Chainalysis released its crypto adoption report in September 2023. And this year’s Global Crypto Adoption Index showed that there’s been an increase in grassroots adoption of cryptocurrencies. This means that more regular people have shown interest in crypto.
Joining our industry can be fun. But it has its fair share of frustration. One of the primary sources of this frustration is the fragmentation of knowledge. The average newbie does not understand the crypto industry or what tools and resources they need to get by.
Source: Chainalysis
Crypto is still new despite being around for a little over a decade. This means that the industry is far from being structured. A lot of things are still being figured out or put in place.
But, before then, we’ve put together 10 resources that will help you go from “zero to hero” in your crypto journey. These resources will help you know where to get what you need and how to enjoy your experience.
I need your help guys. I got a question from one of my followers: "where to start when you're new to crypto?" See the message 👇
Tbh I don't have a clue, I started in 2013 and learned by doing.
Are there any great starter resources out there or hubs of info for crypto newbies? pic.twitter.com/apvAFNokKr
— Bitcoin Sage 🔴✦ | (3,3) | Delphi (@Bitcoin_Sage) January 4, 2021
With the bull run right around the corner, these tools are pretty important. Only those who are well prepared can take advantage of the coming bull run. So, let’s get to them.
News Resources
Information is key in crypto. Like the traditional finance market, there are certain platforms that provide news resources. You can never underestimate the power of events and how they affect the market. Here are two major news platforms:
@decryptmedia is the best crypto news platform till date and i daily use this app for updates /news about crypto in breif , but i dont understand why and how our data is getting leaked?, i am receiving daily spam mail of decrypt token claim etc [1/2]#decryptmedia pic.twitter.com/yfMYGL1jA1
— km619.bnb (99%) (@kunal_mandhare) October 5, 2023
Beincrypto: It provides analysis and informative news on regulation, blockchain technology, and crypto market events.
Decrypt Media: It works like a regular CNN or BBC. But this time, it is dedicated to explaining the crypto and Web3. Their stories have a bit more details and explanation than most platforms. Other notable news platforms are:
- Cointelegraph.
- Coindesk.
Market Data Aggregators
Market data aggregators are important in crypto. These platforms provide access to different brokers and crypto instruments on a single platform. In addition, these aggregators combine data from different decentralized exchanges (DEXs) and centralized exchanges (CEXs) using APIs, smart contracts, dApps, and oracles.
Here are two major aggregators:
Coingecko: It aggregates crypto prices and information. Coingecko comes in handy when you need to know the performance of a certain cryptocurrency.
What are the largest spot & futures #Bitcoin ETFs?
Our study shows that ProShares Bitcoin Strategy ETF (#BITO), which currently holds 35,890 $BTC, is the largest fund in this space.
Check out the full list ⬇️https://t.co/ytQQOpRGQL
— CoinGecko (@coingecko) October 5, 2023
DexCheck: The decentralized market is broad. However, DexCheck aggregates all the data you need on a single platform. This way, you can make informed decisions.
On-Chain analytics
Crypto investors now have access to a wide range of simple-to-use on-chain indicators and data sets, thanks to the emergence of on-chain analytic platforms. The insights and updates you receive from these tools should only serve as a guide, as they are not totally error-proof.
These platforms provide data that you can use to predict trends. They serve both expert traders and newbies.
In the past 7 days, 1Inch achieved $2.9B in volume traded. This is a 43% market share on Ethereum. Over the past days, 21% of all #Ethereum DEX volume came via aggregators.
Source: Dune Analytics. https://t.co/Nn41dOkT2f pic.twitter.com/CGSQZOKUjb
— David Rakusan (@DavidRakusan) November 12, 2021
Here are two of the best options:
CryptoQuant: It provides diverse on-chain insights for retail traders. CryptoQuant analyzes data like holder behavior, supply dynamics, and exchange reserves. These data provide key insight into decision-making.
Dune Analytics: It offers free access to good visualization tools and on-chain data. Anyone can leverage this platform to unlock insights and analyze crypto networks.
Social Analytics
Crypto social analysis tools are important. They analyze the sentiment and activity of a certain cryptocurrency or blockchain-related issue on social media platforms. They let you know the mood, opinions, and impressions about a specific project or token.
Let’s look at some examples.
📊 #Bitcoin had its most coins (over 10K $BTC) moving off exchanges since September 7th, and #crypto's top market cap asset is making a 2nd run at crossing a $28K market value. Utility will be important here, as unique addresses have fallen to 6-week lows. https://t.co/JoJv9YYJsA pic.twitter.com/3JELGuzJRG
— Santiment (@santimentfeed) October 8, 2023
Santiment Feed: Santiment tracks a lot of things. It provides data on whale activity on a token and even social media engagements. Santiment tracks project finance, developer activity, social media behavior, and on-chain activity.
TweetScout: Twitter is the social market for the crypto community. So, a project that performs well on Twitter is often a good sign. TweetScout tracks this performance. It provides data on a project’s performance and engagement on Twitter.
Wallet Explorers
Wallet explorers provide key insight into crypto. You can use these platforms to view the history of wallet addresses, including transactions. The nature of blockchain technology makes everything transparent. Anyone can see anything, including transactions. Here are two of the best explorers.
[ARKHAM INTELLIGENCE] A Bitcoin whale moved 5,000 $BTC (approximately $137 million) on October 7th after three years of inactivity. These 5,000 BTC were initially transferred from the Poolin mining pool on June 23, 2020 pic.twitter.com/KrCiQFUoDz
— BecauseBitcoin.com (@BecauseBitcoin) October 8, 2023
Arkham Intelligence: This project made waves for seeking to deanonymize blockchain. It allows anyone to scrutinize blockchain addresses, track both sides of a transaction, and perform other investigative tasks.
De.Fi: This is a super app that allows you to track your portfolio, among other things. It also provides a crypto antivirus scanner for security.
The ten tools listed here are a good place to improve your experience. These platforms are not the end goal. Instead, they are a means to an end. You need to leverage these tools to make better decisions and improve your industry knowledge.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
