What Is A Crypto Screener? Why You Need It?

What Is A Crypto Screener?

A cryptocurrency screener is a specialised tool that can assist you in sorting cryptocurrency investment prospects. You can utilise a crypto screener to define particular parameters for narrowing down and sorting among trades.

Crypto Screener Categories To Search

These are the most useful categories you can search by:

• Pricing
• Volatility
• Market capitalisation in total
• A daily trading volume average
• Price change in percentage during the previous 24 hours
• Charting patterns and structures 

Why Choose Crypto Instead Of A Bank?

Cryptocurrencies let users make safe payments and store funds without having to use their real names or go to a bank because of cryptos:

• dependence on decentralised technology,
• immediate settlement,
• use of blockchain technology, and
• ease of use.

All you need is a smart device and Internet access, and you can start making payments and money transfers right away. Although the banking system (and saving money in banks) has its advantages, it suffers from the following issues compared to investing in cryptos:

• fees that are excessive or hidden;
• checks and money are bounced;
• the most costly debits are charged first;
• loyalty is meaningless;
• problems with mortgages and loans;
• huge errors and mistakes;
• banks are not keeping their agreements.

Crypto Screener Advantages

Using a suitable cryptocurrency screener will help you improve your trade and narrow down your investment options. Let's look at some of the advantages of a crypto screener before you make a trade.

Crypto Screener Assists In Finding New Crypto Projects!

You can trade thousands of cryptocurrency projects, coins, and tokens on every major exchange. Every day, new projects are offered to the market. It's hard to manually filter through every currency and token accessible for trade on your assets, especially if you're a short-term investor who has to collect more information daily.

You can filter down investments using a crypto screener based on certain factors and entry points. For example, if you're a regular trader, you can check which projects display uncommon volatility on that current day to choose where and how you want to increase profits on your investment.

Crypto Screener Spots Charting Patterns Right Away!

You can use crypto screeners in addition to the standard price and volatility screeners to quickly discover coins and tokens. These screeners are generating charting patterns that could indicate an entry position. For example, you might search for investing possibilities with a MACD crossover or an SMA starting to trend upward. In this situation, a complete crypto screener with charting identification help could be time-efficient to identify the patterns that fit your trading strategy.

Crypto Screener Provides An Overview Of The Market!

A heatmap of crypto is provided by specific crypto screeners (such as the Yahoo Finance crypto screener) that displays how the whole market is going in a single look. Some cryptocurrency screeners may even let you personalise your tiles to show you how your most important assets have performed over the previous 24 hours.

It may bring considerable benefits for frequent cryptocurrency investors since an immediate overview of the market can help you determine which coins and tokens are undervalued and when is the best moment to come to market.

How Do Crypto Screeners Work?

If you've ever used a stock screener before, you're probably aware of how cryptocurrency screeners behave. Crypto screeners use Artificial Intelligence (AI) to streamline finding cryptocurrency trading possibilities. After you’ve specified the sorts of coins and tokens you would like to see; your crypto screener will scan the market and only show you crypto pairings that best meet your needs. It means you won't have to waste time scrolling through pages of hundreds of different coins and tokens to find your next trading opportunity or enterprise.

How To Use Crypto Screeners?

Your unique trading technique and the parameters supply suggested by the organisation that provides your screener will determine how you utilise your crypto screener. Consider the case of a long-term trader. In this case, you may use your cryptocurrency screener to filter assets based on their volume or overall market capitalisation increase over months or years. Assume you're a swing trader, scalper, or short-term trader. In such cases, you may look for cryptocurrencies available on exchanges with the lowest costs and strange volume or price action.

Things You Need Before Choosing The Best Screener

Before choosing the best screener for your requirements, don't be scared to invest some time improving your trading technique. Even the greatest Bitcoin screener won't find trade chances if it doesn't contain all of the scanning factors. Before you start searching and using demo profiles, knowing what you want will help you avoid paying for a screener that doesn't meet your trading needs.

Boost Your Trade Using A Crypto Screener

If you've ever used a screener, you'll already need to configure your search criteria before you can exploit your crypto screener to its full potential. Before you invest in a screening tool, you should spend some time watching the current market and use a crypto charting program. When it comes to choosing the suitable screener for your trading style and preferences, becoming more familiar with market volatility and how the coins and tokens you wish to trade often move would be fundamental. Cryptologi.st has facilitated this process for you by providing the hottest news, coin analyses, and many more.

Cryptologi.st Crypto Screener: All In One

Cryptologi.st has an all-in-one crypto screener that meets all your crypto needs. Providing real-time coin/ token analysis, Cryptologi.st considers the top five factors affecting your investment decisions. Cryptologi.st screener’s chart analysis is a visual display of data gathered from authentic sources all in one place. It scrutinises the coins’ liquidity, performance, popularity, ATH Delta, and Overdue ATH.

• Liquidity

It is easier to trade with a higher liquidity score. In bearish markets, coins with little liquidity are more difficult to sell. The liquidity analysis will tell you all about the liquidity score of the coins.

• Performance

The financial performance of each coin/ token is checked on authentic websites, including Coingecko, and the rating is reported based on several metrics.

• Popularity

It is the community score, which indicates how popular a coin is among its peers.

• ATH Delta

It is dependent on how far the price has dropped since its ATH (All-Time High). If the price drops by 40% in a bull market, it is considered a 100 per cent ATH Delta.

• Overdue ATH

It shows the time since the last ATH has passed. The maximum number of days in a bull market is 30, and projects with 30 days or more are suitable for a new ATH.

Conclusion

As you read here, you can filter cryptocurrencies based on different metrics, technical indicators, and timeframes with crypto screener tools. Apart from that, you can set alarms and store templates. Before using a crypto screener, you need to learn how to trade, what are the type of markets, and how the coins and tokens work. To do so, check out this surprisingly efficient tool at Cryptologi.st.