Top 5 Tools Every Crypto Investor Should Use for Research
The top 5 tools every crypto investor should use for research before putting their money behind a project
Do your research or DYOR is a concept that is probably familiar to anyone who has spent even a short time in the cryptocurrency market. It has gained popularity in the cryptocurrency community and emphasizes the need for investors to do their research before backing a project with money. Given that the cryptocurrency sector is still in its infancy and that finding publicly available market data, research and guidance can be challenging, this is easier said than done. For this reason, we have put together a handy list of resources that every investor can use for their cryptocurrency study.
1. Market trackers
The first and possibly most crucial tool for cryptocurrency traders and investors is a market tracker. They offer real-time price updates, trading volume statistics, historical performance data and many other useful details. They offer a reliable snapshot of the current state of the market and a solid framework for studying cryptocurrency. These sites also allow you to compare coins in other categories.
2. Data aggregators
Market trackers provide a solid picture of the market, but data aggregators such as TradingView, Glassnode and Coin Metrics are necessary to take a closer look at a project. These sites offer in-depth analysis of the various cryptocurrencies and can provide you with useful information about how they will perform in the future.
3. Forum
You can connect with other traders and investors on forums. Every notable cryptocurrency project usually includes a Reddit page or a Discord server where investors and enthusiasts can discuss it. You can ask questions about the project and get quick answers from local people.
4. Crypto guides and news sites
Cryptographic data can be complicated to understand. In addition, it can be challenging to understand the many technical signs if you do not understand what they mean. Cryptocurrency news sites and guides play a role in this. Trusted platforms in this regard include CoinTelegraph, Decrypt, Binance Academy, ByBit Learn, Alexandria by CoinMarketCap, etc.
5. Podcasts
By listening to podcasts, you can learn a lot about the cryptocurrency industry. They give you the chance to learn from industry experts about many facets of a cryptocurrency project and the market as a whole. They also offer a thorough awareness of current issues and their long-term effects.
