Cryptocurrencies brought significant change to the financial world. Not only that, but they also introduced a new kind of technology – blockchain. Blockchain claims to be trustless, meaning not that you can’t trust it, but that you don’t have to trust anyone on the platform but the technology. It also claims to be more private and secure than similar competitors. However, with time people learned how to breach even this enhanced secured platform and today you may need additional help if you use blockchain. This is where the top blockchain analysis tools come in – to secure the already secured environment, providing users with the ultimate experience when it comes to their data. The tools are used for security, risk management, and crime detection. Here we’ll look at them and provide some examples of potentially useful blockchain analysis tools.

What Is Blockchain?

Let’s briefly explain what blockchain is and how it was created before we list the top blockchain analysis tools and what you should consider when choosing one of them.

In 2008 Satoshi Nakamoto introduced blockchain as the technology with which he created the first cryptocurrency, Bitcoin. How blockchain works are by storing information in cryptographically connected blocks. The blocks form a chain, each containing information about the previous one, and once the data on them is recorded, it can’t be changed without altering all the blocks on the chain. The participants on the blockchain are all equal, meaning no authority can influence the process of it. This has brought blockchain to gain popularity outside cryptocurrencies, as today many businesses start to incorporate it into their work processes, believing its security and transparency.

The top blockchain analysis tools are created to help people get the best out of this technology.

What Are Blockchain Analysis Tools?

Blockchain analysis tools are used to detect and prevent financial crimes. Those tools can be used by individuals, businesses, and financial institutions to manage the risk that comes with cryptocurrency transactions. Since they are so anonymous, crypto transactions have risen discourse in the past about how digital assets are used for money laundering or fraud. Using the top blockchain analysis tools, you’ll be able to track payment records, determining who is paying, what and when is it being paid, and more details, connected to KYC (know-your-customer) data. There are also tools that can confirm if a person or an institution you’re trading cryptocurrencies with is legitimate. Through blockchain analysis, you’ll be able to get information from the public records of blockchain transactions and use it to secure your experience with this technology.

What Are the Types of Top Blockchain Analysis Tools?

The top blockchain analysis tools serve different security purposes. The website Elliptic has created categories that will give you a general idea of what you can use the tools for.

Tools for Identifying Cryptocurrency-Relate Risk

Being able to identify potential risks with cryptocurrency transactions is essential for the safety of your assets. The top blockchain analysis tools in this category inspect datasets from the data trails of millions of blockchain assets. What these tools provide is the exposure of any risky crypto wallets and strengthening the KYC processes.

Tools for Cryptocurrency Safeguarding

Top blockchain analysis tools could help you determine if a cryptocurrency is legitimate. This is done by screening wallets before the transactions are made and even blocking transactions coming from risky wallets, to prevent criminal activity.

Tools for Monitoring and Compliance

There are analysis tools that screen crypto transactions in real-time and also predict risks prior to transactions being added to the blockchain. This contributes to the transparency of blockchain, by determining the origin and destination of cryptocurrencies.

Predictive Crypto Analysis Tools

Predictive tools determine if a digital wallet is risky even before the transaction is made. This allows for the quick reaction of parties to determine if a transaction is secure or legit. The top blockchain analysis tools in this category scan the unconfirmed transaction area for new transactions to conclude if it’s safe or unsafe.

Image digital graphic illustrating blocks that symbolize blockchain technology

What Can Influence You When Choosing the Top Blockchain Analysis Tools?

The biggest thing you should consider when picking the top blockchain analysis tools is exactly what you’re looking for in a tool. We list certain things these tools do and from them, you can search for the tools that fit your need for blockchain security.

  • Cryptocurrency risk management
  • Fraud protection
  • Prevention of money laundering
  • Criminal activity detection
  • Establishment of crypto compliance, based on the regulations in different countries

Knowing what the top blockchain analysis tools can do for you, you can consider it and pick the ones you need or think may be useful for you.

The Best 10 Top Blockchain Analysis Tools

Having gone over the categories of the top blockchain analysis tools and what things they can do, we now provide 10 tools that you can check out if you want to find security enhancement. The list includes tools with different purposes, providing you the opportunity to find the tool for your needs.

  1. Chainalysis
  2. Elliptic
  3. Uppsala Security
  4. WalletExplorer
  5. BitConeView
  6. TRM Labs
  7. Matbea
  8. AnChain.AI
  9. Crystal Blockchain
  10. CipherTrace


Chainalysis is a top blockchain analysis tool used by institutions like banks, governments, and crypto businesses to identify and stop criminals who are using digital assets for money laundering or other illegal activities. The tool monitors transactions and assesses risk.


Elliptic provides its users protection from fraud by informing them who is behind each wallet address and the money flow in the wallets. This is a top blockchain analysis tool for big cryptocurrency exchanges and banks around the world.

Uppsala Security

Uppsala Security provides risk management by classifying the risk levels of crypto addresses and tracking incoming and outgoing transactions in the wallets. It can be determined as one of the top blockchain analysis tools when it comes to security.


WalletExplorer is an open-source blockchain analysis tool, created for the Bitcoin network. It works by monitoring and displaying activities within the network. The tool also merges addresses together if it concludes they are part of the same wallet.


BitConeView is a top blockchain analysis tool created specifically for Bitcoin, as it examines the Bitcoin flows by visualizing the block. It also provides graphical tracking of the bitcoin spending over a time period which helps to identify patterns in it.

TRM Labs

TRM Labs provides visualization of transactions and blockchain money flow along with monitoring of irregular patterns and wallets for fraud prevention. This top blockchain analysis tool is created to assist financial institutions with preventing fraud and cryptocurrency money laundering.


Matbea is an open-source tool that allows users to establish the belonging of Bitcoin addresses. People can use it to find information about transactions, addresses, extended public keys, or blocks.


AnChain.AI is a top blockchain analysis tool, powered by AI. The service it provides includes real-world identity information for blockchain addresses and analysis of the risk for crypto transactions.

Crystal Blockchain

Small businesses can benefit from the tool Crystal Blockchain. It provides monitoring for high-volume transactions. With the services it provides for exchanges and trading platforms, it also offers extended features for banks and bigger financial institutions.


CipherTrace helps with risk monitoring and compliance. The tool detects money laundering activites and helps crypto businesses to follow the regulations and laws. It also offers a visualization option for investigating crypto transactions.

Image of a laptop. The screen says blockchain and has various icons connected to the technology around it.

Can You Build Your Own Top Blockchain Analysis Tools?

You can build your own blockchain analysis tools if you have the knowledge or are willing to learn. The site of Cambridge Intelligence made a list of 9 techniques you can use to make your own tool for blockchain analysis. You can check the original source here. If you just want to get the idea, though, here’s the article summarized.

  • First, your blockchain analysis needs to have these 3 things: address classification, transaction risk scoring, and investigation
  • The graphic visualization for your tool should include:
  1. Integrate time and graph views
  2. Easy way to filter data
  3. Automated layouts
  4. An easy grouping of addresses manually
  5. Custom styling
  6. User-driven exploration
  7. Smooth animation
  8. Easy intelligence dissemination
  9. Powerful graphic rendering

The guide the experts can create may serve you as a starting point to creating your own tool.

Would You Try Out the Top Blockchain Analysis Tools?

Now that we’ve described what blockchain analysis tools serve for and what are some of the top ones, you know that even this technology isn’t as anonymous or secured as it claims to be. You can take advantage of the tools companies have created to enhance your safety with cryptocurrencies, whether you’re an exchange, an institution, or even a trader. There are top blockchain analysis tools created for the needs of all kinds of people who partake in the decentralized world. Consider them if you want to use the safe blockchain technology even safer.

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