5 Authentic Sources for Recognizing Cryptocurrencies

Introduction

With the growing popularity of cryptocurrencies and the desire of a wide range of people to invest in this field, new tools, sites, and resources are being created to help these people. In the meantime, some of these resources have been able to make a name for themselves over the years and provide services to thousands of people around the world. Mohammad Hosseini, a trader and analyst of financial markets says:

“Anyone who wants to succeed in this field, in addition to following the price of these currencies, must also pay attention to other indicators. Indicators behind each of which lies very valuable information and by knowing them better, our capital can be multiplied.”

For this reason, in this article, we will introduce some of these sources, each of which can become one of your main sources for learning more about the world of cryptocurrencies. Surely, using these resources will soon have an impact on your trading.

Getting cryptocurrency statistics from Coin Market Cap

Coin Market Cap is one of the most popular cryptocurrency statistics sites that supports almost all tokens and coins.

Before entering into trading a cryptocurrency, it is best to know information such as the amount of working capital, trading volume, market value, and maximum supply of that currency. Coin Market Cap provides you with this information as easily as possible. Just visit this site to get a list of supported cryptocurrencies. If you are looking for a specific currency, you can search for it and go to its special page to get complete information about it.

In addition to cryptocurrency statistics, you can also see cryptocurrency exchange statistics at Coin Market Cup. Another advantage of using this site is having access to all the links related to each currency that are collected in their special pages.

Other sites that offer services similar to Coin Market Cap include Coin Gecko and Messari.

Illustration of statistics with Coin360

Coin360 can also be ranked among the sites that provide cryptocurrency statistics. However, what has made the Coin360 popular with users of the cryptocurrency world is its special attention to the visualization of these figures.

By entering the first page of this site, we are faced with a thermal map of the entire cryptocurrency market. In this map, each cryptocurrency is divided into its own blocks, each of which has a specific color. In other words, any cryptocurrency that has an upward trend and a price increase, the corresponding block will turn green and any currency that has a downward trend will turn red. Currencies that have not changed also remain gray.

In addition to this illustration, which is the main activity of Coin360, important news in this field are also subtitled from related sites, and you can have a glimpse of recent important news while monitoring the market.

Professional charts with TradingView

The chart of price changes of each currency is one of the most important resources that every investor needs. All cryptocurrency exchanges offer such charts, but sometimes they do not have the features you expect from them.

Fortunately, TradingView which is one of the largest providers of live charts for cryptocurrencies and other financial markets, will meet all your needs. As you probably know, the secret of a good deal and making a profit is the ability to read price charts, especially candlestick charts. This reading is made possible by technical analysis and its indicators, which TradingView incorporates all these indicators. All you have to do is to look at the cryptocurrency chart you want and choose one of your trusted indicators.

TradingView has a lot of different sections that are added day by day. One of these sections that can be of great help to you is the Ideas section, where other users share their analysis with others. There is even a section for live trading where you can view and take notes of professional users’ trades live.

Latest news on cryptocurrencies at Cointelegraph and CoinDesk 

The other secret of profitable investment in cryptocurrencies, in addition to following charts and statistics and technical analysis, is to pay attention to fundamental analysis or positive and negative news published about each cryptocurrency.

Unlike other financial markets, the cryptocurrency market is open 24 hours a day, 7 days a week. For this reason, paying attention to the news and events that have taken place in this area is doubly important. Traders who buy and sell cryptocurrencies throughout the day are well aware of how early it can be to benefit from the positive news of a cryptocurrency.

Currently, there are various sites in the field of providing up-to-date news and news of cryptocurrencies. “Cointelegraph” and “CoinDesk” can be considered as two of the best and most reputable ones. In addition to providing fundamental news, these two sites provide daily and technical analysis, which can be very useful.

Blockchain Explorers

Blockchain probes and the tools available to analyze them can provide information that few people care about.

A blockchain explorer is an Internet site that displays raw data and transactions performed on that blockchain. Information such as transaction amount, time of execution, miners, hash rate, etc. can all be discovered in this way. Blockchain analysis tools also captures this raw data and provides you with market analysis and trends.

The point to note is that each blockchain has its own probe. For this reason, if you want to access the Bitcoin blockchain raw data, you have to go to sites like blockchain.com or btc.com, and if you want to explore the Ethereum blockchain, there are etherscan.io and etherchain.org sites for that.

Concluding remarks

Using such tools and resources has long been one of the ways to succeed in investing. Due to the nature of cryptocurrencies, these tools and resources in this area are so diverse and numerous that choosing the most appropriate ones can be misleading.

In this article, we have tried to discuss 5 best and most reliable sources for better understanding of cryptocurrencies so that you can use them to become more profitable. As we have said, the number of these resources is very large, and of course there are other useful sites and tools that we did not have the opportunity to mention in this article. However, with a little research and ongoing activity in this area, you will gradually become more familiar with the tools that will make trading and investing easier for you.

Author Name: Mohammad Hosseini

Mohammad Hosseini, a trader and financial markets analyst. An expert in teaching individuals creating second job to earn money from anywhere in the world.
hoseinifinance.com

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