Searching for hidden gems is kinda requiring, isn't it? Today we are going to list some decent tools I use to discover some hidden gems. Bear in mind that this is my personal opinion, so if you use any other tool which is missing make sure to provide your feedback below.
1. CoinGecko/CoinMarketCap
CoinGecko and CoinMarketCap are tools designed to analyze the evolution of the crypto market. Both of them calculate the market capitalization of thousands of projects as well as the price volume at various time units. I included them together because they are similar in terms of functionality and cover the same needs.
By using filters we can additionally track other variables useful for our research like the biggest gainers and biggest losers. CoinGecko tracks data like community growth, open-source effectiveness, and exchange performance. On the other hand, CoinMarketCap lists similar data and provides more categories based on blockchains, portfolios, and random features (smart contracts, hospitality, etc.). Finally, both projects provide educational content for newbies like a glossary with useful terms, guides, etc.
Personal experience: I began my journey in crypto by looking for tokens in CoinMarketCap. I liked it a lot because it has unique features that quickly caught my attention (especially the diamond system and the Learn & Earn program). In terms of gems, I have discovered some interesting projects by navigating through the biggest earners category. I usually look for coins that are featured continuously and then explore the website, read the whitepaper and search for their source code in Github to figure out if they are honeypots or not (there is another tool for the latter, which is listed below).
2. DEXTools
DEXTools focuses on the evolution of tokens launched at various blockchains, It additionally lists new pairs immediately after their release on decentralized exchanges based on their blockchain. The project has a token named DEXTools (DEXT) which is used to get access to exclusive chats and advanced market tips.
Personal experience: It is among the first tools I came across in the crypto world when I was watching videos on how to find promising shitcoins. I have mostly used it to find new tokens to invest in and expect an early return, but most efforts were unsuccessful. It's still ideal to discover new tokens at the earliest stage (and of course new honeypots...).
3. BscScan/ Etherscan
BscScan, Etherscan, and other blockchain explorers are tools launched to meet various purposes for both developers and investors. Most importantly, people can view addresses, number of token holders, smart contracts, transactions as well as statistics related to the blockchain. It's a deep dive into the fundamentals of the blockchain, as everything that happens there is automatically reported (including illicit actions).
Personal experience: Even if I don't use it a lot, I usually try to discover key functions of a token, especially the smart contract and the number of holders.
4. Honeypot Detector (for BSC and Ethereum)
As the name says, Honeypot Detector is a tool used to identify honeypots on the Binance and Ethereum networks. Users can just enter the token address and get the result in a few seconds or minutes, as the tool processes to complete a buy & sell transaction. Bear in mind that any token can become a honeypot after a small change in the source code, therefore if you want to invest in a disputed project be cautious. Furthermore, developers are working on creating similar detectors for more networks (the website mentions Avalanche and Polygon in particular).
Personal experience: I have used it various times to identify honeypots after my research. It has never let me down and saved me multiple times from wasting money on useless scams.
5. LunarCrush
LunarCrush is a platform featuring everything about various tokens published on social media. In its market feature, it shows the tokens and ranks them based on categories like social engagement, mentions, etc. By completing simple tasks (giving opinions, staying active, etc.) people can receive up to 0.1 Lunr daily.
Personal experience: I have used it only for a few weeks, as it's a tool I found out recently. So far it's something interesting, even though I haven't used all the features yet and I need more time before giving you a full-scale opinion on the concept.
6. Crypto Gems
Crypto Gems is a tool that provides reports on various crypto projects. Users can additionally sign up with their email to receive their content immediately.
Personal experience: I like using this tool because its reports are comprehensive and convenient, plus the projects are very promising.
Conclusion
Using advanced tools is important to boost our research and culminate in more effective and profitable investments. I strongly recommend you the ones mentioned above, as they haven't let me down. Even though I am confident most of them are familiar to you, some tools are less known to people and have delivered outstanding results.
Crypto means freedom and responsibility. Invest wisely!
Important links:
Registration links:
- Sign up in Binance and win an NFT!
- Get up to $40 as a registration bonus in CakeDefi!
- Earn diamonds with me in CoinMarketCap!
- Claim free 676 DTC in DeltaChain (HurryUp)!
- Earn free ZEN in Horizen!
- Go to NEAR Protocol for the airdrop!
- Earn free ASK in Permission!
- Earn free 1FLR, MATIC, and ZEC in PipeFlare!
- Sign up in XT.COM and trade selected currencies!
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