10 Free Crypto Tools You Can Use

For those of you who followed our beginner’s guide to crypto, you should be feeling pretty confident by now. We’ve gone through all the basics – from how blockchain technology works, to the different types of cryptocurrencies, stablecoins, NFTs and DeFi.

In collaboration with Luno, we also emphasized the importance of doing research the right way so that you can always be equipped to make informed decisions. While this space offers many opportunities, there are also many risks and misinformation out there. Fraudulent projects and scams have become common in the crypto space and learning how to spot red flags is essential.

At this point, you’ve probably realized that investing in crypto can be a time-consuming process – even more so than in traditional finance, which is heavily regulated – and the responsibility to protect your assets rests primarily with yourself.

In the final edition of our series, we’ll look at 10 free tools that can help make life easier and guide you along this ever-changing world of crypto. It covers a wide range of uses, including charting, price analysis and portfolio tracking.

Price tracking and portfolio management

When you decide to buy a crypto coin, you need to check the price it is trading at and find a good entry point. CoinMarketCap and CoinGecko are two of the most commonly used sites for this purpose. The former tracks more than 20,000 different coins, while the latter tracks about 12,000. Both sites list new coins on a daily basis.

Pricing information is accessible for free to all users without logging in. It is possible to look at the historical prices of coins, often dating back years or when the coin was first introduced.

Along with this, both websites also report statistics such as the highest and lowest price a coin has traded for in a given period. This can be useful in determining the general sentiment surrounding a coin you want to invest in.

By creating a free account on either site, users can also access their respective portfolio trackers. It allows you to manually enter the coins you have invested in – the quantity and price of purchase – and track their value over time.

For those who also invest in stock markets, Delta is an all-in-one portfolio tracker to consider using. The app allows you to track your investments on the go – crypto, NFTs and stocks – using the same interface. Delta is free to download on Google Play and the App Store, and is only available for use on phones and tablets.

Analysis

One step beyond price tracking is analytics. This involves using the wide variety of information available on the blockchain – price movements, number of active wallets, transaction fees – to give you a sense of future performance.

Most crypto analytics platforms only offer real-time data analytics as part of their paid subscription plans. However, they may also have free plans that usually provide sufficient insights for retail investors.

Glassnode is a beginner-friendly platform that offers free access to fundamental metrics such as market capitalization, transaction rate, and transfer volume. There are descriptions explaining the purpose of each metric, and users can also compare different metrics on the same chart.

Using quantitative data is an important part of researching a cryptocurrency, as it can help provide an objective view.

For example, if you see someone praising a crypto-coin’s potential on Twitter, it’s hard to tell if their insights are legitimate or if they’re simply promoting the projects because they’re invested in them and want to build hype.

The latter is a popular form of crypto promotion known as shilling. Communities try to draw attention to their project on social media, using information that is not always true or positioned to optimize clicks, also known as clickbait.

People can even use fake accounts to make it look like a project has more followers than it actually does. Through data analysis, you can check the number of wallets that contain the said project’s cryptocurrency and make a judgment for yourself. This can help prove whether the community is legitimate or not.

Santiment is another popular analytics tool that offers a free plan. Users can create their own personalized watch lists and access two years of historical data, albeit with a 30-day delay.

Mapping

If you are looking for your own technical analysis, TradingView is the ideal platform to read charts, draw indicators and test strategies. The platform has long been popular with stock traders and over the years has also introduced cryptocurrencies.

TradingView offers free access to a wide range of indicators, although users will have to look elsewhere to learn how to make sense of them. Those who are already familiar can get started right away and start planning their investment strategy.

The platform enables the community to create and share their own scripts. These are lines of code that can interpret price information and be useful in identifying future trends. Using these scripts, users are free to test their theories about market movements and determine how well their strategies would perform based on historical data.

Education

While this beginner’s guide gives you everything you need to get started with crypto, there will always be a need to continue to build your knowledge and learn about new trends, and even read back as things get a little fuzzy. The crypto space is constantly changing and to ensure you are making the right investments it is important to stay up to date.

Luno takes crypto education to the next level with Luno Discover. It offers daily crypto updates, weekly recaps, development news, as well as a variety of guided content for both novice and advanced crypto enthusiasts. The content is written to be easily digestible and jargon-free.

If you like to read on the go, Luno Discover is also available in the Luno app which is free to download. Even if you only have a minute to spare, there’s a lot Luno Discover can teach you in that time.

For smaller doses of crypto knowledge on the go, it’s also worth subscribing to Luno’s Telegram channel and following them at @luno_sg on Instagram. It’s a way to keep up with all the headlines of the day and if any of them catch your eye, there’s always a link to read on and learn more. Challenge what you’ve learned with their weekly pop quiz – if you get it wrong, don’t worry because explainers are always available.

NFT trackers

Finally, for those looking to invest in NFTs, knowing historical floor prices – the lowest price at which an NFT from a collection has been listed for sale – can be helpful in making a buying decision. It also helps to know how many sales a collection sees per day. This can inform you about the demand for a particular NFT collection.

Different blockchains tend to have their own applications for tracking NFT prices. NFT Price Floor and Solsniper are two popular trackers for the Ethereum and Solana blockchains respectively.

Since NFTs can be listed on different markets, these trackers can help ensure you get the best deal.

For example, the floor price for an NFT collection may be 20SOL on the Magic Eden market, but 18SOL on OpenSea. Solsniper can save you the trouble of checking each market individually and instead let you know the lowest price you can buy an NFT for.

Solsniper has built TradingView’s charting tools into its website, which allows users to perform technical analysis of NFT price movements as well. The site also tracks the unique holders of each NFT collection, and the number of NFTs held by the top 50 holders.

If the supply of an NFT collection is concentrated among a few holders, there is always the risk that they may dump their holdings and cause the price to fluctuate significantly. This is an important data point to consider when looking at NFTs. Just like with crypto, quantitative data can help you make better investment decisions here too.

With that said, we have come to the end of our beginner’s guide to crypto. You should now have everything you need to take your first steps into this exciting realm.

This guide was created as part of Luno’s ongoing mission to encourage responsible crypto participation. In this ever-growing space, it’s important to make education a priority and ensure that users – both new and experienced – are well-informed about making the right investment decisions. If you feel the need for a refresher, revisit the other parts of the guide linked below.

This article is part of a six-part series on a beginner’s guide to crypto without the hype. You can check the other articles here:

– Part 1: Blockchain and cryptocurrencies – Part 2: Types of coins and their risks – Part 3: NFTs, DeFi and metaverse – Part 4: Stablecoins – Part 5: How to ‘DYOR’

This article was written in collaboration with Luno.

This partnership between Vulcan Post and Luno is for educational purposes only. Luno Singapore has received in-principle approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Cryptocurrency is a high-risk investment. The value of cryptocurrency can fluctuate significantly and you can lose the capital you invest. Before investing, we encourage you to educate yourself about cryptocurrencies and familiarize yourself with the risks involved, which are detailed in Luno’s Risk Warning.

Featured image credit: CoinGecko / Luno / Delta / Art Haus