Cryptocurrency Exchanges, Research Sites, Apps and Wallets.
– tools to get you started.
These no hassle exchanges allow traders to sign up, deposit, trade and withdraw with minimal information. The sign-up process requires nothing more than a single email address and password. Each exchange has been personally tried and tested by many of our community members and come highly recommended. While this is currently the case, that can change at any time and we always recommend that users do not keep a large balance on any centralized exchange. Remember, the whole point of cryptocurrency is about personal responsibility. The safest place for your coins should always be your own personal storage wallet, secured and backed up!
Instant exchanges have an advantage over our no hassle exchanges, in that these exchanges do not hold users coins, but simply exchange one coin for another, then return it directly to their wallet. This requires no sign-up or any other information, other than your wallet addresses. For example, you can choose to exchange BTC for ETH by selecting the amount you wish to exchange, entering your ETH address and then sending the required amount of BTC to the provided BTC address. Once the BTC is received by the instant exchange, the equivalent amount of ETH will be sent to your provided ETH address. While this process is still centralized, the amount of time the actual exchange holds your funds is minimal. The downside to using an instant exchange over a no-hassle exchange is that fees are typically much more than those of other exchanges. While okay for a single transaction, this is usually the biggest drawback for an active trader.
In this next section, you will find useful links for researching and comparing coins.
Coinmarketcap is my favorite resource due to the links they provide for each coin. From the main page, you can sort coins by name, market cap, price, volume (24h) or change (24h). If you are new to reading stats, I would suggest you sort by market cap (high to low) and read the stats from there. This way you can get an idea of the size of each coin, by comparing the amount invested. From there you can click on the coin name, we will use Ethereum as an example, and you will see on the top left (for most coins) website, announcement, and explorer. “Website” will obviously take you to the coins official website. “Announcement” will usually lead you to their announcement of the coin on bitcointalk.org, or another forum. I find this announcement link particularly useful as you can get a lot of information, reaction and thoughts from the community about a particular coin.
Bitcointalk.org is a good resource for much more than just bitcoin. You will find they have an official announcement or thread for just about any crypto coin you can find. As mentioned above, this forum, as well as others, can be a great resource for learning more about a coin and getting an overall community feel for a coins potential.
Known as the front page of the internet, Reddit describes Bitcoin as the currency of the internet. This is no doubt another invaluable resource when researching cryptocurrencies. Within Reddit users will find many unfiltered opinions about each different cryptocurrency.
Invaluable apps for your smartphone include two portfolio managers and one mobile wallet!
Now that you have a large portfolio of coins within various wallets, you may be looking for a way to keep track of them all. Blockfolio offers a clean mobile app available for both iOS and Android. Within blockfolio you will be able to keep track of just about every coin, its current value against fiat and daily price changes. This app will allow users to track their current portfolio holdings, set price alerts and manually add and remove coins from their portfolio list. All coin information is entered manually by the user, this app does not require any access to your coins or wallets. It really is a useful tool!
Similar to coinmarketcap, this is a useful app for keeping track of the current market cap for each coin, from a users smartphone. While presented differently then Blockfolio, this app also allows you to build “Altfolios” of your current altcoin holdings, complete with an alert manager to alert users of future price changes.
Coinomi is a multi-coin mobile wallet for your smartphone, with over 90+ supported coins, this is truly an impressive mobile wallet. Currently available for Android at the Google play store, and coming soon to the iPhone AppStore.
Multi-Coin, Core, ERC-20, Hardware, Paper, and Bitcoin only Wallets.
Multi-coin wallets are just that, wallets that allow users to hold multiple coins within a single wallet. These wallets are usually lightweight, convenient and relatively safe. They are third-party solutions and usually hold the more popular coins. These wallets are not, however, the official wallets of the coins they hold. You can usually find the core wallets for each individual coin listed on the coins official website. Core wallets usually require you to download the entire blockchain of transactions, making many of these multi-coin, lightweight wallets more attractive to the casual crypto hodler
Exodus is a community favorite multi-coin wallet, it is lightweight, user-friendly and offers one of the most attractive user interfaces of any wallet. While not 100% open source, many of the wallet functions are open source and the developers are working towards becoming open source at some point. Because this wallet is not 100% open source, this may not be the best option for storing very large amounts of cryptocurrency. Large amounts of cryptocurrency are usually best stored offline, using cold storage practices. This wallet allows users to hold a variety of coins, including Aragon, Augur, BAT, Bitcoin, Bitcoin Cash, Civic, Dash, Decred, District0x, EOS, Ethereum, ETH Classic, FunFair, Gnosis, Golem, Litecoin, OmiseGo, and SALT. These coins can be displayed as a portfolio, showing your whole crypto net-worth, or individually displaying the current value of each coin vs the value when you received the coin. This is a very simple program to use, with a very secure backup and restore feature, requiring only a “seed word”. Note: A seed word is a 12-word passphrase, that will allow you to restore your entire wallet should you lose access to your computer. It is very important that you copy your seed word and store it in a secure place, should you ever need to restore access to your wallet.
Eden is known as the unsupported, advanced version of Exodus. Eden warns that normal Exodus users should not use Eden, as Eden is unsupported, pre-release software and things are likely to break. That said, because Exodus has such a thorough screening process for the coins it chooses to list, it can take some coins longer than others to make it to the program. Eden gives a little more flexibility allowing users access to more coins sooner. In addition to the coins Exodus offers, Eden supports: 0x, Bancor, DigixDAO, Factom, FirstBlood, Metal, Ripple, Status, Storj, Wings, and Zcash.
Looking for a safe, open source, lightweight, user-friendly, bitcoin only wallet? Electrum is known by the community for being the most secure light-weight bitcoin wallet, good for both long and short-term storage of bitcoin. This wallet is pretty basic, yet has everything you need in a Bitcoin wallet and is really simple to use. You can even use this wallet across multiple devices including iPhone, Android, Windows, Linux, and Mac. Even install in “watching only” mode on your smartphone, or other devices. “Watching only” to allow you to receive funds and watch your wallet, without the possibility of someone spending your bitcoin if they happen to gain access to your device (smartphone). Just be sure to make a copy of your “seed word”, as you will need it should you ever lose access to your computer and need to restore your wallet.