Number of people dealing with cryptocurrencies increased significantly in past few years. There are many developments are in queue to take crypto to the mass adoption. Users can pay for services and can buy anything with the help of digital currency and there is a list of merchants accepting cryptocurrency payments. A number of people filled their bag with good profit as an early adapter. There are basically two factors plays major role while trying to earning with cryptocurecnies one is your know ledge about the cryptocurreny and blockchain and another one is knowledge about using the various cryptocurrency tools to put your knowledge in right direction. In this article we have made a list of 10 different types of crypto tools every crypto holder should know about. This article will also be helpful for people looking for business opportunities in blockchain and crypto domain.
At the time of writing this article we assumed that you must be crypto user and having little experience with them. There are a number of cryptocurrency tolls available in the market. Few common and well know crypto tools includes crypto exchanges, wallets and block explorer etc. In this article we will talk about few amazing, less popular tools which should be known to every users dealing with digital currencies.
Table of Contents
Different Types of Crypto Tools and Services:
Trading Bots are basically computer programs that automatically triggers buy and sell orders for cryptocurrencies with the aim of making profits. Users can pre-define the conditions on which they want to buy or sell their crypto. Whenever those conditions met, crypto bot executes orders set by the user. There are few websites providing users to create automated trading bots where users can also use and copy trading streategy of traders with good records. You can read more about different cryptocurrency trading bots.
Portfolio Management Platforms
Users can have their cryptocurreny funds in multiple wallets and exchanges. To be more secure it is always advised not to put all your crypto in one wallet of exchange so users put their funds in multiple wallets and exchanges. In that case it also become difficult to keep tracking of complete portfolio at a time since every time you have to login to multiple platforms or you can use copy pen to keep all the records but it is a frustrating task. The ultimate solution to deal with this problem is start using cryptocurrency portfolio management platform/apps. Portfolio apps manage your complete portfolio and calculates its worth with the real time crypto prices. you can also check your profit and loss with the help of attractive graphs and charts. We have a separate article on best cryptocurrency portfolio management apps.
Crypto Debit Cards
Cryptocurrency debit card works like any of your bank debit card but instead of fiat currency, they are powered by crypto in user’s wallet. Every crypto debit card is linked with a wallet (instead of a bank account in case of your banking debit card). Whenever user will swap crypto card to make a payment, crypto available in wallet will be converted to fiat and then payment will be processed but remember users have to pay the fee for conversion. There are many card providers in the market charging different fee and charges. You may read our article on 25+ cryptocurrency debit cards to read in detail.
The transaction made in Bitcoins are recorded and transparently available to the public in the form of Blockchain. Whenever you make any payment for service or product you may have to mention your name for billing or any other purpose which makes it risky that any third party can trace your transaction records with the help of given details. Now this is the place where you need a Bitcoin mixer to maintain the anonymity. Bitcoin mixer breaks the connection between two bitcoin addresses by sending your coins to other person and their coins to your wallet address. There are many Bitcoin mixing platforms are available in the market. It is highly recommended to go with only reliable one. Link to SmartMixer
Yes it is correct, the concept of lending is here also. Cryptocurrency lending open opportunities for both borrowers and lenders. These platforms connects lenders to borrowers on their platform. Lenders get crypto back when borrower pays it back. These cryptocurrency loans are backed by crypto coins where lenders receive interest on crypto holding at a set rate. You may read our post on best bitcoin lending platforms to get more idea about them.
Bitcoin mining or cryptocurrency mining is a process of verification of transactions with the help of computation power where miners verify Bitcoin’s transaction and receives a fraction of it as a reward. Mining requires technical knowledge as well as special setup of hardware and software which involves electricity cost and other parameters to decide the profitability. On the other hand, Cloud mining is basically renting a hardware from a company doing mining. These cloud mining manage everything and users only need to purchase mining contract (renting hardware for a period) to receive mining rewards for the same time period. There are 10+ Cryptocurrency cloud mining platforms available in the market.
Cryptocurrency tax calculator platforms are much similar to the portfolio management apps we have discussed above. Users can connect their wallet and exchanges to these websites to get the complete information about their net taxable amount. These websites displays users complete portfolio with graphical computation, their profit and loss statement along with their Tax details. You can read more about these platform in our detailed article where you will come to know about 8 best crypto tax calculator platforms and their features.
Crypto Payment Gateways
Have you seen the phrase, “Bitcoin accepted Here” in front of payment desk of any shop? Cryptocurrency payment gateway also know as payment processors are becoming very useful for the merchants to accept payments in cryptocurrencies. As the popularity and adoption of crypto increasing everyday it will be a great move to accept payment in cryptocurrency for your services. We have listed 17+ crypto payment gateways to accept cryptocurecy as as a payment option.
Bitcoin Transaction Accelerators
Scaling is one of the Biggest challenge faced by every user while making any Bitcoin payment. You must have experienced waiting time for the confirmation of crypto transaction which may take few minutes to hours. Many transaction got stuck due to low fee and takes a long time to get processed. Transaction Accelerator can help you in the situation where any of your Bitcoin transaction got stuck. These platform are basically a group of miners which takes some fee to put their computation power in verifying your transaction. Click to read about best Bitcoin transaction accelerator platforms.
Ad networks are platform which connects publishers and advertisers. IF you are a Youtube vlogger or a publisher of a blog/website then you must have already used ad network to show ads on your content to generate revenue out of it. Similar to those ad networks, Cryptocurrency ad networks are the networks which connects crypto blogger/publishers to crypto advertisers. These network also accept payment and payout in cryptocurrency. Read about 10+ best cryptocurrency ad networks here.
Last but not the least, Exchange aggregators are the websites where users can compare the exchange rates of the cyrptocurencies in real time. For example: if you want to exchange Bitcoin with Ethereum, Bitcoin aggregator tool will compare the exchange rate between these two crypto within all supported exchanges and highlight the option where you will be getting the best exchange rates. as shown in the image above. One example of this tool is Swapzone.io.