Best Crypto Screener
16 Jul, 2022
Right now, there are more coins and tokens than ever on the cryptocurrency market, with more appearing all the time. As crypto steadily grows in popularity, an ever-increasing number of people are taking the plunge and creating their own digital currency, whether to generate additional revenue or for other reasons.
So, you might be wondering, with so many different kinds of cryptocurrency available, how do investors know which coins and tokens are worth putting money into? One way crypto consumers evaluate digital currencies is through the use of crypto screeners.
If this term is unfamiliar to you, don’t worry! In this article, we’ll break down what a crypto screener is and why they’re so useful. We also provide a breakdown of the top seven crypto screeners available now to help give you a place to start.
What Is a Crypto Screener?
In simple terms, a crypto screener is a handy piece of software used by investors to find promising new coins and tokens on the market. Crypto screener programs scan the crypto sphere for digital assets that meet a certain set of criteria—criteria that you can set. This means you’re able to find exactly what you’re looking for.
Criteria you can filter your searches by include:
The price of the asset.
The current volatility of the asset on the market.
The asset’s market capitalization.
The percentage price change of the asset within the past twenty-four hours.
The average daily trading volume of the asset.
Once you’ve provided the crypto screener with these criteria, you can search for tokens and coins that match up.
Why Should You Use a Crypto Screener?
But do crypto screeners even make a difference to your trading? Are they worth using?
Crypto screeners are indispensable for aspiring traders and cryptocurrency consumers. With more than 10,000 digital assets being traded each day in the crypto sphere, they’re essential for being able to isolate the cryptos that are of interest to you.
Expert traders use crypto screening programs in order to find the best trading opportunities out there. This means they don’t need to waste time trawling through crypto listings, studying individual assets, and charting their progress on the market.
In other words, crypto screeners are a great time saver. If you want to find success as a trader, screening programs will simplify the process for you.
Identifying Charting Patterns
As well as helping you find new, promising cryptocurrencies, crypto screeners can also help identify charting patterns. Chart or price patterns are an integral part of technical analysis—a key tool in investing and trading. Successfully analyzing charting patterns can help investors figure out when to enter or exit the market.
Crypto screeners take care of the challenging task of identifying these patterns as they occur in the market. This is particularly useful for investors who are still relatively new to the crypto sphere, or trading in general, as it can help familiarize you with the different sorts of patterns out there.
Getting a View of the Market
Additionally, crypto screeners also help you gain a big-picture view of the market, helping you spot undervalued assets. This all-encompassing view of the market will help you determine promising entry points and opportunities for investment.
What Are the Best Cryptographic Screeners?
Now that we’ve explained what crypto screeners are and have discussed some of their main benefits, we’ll now break down seven of the best cryptographic screening programs out there. When choosing a crypto screener, take into account your trading preferences, and think about which program will best suit your particular style of investing.
CoinMarketCap is easily one of the most popular crypto screeners available today, both among beginner traders and experienced investors. The program offers lots of useful information on a wide range of coins and tokens—a useful feature, no matter your level of trading experience.
Aside from scanning for digital assets, this program also explains the technology behind each cryptocurrency project it scans.
CoinMarketCap has another feature, one of which fewer users are aware. By creating a portfolio with this software, you’re able to use more advanced crypto screening tools and are able to add assets you’re interested in into a watch list for continued observation.
Because of the variety of useful features available through CoinMarketCap, it is the perfect crypto screener for beginner investors.
Second, on our list is CoinGecko. Another extremely popular crypto screener, this program has the advantage of being free to use. CoinGecko has also been around for a few years now, meaning that any early kinks in the software have long since been ironed out, providing users with a seamless experience.
With this software, you can filter out various digital assets by several criteria—platforms, hashing algorithms, and much more. This makes it easy for you to find precisely what you’re looking for.
But by far the most useful feature of CoinGecko is the information it offers on new assets in your portfolio. The best way to take advantage of this is to register an account and add some tokens and coins to your profile. CoinGecko will then provide you with all the information you need to know to make informed decisions about investing in these currencies.
LiveCoinWatch is known for being the first application to allow you to monitor the price of digital assets in real time, with these prices updated every few seconds using data from leading exchanges.
It isn’t only the price of the coin you can keep up-to-date with, however. LiveCoinWatch also lets you monitor the asset’s market ranking so that you can get an idea of its performance. This ranking is calculated using crypto capitalization.
Messari is another example of a crypto screener that can help both new and experienced investors. Its numerous features should prove useful no matter your level of experience, and no matter whether you’re an investor, a crypto developer, or an executive.
This program has more than one hundred filters you can use to sort digital assets. It also presents you with a ton of useful information and statistics on every coin and token on the platform, all presented in a clear, easily understandable format. Messari even tells you a little about the history of each coin, on top of metrics such as market value and volume.
Cryptolume is most beneficial to experienced, professional traders. For one thing, it isn’t free, so unless you have the capital to spare, it’s more beneficial to use this service if crypto is your profession. That way, the platform should pay for itself!
This all-in-one software has lots of screening tools and features, as well as customizable alerts to keep you updated when coins or tokens in your portfolio move on the market.
LunarCrush differs from the other crypto screeners on this list in that it is based on social intelligence. This means that the software ranks digital assets using social analytics. By bringing together social intelligence and market analysis, LunarCrush is able to help you make smarter trades and investments.
There’s no denying that the cryptocurrency space is extremely malleable and manipulative. With no more than a tweet or offhand comment in an interview, influencers and celebrities can entirely change the trajectory of a coin or token. Therefore, using social metrics when analyzing the market just seems to make sense.
Some of the metrics LunarCrush uses to predict price movements include social volume, content volume, and social connection.
The final entry on our list, and one of the newer options here, DYOR is a cryptographic screener for investors who trade in derivatives. This program searches for chart patterns and can be used to evaluate spot markets along with Binance.
DYOR has more than one hundred and fifty filters that can be personalized to better suit your trading style. No matter your investment strategy, this powerful, customizable platform can help isolate promising investment opportunities.
This article is based solely on our own findings and should not be taken as financial advice. Cryptocurrency is inherently volatile, making it a high-risk investment for even experienced traders. The above information should not be taken as instructional or as an endorsement of investing in cryptocurrency. Rather, it should be seen as informational only.