Crypto trading is a personal style. We have our own ways and techniques on how to earn and have a good portfolio. 

But thankfully, there are tools now that can help us maximize crypto profits or find the next crypto gem. What are those? 

This guide will focus on finding gems in decentralized exchanges.

Before we proceed, here’s a reminder from BitPinas!

Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions. BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

Sniper Bots

Sniper bots are automated tools that are designed to execute transactions quickly according to the market conditions set by the user. 

Basically, sniper bots operate as an automatic trading tool that automatically decides to buy low and sell high the specific crypto chosen by the user. This brings benefits to users, as trading bots help them execute a trade when the parameters set are met, even if they are sleeping or AFK. 

Maestro Sniper Bot

Maestro Sniper Bot (https://www.maestrobots.com/) is a Telegram sniper bot. It supports Ethereum, Arbitrum, and BSC-based tokens. 

“Through our revolutionary multi-chain (BSC + ETH) sniper bot, smooth wallet tracker, and proactive whale bot, our vision is to create an ecosystem that satisfies crypto enthusiast needs directly on Telegram, the flagship crypto platform,” its website read. 

To start using Maestro Sniper Bot: 

Step 1: On Telegram, search the Maestro Sniper Bot username or go to https://t.me/MaestroSniperBot.

Step 2: Type /sniper.

Step 3: Choose the “Wallets” button.

Step 4: Choose one of three chains: BSC, ETH, Arbitrum, and two pseudo-chains: BEP-20 SURGE and ERC-20 SURGE.

Step 5: Wait for the bot to create your own wallet, or you can connect an old wallet. 

Step 6: After a wallet has been generated, import the private key to TW, Metamask, or your preferred wallet so you can access your funds outside the sniper.

Step 7: Deposit funds to your wallet, either $BNB or $ETH. 

Sol Trading Bot

Sol Trading Bot (https://soltradingbot.com/) is another Telegram sniper bot. Unlike Maestro, it only supports Solana-based tokens. 

“In the dynamic landscape of decentralized finance (DeFi) on the Solana network, the need for advanced trading solutions has never been more pronounced. Enter SolTradingBot, a groundbreaking platform designed to redefine the way we navigate and execute trades in the decentralized marketplace,” its whitepaper read. 

To start using Sol Trading Bot: 

Step 1: On Telegram, search the Sol Trading Bot username or go to https://t.me/SolanaTradingBot.

Step 2: Type /start.

Step 3: Choose the “Wallet” button.

Step 4: Choose the “Generate New Wallet” button for the bot to create a new wallet for you. Or choose the “Add Wallet” button to import an old Solana wallet. 

Step 5: For the creation of a new wallet, wait for the bot to give the seed phrase.

On-Chain Analytics

On-chain analytics are platforms that use available information to determine market sentiment. This involves looking at transaction data and crypto wallet balances, which could be useful to traders when trying to decide whether to open or close a position.

Basically, these platforms provide insights into transaction patterns, network health, tokenomics, and the overall behavior and trends within the market. But unlike sniper bots, on-chain analytics will just show the data, and the decision will depend on the traders themselves. 

DEX Screener

DEX Screener (https://dexscreener.com/) allows users to filter through a variety of assets across decentralized exchanges (DEXs) to find the best prices and trading pairs. It reports to track data for over 20,000 tokens across networks like Ethereum, Avalanche, Moonbeam, Osmosis, Optimism, and Boba Network. DEX Screener is free to use.

Birdeye

Birdeye (https://birdeye.so/) is a blockchain data aggregator that is specifically developed for crypto traders. According to the team, their goal is to assist traders in their “investment deliberations through the provisioning of data-centric market analysis tools sourced from Birdeye and its affiliated partners.”

It offers token information, trader profiles, a filter for tokens with the potential to boom, a feature for blockchain transaction tracking, and a price bot. 

Decentralized Exchanges

DEXs are crypto exchanges that do not have a central entity controlling them. This means that users 100% own their funds that are stored in a non-custodial crypto wallet (like MetaMask) because they are the ones who will keep the keys. 

Most DEXs use an automated market maker (AMM) model. It is because it offers higher liquidity compared to an Order Book model, which centralized exchanges use. Because of being decentralized, these exchanges do not need intermediaries, meaning, most transactions and trades are done through peer-to-peer. Which also reduces the transaction fees.

DEXs normally also offer more real prices because of liquidity pools, thus, helping traders to enjoy more profit. 

BitPinas has already listed the five popular DEXs in the space, but others are: 

SushiSwap

SushiSwap is a DEX that has its own smart contracts. It was developed by a group of developers with the pseudonym name of Chef Nomi and is built on the Ethereum blockchain. It supports more than 30 blockchains. 

“Sushi is a community-driven organization built to solve what might be called the “liquidity problem.” One could define this problem as the inability of disparate forms of liquidity to connect with markets in a decentralized way, and vice versa,” the team wrote. 

“While other solutions provide incrementally progressive advances toward solving the problem of liquidity, Sushi’s progress is intended to create a broader range of network effects. Rather than limiting itself to a single solution, Sushi intertwines many decentralized markets and instruments.”

Trader Joe XYZ

Trader Joe XYZ (https://traderjoexyz.com/) is based on Liquidity Book, a novel AMM protocol.

Some of its features include:

• Zero Slippage: Traders can swap tokens with zero slippage within bins.
• Surge Pricing: Liquidity Providers earn additional dynamic fees during high market volatility.
• High Capital Efficiency: Liquidity Book can support high volume trading with low liquidity requirements.
• Flexible Liquidity: Liquidity Providers can build flexible liquidity distributions according to their strategy.

Meanwhile, aside from crypto trading, it also offers yield farming, staking, lending and borrowing, and an NFT marketplace. Trader Joe is also known for having advanced crypto trading features, such as leveraged trading and P2P services. 

These are platforms, DAOs, and communities that analyze blockchain and crypto transactions. 

Basically, they inform users of important and interesting transactions, including whale, or those who hold a significantly big amount of token, movements.

They also keep track of new contracts made, important changes on a network, or even an abnormal activity or token transaction that will surely affect a token’s price. 

CyclopAlpha

CyclopAlpha (https://twitter.com/CyclopAlpha) is a community that focuses on crypto trading mentorship, altcoins and NFT calls, and industry updates. 

It has a Discord channel that hows calls on low-cap tokens and delivers alpha information about airdrops, NFTs, and altcoins. 

D.BUYBOT

D.BUYBOT (https://t.co/M74Bx6LDk0) is a Telegram bot that focuses on token purchase monitoring. It connects the owner to their project’s Telegram.

Basically, it notifies users about projects that enter SOL trading.  

Closing Thoughts

Sniper bots, on-chain analytics, DEXs, and trackers are just a few tools to make crypto trading easier and crypto earning better. 

This marks the beginning of our detailed series on how to maximize crypto profit through these tools. 

However, it should be noted that before starting crypto trading, it should be noted to always DYOR and practice due diligence. The crypto market is volatile, every day is not Christmas day, thus, being alert and open-minded is a must. 

This article is published on BitPinas: Going Degen: The 8 Essential Tools To Spot The Next Crypto Gem

Disclaimer:

• Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
• BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

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