The 10 Best Free DeFi Tools
Decentralized finance (DeFi) has been a game changer in the world of finance and investments, offering a new and innovative way to manage and grow financial assets without the need for centralized intermediaries. With the rapid growth of the DeFi ecosystem, the number of tools and platforms available to users has also increased significantly, making it easier than ever to get started in this exciting new space. Whether you’re an experienced investor looking to take advantage of DeFi’s potential, or a newcomer looking to explore this innovative new landscape, there are various free tools available to help you achieve your goals.
In this blog post, we’ll be taking a deep dive into the world of DeFi and exploring some of the best free tools available to help you make the most of this exciting new opportunity. From portfolio management platforms to yield farming tools and DeFi news aggregators, we’ll be highlighting the most useful and accessible free tools available to users today. Whether you’re looking to trade tokens, earn interest on your assets, or simply stay up to date with the latest developments in DeFi, these tools are sure to be a valuable resource for you.
I’ll show you which tools I use, and in a way you can follow along to optimize your results.
If you’ve never even started with DeFi the first step is getting a wallet so you can interact with the variety of Dapps and protocols. Metamask is the leading non-custodial wallet out there, and is easy to use. You can download it as a browser extension and get started in the DeFi ecosystem!
After you have installed the plugin you can create a new wallet. Metamask has an easy integration with most dapps and works with a wide variety of chains.
You can easily handle multiple accounts and portfolios. A must have!
MetaMask is built on the Ethereum blockchain, which is the most popular blockchain platform for decentralized applications. The wallet supports all of the popular Ethereum-based cryptocurrencies, such as Ether (ETH), as well as other assets built on the Ethereum network, such as ERC-20 tokens.
One of the key advantages of MetaMask is its ease of use. Setting up a wallet is quick and straightforward, and users can begin making transactions and interacting with dApps with minimal hassle. The user interface is well-designed and intuitive, making it easy for even non-technical users to manage their digital assets. Additionally, MetaMask has a robust security architecture, including seed phrases, encrypted private keys, and biometric authentication options, which help ensure the safety of users’ assets.
Another advantage of MetaMask is its integration with decentralized applications. MetaMask acts as a bridge between the user’s digital wallet and the decentralized application, making it easy to interact with dApps and manage transactions directly from the browser. This eliminates the need for users to manage multiple wallets and passwords, as they can access all of their assets and transactions from one central location.
After setting up your wallet the next step is to get market information.
DeFiLlama is my go-to source for everything decentralized finance. Their Dashboard gives you all the information you need to check a particular Dapp or Chain. The TVL, Historical information, and much more.
DefiLlama is a DeFi yield farming aggregator that provides users with a platform to search, compare and invest in various yield farming opportunities across different DeFi protocols. DefiLlama aims to make yield farming accessible to users of all skill levels, allowing them to easily invest in DeFi protocols with the highest yields and rewards.
Some of the key features of DefiLlama include:
Yield Farming Opportunities: DefiLlama provides users with a comprehensive list of yield farming opportunities across different DeFi protocols, including liquidity pools, staking, and more.
Investment Analytics: DefiLlama provides users with real-time investment analytics, including yield and risk metrics, making it easier for users to compare different yield farming opportunities and make informed investment decisions.
Investment Portfolio Management: DefiLlama provides users with an easy-to-use portfolio management system, allowing them to track their investments and performance over time.
Before making any moves in the DeFi world, check out this free Defi Tool!
After finding a promising project it’s time to find the best DeFi opportunities.
By now, almost all projects are working interoperably and that makes it difficult to navigate the DeFi space. Even worse, the yields that you can get also fluctuate daily. It’s an extreme hassle and time-consuming to keep up to date with all the possibilities
Nanoly has all the information on the current APY of close to all opportunities out there.
They offer the ability to search LP stakes, singles stakes, no impermanent loss pools, and stable coin pools.
You can also filter vaults by specific coins, APY rate, and TVL over or under $1 Million. On top of that they even have an alert feature!
Another critical free tool for you to optimize your results.
So, you’ve found a project you want to invest in and you’ve found the perfect DeFi opportunity. Time to buy right?
Not so fast Jimmy, first let’s make sure that we’re buying at an opportune moment.
Most well-known tokens are available on Centralised exchanges such as Binance, but we’re seeing more and more projects not go the decentralized way but using DeFi. In the past, it was difficult to find charts with price history but Dexscreener comes to the rescue!
One of the key advantages of DexScreener is its ability to aggregate information from multiple decentralized exchanges, making it easier for users to find the best deals on tokens and assets. It provides real-time pricing information and order book depth for all of the popular DeFi assets, making it easier for users to make informed investment decisions. Additionally, DexScreener offers a portfolio tracking tool, allowing users to keep a close eye on their investments in real-time, and stay up-to-date on market trends and changes in asset prices.
Besides that, DexScreener also provides a number of advanced trading tools and analysis features that are not typically found on centralized exchanges. For example, it offers advanced charting and analysis tools that help traders make informed investment decisions. Additionally, it provides a suite of risk management tools, such as stop-loss orders, which help users minimize their exposure to risk.
After checking Dexscreener, you might be tempted to dive in, but I’d like to suggest checking some extra information before doing so. First off, Coinmarketcal.
CoinMarketCal is a cryptocurrency calendar platform that provides real-time updates and information on upcoming events, news, and developments in the cryptocurrency space. It is designed to help traders and investors stay informed and make informed investment decisions by providing a comprehensive view of the cryptocurrency market.
One of the key advantages of CoinMarketCal is its comprehensive coverage of the cryptocurrency market. The platform tracks upcoming events and news for thousands of cryptocurrencies, including both established and emerging projects. This makes it an essential tool for anyone looking to stay up-to-date on the latest trends and developments in the cryptocurrency space.
When you’re sure noting major is happening or you want to position yourself before that happens, it’s also a good idea to check what’s happening socially around your project. for this we’ll use Lunarcrush.
LunarCrush is a cryptocurrency and blockchain data analytics platform that provides in-depth market insights and analytics for the digital asset ecosystem. It is designed to help traders, investors, and institutions make informed investment decisions by providing real-time market data and analysis.
Lunarcrush provides social media sentiment analysis, which provides a view into how the market is reacting to specific events and news. You may think you found the next 100x opportunity but if no one knows about it, or talks about it, that’s going to be difficult.
It’s not the most important aspect but it can certainly help you make a better-informed decision!
So after using all these tools, you’re ready to buy your assets and put them to work. It’s important to keep an eye on your investments and for that we’ll use the next two tools.
There are a lot of moving parts when you’re using DeFi. APY.vision makes all these parts transparent for you.
APY.vision is a DeFi analytics manager that helps users to track their transactions on DeFi platforms.
APY.vision helps by showing:
– liquidity providing performance and impermanent losses across chains and AMMs.
– Manage your liquidity pools and track impermanent losses for more accurate profit calculation.
–Monitor your vault and farming activities, and calculate your net profits
– Track your yield farming activities and automatically calculate your farming rewards.
– Analyse pools historic APYs and find the best liquidity pools before everyone
Discover the best liquidity pools before anyone else. Compare pool performance by APY, impermanent loss, and collected fees.
A great free DeFi tool to stay informed on your defi strategy!
DeBank is a DeFi dashboard. You can use it to track your portfolio, access data and analytics for decentralized lending protocols, stablecoins, margin trading platforms and DEXes.
Currently it tracks almost 1800 protocols along 44 different chains, so I’m pretty sure it will have information on your holdings.
The dashboard shows you your current holdings, NFT’s, staked positions and your history. It’s user-friendliness is apparent.
It also has information on protocols, TVL, and the distribution among different DeFi use cases. Debank allows you to bundle multiple addresses for a complete overview, so Debank is also an excellent tool if you use multiple accounts!
It’s my go-to dashboard for my DeFi holdings.
If you start using these tools regularly, I’m sure that you are well on your way to understanding DeFi and optimizing your results and yields!
As an extra, and for those interested, I’ve also included two sites that can give you a lot of information about everything DeFi.
Defiprime.com has a wide range of curated Defi projects filtered by their niche. However, what I e enjoy the most is their weekly bite-sized blog posts. It’s a good source of information to stay up to date with everything that’s going on in DeFi world.
The second one is:
The Defiant has grown into a household name in the DeFi space. Besides having an awesome name The Defiant stands out with its plethora of free news articles, podcasts, tutorials, videos and more.
Bookmark their site to stay up to date with everything Defi!
And as a final extra:
Tools for Crypto
I’m here to share my most used DeFi tools, but if you’re looking for something specific or in you want to know about all the latest defitools, be sure to check out toolsforcrypto.com. They have basically all the tools available, and they keep adding new ones daily!
In conclusion, the world of DeFi is constantly evolving and growing, offering new and innovative ways for people to manage and grow their financial assets. Whether you’re looking to trade tokens, earn interest on your investments, or simply stay up to date with the latest developments in the DeFi ecosystem, there are a wealth of free tools available to help you achieve your goals. From mobile wallets and portfolio management platforms, to yield farming tools and DeFi news aggregators, these free DeFi tools offer a great starting point for anyone looking to get involved in this exciting new space.
So, if you’re ready to take advantage of the opportunities offered by DeFi, be sure to check out some of the best free DeFi tools available today. Whether you’re an experienced investor or just starting out, these tools are sure to help you make the most of this exciting new opportunity. Thanks for reading and we hope you found this blog post helpful!