Cryptocurrency trading has come a long way ever since online trading firms such as brokers and exchanges were introduced. Traders need to carefully choose the firm that they will use to access the crypto markets. These trading platforms are equipped with amazing trading tools that help traders improve the quality of their investments. The trading tools help traders understand what’s going on in the crypto market at the moment and what they should be basing their investment decagons on. If you have signed up with a firm that offers trading tools then make sure that you use them.
Shay Benhamou says that people must use trading tools to make sure that their investments are successful. You cannot go into an asset market as volatile as the cryptocurrencies and expect to make profits without the appropriate tools. To make it easier for traders to decide which tools they should use if they have many options, Shay Benhamou has created a list of must-have tools for crypto investors.
Trading Tools for Cryptocurrency Investments
OpenOcean
OpenOcean is a one-stop platform for cryptocurrency traders. It provides information on all types of cryptocurrencies whether centralized or decentralized. It is a single entry point that allows traders to access liquidity pools and find the best prices for the asset that they are interested in. OpenOcean shows the prices that competitor trading firms are offering for a particular asset ad from there traders can find out which firm would be better for purchasing. The online tool is available for free for individuals who want to find information. However, companies and intuitions need to pay for interfaces that will be designed especially to fir their strategies.
StackedInvest
This is a great tool for new traders or anyone who is looking to diversify their trade portfolio. The company offers strategies and portfolios to their clients which they can use for investments. The legal work of the trading strategies is handled by the hedge fund managers employed by StackedInvest. This service is also linked with a majority of the leading platforms which means that you can access it directly from the platform or open a new account on StackedInvest.
Atani
Atani is a great tool for anyone who is sick and tired of the long and complex KYC (Know Your Customer) processes. The KYC is a step that is necessary for your protection but it is time-consuming and annoying. With Atani, you can free yourself of ever having to fill in the KYC forms every time you want to log in to your account or perform any major tasks. Atani allows traders to log in to over 20 leading exchange platforms with a single log-in. You can access your account on the leasing trading exchanges just by registering once with Atani. Shay Benhamou says that many crypto traders are more frustrated by the KYC steps that they are presented with at every step than they are with the actual aspect of trading.
CryptoTaxCalculator
Cryptocurrency taxing can be a complicated issue, especially when you don’t know that you are supposed to be paying it in the first place. Great inventions come with need and this was the story behind the development of CryptoTaxCalculator. This tool helps cryptocurrency investors calculate their tax liabilities that come from transactions of digital currency. This company supports over 100 exchanges and is currently adding more to its list. This means that if you are using a platform that is listed under CryptoTaxCalculator, your data will be automatically added to the system to provide you with the tax amount that you need to pay.
Conclusion
Traders need to be able to tell what is going on in the cryptocurrency market if they want to stay at the top of their game. This cannot be achieved by simply following the news articles that get published about cryptocurrencies. Traders need to be able to see the state of the market in real-time to make smart investment decisions. Whether your broker or exchange offers trading tools or not, you should make sure to use either these or any similar tools to make the best investment decisions. Shay Benhamou says that investments made without the use of proper tools are nothing more than a waste of money.
