Milk Road’s Recommended Tools 2024

1. Bybit: Best Exchange for Traders

The Milk Man has 4 core principles:

1. Value investing > Trading 
2. Time in the market > Timing the market (unless you’ve got a crystal ball, then by all means).
3. Not your keys, not your crypto
4. Never grocery shop when you’re hungry—it’s how you end up with 10 bags of chips.

Narrowing down on our first principle, we don’t recommend that most people become active traders.

But let’s be real—some of you are definitely going to dabble in leverage trading.

That’s why we’re here to point you in the right direction, even if we don’t approve of your behavior (yes, I sound like my mom, I know).

If you want to mess around with leverage, then Bybit is for you. 

Whether you’re trading spot, perps or options, Bybit has you covered. 

The only downside is that Bybit isn’t available in the US, UK or any other countries listed here.

If you’re looking to trade perps onchain (aka with no geographic restrictions), head down to the dYdX section.

P.S. Don’t go haywire with leverage. 

Use a small portion (1-5%) to experiment and have fun responsibly. 😉 (wow, growing up really does turn you into your parents, huh?)

2. OKX: Best Exchange for Asian Investors

Asia is a massssive crypto hub. 

We might sit here in the US thinking crypto revolves around us, but nu-uh. Asia is leading the way. 

So, this one is for all our Asian readers. 

If you’re on the hunt for a centralized exchange, OKX is the way to go.

Why? Two simple reasons:

• Incredibly low fees (probably one of the lowest we’ve come across)
• Wide range of assets

3. dYdX: Best exchange for onchain trading

As the title suggests, dYdX is our go-to platform to trade perps and options onchain. 

Think of it as Bybit, but onchain—letting you play around with leverage while keeping full custody of your crypto.

The best part? We’ve cooked up a deal with dYdX for all Milk Road readers:

Step 1: Click on the hyperlink here
Step 2: Connect your wallet
Step 3: Place an order
Step 4: 👇

Yup. That’s right. You essentially get $550 in fee credits (aka trade without fees). 

But only using the link mentioned above. Or using the button below. Whichever one you fancy. 

3. Ledger: Best Wallet for storing your crypto safely

Alright, if you’re serious about crypto investing, then you’ve probably heard of Ledger. 

In case you haven’t, here’s a quick rundown: 

• If you say hardware wallet, Ledger is what pops into people’s minds (it’s that big)
• It’s been around for 10 years
• It’s trusted by 7 million users. Goddamn.  
• Ledger’s hardware wallets protect over 20% of global crypto. Yep, 20%. Wild. 🤯

If you haven’t joined the dots already, Ledger is the biggest name in the hardware wallet space. By a long shot. 

But why should you use a hardware wallet?

• Because Tyler (aka Old Man River) made some real gains last cycle before his wallet got hacked
• Chevy (aka Solana Maxi) held all his $SOL on FTX before it collapsed
• Martin (aka Dr. Pro) was the only one who came out ahead. Why? Because his crypto was safe in his Ledger. 

Making gains in the bull run is the easy part. 

But ensuring that you don’t get scammed, hacked, rugged or kicked in the butt from a shady link is the tough bit. 

The solution? Buy a ledger. 

Before we let you go onto our next recommend tool, here’s our last shill on Ledger:

A common misconception is that you can’t do much with your crypto once it’s on your hardware wallet. 

Nu-uh. With Ledger, none of that. 

Kyle (our head of research at PRO) doesn’t like the UX on the Ledger so he ends up connecting it to his Phantom Wallet instead. 

On his Phantom wallet, he can now use his crypto just like everybody else. 

Ledger is safe, secure and incredibly useful. Tbh, it’s a no-brainer. 

Get your Ledger here

4. Phantom: Best Wallet for all major blockchains

Go back up to the section with Bybit.

Read the Milk Man’s 4 core principles. Then come back here.

…

Done? I hope you did because this section won’t make much sense to you otherwise. 

Alright then, let’s focus back on point 2 for a second — Not your keys, not your crypto

We at Milk Road certainly believe that you should self-custody all your crypto. 

The best self-custodial wallet out there? Phantom Wallet. 

Why?

Because you can transact across the Bitcoin, Ethereum, Solana and Base networks through one single wallet. Bonkers. 

No complex bridging. No juggling multiple browser extensions. And live across all major networks. Absolutely wilddddd.

We’ve tried plenty of wallets (MetaMask, Coinbase Wallet, you name it), but Phantom is hands-down the easiest to use.

Rabby wallet comes a close second but heads up, it only works on EVM-compatible chains. 

Hate the UX on your current wallet? Download Phantom

New to crypto? Start with Phantom

5. CoinStats: Best Tool for portfolio tracking

Spoiler #1: I’m writing this without a shirt on

Spoiler #2: Coinstats is the only portfolio management tool you’ll need in crypto

Spoiler #3: Milk Road readers get 50% off on CoinStats Premium (only if you go annual)

If you’ve been in crypto for a while, you probably have a bunch of wallets that you use (and a bunch of wallets that are just chilling in the Bermuda Triangle – lost).

If you’re new to crypto, we’re sorry in advance. Managing wallets is painful but hey, at least we’re all suffering. 🙃

The best tool we’ve come across to manage all your crypto is CoinStats. 

With CoinStats you can track any wallet across 120+ blockchains. 

The best part? It’s not only limited to wallets. 

You can also link your centralized exchange accounts like Coinbase, Binance and Bybit and have a unified view of all your money. Like this 👇

Because we looove the CoinStats product, we reached out to them and asked if we could get some discount codes for our community.

Here’s what they could come up with:

Half-price on CoinSats Annual Premium Plan (not bad, eh? 😉)

But what exactly is in their Premium offer?

• Link 10 100 portfolios (let’s face it, we all have more than 10 wallets)
• Portfolio analysis so you can always make more Benjamins 💸
• 0% fees when you swap with CoinStats (yes, they have a trading interface as well)