Your Guide To The Must-Have Essential Cryptocurrency Investment Tools
If you’re thinking of investing in cryptocurrency, using the right investment tools are essential to making informed investment decisions and protecting your investment.
This article will help you understand some of the crucial tools you need to manage your crypto portfolio, executing a trade on the go, protecting your account, as well as tools that keep you bang up-to-date with all the latest crypto investment news.
Here’s the snag: Because there are so many tools to choose from, which ones do you go for?
Or perhaps you're new to crypto and you're not even sure what tools are out there.
Fear not! We’ve got you covered with a rundown of all the must-have essential cryptocurrency investment tools for your investment needs.
Want to view the latest trade ideas? Want to post a trade idea of your own?
Or perhaps you simply want to chart up coins and find out prices wherever you are.
You can do both with TradingView, a desktop and mobile app that’s essentially an online portal stuffed with lots of charts and crypto trading ideas.
TradingView is a great tool for traders that lets you draw literally anything on charts and perform technical analysis till your heart's content.
If there’s going to be a lot of cash swimming around your portfolio, you need a tool like Blockfolio.
Blockfolio is a really simple portfolio tracking tool with easy-to-understand graphs.
Blockfolio lets you set alarms for a specific price of a specific coin, and also lets you pin various cryptos on watchlists to your dashboard.
However, there’s a caveat: Because it’s 100% customizable, you’ll need to enter any and all data manually.
This can be time-consuming, but hey it's free!
Wish you could focus on candlestick charts while an app took care of all the bookkeeping for you?
Cosmo could be the dream app you’ve been waiting for.
It offers an extensive library, lets you import CSV files and comes with easy-to-understand performance tracking, and records transactions manually.
CoinTracking is feature-heavy and has recently been upgraded to include a tax tracker functionality.
The dashboard is easy to navigate and displays a huge amount of info, the app comes with a few basic charts and research tools, and also supports 5 wallets and around 30 exchanges.
Trust me the tax tracker feature is a major bonus, especially with all the recent signals suggesting that governments will soon start to crack down on folk who aren’t declaring their profits on crypto gains.
Ever been hacked? It’s kinda scary. Our first thoughts are always with our private data and what’s just happened to it.
And here’s the thing: Once our data is out there, we can’t get it back.
It’s the same with our coins.
Protection is so important for crypto investors, and this is where account and computer protection tools come in. Here are two of the best:
Authy is a great tool that allows you to back up your two-factor authentication apps on multiple devices.
Authy allows you to have peace of mind that if you ever lose your mobile phone that you can still access your crypto platforms and generate that two factor authentication code.
Access to your online wallets won't be lost.
This is a must-have not just for crypto investors but for anyone who uses two-factor authentication across different platforms.
Wanna know if someone is mining crypto in secret using your computing power?
This app lets you check to see if websites you access are doing exactly that while you’re visiting them.
If they are, they’re using and abusing your CPU power and costing you electricity. Not cool.
Whoismining.com requires no installation, is super simple to use and protects you from nefarious websites that have questionable intentions.
If you discover any rogue websites, don’t forget to flag them with the crypto community.
Want to keep up-to-date with all the latest cryptocurrency events? Then you need CoinMarketCal, a community-based crypto events calendar website that will ensure you never miss a key gig.
Maintained by the community, this events calendar lets users add upcoming events or receive email notifications from coin rebrands, to coin forks to stay on top of the latest crypto news.
CoinVision described Coin Market Cap as “the most trusted index for historical snapshots of cryptocurrency market capitalisation rankings,” and they might have a point.
Coin Market Cap gives you super fast access to crypto news, charts, coin details, exchange markets, market cap, and those all-important crypto prices.
If you want access to breaking news in the crypto world, Coin Telegraph is well worth downloading.
Coin Telegraph gives you access to the latest hot-off-the-press articles allowing you to trade and invest at opportune moments based upon the latest information from reputable sources in the cryptosphere.
Coin Telegraph's mobile app comes with push notifications so that you can stay up-to-date while on the move, and it delivers in-depth articles as well as how-to guides that help to explain the fundamentals of cryptocurrency.
It also offers unmissable price analyses.
Cryptocurrency Hardware Wallets
Hardware wallets are probably the most secure way to store your coin private keys.
You can think of a private key as being like the PIN number for your bank account.
Private keys are the cryptographic code that allows you to connect to the blockchain and make transactions on the blockchain.
Only you should have access to your private key. Never divulge this to anyone.
A common mistake that people make is that coins are stored in your crypto wallets.
This is in fact incorrect. It is your Private keys that are stored in your wallet.
And the safest way to protect your private keys is in a hardware wallet that does not connect to the internet.
Offline wallets are extremely hard to be hacked. As a result, if you're serious about protecting your crypto then you must have an offline or “cold storage” hardware wallet,
Ledger Nano is the first most popular hardware wallet aimed at Bitcoin and alternate coin investors who want more security that we recommend.
Thanks to a second security layer, Ledger Nano is able to thwart attack vectors.
You can purchase the Ledger Nano wallet by clicking this link.
Trezor is the other most popular alternative and is ideal for anyone who needs a place to store a lot of Bitcoins.
Trezor is a popular bullet-proof wallet that protects your private keys from malware, phishing and hackers.
Allowing you to keep your coins save.
Trezor is also easy to use, open source and ideal for beginners.
A hardware Bitcoin wallet, Trezor is ideal for anyone who needs a place to store a lot of Bitcoins. It’s bullet-proof against malware and your private keys will never be exposed.
Trezor is also easy to use, open source and ideal for beginners. It does, however, cost $99 and is a little bit more on the pricier side.
These are a selection of best must-have cryptocurrency investment tools you should have.
Got any questions? Comment below and we’ll get right back to you.
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This article does not constitute financial advice and all investors should invest in cryptocurrency at their own risk and get independent legal and financial advice should they feel it necessary.