Crypto tools are your gateway to buying crypto, honing your trading strategies, keeping up with the market, and paying proper taxes on your crypto earnings.
We asked our CEO and crypto expert, Shawn Munir, about what he considers to be the top crypto tools to use today, and he gave us a huge list that we fully agree with!
“These are the things I use almost every day when running research on new projects, aping into shitcoins, or looking at long-term HODLs and a no-brainer if you ask me. “ — Shawn Munir
Here are the best crypto tools to streamline and beef up your investing strategy.
1. Real-Time Tracking and Portfolio Management
Keeping track of market movements is a key component of successful crypto investing.
CoinGecko is a tool that helps you monitor price changes in coins you’re interested in or already hold in real-time. This can help guide you on when to buy and sell different currencies and provide advanced analytics.
CoinCodex is another popular tool for tracking token prices in the market and your portfolio. It aggregates data from many web sources on crypto coins. It also provides predictions for tokens.
Another valid alternative is CoinMarketCap – or Coinweb itself.
2. Crypto Tax Tools for Efficient Tax Planning
Depending on where you live, you may need to pay taxes on any crypto you receive as income or on capital gains earned when your holdings increase in value.
CoinLedger simplifies filing your crypto taxes, calculating how much you owe automatically based on your region and portfolio performance. It can also help you maximize your tax returns, filing on your behalf as an official TurboTax partner.
More details
Coinledger is a cost-effective way of filing crypto taxes without manually inputting transactions into your tax forms. The software integrates with major exchanges and wallets using APIs or public wallet addresses, automatically importing transaction data. It also identifies investments to sell at a loss to reduce your tax bill.
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Smooth integration of exchanges.
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Easy import and export of data.
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Effective tax management.
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Save money on tax.
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Limited international country support.
3. Cryptocurrency Exchanges
Crypto exchanges allow you to buy, sell, and trade various cryptocurrencies and NFTs. A few of the most popular exchanges that we’ve used extensively and recommend are Binance, Kraken, Crypto.com, and Coinbase.
Exchanges serve as intermediaries between crypto traders, ensuring security and compliance. Many exchanges also provide a hot wallet, allowing users to store and trade their crypto. Exchanges are also increasingly introducing NFT marketplaces to facilitate purchasing and trading digital art.
We’ve reviewed the top exchanges based on your region, as some exchanges aren’t available everywhere or have different feature sets.
- Best Crypto Exchanges in 2024
- Best Crypto Exchanges in Canada
- Best Crypto Exchanges in Australia
- Best Crypto Exchanges in India
4. Cryptocurrency Trading Platforms
A helpful accompaniment to crypto trading is tools like TradingView that provide advanced charting capabilities and trade planning and modeling.
TradingView offers “supercharts” combining multiple markets, heatmaps, real-time updates, and a social trading community for both crypto and traditional finance.
There are also exchanges that offer trading simulators, allowing you to try out trading strategies before risking actual money. A few solid options are eToro and Phemex. We’ve also reviewed the best exchanges for day trading, including Crypto.com and Kraken.
5. Decentralized Exchanges (DEXs)
Decentralized Exchanges (DEXs) have no intermediary, facilitating peer-to-peer (P2P) trading. They offer more control and privacy, as these platforms often don’t require any identity verification.
Uniswap, PancakeSwap, and dYdX are some of our most trusted decentralized exchanges. However, you must be aware of any regional restrictions and compliance risks when using decentralized exchanges.
We’ve rounded up our top picks for decentralized exchanges to help you choose the best one for you.
6. Market Analysis Resources
There are several tools for market analysis to give you better insight into protocols, token activity, airdrops, and more. DeFiLlama is a free aggregator offering blockchain analysis and DeFi reports to provide transparency on market performance and project activity.
Glassnode is a paid tool offering market research, insights, and on-chain data dashboards. This is better suited to web3 investment firms, established companies, and experienced traders.
7. Crypto Research Tools
If you’re looking for more in-depth research and insights into the crypto space, there are excellent platforms available, like Dune Analytics and CoinDesk.
Dune is a paid platform that allows you to query, visualize, and share data from 26+ blockchains. It’s used by all the big names in the crypto space, flexing with 750K+ premium insights and integrating with most tools in your tech stack.
CoinDesk is a well-known crypto news and information site with a page dedicated to research. They create and publish webinars, annual reports, and thought leadership from influential voices.
8. Hardware Wallets
Hardware wallet, or cold wallets, store your crypto assets offline for better security. They’re physical devices that connect to your hot wallet or exchange app through a cord connection or Bluetooth.
Ledger is the most well-known brand of hardware wallets, with models like the Ledger Nano offering excellent security and ease of use. You can get 10% off all ledger hardware wallets with an exclusive offer for Coinweb.com readers.
More details
Ledger Nano S Plus is a fortress-like protection for your digital wealth, sporting an affordable price point. This crypto wallet supports many cryptocurrencies and blockchain networks, making them easily managed via the reputable Ledger Live app. Despite its significant advantages, some users have noted the lack of storage capacity.
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Support for up to 5,500 cryptocurrencies.
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Private keys are always offline.
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Integration with other hot wallets.
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Support for staking.
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NFT support.
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High fees for Ledger Live crypto purchases.
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Limited app space.
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Small display.
Keep your hardware wallets in a secure place. They’re safe for storing your money. We reviewed all of our top picks for cold wallets.
9. Crypto Wallets
Crypto wallets store your cryptocurrency and NFTs. There are two types of crypto wallets:
- Hot wallets
- Cold wallets.
Hot wallets store your crypto online, where it’s ready to be traded or sold. Many exchanges like Coinbase also offer a wallet, but it’s advisable to use a separate wallet for all of your holdings, like Metamask. Hot wallets are best for active trading, but they come with more security risks as they can be accessed more readily.
Cold wallets store your crypto offline on a physical device connected by a USB cord or Bluetooth connection. Here, your crypto isn’t accessible by anyone and is very secure. You can lose your hardware wallet if you have the 12- or 24-word private key. Treat your private key like gold because if you lose it, you’ll lose any crypto stored on it—without the ability to recover it again.
10. Crypto Trading Bots
Crypto trading bots allow you to trade fully automatically based on specific algorithms or price indicators. Once you set up a trading bot, it will execute trades on your behalf, and you can monitor its performance over time.
There are pre-set algorithms for bots and options to fully customize the strategy from a variety of trading bot tools, like Cryptohopper and 3Commas. Exchanges, including Binance and KuCoin, are now adding native trading bots to make setup easier.
See our expert-verified picks for the best crypto trading bots.
11. Cryptocurrency Educational Platforms
There’s no shortage of crypto education out there, so there’s no need to pay for expensive courses. You can even earn free crypto while learning through learn-and-earn programs like Coinbase Learn, offering up to $200 in rewards. Other educational platforms to consider that also offer rewards are Binance and CoinGecko.
We reviewed all of the top learn and earn programs for you.
Beyond learn and earn programs, there are news sites like us, free courses on Udemy, podcasts, and Youtube channels offering educational content.
12. Crypto News Websites
There are tons of crypto news sites out there, but you need to be wary of misinformation and quality of sources.
At Coinweb.com, we strive to provide expert-verified answers to all your crypto questions, so you can get trustworthy, actionable information.
A few other news sites we recommend are Blockworks, Decrypt, and The Defiant, each with a different focus area and style of content.
We created a comprehensive guide on the best crypto news websites to help you get quality information.
Wrapping It Up
The top crypto tools make investing easier and more profitable, but it can be challenging to evaluate all the options.
Create a strong base of market analysis resources, portfolio management tools, crypto trading tools, and ways to keep up with the latest crypto trends and connect with other crypto enthusiasts.
Based on your goals, level of knowledge, and region, lean on our expert picks to help you build your personal web3 tool kit.
