Since 2009 when a new invention was published – bitcoin currency, there has been an upsurge of crypto in the market. This has been a market that has seen some significant ups and downs over the years as much as any. Today though, there are plenty of other cryptos to look at.
This market can easily be termed blockchain, as this is the public ledger where every transaction is recorded. There are several tools that to use when it comes to trading crypto. They can help you dominate the market as any pro in it would, and these tools include.
1. Binance
One of the top tools that you can have when it comes to trading crypto. It would help if you had a portfolio first before engaging in any form of trade here. With Binance, you can have a look at the set benchmark for the whole exchange.
What this tool helps you with is keeping up to date with what’s happening in the market. Binance has got your back with new and innovative ideas that come up each day when you’re a trading customer.
When using Binance, you have one of the lowest charges in any of the trading platforms in the market today. The trades are charged at 0.1%. When you use the native BNB token on the forum, you get a 50% discount.
2. 3Commas
You’re likely to get into more than one trading platform when you trade crypto. For the best results, it is also highly recommended. When you have at least three, for example, Binance and two others, you need a platform to connect them.
When they’re connected, it makes it easy to operate the three platforms. That’s where a trading terminal such as 3commas comes in handy. Here, it allows you to make decisions on three platforms simultaneously.
You also get a few other perks, such as trailing take-profit and trailing stop-loss. This enables you to maximize your earning potential, and this happens in real-time.
If you have ever heard of trading bots, then 3commas is one of them that can help you make the best out of every trade.
3. Shrimpy
If you’re looking to diversify your portfolio, you’ll need software that can help you do that easily. Here, you also get an automated system to support you make the best trades in cryptocurrencies.
The software works quite as simple as you’d expect any rebalance cycle to. According to your goal, Shrimpy can buy and sell crypto in each cycle. This is according to their performance – with regards to your goals.
You’ll need to set a goal first before there are any moves made here. But after the process is automated and you won’t have to keep on checking for changes. Integrate Shrimpy with your exchanges, and you’re good to go.
4. TradeSanta
Another trading bot that you can use in the crypto market is TradeSanta. This is the type of bot that will help you earn money while you sleep, which isn’t easy to do in the crypto market.
The best part about TradeSanta is that it is perfect for the newbies as the guides are pretty easy to get through. All you need to do as a new player is set your long and short positions first. It’s all systems go after you have set up – which is easy to do.
With the system being newbie-friendly, you can start trading with the lowest amount possible. Imagine beginning your crypto trading journey with as low as $50. And the bot is supported by some of the big players in the market, such as:
- Binance
- HitBTC
- Bitfinex
You also get video guides to help you through your trading positions.
5. Crypto Tax Calculator
In some countries, crypto is treated as property, so you’ll need to pay a task on the holding of any of it. At this point, you need to know how much in tax you owe as crypto is subject to capital gain tax.
You can easily make those calculations through a crypto tax calculator. For example, this will help you dispose of the asset [crypto], for-profit – you sell for a higher value than you acquired it for. To learn more on how to use the tax calculator when you’re in Australia to avoid tax penalties that may be imposed.
Trading crypto-like pro needs to be accompanied by the right tools. And there are plenty of them you can choose from. However, you need to ensure that each tool gives value for the fee you pay for use. These are a few that you can look to use today to help you level up.