The Cryptocurrency Research Tools Everyone Should Use
Trading cryptocurrency is complicated. Everything from learning about wallets to investigating cryptocurrency exchanges presents foreign concepts that take time to understand.
The purpose of this article will not be to cover everything you will need to know about cryptocurrency, but to provide resources that can help you better understand the market. Over 5,000 cryptocurrencies have been launched since 2009 when Bitcoin first came to life, so researching each and every asset is nearly impossible. However, with the tools we discuss throughout the remainder of this article, you will have a strong foundation for ways to gather information and make informed decisions.
Our team will be putting together additional articles that will focus on other important topics. The last topic we covered discussed how to decide what assets to put in your portfolio. Combined, these two articles provide a strong foundation for market analysis and research. Go check out that article here!
Crypto Trading 101: Portfolio Asset Selection
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1. CoinMarketCap
CoinMarketCap has been the starting point for investors beginning their journey into the crypto market since 2013. As the most popular website in all of crypto, many investors use CoinMarketCap as an easy way to investigate new assets and gather information about the market.
Some of the noteworthy features of CoinMarketCap include the asset ranking by market cap, historical price graphs, asset supply metrics, trading volume across different exchanges for each trading pair, and the listed market pairs for each exchange.
With over 5,000 different cryptocurrencies being tracked by CoinMarketCap, it has become the most reliable resource for starting a new crypto research project.
2. CoinStats
After taking the plunge into cryptocurrency, many investors will want to stay on top of the latest news regarding the assets in their portfolio. In the crypto market, there is no better resource than the CoinStats mobile application.
The CoinStats team has developed the most streamlined way for investors to receive up-to-date news from crypto development teams. Not only that, but you can also track your entire portfolio in real-time across every major exchange. CoinStats is the perfect resource for investigating new assets, managing your portfolio, and monitoring the market.
Inside the CoinStats application, investors can keep up with the latest news from each cryptocurrency team, receive alarms when the market changes rapidly, or read trending articles.
3. Crypto Twitter
When it comes to community, Twitter exemplifies the best and worst of the cryptocurrency market.
Many of the most influential players in the crypto space have a presence on Twitter. You can find expert researchers, traders, and reputable investors. By following key individuals, you can quickly gather the knowledge you need to make important decisions.
On the other hand, like many social media platforms in the 21st century, the abundance of information can be a double-edged sword.
Along with the powerful voices in crypto, there are also thousands of scammers, bots, and shills who have no remorse when it comes to sharing misinformation. Without carefully filtering your timeline and thinking critically about the messages you are reading, it’s easy to fall into mental traps that aren’t beneficial in the long-run.
While Twitter is an incredible resource for crypto investors, it should be used in conjunction with other resources to verify the information and validate opinions.
Get involved with Crypto Twitter.
4. Messari
As we evolve as traders, there may come a time when the high-level stats that are provided by services like CoinMarketCap are no longer enough to give us the detailed view of the market that we want.
When this time comes, we can turn towards professional research tools like Messari. Although these professional tools are not for everyone, Messari provides a deeper look into the market through an aggressive focus on data.
From the first moment we land on the Messari Screener, we can already notice the emphasis that the Messari team places on data analysis. This page not only ranks assets by market cap, but also provides a long list of other filters and options for data. Many advanced investors will find this customizable data access to be a dream come true.
Customize your data with Messari.
5. The Crypto Block
Shifting gears from data for a moment, a growing resource in the crypto community has been “The Block”. This professional team of researchers and analysts is bringing a new outlet for breaking news in the crypto space.
Although they have been shrouded in controversy from time to time, few other teams can compare in the way they aggressively pursue the truth and strive to be on top of every interesting story.
Anyone who is looking for deep insights into the crypto market or access to breaking news should consider “The Block”. Their connections to different crypto teams run throughout the market and they consistently produce quality content.
6. Nomics
Although Nomics has historically been less focused on market research than other data providers like Messari, we’ve recently noticed that Nomics has increasingly become involved with providing asset-specific data and high-level market overviews.
Similar to CoinMarketCap, you can find detailed market data for each asset on Nomics. Besides asset data, investors can get a deeper understanding of the most popular crypto exchanges by exploring the exchange rankings page.
Although Nomics wouldn’t be an ideal resource for new investors, it may be an option for institutions or enterprise customers that are looking for deep insights into the market.
7. Binance Research
At this point, anyone who has been in the crypto market for more than a few months has likely heard of Binance. They are regarded as one of the largest cryptocurrency exchanges in the world and offer a wide range of products.
One of the resources they provide for investors is the Binance Research website. This website is dedicated to providing educational information about the cryptocurrency market and digital assets.
The long-form content that is provided through the Binance Research team is a great resource for any new investor who is looking to get a deeper understanding of how the market works.
Not only can you explore comprehensive discussions on market topics, but you can also find resources on different ways to engage in the market through spot trading, margin trading, futures trading, loans, and more. Overall, we highly recommend the Binance Research website.
Analyze the market with Binance Research.
8. CoinDesk
CoinDesk is one of the largest research, news, and educational platforms available in the cryptocurrency market. Founded in May 2013, it is also one of the oldest crypto news organizations still operating today.
Since its inception, CoinDesk has systematically expanded the scope of its product offerings to include more than just news. In recent efforts, CoinDesk has expanded into research and educational topics. These resources provide investors with creative new ways to engage with cryptocurrency content.
At the end of the day, we often find that CoinDesk is hit or miss when it comes to their research and articles. Their content pieces are not always as breaking or critical as The Block, but we still see CoinDesk as an important player in the market for the long-term.
Read more about the CoinDesk Research.
9. Crypto Compare
Similar in many ways to Nomics or CoinMarketCap, CryptoCompare provides another resource for accessing the latest market information. However, there are some important distinctions that make CryptoCompare an attractive platform for investors.
Most specifically, CryptoCompare provides a “Research” section on their website. This resource provides in-depth studies and reviews of exchanges. These reviews can be integral to an investor’s decision-making process.
Beyond the research content provided by CryptoCompare, they also support a simple news aggregator that can be a good option for investors who don’t want to jump between websites to find the latest crypto news.
CryptoCompare is not a website for everyone, but we recommend at least giving it a try. See if the information and resources they provide fit into your investment flows. If not, there are other great resources that can fill the gaps that aren’t provided by CryptoCompare.
10. Bitcoin Talk
Bitcoin Talk is the legendary forums created by Satoshi Nakamoto. Since 2009, Bitcoin Talk has remained one of the largest communities of Bitcoin advocates. On any given day, you can find the latest Bitcoin announcements, altcoin discussions, and new product releases.
It is one of the best resources for someone who is willing to dig deep and get their hands dirty. As with any forums, it’s not always easy to get the information that is most relevant to yourself. You will need to do some digging to find high-quality posts.
Since Bitcoin Talk is flooded with content that is not always high quality or relevant to an individual, it’s hard to recommend Bitcoin Talk as a place for investors to start their research process. It may be better to take it slow and start by reading some of the more clear and organized resources that can structure your learning in a meaningful way.
Bitcoin Talk is easily the best forums in the cryptocurrency community, but it’s not without flaws.
Start getting involved with Bitcoin Talk.
Final Thoughts
As a new investor in the crypto market, there is a lot to learn. Take your time to read high-quality content across multiple different websites and applications. Getting acquainted with the space will take time, so don’t rush the process.
Each of the resources discussed throughout this article has a different value proposition. Leverage each service to make important decisions when getting into crypto investing for the first time.
Once you’ve taken the plunge and bought your first cryptocurrency, don’t forget to use Shrimpy to manage your portfolio.
Additional Good Reads
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Python Scripts for Crypto Trading Bots
Script for Bitcoin Price Live Ticker (Using Websockets)
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