10 Free Crypto Tools You Can Use

For those of you who have followed our beginner’s guide to crypto, you should feel 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 have also emphasized the importance of doing research in the right way, so that you can always be equipped to make informed decisions. Although this space offers many opportunities, there are also many risks and misinformation out there. Fraudulent projects and scams have become widespread in the crypto space, and it is important to learn how to spot red flags.

By this stage, 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 remains primarily with yourself.

In the latest installment of our series, we’ll look at 10 free tools that can help make your life easier and guide you through this ever-changing world of crypto. These cover a wide range of applications, including charting, price analysis and portfolio tracking.

Price tracking and portfolio management

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

Price information is available free of charge to all users without registration. It is possible to look at the historical prices of coins, often from years back or to when the coin was first introduced.

Along with this, both sites also report statistics such as the highest and lowest price that a coin has traded for in a given period of time. This can be useful for gauging the widespread sentiment around a coin you want to invest in.

By creating a free account on both websites, users can also access their respective portfolio trackers. These allow you to manually enter the coins you’ve invested in – the amount and price of your 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.

Analytics

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

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

Glassnode is a beginner-friendly platform that provides access to basic calculations such as market value, transaction rate and transfer volume for free. There are descriptions that explain the purpose of each metric, and users can also compare different metrics on the same graph.

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 cryptocurrency’s potential on Twitter, it’s hard to tell if their insight is legitimate or if they’re just promoting the project because they’re invested in it 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 may not always be true or positioned to optimize clicks, also known as clickbait.

People can even use fake accounts to make it seem like a project has more followers than it actually does. Through data analysis, you can check the number of wallets that actually contain said project’s cryptocurrency and decide 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 personal watchlists and access up to two years of historical data, albeit with a 30-day delay.

Mapping

If you want to engage in your own technical analysis, TradingView is the ideal platform for reading charts, drawing indicators and testing 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 understand them. Those who are already familiar can get started immediately and start planning their investment strategy.

The platform allows the community to create and share their own scripts well. These are lines of code that can interpret price information and prove useful in identifying future trends. Using these scripts, users are free to test their theories about market movements and measure how well their strategies will 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 keep building your knowledge and learn about new trends, and even read back if things get a little fuzzy. The crypto space is constantly changing, and to ensure you make the right investments, it’s important to stay informed.

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 beginners and advanced crypto enthusiasts. The content is written to be easily digestible and jargon-free.

If you enjoy reading on the go, Luno Discover is also available in the free-to-download Luno app. 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 @luno_sg on Instagram. It’s a way to stay up-to-date on 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 explanations 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 apps built to track 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 marketplaces, 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 marketplace individually and instead let you know the lowest price you can buy an NFT for.

Solsniper has TradingView’s charting tool built into the website, so users can also perform technical analysis on NFT price movements. The website also tracks the unique holders of each NFT pool, and the number of NFTs held by the top 50 holders.

If the supply of an NFT pool is concentrated among a few holders, there is always a risk that they may dump their holdings and significantly affect the price. 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 as well.

That being said, we’ve 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 world.

This guide was created as part of Luno’s ongoing mission to encourage responsible crypto participation. In this ever-growing area, it is important to prioritize education and ensure that users – both new and experienced – are well aware of making the right investment decisions. If you feel the need for a refresher, please refer back to the other sections 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 out the other articles here:

– Part 1: Blockchain and Cryptocurrencies
– Part 2: Coin types and risk
– Part 3: NFTs, DeFi and the 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 been granted an in-principle approval by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Cryptocurrency is a high-risk investment. The value of cryptocurrency may fluctuate significantly and you may 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