The crypto market is highly volatile, and investors make a profit off this huge variation in price. That is why it is essential to keep track of the investment portfolio so that it can be effectively managed, and more profits can be earned. A crypto market is a place that is bustling with activities and changes happen very fast here. Hence, it becomes essential to get updates on every single piece of information, and a prudent investor can never deny the role of reporting tools used for this.
Read on to know about the best cryptocurrency tracking and reporting tools available in the market and how to extract the maximum out of them:
Crypto calendars
Being able to conveniently track an online platform of upcoming events related to crypto is incredibly valuable. Information is as precious as gold in the crypto market and missing out a small point can result in missing profits. Hence, to get as much information as possible can be quickly done when using calendars like coindar. Many experts using coindar have earned profits by tracking significant events which influenced the crypto price. There are numerous filtering and sorting options which can be used by an investor to focus on what he wants.
Coin tracking solutions
These tracking solutions help in recording all your crypto-related information and transactions into it. The benefits of tracking are that the investor will have better management of funds, and the information is useful for taxation purpose too.
In these, an investor can record wallet addresses, popular links related to crypto, purchases, withdrawals, trades, and transfers. This serves as a complete record of all the transactions of a person in the crypto market and will serve for future reference. Some of these tracking solutions even support numerous languages and can even automatically get the inputs of a user’s trade.
Transaction tracking system
Transaction tracking systems are used by crypto exchanges to implement compliance adherence regarding anti-money laundering and KYC policies of a country. In a few countries, the governments which show interest in tracking and regularizing the crypto market use the tracking system to the maximum possible extent to extract private information. There are numerous projects wherein countries join hands together to create an efficient tracking system.
Coin’s slack channels or blogs
These are communities wherein the investors can get useful information and latest market updates. The development team within the community joins hands together and runs the blogs which facilitate interacting with the crypto community. These channels provide checklists on cryptoanalysis, and it will be easy for an investor to analyze his performance in the crypto market. A good example would be vanillacrypto.com.
Market capitalization websites
These websites provide all information related to market capitalization, and the investor can get a clear picture of various crypto assets. Websites like Crypto Head provide clear information analysis on the market price of listed coins, price movement, supply and demand statistics, etc. These websites are great places to get the charts so that the investor can select the price level at which he wants to trade.
Professional charting platforms
Professional charting platforms are good spots where beginners can learn from the trades of the experts. It serves as a knowledge bank wherein the beginners can get to interact with and learn from the experts of the crypto market. This trading software which connects various crypto trading markets also offers these platforms as additional services where an investor can get the most powerful tools.
Multi-platform tracking apps
These can track investments done by a user in various markets and track them effectively. One can view price charts, examine order books, set alerts, and examine volumes too using these. These apps also serve as an archive for various other apps, codes, and algorithms which is open source and can be used freely by the investor. Few apps can automatically check the investor’s interest in some crypto-related activity and count these in the form of commits. The crypto community will pay more interest towards the investor accounts with a high number of commits.
Social media tools
When the crypto investors take up on social media, and there are many discussions and analyses on strategies, new cryptos, and latest market trends. Participating in such analysis will improve the prospects of earning good profits for a beginner and help them avoid mistakes and get their queries solved. There are various white papers on social media tools explaining the problems and solutions in crypto trading techniques.
All these can certainly help in taking cryptos to the next level of acceptance, and the investors would find the tools satisfying all their investment needs and queries. No doubt that these analysis and reporting tools would fix the loopholes in the system and attract more investors towards the crypto market.
