Blog | Cryptocurrency

11 of the Best Crypto Research Tools (And How to Use Them)

Every good investment first requires good research

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  • Learn how to properly research cryptocurrencies

  • Understand the best tools and how they’re used

  • Make estimates and do portfolio management

We are constantly told to conduct our own research, but often it’s without any guidance or instruction on how to do so. To be honest, there is no definitive process or guide for conducting cryptocurrency research, and it requires both time and trial-and-error to become proficient at it. Even those considered experts in the field of researching tokens still face challenges due to the ever-evolving and wildly unpredictable nature of the market space.

If you’re curious about how to find tokens and research them, then pull up a seat and keep on reading.

  1. CoinGecko & CoinMarketCap (Token Research)

    First, you’ll need to know what token you want to research and the best way to start is by using a site like CoinGecko or CoinMarketCap.

    I grouped these two websites together because one is for researching and the other is for verifying information. If you already have a specific token in mind and want to learn more about it, CoinGecko is a great resource to use.

    It delivers an overview of the token's key metrics, including price history, market capitalization, trading volume, and much more. Just make sure to double-check the market cap information by using CoinMarketCap.

    When researching a token, here are some important factors to keep in mind:

    • Price History: Take a close look at how the token has been performing over different timeframes, particularly on a weekly and monthly basis.

    • Current Price:Check the token's current price and see how it compares to past prices. Look for patterns of higher highs and higher lows for an uptrend, meaning the price could keep going up. If you notice lower lows and lower highs, it's a downtrend and the price may continue to drop.

    • Market Cap: Market cap is a big deal in crypto. It's basically the total value of a coin, calculated by multiplying its current price by how much is in circulation. Example: Market Cap = Current Price x Circulating Supply.



  2. Trading View (Technical Analysis)

    Trading View is an incredibly powerful platform for checking out the technical analysis of different financial markets, like cryptocurrencies. You can dive into price charts, use cool technical indicators, and even share your trading ideas with a bunch of other traders in the community.

    Just like on the previous tool, all you’re looking for are patterns of uptrend or down. Don’t overcomplicate it unless you want to become a professional crypto trader.


  3. Staking Rewards (Staking Information)

    This is my favorite crypto research tool. Staking Rewards gives you all the info you need on staking crypto, including calculators to determine how much you’d earn off that token monthly and annually.

    Before I purchase a token, I check and see if it’s possible to stake it. Staking tokens is a great way to get more value out of them if you plan to hold them long-term. Check out different rewards, and providers, and make estimates. This tool is a must-have.


  4. CBBI (Crypto Bull/Bear Index)

    CBBI, or Crypto Bull/Bear Index, is a tool designed to help figure out the overall sentiment of the cryptocurrency market. It provides insights into whether the market is bullish or bearish. It’s very similar to thefear and greed indicator, but with much more information.


  5. Dex Screener (Decentralized Exchange Analysis)

    Dex Screener is your go-to for decentralized exchanges (DEX) for analyzing DeFi tokens and their trading pairs. With its user-friendly tools and metrics, you can easily evaluate liquidity, trading volumes, and price movements across different DEXs and blockchains.

    If you find a token on CoinGecko, you can look it up on Dex Screener to see how it’s trading/performing in real-time.


  6. Dextools (DEX Trading Platform)

    Dextools is like a DEX "superhero" for crypto traders. It sets you up with tools and charts to easily analyze different cryptocurrency pairs on decentralized exchanges. You'll want to search the token pair and look for the DEXTScore. You want to make sure the project has a rating over 85 and look for these points:

    • Honeypot: Make sure this says "no". A honey pot is when you can buy, but not sell the token

    • Contract verified: Make sure this says "yes".

    Also, check the buy and sell taxes, the community trust score, and if it's undergone an audit.


  7. Free Crypto Profit Calculator (Portfolio Management)

    Want to know how much you could make or lose on your crypto investments? Then use a crypto profit calculator. Just plug in your buy and sell prices, along with how much you've invested, and get a breakdown of your portfolio's performance.

    Use realistic estimates, such as determining how much you’d make if your investment doubled. Ignore values such as tripling or quadrupling, a good first goal should be to meet your return on investment (ROI).


  8. Dune Analytics (On-chain Data Analysis)

    Dune Analytics is an amazing tool for checking out on-chain data from different blockchain networks. Just hop over to the "Discovery" section to see what new and trending tokens are being discussed in the crypto community.


  9. DeFi Llama (DeFi Protocol Analytics)

    This is my second favorite tool on this list. DeFi Llama provides data and analysis for decentralized finance (DeFi) protocols. Keep up with metrics like total value locked (TVL), trading volumes, and token performance across multiple DeFi platforms.

    This tool is a real gem. You can easily discover yield-earning possibilities in the world of crypto, no matter which blockchain you're dealing with. I like to use it for finding borrowing and lending opportunities where you can earn a yield for lending your crypto.

    • If it seems overwhelming you only need to research these two things:

    • Yield Pools

    • Stablecoin Pools

    The information you are checking in those categories is the pool, project, blockchain, TVL, and APY.


  10. Coin Market Cal (Crypto Event Calendar)

    Coin Market Cal is a cryptocurrency event planner. It lets you know about important events, like new products, token releases, and updates. The advantage of this calendar is that you can find out about projects and tokens before they’re released and be first in line for them.


  11. Crypto Panic (News Aggregator)

    Crypto Panic is the go-to news source in the crypto world, gathering and organizing all the latest updates and happenings from multiple outlets. Stay up-to-date on market changes, regulations, and industry updates with this trustworthy aggregator. This is genuinely the best news resource to use for crypto.


Final Thoughts

Researching cryptocurrencies is not an exact science, and there are no guarantees that your chosen tokens will perform well even with the most thorough research. This is where proper risk management becomes incredibly important.

The key factor that differentiates investing from gambling lies in how well you manage the risks involved.

The more you learn about crypto, the easier it will be to identify valuable projects with potential for growth over time. And remember, you don't necessarily have to buy a token in order to participate in its community. Continuously increasing your knowledge will also open up new opportunities for your future growth and success.

Continue to have a thirst for knowledge, and we wish you the best of luck in your pursuit of research on crypto.

We highly suggest taking a look at our complimentary e-book on cryptocurrency regarding low-risk investing options.

(Disclaimer: This article is not financial advice and is intended for educational purposes only. Our articles are not sponsored or affiliated with any of the businesses, tokens, teams, or protocols mentioned. It is important to conduct thorough research and only invest an amount that you are comfortable potentially losing. For personalized financial advice, consult a professional.)

Original publish date: May 08, 2024

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