These are the top 4 free tools

The crypto market today: A wild ocean. While investors on small boats are sailing towards the bankruptcy waves of FTX, BlockFi and Co., a supposedly insurmountable tsunami is piling up with the bankruptcy rumors of Genesis and Grayscale. Right in the middle, crypto whales are collecting the already shattered investor portfolios and the suspicious regulators are up to their necks in water. What is needed now is helpful equipment. Stay in control with these four free crypto tools.

1. Governance Tracker

One of the core narratives of crypto space is decentralization. In order to be able to make important decisions in the future, there is governance. It is defined as the people or organizations that have decision-making powers related to the project. In order to vote on upcoming updates, the respective entity needs the governance token. The following applies: one vote per token. That is, the more tokens held, the higher the decision-making power.

Tracking this governance token distribution is essential, especially for small investors. The more centralized the distribution, the greater the loss of decentralization. And vice versa. With the free governance trackers from tally, Messari or DeepDAO you will get an insight into the structures of the respective projects.

Tally, for example, shows various DAO projects, their top voters and the associated voting power. Messari shines with its own filter function and DeepDAO clearly classifies the data of countless DeFi projects.

2. Telegram bots

Anyone who is active in the crypto space knows the instant messaging service Telegram. A popular alternative to WhatsApp. The countless functions that the free bots bring with them are also practical. Of the EtherDrops tracking bot has many such features. You can find one here Instructions to easily set up a customized bot.

The free one TokenUnlocks_bot reveals when cryptocurrencies are allocated, for example, to early investors. A particularly large clearance can lead to great price pressure if the insider plans to sell. On the site there is also interesting on-chain data.

The NFT market is currently in a real crisis of meaning. Nevertheless, it is definitely worth taking a look at the freely available tools – maybe for the future. CryptoSlam summarizes a series of NFT-related data and presents them clearly. Particularly exciting for football fans: the dedicated one Fan Token Listing. Anyone actively trading in the highly speculative NFT market can get important insights on the “Upcoming Drops” page.

After the bankruptcy of 2022, many investors have had enough of promises like “passive income”. However, if you are still not deterred, you can use the Crypto tools StableFish the highest returns. For example, an initial offer is “42 percent 1d APY” on the leveraged USDT stablecoin. However, critical questioning and risk assessment is essential for such promises. Every investor should make it clear in advance how this massive return can be generated.

If you prefer to use a hardware wallet, you should also be aware of the risk of loss when storing it yourself. You can find out more in the BTC-ECHO wallet comparison.