Cryptocurrencies have been around for more than a decade now, but they have only recently begun to gain widespread adoption. While the underlying technology is complex, using cryptocurrencies does not have to be difficult. In fact, there are a number of tools that can make it easy for even first-time users to get started.
In this article, we will take a look at some of the most important cryptocurrency tools and what they can do for you. By the end of this blog post, you should have a good understanding of what each tool does and how it can help you in your cryptocurrency journey.
5 Cryptocurrency Tools You Should Be Aware of
1. Coinbase Wallet
Coinbase wallet is a digital wallet that allows you to store, send, and receive cryptocurrencies. You can think of it like a Paypal or Venmo for crypto. Coinbase wallet is one of the most popular wallets in the world, with over 81 million wallet users in 2022.
Coinbase wallet affects the cryptocurrency world in a few different ways. First, it makes it easier for people to get involved in crypto.
Previously, if you wanted to own Bitcoin or Ethereum, you had to go through a complicated process of setting up a wallet and buying cryptocurrency on an exchange. Now, with Coinbase wallet, you can do all of that within minutes.
Second, Coinbase wallet allows people to easily send and receive crypto. This makes it great for businesses that want to accept cryptocurrency payments or for individuals who want to send money to friends and family members.
Lastly, it is secure and reliable. When you store your cryptocurrencies in Coinbase wallet, you can rest assured that your funds are safe and sound.
2. Blockfolio
At its core, Blockfolio is a digital ledger that allows users to track the prices of their favorite digital currencies, set price alerts, and get news and insights about the cryptocurrency world. It’s available for both iOS and Android devices, and it’s completely free to use.
One of the best things about Blockfolio is that it supports more than 5,000 different cryptocurrencies. Whether you’re into Bitcoin, Ethereum, Litecoin, or any other altcoin, chances are Blockfolio has you covered.
The app also offers detailed charting tools that allow you to see how each currency has performed over time. You can even see how your own portfolio has performed since you first began investing in crypto.
Another great thing about Blockfolio is that it gives users the ability to set price alerts. So if you’re watching a particular currency and you want to know as soon as it reaches a certain price point, all you have to do is set up an alert and Blockfolio will notify you when that price is reached. No more checking prices obsessively!
Blockfolio also offers some unique news and insights features that can help you stay up-to-date on all the latest happenings in the world of cryptocurrency.
For example, the app has a “Signal” feature that allows users to receive real-time updates from certain cryptocurrency projects directly within the app. This can be incredibly useful if you’re trying to keep track of an ICO or other project that you’re interested in investing in.
3. Delta
Delta is a digital currency tracker that allows users to see the real-time prices of their favorite coins and tokens. It also provides users with data analytics tools to help them make informed investment decisions. Essentially, Delta is a one-stop shop for anyone interested in the cryptocurrency market.
One of the unique features of Delta is its “Smart Feed.” The Smart Feed scours the internet for news stories and social media posts related to the coins in your portfolio. This ensures that you’re always up-to-date on the latest developments affecting your investments.
Another useful feature of Delta is its price alerts. Price alerts let you know when a coin reaches a certain price point so that you can buy or sell at the perfect time. This is especially useful for traders who are always trying to get the best price for their trades.
4. MetaMask
MetaMask is a browser extension that allows you to run Ethereum decentralized applications (dapps) right in your browser without running a full Ethereum node. In other words, it makes it easy for you to interact with dapps on the Ethereum network.
Think of it like this: if a dapp were a website, then MetaMask would be your internet browser. Just like how you need a browser to access a website, you need MetaMask to interact with a dapp. MetaMask also gives you the ability to create and manage your own ETH wallets. With MetaMask, you can store all of your ERC-20 tokens in one place.
By providing an easy way for users to interact with Ethereum, MetaMask is helping to make cryptocurrencies more accessible to the average person. This is important because the more people who use cryptocurrencies, the more mainstream they become. And as cryptocurrencies become more mainstream, their popularity will continue to grow.
In addition to making cryptocurrencies more accessible, MetaMask also helps to improve their security. When you use MetaMask, your private keys are stored locally on your computer instead of on a centralized server. This means that if MetaMask were ever hacked, your private keys would not be at risk.
5. CoinMarketCal
CoinMarketCal is a website that tracks events related to cryptocurrencies. These events can be things like forks, airdrops, conferences, etc. By tracking these events, users of the site can stay up-to-date on what’s happening in the cryptocurrency world. This is valuable information for both investors and traders alike.
The website doesn’t just track events, it also has a predictions feature. This allows users to submit predictions for future events. For example, if there’s a conference coming up, someone might predict that the event will cause the price of Bitcoin to go up. If enough people make the same prediction, it will be displayed on the website.
This feature is useful because it allows people to share their opinions on upcoming events. It also creates a community of like-minded individuals who are interested in cryptocurrencies.
Takeaway
Cryptocurrency tools are important because they provide users with the ability to manage their assets and transactions, keep track of prices, mine for new units, provide security, and offer customer support.
These benefits can be helpful in making decisions about when to buy or sell, what currencies to invest in, and how to securely store your funds. By using cryptocurrency tools, you can take advantage of all that this growing industry has to offer.
