When you think of cryptocurrencies, what’s the word that first pops into your mind? Uncertainty?
That might sound negative but it’s actually far from it. Uncertainty might be worrying for those looking for a steady ride but, for those of us looking to maximize our investment, uncertainty is the fuel which keeps our fires lit.
Interpreting the signals sent out by the market on a moment to moment basis is the key to smart trading but getting the most out of those markets is far from simple. Luckily, some smart folks have built tools which make trading and holding crypto a simple, painless and profitable experience.
In this guide, we’re going to share with you three of our favorite cryptocurrency tools based on our testing. Join us, won’t you?
Our favorite wallet: Exodus
If you’re buying any cryptocurrency, having a digital wallet where you can store your crypto is absolutely essential. These come in many forms, from those you download and can keep on a hard drive for a touch of the physical to web-based wallets which allow you to access your wallet from anywhere in the world at any time, provided you have an internet connection and your login credentials.
We favor offline wallets as they reduce your reliance on third-parties which can be hacked or taken down. Our favorite is Exodus – an all-in-one application which supports a huge range of cryptocurrencies, has tremendous security features and even lets you trade between various cryptocurrencies with live charts and trackers. Oh, it’s free too and it’s also available for Windows, Mac, and Linux.
Our favorite security software: Norton Security Deluxe
Security threats are no longer an abstract notion – especially when you’re dealing with valuable cryptocurrencies because, as long as you have something worth taking, people will want to take it. It’s why we always recommend investing in good quality security software.
We’ve tested dozens of pieces of security software and compared our findings with some of the leading review sites, the final conclusion was the same: Norton Security Deluxe. A robust, all-in-one application which utilizes advanced behavior-based technologies to detect 99% of unknown threats. In its ‘Deluxe’ guise, it also comes with cross-platform security features, making it ideal for crypto trading.
Our favorite analysis tool: TradingView
It’s fair to say that social media hasn’t improved everything about our lives but, when it comes to trading, it’s led to some fascinating software.
When it comes to analyzing markets and traders, we’re fans of TradingView. The charts it offers are right up there with professional-tier products and the social aspect of it means you can view traders’ histories and even follow them to study what it is they’re doing right (or wrong!)
It’s a massively powerful tool and it offers a free tier, with 30-day trails for their Pro, Pro+ and Premium tiers.
Our favorite trading tool: Coinigy
When it comes to trading, the most basic requirement for a tool is connections to the major cryptocurrency exchanges. Surprisingly though, that’s often hard to find. That’s why we favor Coinigy.
Connecting to over 45 of the most popular exchanges and supporting users on both desktop and mobile, it offers amazingly powerful execution tools, making it essential for serious traders.
Unlike the other tools on this list though, Coinigy doesn’t come free. Whilst there is a free 30-day trial which includes almost everything you can expect to find in the paid tiers, you’ll either be looking at either the ‘Pro Trader’ or ‘API Developer Pro’ tiers, which cost $18.99/m and $99/m (when purchased annually) respectively. For the vast majority of traders, the Pro Trader tier is ideal but, if you need enterprise API access, the higher tier is where you need to head.
Subscribe to AMBCrypto’s Newsletter
Is Grupo XP signaling a greater digital currency adaption?
Brazil’s largest brokerage, Grupo XP, made headlines last year when it became the first major exchange to open itself up to the trading of Bitcoin and Ethereum. As a development long anticipated, this involvement of cryptocurrency on the highest stage signaled a level of acceptance and mainstream viability which many crypto followers have been predicting for years.
As the two biggest names in the cryptocurrency market, Bitcoin and Ethereum are acting as vanguards in this respect. This has not only raised the public profile of the two currencies, but it has also driven significant additional interest to crypto and digital currencies as a whole.
As Brazil stands as one of the progressive and forward-thinking markets when it comes to financing, this raises questions as to the role which digital payments might play in an increasingly technological world. Can we ever expect it to take the place of traditional cash?
To answer this question we need to look at just how far digital currencies have come in the short time they have existed. Nowhere is this growth more evident than with PayPal, perhaps the most well-known digital money system on the planet.Originally founded back in December of 1998, PayPal was not the first in the business, but it offered a level of user-friendliness and convenience which set it above all of its contemporaries. Pushed by such well-known names as Peter Thiel and Elon Musk, PayPal proved itself in how well it integrated into many major online retailers. The most famous of these was the most powerful online auction house in the world, eBay, which later acquired PayPal in 2002 for $1.5 billion.
Since then, PayPal continued its path to victory by offering high-quality security and international connectivity, and through the acquisition of related companies such as Fraud Sciences, Braintree, and Hyperwallet.
Now with 254 million users, PayPal’s success has shown that there is room for competitors, which helped shine a light on the road which competing forms of currency, and newer digital systems like crypto, would follow.
While PayPal prides itself as a jack-of-all-trades, others preferred to follow their own path. Idebit, for example, instead focuses on offering services dedicated to users in Canada. Some of the more popular services offering idebit include online casinos like Guts and Rizk. As these are bound by similar regional limitations, it makes sense that they would operate in cooperation, as this has proven the best way to legally offer the best bonuses and deals.Our focus of crypto, on the other hand, places its most significant emphasis on the anonymity of its transactions. This is not something which is offered by the likes of PayPal, which instead attempts to act as an online replacement for traditional finance systems, rather than an alternative to.
With dedicated markets for crypto and other forms of digital currency now offering goods and services on a level which challenges traditional fiat currencies, the fact that the old-fashioned will increasingly be usurped is nothing short of inevitable.
While the inherent power and connectivity-reliant nature of these mean that they will never entirely replace the coin or note, the decrease of worldwide emphasis on these older systems is already happening, and will only grow more pronounced in the future.
Subscribe to AMBCrypto’s Newsletter