The cryptocurrency markets have been growing at a rapid pace over the past several years, and staying on top of the constant developments can be an arduous task. Luckily for market participants, there has been a tremendous increase in the amount of high-quality resources that can help guide them through both calm and turbulent times.
Keeping track of all these resources can be difficult, so here’s a rundown of the best tools for investors and traders who are looking to effectively navigate through the cryptocurrency markets while also keeping their finger on the pulse of the industry.
Charting and Trading Strategies
One of the first things that cryptocurrency market participants will want to begin utilizing in order to increase the efficiency of all their trades is TradingView.
TradingView is an advanced charting platform that allows users to craft custom charts for virtually every major asset – including all major cryptocurrencies – with multiple timeframes, indicators, and chart types.
Although the cryptocurrency markets constant volatility is seen as a liability by analysts who believe that the lack of stability is what has hampered widespread adoption of the technology, it is seen as a feature by many investors and traders who are looking to see massive growth on their investments.
While keeping this in mind, TradingView can greatly aid both passive and active investors in making well informed decisions regarding potential entrance and exit points for their trades.
For passive investors who are looking to build a portfolio of long-term holdings, utilizing TradingView’s macro timeframe charts can help them to gain deeper insights into which price regions are attractive entry and exit points.
On the flipside, investors who are looking to actively trade cryptocurrencies can use the abundance of tools and indicators offered on the platform to make well-informed decisions regarding each and every trade they make.
Additionally, TradingView has also introduced a social element to their platform, allowing traders and investors to share ideas regarding different trades or trends, which can prove to be invaluable guidance to both experienced and novice traders alike.
Platforms for Investing and Trading
There are two primary approaches that individuals can take in order to become participants within the cryptocurrency markets, with the first being a passive approach that entails building a large portfolio of spot crypto holdings that are not regularly traded, and the second approach being an active one that involves frequently utilizing the previously discussed tools in order to build a profitable trading strategy.
For passive investors who are looking to build a portfolio of cryptocurrencies, Binance – one of the world’s largest cryptocurrency exchanges by trading volume – is the best option, as it allows users to easily and securely buy Bitcoin and a plethora of altcoins while also offering a fiat on-ramp and consistent performance.
Binance, however, is not the ideal platform for those who are looking to take an active approach to cryptocurrency trading, as this strategy is best enhanced by utilizing a platform that offers leverage and advanced trading tools on a variety of digital assets.
Currently, PrimeXBT is the best platform available to traders who are looking to employ margin in their trading strategy, as it offers 100x leverage on Bitcoin and other cryptocurrencies while also allowing traders access to a wide variety of other markets.
This platform gives traders the ability to use multiple order types to both long and short the markets, which means that profits can be incurred regardless of which direction any particular asset is trending.
Additionally, PrimeXBT also gives its clients access to cutting edge tools and indicators that can enhance traders’ ability to turn consistent profits on their trades, while also offering state of the art security features that ensure the safety of user’s funds.
News and Industry Developments
Analyzing the technical patterns that guide a particular cryptocurrency’s price and using a quality platform to act on this analysis are undoubtedly crucial parts of all market participants’ success within the industry, but there are other, more fundamental, factors that hold tremendous influence over the markets, and prudent investors universally recognize this.
There is currently a multitude of quality resources that offer free insights and analysis of all the important developments taking place in the markets, with The Block, Coindesk, and Cointelegraph, all offering readers with access to all breaking and important news relating to changes within the industry.
Although the crypto markets are primarily driven by technical factors from a price perspective, occasionally newsworthy developments do play a role in influencing the price action of major cryptocurrencies.
One example of this can be seen while looking at Bitcoin’s meteoric rally in late-October that sent it from lows of $7,300 to highs of $10,600, which came closely on the heels of comments from the Chinese President regarding his intention to make China a global leader in the growth and adoption of blockchain technology.
Staying on top of breaking developments like this one can prove to be incredibly valuable to investors and traders alike, as they can catalyze massive price movements.
Data and Research
Data is a key component of understanding the fundamental factors that underlie the cryptocurrency markets, and research surrounding this data can prove to be incredibly valuable to traders who implement this when forming strategies regarding how they want to go about trading in the volatile markets.
One great resource that offers users an abundance of data relating to Bitcoin, altcoins, and the aggregated crypto markets is Messari, which is centered around the simple premise of offering users factual, transparent, and easy to interpret data that can help aid investment decisions.
Data Dash – the largest cryptocurrency YouTube channel – is also a great resource for traders looking for videos that take a data-driven approach to translating fundamental data into actionable insights that can help enhance their trading strategies.
The cryptocurrency markets have been moving at a dizzying speed in the time since Bitcoin’s inception, and without relying on the proper arsenal of tools and resources, it’s easy to get left in the dust. Despite this, by utilizing the resources discussed above, all investors and traders can exponentially increase their chances of success.
Cryptocurrency Trading Platforms
There are several exchanges that we can use in order to start trading cryptocurrencies. However, some of them have been working for many years compared to others. We will focus on some of these platforms and how they could help us get access to some of the most advanced trading solutions available right now.
In the next sections, we will focus on Vantage FX, Apari and Exness, but you can use any other forex broker in the market. These are just some of the companies that are now offering services to users from all over the world and that makes it easy for individuals to understand how virtual currencies and other assets work. Take into consideration that there are many other trading platforms available in the market.
Trading platforms are different depending on the needs of each of the users. Some traders prefer regulated platforms while others prefer to trade on established exchanges. This is why it is so important to analyse the different options provided by the market and make a decision regarding which platform meets the needs of each of the traders.
Vantage FX Review
Vantage FX is a broker that focuses on CFDs, digital assets, commodities and indices, among other assets. Traders from all over the world are able to trade currencies and other types of trading pairs and enjoy a withdrawal fee of $0 when they try to take their funds out.
One of the main questions about exchanges and brokers is whether they are safe and regulated. The good news is that Vantage FX is regulated and authorized in different jurisdictions such as the United Kingdom, Australia, Vanuatu and the Cayman Islands. This shows that the platform is regulated by some of the most recognized financial markets regulators in the world.
For users that want to trade currencies, the EUR/USD spread is 1.15 and the minimum deposit is $200. Although some other brokers have lower deposit requirements, Vantage FX has more than 310 products available for users.
Users can connect the trading platform with MT4 and MT5 in order to get access to an even better trading experience. Although the fees are closely related to the account type, the broker charges commissions and makes a difference with the spread.
There are three main account types for users: Raw ECN, Standard STP and Pro ECN. Depending on the solutions you need, you would be able to choose one or another account.
Exness is another popular broker in the market that is currently available to investors. The platform delivers tailored financial services to users located in different jurisdictions and locations around the world.
The company has offices in three different countries, the United Kingdom, Seychelles and Cyprus. Thanks to a large number of forex, cryptocurrencies, indices and CFDs offered by the platform, users can enjoy a unique trading experience that is suitable for both beginners as well as professionals.
This broker can also get connected to the MetaTrader 4 and MetaTrader 5 platforms, and it also offers a demo account for users that want to test their trading skills without risking real money. Moreover, it has a minimum deposit of $1, which is very low when compared to other platforms in the market.
Furthermore, the base currencies include USD and EUR. This is the current standard for other platforms as well. In addition to it, Exness is offering learning content for users. This helps them understand how the market works and what they should expect about it.
Finally, Exness has been regulated by the CySEX and the FCA. This shows that the platform is regulated by several institutions and it should be considered a legit and secure platform to operate different currencies, digital assets and indices.
Alpari is mainly a forex broker that offers not only currencies but also metals, indices, cryptocurrencies, stocks and commodities. The platform has more than 250 products available for traders that want to expand their trading activities in the market and execute their strategies.
The Alpari exchange is a Russian company that operates in Belize and Mauritius. Although the company does not hold recognized licenses, it has two offshore licenses and it has been operating for several years in the market. Sometimes, having a company operating for several years and offering high-quality services is what matters the most rather than having licenses from recognized jurisdictions.
At the moment, the platform offers just 4 different cryptocurrencies, 8 commodities and 48 forex pairs. This is why this platform is very useful for those traders that focus on the forex market and currencies. Alpari is not offering bonds to traders.
Alpari is also making it possible for users to deposit funds using a bank wire transfer, credit or debit cards, Neteller, skrill, cryptocurrency wallets, Bitcoin and many other options. Depending on the country you operate in, you will have different options available. The positive things are that they do not have deposit fees and the minimum deposit is $5 for Micro Accounts and $100 for Standard accounts.
Finally, Alpari has very good educational content and very high-quality materials. This makes it easier for users and investors to understand how to better execute their strategies and how to properly understand the volatility in the market.
These are just some of the platforms that are currently available in the market and that will make it possible for you to get access to some of the best trading solutions in the world.