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I made a post a couple of months ago that you guys liked about crypto research tools for a bear market. Honestly, I couldn't have foreseen this everything that has happened since, especially the FTX entertainment. That being said, I have created a list of tools that should help the average trader learn & hopefully recoup. There will be no token shilling or affiliate links, etc. I've broken this down into sections: Research / Data toolsalphaday Alphaday is pretty cool, I've been using it daily. It's basically a simplified version of Messari, not as convoluted, and is pretty good at just working out of the box. It's entirely free and offers quite a lot of features, such as:
Messari I will mention this tool as well, it's a little more complex than Alphaday but if you're big into data it's a fantastic tool. It doesn't allow you to customize the dashboard with dragable widgets and there is a paywall, but the actual tool itself is pretty powerful
breadcrumbs A little different, this tool allows you to trace and monitor crypto transactions. With everything going on with SBF etc, this is a prime example of a tool you should familiarise yourself with. It is a paid tool but has a free option which is more htan enough for a casual trader/enthusiast.
Crypto TaxesA typical hot topic and one many of us will want to get done properly if we were caught in the FTX Crossfire. Koinly.io This is the crypto taxing tool I use as it hooks into varying exchanges via API and pulls everything in. It isn't perfect though, it does require manual checking (A quick glance is usually more than enough). There are other options, and this one works particularly well for me as a UK resident, when it comes to LIFO, HIFO & FIFO, this tool is a lifesaver for handing over reports to your taxman.
Accointing Similar to Koinly, however, organized a little differently. This tool does cost more but has a fantastic community that will assist you with any issues. It also offers more exchanges & multi-wallet connectivity, I've personally found this a lot quicker than Koinly's scanning, likely due to the multiple methods of pulling in transactional data.
WalletsI'm mentioning this because it's become very apparent with FTX that "Not your keys, not your coins" is still something that needs regular teaching. I will cover my personal favorites for each blockchain I personally use and some other names Metamask Old faithful for basically most blockchains, you can add a variety of networks to this wallet. From ETH, SOL, AVAX, Polygon, and more! Whilst it does support a huge array of tokens, it doesn't currently support BTC. The tool itself is free, which is excellent, and you can create multiple wallets within the one app that allows you to dedicate certain transactions to each wallet (Great if you manage multiple funds). It is becoming more mainstream and as of writing this, they rolled out an update for US users to fund their wallet with ETH using Paypal. Ledger I'm mentioning a physical and costly wallet because it's the ultimate form of keeping your crypto as safe as possible in your own hands. These fantastic little devices allow you to keep your tokens off the grid and come in a variety of sizes and pricing. I personally use the Nano S Plus (Not as much as I should), but it's great for what it is. If you have the funds, keep them safu. Knowledge / EducationNo paid courses, no weird guru shilling. Just some fantastic free education content that every trader should at least spend some time on. Coin Burea – Educational Guides Playlist https://www.youtube.com/watch?v=M7UfwipG2X0&list=PLk1ALX7IOH_npyk1W_88gxTDpTEfZg_Og&index=119 This is a great guide to have on in the background and is updated constantly. It's nothing super intense, but it's easy enough to digest in small quantities. I highly recommend this playlist for a beginner-intermediate Coinbase Crypto Learning Whilst Coinbase may be an exchange, they have a fantastic and vast education area for learning about crypto. Pair this with their "Paid to learn" in their exchange, and you've got a recipe for something cool. I personally send out their "Crypto Basics" section quite a bit in Discord. submitted by /u/Xtrapsp2 |
via Cryptocurrency News & Discussion https://www.reddit.com/r/CryptoCurrency/comments/zm4n3l/crypto_tools_to_help_save_your_ass_in_this_market/
