Every job must have a tool so that the work becomes more efficient and effective, in the world of cryptocurrency trading, traders always use several tools such as websites, special software, and others to get the expected profit to minimize failure.
For those of you, beginners who carry out trading activities without planning and assistive devices can be likened to fighting without weapons and strategy, and of course, this can lead to failure and damage your financial health. Of course, failure is not expected, right? For that, I will share crypto trading tools commonly used by professional traders.
"Please note, the list below is what I use frequently and I get from professional traders' advice"
Crypto Exchange is a battleground for traders, "there is a saying you must know the battlefield to win" therefore choosing a stock with a good reputation is a must. You can see the list on crypto data provider sites such as CMC, CoinGecko, and others, but I recommend using the Binance exchange because it is the exchange that I use and is one of the best exchanges in terms of facilities, security, features, and customer support.
If you use a Binance token (BNB) to pay a transaction fee it will incur a 50% discount, in addition to that transaction costs, buy & sell price gaps, and withdrawal fees are the lowest among the others. Binance also regularly holds interesting events and contests to pamper its users.
Professional or large traders often open this site because it is a cryptocurrency economic calendar, by visiting coinmarketcal you can find out all information about cryptos such as Dapp releases, airdrops, listings, and others and besides that users can also verify the information.
By knowing what is being done by the coveted dev coin team you can influence your steps in making decisions.
Is an application that presents updated cryptocurrency news compiled from a variety of the most popular crypto news sites, this app is available in free and paid versions and can be accessed through a web browser or can be downloaded on PlayStore & AppStore.
This application is also equipped with features to follow YouTube, Twitter, and Reddit channels to find out market sentiments accurately, and you can also set news based on your coin part.
4. Nano Ledger Wallet Hardware
It is important to know that professional traders keep most of their coins in cold wallets and keep some of their funds on the exchange, this is done as an act of prevention and security from crypto theft that often happens on the crypto exchange.
I recommend Ledger Nano or other series because of its benefits, but you can choose other hardware wallet products such as Trezor and KeepKey depending on your taste and pocket.
5. Tracking market prices and volumes
At present there are many sites displaying crypto prices and others and the most popular ones are CoinMarcetCap and CoinGecko, whichever choice depends on you and after all each site sometimes has different algorithms and facilities.
You must regularly visit the crypto price and volume tracking site to find out crypto prices in the market «I consider it average because every tracking and exchange site has different prices», knowing the market price and trade volume it is not difficult for you to know which coins are is bullish or bearish.
Trading terminals and bots are trading tools that are very popular and are often used by traders whether crypto or forex, these tools can help you to trade on various crypto exchanges together and make more profit while you are sleeping or exercising.
One of the most popular trading terminals is TradeSanta, I recommend it because it has a UI that is comfortable and easy to understand for beginners and only takes 2 minutes to set up the bot. TradeSanta is integrated with the Binance, Bittrex, Bitfinex, HitBTC, and other exchanges which will soon be supported.
TradeSanta is available in a free and paid version with several packages offered.
"Trading without planning and tools is like fighting without weapons and strategy"
