real-time data and price performance historical data, trading volume, and crypto charting tools, you can make informed decisions based on trends and patterns and consider additional investment opportunities.
Upgraded Strategies with Seamless Execution
Why not benefit from these tools since they can elevate your investment plan and, at the same time, execute your activities with ease by choosing from a variety of order types, depending on your preferences?
Crypto Market News and Educational Resources
Regardless of their experience, beginner crypto traders, advanced traders, and crypto enthusiasts must be on point with the latest crypto trends and up-to-date news, analysis, and insights on the cryptocurrency market, specific cryptocurrencies, and industry developments, as they can impact their game.
Additionally, educational resources can help those in need who have just entered the crypto space, providing valuable insights and shining a different light on the crypto world. Why not leverage some of the advantages and swing them to your advantage?
How to Choose the Right Crypto Tools?
Upon deciding on a crypto tool, you must ask yourself some vital questions that could significantly affect your trading strategy.
- What is the trading platform’s security and transparency level?
- How friendly is the user interface, and how easily can you manage the crypto tool?
- What currencies does this trading platform support, and what are the fees?
- What are the reviews of other crypto traders, and does the trading platform offer customer support?
- Lastly, what educational resources and real-time news does the chosen tool show you?
Now that we’ve learned more about what constitutes a comprehensive trading platform, what the benefits are, and how to choose some of the best crypto tools, it is time to take a deeper dive and see the most used tools for trading in 2024.
Crypto Exchanges
With the help of crypto exchanges, you can easily buy, sell, and trade your digital assets securely with the help of a user-friendly interface. Moreover, these exchanges can be accessed via a browser or mobile application, making them a real asset in your trading crypto toolbox.
1. Kraken
Founded in 2011, Kraken is a leading player among crypto exchanges, being available in more than 150 countries. As years passed, Kraken developed two platforms, one suitable for beginners and the other for more advanced traders, called Kraken Pro.
Kraken Best Features
- NFT marketplace;
- Margin trading;
- Futures trading;
- OTC trading;
- Institutions;
- API trading;
- Staking rewards;
- Account management service;
Kraken Supported Cryptocurrencies
Kraken supports over 200 currencies, including coins and tokens, such as:
- Bitcoin;
- Ethereum;
- Dogecoin;
- XRP;
- Cardano;
- Solana;
- Litecoin;
Kraken Fees
Kraken doesn’t have a specific transaction fee, yet it depends on the transacted amount, the payment methods, and other influential factors, as seen below.
- $0 – $50,000: 0.16% for the maker and 0.26% for the taker;
- $50,001 – $100,000: 0.14% for the maker and 0.26% for the taker;
- $100,001 – $250,000: 0.12% for the maker and 0.22% for the taker;
- $250,001 – $500,000: 0.1% for the maker and 0.2% for the taker;
- $500,001 – $1,000,000: 0.08% for the maker and 0.18% for the taker;
- $1,000,001 – $2,500,000: 0.06% for the maker and 0.16% for the taker;
- $2,500,001 – $5,000,000: 0.04% for the maker and 0.14% for the taker;
- $5,000,001 – $10,000,000: 0.02% for the maker and 0.12% for the taker;
- $10,000,000+: 0% for the maker and 0.1% for the taker.
*Please check the Kraken’s official fee structure.
2. Coinbase
Launched in 2012, Coinbase is one of the most well-known and best crypto tools on the market that offers financial services such as buying, selling, and trading cryptocurrencies, offering a secure option for storing digital assets simultaneously.
Regarding security, Coinbase offers robust features, such as 2FA, ensuring investors’ funds are kept in cold storage.
Coinbase Best Features
- Buy, sell, and store crypto, NFTs, and manage multiple wallets in one place;
- Support for Bitcoin, Ethereum, Solana, Dogecoin, and all Ethereum-compatible networks;
- Crypto charting tools;
- Financial services for individuals or businesses;
- Crypto educational resources and tutorials;
Coinbase Supported Cryptocurrencies
- Ethereum;
- Polygon;
- Bitcoin;
- Dogecoin;
- Litecoin;
- Stellar Lumens;
- Ripple;
- Solana;
- Arbitrum;
- Avalanche C-Chain;
- BNB Chain;
- Fantom Opera;
- Optimism;
- Polygon;
- Gnosis;
Coinbase Trading Fees
- $0K-$10K: the take fee is 60bps and 40bps for the maker;
- $10K-$50K: the taker fee is 40bps and 25bps for the maker;
- $50K-$100K: the taker fee is 25bps and 15bps for the maker;
- $100K-$1M: the taker fee is 20bps and 10bps for the maker;
- $1M-$15M: the taker fee is 18bps and 8bps for the maker;
- $15M-$75M: the takers fee is 16bps and 6bps for the maker;
- $75M-$250M: the taker fee is 12bps and 3bps for the maker;
- $250M-$400M: the taker fee is 8bps and 0bps for the maker;
- $400M+: the taker fee is 5bps and 0bps for the maker;
*Please check Coinbase’s fee structure before investing.
Crypto Trading Platforms
For more seasoned crypto investors and experienced traders, a trading platform can be the way to go, as it integrates features similar to those seen in exchanges and more. With the help of these tools, anyone can perform multiple exchanges from a single user interface.
Moreover, by accessing such a crypto tool, users can access multiple investment options, from buying and selling crypto assets to stocks, commodities, currencies, and cryptocurrencies.
3. eToro
eToro is a crypto trading digital product that helps you easily invest in all major currencies and enhances investors’ financial education. Furthermore, eToro is transparent with its fees, thus becoming a comprehensive tool that offers multiple investment options, such as stocks, currencies, commodities, crypto-assets, ETFs, and more.
eToro Best Features
- Buy and sell cryptos;
- Stock and ETF investing;
- Options trading;
- Trading app;
- Smart portfolios;
- eToro Academy;
- News and crypto analysis tools;
eToro Supported Cryptocurrencies
- Bitcoin;
- Ethereum;
- Bitcoin Cash;
- Litecoin;
- Stellar;
- Ethereum Classic;
- IOTA;
- EOS;
- NEO;
- ZCASH;
- Tezos;
- Maker;
- Compound;
- Chainlink;
- Uniswap;
- Shiba (in millions);
- Yearn.finance;
- Dogecoin;
- Aave;
- Enjin;
- Basic Attention Token;
- Algorand;
- Dash;
- Decentraland;
- Polygon;
eToro Fees
Regarding charging fees, eToro adopts a transparent model with no hidden management fees and 0% commission on stocks. However, eToro charges a 1% fee when buying or selling digital assets.
When it comes to CDFs, the charges are as follows:
- Currencies: 1-3 PIPs;
- Commodities: 2 – 13,000 PIPs;
- Indices: 0.75 – 10 PIPs;
- Stocks and ETFs: 0.15%;
*Before trading, be sure to check the eToro’s fee structure.
4. Binance
Established in 2017, Binance is one of the most well-known centralized exchanges and trading mediums that controls over 70% of the crypto spot trading volume. Also, it supports nearly all significant tokens, including Bitcoin, Polkadot, Litecoin, DogeCoin, and others, and offers advanced trading features. Besides being a CEX, Binance offers its traders a crypto wallet for depositing their digital assets, a mining pool with interest-earning features, and other features.
There is Binance US for American traders, which is somewhat similar to the parent platform.
Binance Best Features
- Exchange;
- Buy crypto;
- Leveraged tokens;
- Trading view;
- Pay;
- Academy;
- Live;
- Tax;
- Gift Card;
- Launchpad & Launchpool;
- Auto-invest;
- ETH staking;
- Defi staking;
Binance Supported Cryptocurrencies
As stated, there are some differences between Binance and Binance US, and the list of supported cryptocurrencies is one of them. As a result, on Binance US, you can engage with over 150 currencies, whereby Binance facilitates the trading of over 350 cryptocurrencies.
- Aave;
- Alchemy Pay;
- Algorand;
- ApeCoin;
- API3;
- Axie Infinity;
- Bitcoin;
- Bitcoin Cash;
- BNB;
- Cardano;
- ChainLink;
- Dogecoin;
- Ethereum;
- Ethereum Classic;
- Ethereum Name Service;
Binance Fees
- Depositing cryptocurrency on Binance is free of charge;
- Trading fees start at 0.1%, and you can get a 25% discount if you pay with Binance’s token (BNB);
- Withdrawal charges for fiat cash vary based on the withdrawal method and the currency;
*Please check their official website for a detailed Binance pricing analysis.
Crypto Market Analysis Resources
Crypto analysis tools are software products that help traders by providing real-time data, historical data, and technical analysis indicators on crypto prices, market trends, and others to improve decision-making while reducing risks.
So, by using crypto analytics tools, you can make informed decisions through advanced charting tools, trading volumes, and other fundamental crypto data.
5. CoinMarketCap
If you are one of those experienced traders who aims to upskill their trading strategy and wish to find some of the best crypto analysis tools, then CoinMarketCap could aid you.
From providing advanced features like real-time market data on cryptocurrencies, prices, market capitalization, trading volumes, and other influential factors to educational resources and a portfolio tracker, CoinMarketCap is your one-stop-shop tool for crypto traders and investors.
CoinMarketCap Best Features
- Crypto ranking, spotlight, gainers and losers, and trending;
- Top spot, derivatives, and DEX exchanges;
- Crypto community through feeds and topics, lives, and articles;
- Crypto converter, blockchain explorer and Telegram bot;
- Learning hub: news, academy, research, videos and glossary;
CoinMarketCap Supported Cryptocurrencies
This crypto analysis tool displays a detailed view of over 500 cryptocurrencies, offering key details such as the market cap, the price, the circulating supply, the 24-hour trading volumes, and the latest changes in the past seven days.
- Bitcoin;
- Ethereum;
- Tether USDt;
- BNB;
- Solana;
- XRP;
- USDC;
- Cardano;
- Avalanche;
- TRON;
- Polygon;
- Chainlink;
6. CoinGecko
When looking for one of the top crypto tools to keep up with the volatility of the crypto markets, you might stumble upon CoinGecko, a key player in the crypto analytics tools. By offering charting tools, details on multiple exchanges, comprehensive crypto reports, and market trends, this crypto research site can be used to gain a deeper understanding of the crypto market.
CoinGecko Best Features
- Fundamental analysis tools;
- Cryptocurrencies: price, trading volume, market capitalization;
- Exchanges, DEXs, and derivatives;
- NFTs overview;
- Learning hub;
- CoinGecko app;
CoinGecko Supported Cryptocurrencies
As seen in CoinMarketCap, CoinGecko also offers a detailed understanding of over 500 cryptos, listing their market capitalization, price, trading volume, and others to help investors make informed and researched decisions.
- Bitcoin;
- Ethereum;
- Tether USDt;
- BNB;
- Solana;
- XRP;
- USDC;
- Cardano;
- Avalanche;
- TRON;
- Polygon;
- Chainlink;
Crypto Research and Educational Tools
When it comes to educational tools, it doesn’t matter whether you’re a beginner or an experienced trader, as you must have your knowledge in place and keep track of the latest crypto trends.
Moreover, the best crypto research site provides:
- Guides and tutorials.
- Researching the blockchain and crypto industry in-depth.
- Offering advanced charting and crypto analysis tools.
- Increasing awareness and helping you make informed investment decisions.
7. CryptoCompare
CryptoCompare is one of those crypto research tools that provides a deeper understanding of crypto concepts like trading, mining, investing, wallets, and other vital factor within the industry. With its user-friendly interface, CryptoCompare offers additional research tools, such as the mining calculator, which helps determine the profit based on hash rate, power consumption, electricity costs, and mining pool fees.
CryptoCompare Best Features
- Live streaming prices;
- Advance charting tools;
- Comparison of mining equipment, exchanges, mining contracts, and wallets;
8. CoinDesk
CoinDesk is a prominent educational crypto tool that covers the latest news on blockchain, Web3, and cryptocurrencies, offering an objective view of some of the most crucial events and insights from the crypto market.
CoinDesk Best Features
- TV and videos;
- Newsletters;
- Podcasts;
- Events;
- Indices;
The Best Crypto Tax Tools
By now, we all know that cryptocurrencies and digital assets are subject to taxation in many countries, so we must discuss these powerful crypto tax software.
Crypto tax tools are software-based programs that offer features and products to alleviate and comply with tax regulations. From streamlined reports to calculating capital gains and losses, these tools integrate with some of the most popular exchanges and wallets.
9. CoinLedger
CoinLedger is among the most used crypto tax tools that offer seamless integration with popular exchanges and linking multiple exchanges to keep your taxes on track.
CoinLedger Best Features
- Tax forms;
- NFT tax software;
- Client tax management;
- Portfolio tracker;
- Crypto tax integrations;
- Learning hub;
10. Koinly
Koinly is an easy-to-use crypto tax platform that offers advanced tracking and reporting, supporting more than 20 countries. Also, the tax software allows users to import data from multiple exchanges and blockchains, ensuring efficient and accurate tax reporting.
Koinly Best Features
- Portfolio tracking;
- Data import;
- Crypto tax reports;
- Error reconciliation;
- Integration with some of the best crypto tools;
Decentralized Exchanges
As we all know, DEXs do not operate based on a central authority or without any intermediaries, and as such, they cater to a peer-to-peer medium for executing trades. Since they rely on the power of smart contracts, DEXs offer ownership over using your private keys and wallets.
11. UniSwap
UniSwap is one of the most used decentralized exchanges. Built on the Ethereum network, its liquidity is provided by its users who stake their digital assets. Using UniSwap, anyone can swap their token directly on the blockchain, as smart contracts power it.
UniSwap Best Features
- Supports ERC20 token;
- Liquidity pools for ETH-ERC20 pairs;
- Automated pricing;
- Trade ETH for any ERC20;
UniSwap Supported Cryptocurrencies
- Bitcoin;
- Ethereum;
- Tether;
- Binance Coin;
- Solana;
- Cardano;
- XRP;
- Dogecoin;
- Polkadot;
- Avalanche;
UniSwap Fees
The Uniswap v3 protocol has the 1%, 0.3%, 0.05%, and 0.01% fee tiers, and these fees are collected and stored but not added to the pool. The Uniswap v2 protocol only has a 0.3% fee tier, auto-compounded into the liquidity pool.
12. PancakeSwap
Built on Binance Smart Chain (BSC) and compatible with Ethereum Virtual Machine, PancakeSwap is one of the best decentralized crypto trading tools that offer lower transaction fees.
PancakeSwap Best Features
- Trade: swap, liquidity, perpetual, bridge, limit (V2), buy crypto, and earn trading rewards;
- Earn: farms, CAKE staking, pools, liquid and straightforward staking;
- Gaming marketplace;
- NFT collections;
PancakeSwap Supported Cryptocurrencies
- Tether;
- Polkadot Coin;
- EOS Token;
- Litecoin;
- Cosmos Coin;
- Bitcoin BEP2;
- Floki Inu Token;
- BitTorrent Token (OLD);
- Toncoin;
- Bitcoin Standard Hashrate Token;
- Conflux Network Token;
- Liquity USD Token;
PancakeSwap Fees
PancakeSwap has a fixed swapping fee of 0.25%, whereby 0.17% is added back to the Liquidity Pool. Also, please check the fee structure more in-depth on their official website.
Final Thoughts
So, as the crypto trading landscape continues to evolve, savvy traders must stay ahead of the curve and utilize some of the most influential crypto trading tools, enhancing their decision-making process.
We hope the discussed crypto tools provide a robust starting point for your crypto trading journey. As you gain more experience, you may look for other crypto guides and reviews to keep you aligned with your needs and preferences.
However, it is essential to understand that the key to successful crypto trades lies in combining technical skills, a fundamental understanding of the crypto industry, and a strategic decision-making process.
As always, do your due diligence and read more, inform yourself, ask when you don’t know, and don’t jump into the water without a security measure.
