Beginning your crypto journey is no doubt an exciting adventure. But the complexities involved could pose a hindrance. Figuring out what exchange to trade with and the right wallet to use are some of the easier parts of the journey.
But knowing how to track your portfolio, research opportunities, and stay on top of market trends is where you’ll need a helping hand. Thankfully, there are several tools that can help you maximize your crypto rewards and ensure you are always well-positioned. Here are some of the tools we recommend that you use:
1) Laevitas
Laevitas is a data aggregator platform that specializes in quantitative data analytics for cryptocurrency derivatives. The project seeks to provide its users with advanced trading insights and data about futures, options, and derivatives on custom dashboards. This tool comes in handy for developers who can use the Laevitas API to access historical data to analyze charts.
Some of the features Laevitas offers:
- Option chain analysis.
- Greeks analysis.
- Strategy builder.
- Historical data.
- Customizable dashboards.
These features provide users with comprehensive insights, which enable them to make informed decisions and develop good trading strategies.
2) Parsec Finance
If you need a hand getting around NFTs and DeFi, Parsec Finance is your best friend. It provides a good analytics service and a simple interface that you can easily play around with. Parsec Finance provides technical analysis for capital market assets.
This project has some good tools to access:
- Charts.
- Portfolio management.
- Risk assessment.
- Pricing options and derivatives.
- Monitoring and tracking of capital market assets.
- Content to help users get around difficulties.
In a nutshell, Parsec gives you unparalleled insight into on-chain data using customizable features and real-time data feeds.
3) Coinglass
CoinGlass is a crypto derivative data analysis platform. The focus is to help you access accurate and real-time crypto market data. You can use the analysis provided by this platform to make smart trading decisions, reduce risks, and maximize your gains.
Furthermore, CoinGlass provides market data, including:
- Price trends.
- Cryptocurrency futures trading volumes.
- Open interest.
- Funding rates.
- Liquidations.
- Options data.
4) Dexscreener
As the name implies, Dex Screener gathers data and information on decentralized exchanges (DEXes). It provides access to information from different blockchains. So, both beginners and old-timers will find this tool really helpful.
With DEX Screener, you can track your best DEX in real time. The DEX Screener lets you know the pros and cons of using a DEX. DEX Screener also gives you relevant TA to work with.
We have a detailed review of this project. You can get that here.
5) EigenPhi
Eigenphi is a DeFi analytical tool that provides valuable market insight to its users. The goal of the platform is to provide everyone with accurate insight into the DeFi market and help them make decisions. Using Eigenphi, users can analyze detailed data on blockchains such as Ethereum and the BNB Chain.
Eigenphi gives you data on trending tokens, liquidity pools, and malicious tokens. It also positions itself as a data platform that covers
- MEV.
- Sandwich Front Runs.
- Lending.
- Liquidation.
- Flash Loans.
Eigenphi gives you access to the analysis you need to optimize your strategies, identify risks, and improve designs.
In conclusion, the importance of these tools cannot be overemphasized. Using some of these tools will no doubt help you maximize your rewards. They’ll provide you with accurate data and analysis, which reduces your chances of errors and losses. Here is the second part.
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