The purpose of this article is for educational purposes only. All advice in this article is not financial advice and please do your own research before you invest in anything.
Cryptocurrency has been on a huge upward trend since the beginning of 2021. As of the time of this writing, the entire market cap of the entire cryptocurrency market is $2,268,681,261,147. That’s over 3 trillion dollars in cryptocurrency. The largest cryptocurrency, Bitcoin, currently has a market cap of $1,182,512,835,916. As more and more established financial institutions begin to take cryptocurrency seriously, online tools that help you track and follow the cryptocurrency market will become more widely available. Here are some tools to help you keep a pulse on the cryptocurrency market.
CoinMarketCap (https://coinmarketcap.com)
One of the most famous cryptocurrency websites, CMC reported 100 million visitors in February 2021, making it more visited than websites such as the Wall St. Journal and Bloomberg(1). CMC has so much information, it may get overwhelming to the average investor. On the site, you can take a look at the whole crypto space, from individual cryptocurrencies to exchanges, to DEFI lending protocols, to NFTs, and much more. CMC also allows you to create watchlists and track your cryptocurrency portfolio. CMC is extremely user-friendly and really important for anyone looking to get into the crypto space, a beginner, or even a seasoned cryptocurrency investor. CMC has tools for everyone.
StakingRewards (Stakingrewards.com)
While CMC is for anyone involved in Cryptocurrency, Stakingrewards.com has information for more experienced cryptocurrency users. According to Binance Academy, “[staking] involves holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network. Simply put, staking is the act of locking cryptocurrencies to receive rewards.” (2) For experienced cryptocurrency users and traders, staking is a way to create passive income. Staking can be complicated based on the service that you use. Staking can be as easy as storing your crypto on an exchange, such as Coinbase which offers limited staking rewards, or Gemini Earn which offers more extensive staking rewards. Or it can be more complicated such as using an external wallet such as Celcius or Nexo Wallet. The most complicated staking involves DEFI lending protocols or liquidity pools. Generally speaking, the more complicated and the more work involved in the staking, the larger percentage of rewards you can expect to receive.
Yahoo Finance/Google Finance
For the more traditional investor, Yahoo or Google Finance may fit your needs as well. When working on a more established website, users may feel more comfortable that they aren’t using some obscure website that they haven’t used before. Both Yahoo and Google Finance have cryptocurrency sections where users can track their cryptocurrency as well as their stocks on the same website. This option may fit someone whose investments mainly rely in traditional types of investments such as stocks or ETFs. However, you may find that the cryptocurrencies available on both sites are not as extensive as those found on CMC or StakingRewards.com. In fact, Google Finance only allows users to track four different cryptocurrencies compared to the thousands available to track on CMC.
Whether you’re just getting started in cryptocurrency or have been holding Bitcoin for five years, there are always new cryptocurrency tools that anyone can use. Whether to track your favorite cryptocurrency or just to see cryptocurrency news, these resources can help any cryptocurrency need.
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https://academy.binance.com/en/articles/what-is-staking