How to Trade Crypto – Finding the Right Cryptocurrency
Finding the right crypto for you to trade has never been easier. With Moralis, you get unbiased on-chain data, enabling you easily find coins fit for your trading strategy.
With this data, you can find the latest coins and see what currencies experienced buyers are interested in. What’s more, using Moralis is entirely free!
No signups are required. No personal data is needed. And no BS!
For professional traders, the Moralis Pro plan is the go-to option. This will give you access to real-time, on-chain data, so you can stay ahead of whales and react to new coin opportunities before tokens explode.
You can experience the power of Moralis right now using the interactive widget below. Try one of our premade filters, or create custom filters by combining the metrics of your choice!
Altcoins Found with Moralis
The team of experienced traders behind this amazing tool managed to find EGLD and MATIC before these cryptocurrencies surged in price:
- We found MultiversX (EGLD) when it was trading at just $9.18. Less than a year later, the price reached $524.58, leaving us with a 5,800% profit:
- Our team of traders also found MATIC a couple of years back when trading at only $0.003. The price then skyrocketed to $2.9, resulting in an impressive 96,400% profit:
Also, with Moralis, our users managed to detect HEX as it was getting ready for another price rally. Here is a tweet to prove it:
For users acting on the data supplied by Moralis, they were able to profit from a hefty 400% increase:
3-Step Breakdown on How to Trade Crypto
In this section, we’ll show you how to trade crypto in three straightforward steps!
Step 1: Get a Cryptocurrency Wallet
The first thing you should do is set up a Web3 wallet. This is necessary for storing cryptocurrencies and interacting with Web3 platforms.
There are several different alternatives available. Your choice of wallet should depend on your preferences. For instance, it depends on what network you want to trade on, usability, etc.
We recommend using MetaMask as this is one of the most prominent wallet providers. What’s more, MetaMask is compatible with most EVM-based blockchain networks.
Step 2: Choose a Strategy and Find the Right Assets
With a Web3 wallet, you must pick a strategy for trading crypto. For example, are you looking to get into day trading crypto? Or are you looking for a more long-term strategy? These are questions you need to ask yourself.
Once you have selected a strategy, you’ll need to find assets. This is where Moralis enters the equation. With the Token Explorer feature, you can effortlessly find tokens matching your strategy and criteria.
However, we’ll show you more about how Moralis works in the ”Moralis – The Best Way to Trade Crypto” section.
Step 3: Start Buying
When you know what assets you’re after, all that remains is purchasing them. To do so, you have two primary options:
- Centralized Exchange – A centralized exchange allows users to sell and buy cryptocurrencies with fiat money. Here the platform acts as a middleman between the seller and buyers. A prominent example here is Coinbase.
To use a centralized exchange like Coinbase, you only need to set up an account, deposit fiat currency, and start purchasing.
- Decentralized Exchange – In a decentralized exchange, no single entity is in charge of the assets. Instead, smart contracts and decentralized applications (dapps) automate trades and transactions. Two great examples here are PancakeSwap and Uniswap.
When using a decentralized exchange, you need to add assets to your Web3 wallet in the form of tokens or coins. From there, you can connect your Web3 wallet to the exchange and start purchasing the tokens you are interested in.
This is how easy it is to trade crypto, especially if you have a tool like Moralis aiding you in finding the right assets to buy!
However, why do traders fail to identify the right opportunities and make crypto gains?
The Three Pitfalls of Crypto Investing
There are mainly three challenges when it comes to investing in crypto:
- The Fear of Missing Out (FOMO) – Keeping emotions out of investment decisions is difficult. This is one reason why people fail in their crypto endeavors. Traders tend to FOMO into opportunities when a coin’s price peaks. Only to see their assets fall shortly after.
- Cryptocurrency Scams – The crypto market is, unfortunately, full of scams. This is another challenge for crypto investors; traders fall victim to exit scams, rug pulls, and other scams daily.
- Lack of Time – Trading crypto is generally a full-time job. As the market is highly volatile, most great opportunities come and go in a heartbeat. So, traders not full-time in crypto miss the most promising opportunities!
So, how can you avoid these three pitfalls?
The answer to your questions is Moralis!
Moralis – The Best Way to Trade Crypto
The crypto market is massive, and even though most have heard of Bitcoin and Ethereum, there are thousands and thousands of altcoins to choose from. This is why it is beneficial to have good trading tools for understanding the cryptocurrency market.
With Moralis, you can find powerful altcoins before the masses. What’s more, you can do so by tracking real-time, on-chain activity like never before.
Moralis is specially designed to combat the issues of FOMO, scams, and traders’ lack of time using the following features:
- Token Explorer – Finding the best crypto to invest in right now has never been easier. Track on-chain activity to find altcoins before everyone else. This means you’ll never again have to FOMO into buying a token.
- Token Shield – Protect yourself from cryptocurrency scams using the Token Shield feature. With Token Shield, you get a security evaluation of each coin. This can help your dodge coins prone to exit scams and rug pulls.
- Token Alerts – With the Token Alerts feature, you can set up notifications for your search queries. This means you get real-time email alerts when something of interest happens on-chain. As such, you’ll never again miss an opportunity, even if you aren’t full-time in crypto.
With these three features, you’ll be equipped to find the top crypto to buy right now. Moreover, this provides powerful analytical insights, meaning you can make accurate crypto predictions.
It will also allow you to analyze the market and answer questions like, why is crypto down today? Or when will crypto go back up?
Nevertheless, for more information on the Moralis features, join us in the next section as we show you how to use Token Explorer as you trade crypto!
How to Trade Crypto with Token Explorer
With Token Explorer, you can easily find tokens before they pump. But how does it work?
The premade filters are the most straightforward way of using the Token Explorer feature.
All you need to do is launch Token Explorer and select one of the alternatives:
However, the magic of Moralis is that you can combine various metrics to create custom filters. Let’s show you how it is done using a short example.
First, let’s add the Coin Age filter to only get tokens created within the past week:
Next, let’s click on ”Add Another Filter” and also apply the Experienced Buyers metric. By adding this filter and specifying ”Increased by at least” ten this week, we can find tokens gaining traction:
Finally, we can also add the Security Score metric to filter away potential scams:
This is just an example, and you can combine any metrics you want to create search queries matching your preferences. There are currently eight metrics available:
- Coin Age
- Security Score
- Fully Diluted Valuation
- Market Cap
- Liquidity
- Holders
- Buyers
- Experienced Buyers
The Moralis team is working hard every day on adding new metrics. This means you can expect new ones shortly, allowing you to set up even more precise custom filters!
Shield Yourself from Scams with Token Shield
The crypto market is, unfortunately, filled with bad-faith actors trying to scam you. With Token Shield, you can now protect yourself against potential cryptocurrency scams like never before!
When using Token Explorer, you’ll notice a shield symbol attached to each coin. This symbol contains a number which is a DEXT security score.
The max score is 99, and the lowest is one.
The DEXT score is a metric measuring the confidence of a project. It is algorithmically calculated using a number of factors. These include social information, pair liquidity, number of transactions, token holders, etc.
You also have the option to click on any of the shield symbols. Doing so takes you to the following page, where you can read more about the DEXT score and how it is calculated:
Also, we recommend combining the Token Shield feature with your own research. This is necessary as the DEXT score doesn’t measure the quality of the project.
To get more information about a project, you can click the link attached to each coin:
This takes you to DEXTools, where you can get more data regarding the token and project.
Our team of experienced developers is working hard on adding more security information. In the near future, the security information will 10x. As such, you’ll shortly be able to make even more informed decisions when trying to find the best crypto to buy right now!
Set Up Real-Time Notifications with Token Alerts
The last central feature is Token Alerts. With this feature, you can set up email notifications for all your saved search queries. In doing so, you’ll be alerted whenever something happens on-chain that matches your filters.
First, let’s show you how you can save queries that you set up using Token Explorer:
Once you have created a new custom search query, you can navigate to the ”Account” tab. There you’ll find your filters. To set up an alert, all you need to do is hit the bell button for your filters:
Once coins emerge matching your filters, you’ll receive a real-time email notification. This means you’ll never again miss an opportunity, and you don’t need to be full-time in crypto to do so!
Note: The Token Alerts feature hasn’t launched yet. However, the team is working hard daily on launching Token Alerts. This means you can expect this feature in the coming months. So, try Moralis now and immediately use Token Alerts once it launches!
Find Tokens Cross-Chain with Moralis
In the demos above, we have mainly focused on the Ethereum network. However, you should know that Moralis is cross-chain compatible!
The Moralis features are available across multiple chains, including Ethereum, Polygon, Binance, Arbitrum, Fantom, Optimism, and even more to come.
To change the network, all you need to do is select another chain using the drop-down menu at the top right:
Summary – How to Trade Crypto
If you’re new to the space, you might ask yourself, how do I trade crypto? Well, you can seamlessly trade crypto in three straightforward steps:
- Set up a Web3 wallet
- Choose a strategy and find appropriate assets
- Start buying crypto
The most challenging step is choosing the right assets. This is an effect of the crypto market size and common pitfalls like FOMO, scams, and a lack of time. However, the easiest way to avoid these issues is to use Moralis!
With Moralis Token Explorer, you can find tokens before anyone else and avoid FOMO. By using Token Shield, you can protect yourself from scams. Lastly, with Token Alerts, you can get real-time notifications when new opportunities arise.
Also, did you know that you can use Moralis for free? You don’t even need to connect your Web3 wallet if you don’t want to.
However, for professional traders, we recommend connecting your wallet. This gives you an opportunity to purchase the Pro plan. By going pro, you get more narrow timeframes for your queries (daily and hourly), can save more custom queries, collect more Moralis beans, and much more!
If you liked this tutorial, you should also check out our guides on how to find new crypto coins before everyone else or learn about MATIC crypto price predictions.
