There are so many cryptocurrencies and digital tokens in the crypto sector. You can sell, buy, and trade them easily. Likewise, now you can swap popular coins like DASH to LTC at an instant exchange like LetsExchange.io. Trading Bitcoin and Ether for newer, more promising currencies and tokens are frequently more rewarding.
Investors must have a method for spotting potential buyout targets. An investment screening tool helps you find the most lucrative possibilities to diversify your holdings in cryptocurrencies. Now, there are numerous of them, and they appeal to a wide range of investors with varying degrees of expertise and preferences. If you want to find the right one for you, keep reading.
What Exactly Is a Crypto Screener?
In a nutshell, a crypto screener is a tool that helps in discovering new cryptographic currencies and tokens. When scanning for new digital assets, you may use a variety of different criteria, such as:
- The value of a company’s market;
- The volume of trade daily on average;
- Percentage change in the previous 24 hours.
As a result, coins and tokens that fit your search parameters will be listed via a crypto screener.
5 Best Crypto Scanners
There’s no better moment to use a crypto market scanner than right now when the whole industry is rumbling and unsettled. However, the first few months of trading cryptocurrencies on an exchange might be difficult for newcomers. So, here you are with the best crypto scanner to help you get alerted to price moves across exchanges, and you may act adequately.
CoinMarketCap is a popular and versatile screener for both novice and experienced traders. Besides scanning the market for new coins and tokens, this portal discusses the technology behind each crypto project on its scanner.
Creating a portfolio on CoinMarketCap gives you access to additional screening features that are generally unavailable. A watch list is a convenient way to regularly keep track of coins you’re interested in. Traders that are new to the market may find this helpful screener.
2. The CoinGecko
CoinGecko has been around for a long time and is completely free. The information on this platform comes from a wide range of cryptocurrencies. Scanning may be filtered by several parameters, including hashing methods and platforms. CoinGecko’s availability of information on all new coins is one of its prominent advantages.
Using this tool, you can watch your investments around the clock. Every few seconds, important exchange prices are retrieved. You can keep track of the coin’s position in the market and its price based on its value. Volume-weighted average currency price is multiplied by the coin’s circulating supply to get the coin’s capitalization value.
Professional traders and investors should use this crypto screener. However, the high-quality data provided by the platform justifies the cost. With this software, you have the option to examine other crypto investors’ investment portfolios. Researchers and other experts in cryptography use Messari’s more complex capabilities.
Another cryptocurrency scanner, Cryptolume, is geared for more experienced and knowledgeable investors. It’s the most excellent all-in-one platform out there. That screener has a wide range of options and scanning options for users. You can customize the notifications sent to your desktop each time anything happens. If you’re a crypto market analyst or trader, that’s a worthwhile investment.
Which Crypto Screener Is the Best Out There?
It all depends on your preferences. Your trading approach and degree of expertise as a crypto trader play a role. Compared to CoinMarketCap, Cryptolume is a more complex crypto screener for advanced traders.