In this fresh new article, we have compiled the best crypto tools in 2023 to give more steam to your crypto trades. So, this best crypto trading tools guide pretty much covers everything you need to profitably trade cryptocurrencies. These top crypto trading tools belong to a number of categories:
- Crypto charting tools
- Crypto trading bots
- Best cryptocurrency exchanges
- Crypto tracking tools
- Crypto portfolio management tools
- Best crypto wallets
- Crypto research tools
If you want to make consistent profits out of crypto trading, you need to get familiar with the best crypto tools. The top crypto tools mentioned in this guide will help you make more informed trades in a safe and secure way. But, before that, let’s first look at what is a crypto tool.
- 1. What are crypto tools?
- 2. Types of crypto tools
- 3. What are the benefits of using crypto tools?
- 4. How to choose the right crypto tool?
- 5. Best crypto tools in 2023 - FAQs
1. What are crypto tools?
A crypto tool is any application, platform, or software that helps you trade cryptocurrencies with utmost safety and security. For instance, you need an efficient crypto exchange to buy or sell crypto assets. Similarly, you need a secure crypto wallet to store your cryptos.
Also, you need charting tools to identify trading opportunities or backtest your strategies. So, crypto exchanges, wallets, or charting tools are examples of crypto tools.
If you're eager to explore the realm of cryptocurrency, don't miss our dedicated article titled What is Cryptocurrency And How Does it Work. In this comprehensive guide, our experts delve into the inner workings of cryptocurrency, its intrinsic value, and its various applications.
2. Types of crypto tools
Crypto tools are of different types depending on their functions. Here is a list of crypto tools of different types:
- Crypto exchanges (centralized and decentralized)
- Crypto charting tools
- Crypto research tools
- Crypto trading bots
- Crypto wallets
- Crypto portfolio trackers
- Crypto scanners
There can be a number of other crypto tools depending on how they help you in trading cryptocurrencies. One such example is the crypto tax tool which helps you calculate your tax liability on crypto profits. Now. let’s look at what crypto tools are the best in different categories.
2.1 Best centralized crypto exchanges in 2023
Centralized crypto exchanges are the most common type of crypto trading platform. Centralized crypto exchanges act as intermediaries between buyers and sellers to facilitate crypto trades. Since these exchanges take care of many of the nitty-gritty of crypto trading, it makes your trading experience hassle-free.
While it’s true that decentralized exchanges are potentially more secure than centralized exchanges, the former ones are more complex. Moreover, centralized exchanges have better customer support. So, new traders can find centralized exchanges easier to use. Here are the best-centralized crypto exchanges:
It offers hassle-free crypto trading at a very low cost. It also has an easy-to-use trading app and excellent customer support. Bybit offers AI-powered trading tools like TradeGPT and trading bots to automate your trades. So, Bybit is one of the best crypto exchanges out there for new users as well as advanced traders. You can also use our Bybit promo code when joining the platform.
KuCoin is one of the most popular centralized exchanges with about 30 million users. KuCoin is also one of the most trusted crypto platforms because of its excellent safety records. KuCoin claims that 1 in every 4 crypto holders use its services. You can trade more than 700 crypto coins on KuCoin. Also, it has an average 24-hour trading volume of over $1 billion. When joining you can use our KuCoin referral code - follow through the link to read our full review of the platform.
BTSE is another low-cost and easy-to-use centralized crypto exchange. BTSE has an excellent security record. It’s also a great place for getting hold of new crypto tokens. You can use BTSE to trade over 150 cryptocurrencies in both spot and future markets. Make sure to add our BTSE referral code when opening an account.
It’s one of the top crypto exchanges offering binary trading. It’s a simplified way of crypto trading in which you just need to bet on whether an asset price is going up or down in a given time frame. What makes Bubinga one of the best crypto platforms is that it makes crypto trading accessible to everyone.
All these four crypto exchanges offer an exciting welcome bonus for new users. In addition to these top centralized exchanges in 2023, two other top crypto exchanges are Binance and Coinbase. They provide plenty of trading options and advanced trading tools.
2.2 Best decentralized crypto exchanges in 2023
Decentralized crypto exchanges offer complete peer-to-peer crypto trading without the need for any intermediary. These exchanges are supposed to be much safer than centralized exchanges. This is because, in a decentralized exchange, you always get to keep the custody of your crypto assets.
Decentralized exchanges can offer a user-friendly experience for new users who may appreciate some guidance in crypto trading. Still, if you would like to trade on decentralized exchanges, here are our top choices:
- dY/dX: It’s the top choice for crypto derivatives traders.
- Uniswap: It’s the most popular decentralized crypto exchange.
- Curve: It offers an excellent choice of stablecoins.
- GMX: It’s the best decentralized crypto exchange for perpetual futures trading.
- 1 inch: It’s the top choice in the low-cost decentralized exchanges category.
Combined, these centralized and decentralized exchanges constitute the best cryptocurrency trading tools. These exchanges offer cutting-edge cryptocurrency trading platforms. And, if you are just starting, but already chosen to trade Bitcoin, we've put up a guide on how to buy Bitcoin online.
2.3 Best crypto wallets in 2023
After you have bought crypto from one of the top crypto exchanges, the next thing you need to do is safely store your crypto assets. A crypto wallet is a digital wallet in which you store the private keys of your crypto coins. Securing your private key ensures continued access to your cryptocurrencies.
So, you must select the top crypto wallets that provide the utmost security. A crypto wallet can be a hardware wallet (also called a cold wallet) or a hot wallet. A hot wallet is an online wallet that stays connected to the Internet. A cold wallet is a hardware device that stays offline.
As you can see, a hardware wallet is much safer than a hot wallet. The former, however, can be more user-friendly. To use your crypto, you need to connect it to the Internet each time. So, our suggestion is to store a fraction of your crypto assets in hot wallets while keeping the larger part of it in a cold wallet. Let’s look at the best hot and cold wallets available in the market as of 2023:
Best hot wallets in 2023
What is the safest hot wallet for cryptocurrency? Here are the top 3 hot crypto wallets in 2023:
- Best-in-industry wallet security
- A safe crypto tool supporting hundreds and thousands of tokens and dApps
- Self-custody wallet giving you complete control over your cryptos
- Backed by Coinbase Exchange, the second largest crypto exchange (by trading volume) in the world
- More than 60 million users
- Available as a mobile wallet, desktop wallet, and a browser extension
- Works on Android and iOS devices
- Supports cryptos, NFTs and dApps
- Preferred by over 30 million global users
- A self-custodial wallet giving you full control over your crypto assets
- Best suited for the Ethereum blockchain, which is the main platform behind dApps, Decentralized Finance (DeFi), and NFTs
Best hardware wallets or cold wallets in 2023
Hardware wallets are part of the so-called cold wallets. According to our analysis, these are the best 3 cold wallets in the market:
Trezor Model T
- The most advanced and secure hardware wallet for storing cryptos
- Securely connects to your device using USB-C
- Supports 1000+ cryptos assets
- Offers advanced security features to mask identity, enhance recovery security, and protect your private keys
Ledger Nano X
- Easy to connect using a smartphone, laptop, tablet, or desktop
- Can store up to 100 different crypto assets
- Provides multiple layers of security including a secure element chip and a PIN code.
- Compatible with different operating systems like Windows, Mac, Linux, iOS, and Android
- One of the cheapest options in the hardware wallet space
- First hardware wallet supported by Binance Labs
- Fully decentralized - offering 100% ownership of your crypto assets
- Includes multiple layers of security sensors
2.4 Top crypto research tools
You need different crypto research or analysis tools to decide which crypto coins to buy or sell and when. There are a number of crypto research tools in the market which provide you with you latest data, analysis, and insights. Here are the best crypto research tools:
Bybit Tools Discovery
- AI-driven tool by leading crypto exchange Bybit
- Offers personalized recommendations and insights based on your trading habits and preferences
- Improves trading performance by suggesting best trading strategies
- One of the most popular crypto websites for all types of cryptocurrency-related data and insights
- Provides real-time data like market price, market cap, and trading volume of over 8,000 cryptocurrencies
- A one-stop solution for all information and analysis needs related to crypto
- In addition to real-time market data, it provides a crypto wallet tracker, benchmarking tools, learning resources, review of crypto trading tools, news & analysis, and crypto reports.
2.5 Best crypto charting tools
Charting is probably the most important aspect of trading any asset. Almost all crypto trading decisions are based on chart patterns. Crypto charting tools help you use the most advanced charting features and functions to design profitable trading strategies or backtest your trade ideas. In our opinion, these are best crypto charting tools in 2023:
- The uncontested market leading in charting tools
- Integrated with the leadign crypto exchanges to facilitate seamless chart analysis and trading
- Offers a wide range of technical analysis tools
- Integrated with 45+ crypto exchanges to bring the best insights and analysis
- An advanced charting tool bundled with a wide range of features
- Facilitates trading across multiple exchanges
- World’s first multi-asset overflow charting and trading solution provider
- Integrated with top brokers to execute trades directly from the GoCharting terminal
- Offers with 150+ premium indicators and 300+ technical analysis studies
2.6 Top crypto trading bots in 2023
Crypto trading bots are the newest innovations in crypto trading. Crypto-trading bots are mainly AI-driven tools that help you automate trades and monitor the market without your active involvement. They are equipped with a number of other advanced features like sentiment analysis, identification of trading opportunities, and execution of trades on your behalf. Here are the best 3 crypto trading bots in 2023:
- Highly customizable trading bot to deal with a wide range of trading situations
- Helps you automate trade, manage stop losses, and track your portfolio.
- Offers advanced features like DCA, Market-Making, Arbitrage
- Extremely suitable for new users because of no-code features
- Easy to create a trading system and follow smart investors
- Help build custom trading strategies to monitor the market and trade 24/7
- Helps you automatically buy low and sell high
- Offers 16 built-in trading bots for specialized trading functions
- Manages monthly trading volume worth $50 billion+
If you would like to learn more about investing in crypto, our experts at JohnnyBitcoin have prepared additional articles, such as our comprehensive guide on how to invest in crypto, which will help you understand the vital steps involved in crypto investments.
2.7 Best crypto tracking and portfolio management tools
A crypto portfolio tracker helps you monitor your crypto portfolio without much effort. They also help you monitor the movement of your favorite cryptos, offer risk-return analysis, and suggest cool portfolio management tips and tricks. Here are some of the great crypto tracking and portfolio management tools currently available in the market:
- Kubera: Helps in tracking multiple assets in one place.
- CoinStats: Effectively tracks crypto portfolio.
- Delta: Offers detailed insights into crypto trades.
3. What are the benefits of using crypto tools?
Even the best surgeon can’t conduct a successful surgery without the required medical tools. Similarly, irrespective of how smart or intelligent you are, you need to have the latest trading tools to execute successful crypto trades. There are several advantages of crypto tools. Some of these advantages are:
- Crypto tools provide you with the latest market data, news, analysis, reports, and insights
- They help you execute your crypto trades in a safe, secure, and convenient way
- Crypto tools help you manage a portfolio, calculate risk and return, and devise best trading strategies
- Crypto tools like trading bots help you free up your time by automating your trades.
- Crypto tools like crypto wallets keep your crypto assets safe and far from hackers.
- Moreover, best crypto tools help you get an edge over other traders.
Read our article on how to safely store your cryptocurrency to learn more about crypto wallets. We go even more in depth into the types of crypto wallets and their advantages.
4. How to choose the right crypto tool?
There is no magic formula for choosing the right crypto tool. This best crypto tools guide mentions some of the leading crypto tools in different categories. You can carefully select among them based on your needs and trading strategies.
Remember that different trading tools may be suitable for different types of traders. So, always choose a tool based on your personal trading style and trading preferences. You can also test a number of tools before choosing one for the long term.
If you want to learn more, visit our main page and scroll through the available articles. Our experts have prepared and reviewed the best cryptocurrency bonus codes avaialble on the market.
5. Best crypto tools in 2023 - FAQs
5.1 ❓Are crypto tools safe to use?
The top crypto tools are safe and secure as they are associated with the leading players in the industry. Also, they deploy the latest technologies and safety features to make these tools secure for users.
5.2 ❓Can I trade on mobile?
Yes, absolutely! Almost all leading crypto exchanges have trading apps or trading tools for mobile that can be used on Android or iOS mobile devices. In fact, crypto trading on mobile is extremely popular among new-age traders.
5.3 ❓How to trade crypto with bots?
Crypto trading bots are easy-to-use tools for automating your crypto trades. They are equipped with a range of advanced features to fulfill all your trading needs. All crypto trading bots come with basic instructions that are easy to follow and apply. You can also experiment a bit to come up with your personalized way of using these tools. We have mentioned a number of leading crypto trading bots in this article on best crypto tools in 2023.