How to Track Your Cryptocurrency Portfolio
A cryptocurrency portfolio tracker allows you to keep track of the value of your cryptocurrency investments. There are many benefits of tracking your portfolio which include; Knowing how your investment is doing-By tracking your portfolio you will be able to see how your investment is performing. This allows you to make informed decisions on when to buy or sell.
Digital currencies have numerous benefits to investors, and also at the same time, they might leave investors heartbroken if they don’t know how to keep track of their investments.
There are different ways you can use it to track your cryptocurrency portfolio. This article will show you how to use a coin price tracker for tracking portfolios of digital assets, what factors should be considered when choosing a tracker, and the reasons why tracking is important.
Why does one need cryptocurrency portfolio management software?
There are now thousands of distinct cryptocurrencies thanks to the growing popularity of Bitcoin and other cryptocurrencies. The value of each cryptocurrency is always changing and traders need to constantly monitor the value of their portfolio in order to be successful.
A cryptocurrency portfolio manager is software that allows you to track the value of your cryptocurrencies. It can either be a simple Excel sheet or a more advanced software that is connected to exchanges and allows you to automatically trade your cryptocurrencies.
The more volatile assets, like crypto, you have in your portfolio, the more time you’ll need to spend managing them.
Review of Crypto Portfolio Tracker Apps
Different crypto portfolio tracker apps have unique features that make them stand out and also differ in working from each other. Most crypto portfolio apps allow the investors to add wallets and exchanges that they use for their investments regardless of the host blockchain. Hence, the investor can know the value of the cryptocurrency holdings in real-time.
The apps also give an overview of the entire portfolio and some of them provide more details such as ROI, profit/loss in each transaction, etc. Some tracker apps also come with a news section that keeps investors updated about the latest happenings in the digital currency space.
There are many cryptocurrency portfolio tracking apps available in the market, and it can be quite confusing for an investor to choose the best one. This is where we come in, we have reviewed some of the best crypto portfolio tracker apps and listed them below.
Best crypto portfolio tracker apps
Here is a list of the best crypto portfolio tracking apps that you can use to track your digital currency investments. These apps provide investors with the vital information they need to monitor their portfolios and make informed decisions. The following are the best crypto portfolio tracker apps:
CoinStats is a popular cryptocurrency portfolio tracker app that is available on both iOS and Android devices. The app has a user-friendly interface, and it is very easy to use. It allows investors to track more than 8000 digital assets including popular ones such as Bitcoin (BTC), Ethereum (ETH), Litecoin(LTC), etc.
The app provides crypto users with personalized crypto news, analytics, and the power to manage their portfolios on desktop and mobile devices. The app also has a feature that allows investors to set up price alerts for their favorite digital currencies. This is a great way to keep track of your investments and make sure you don’t miss any important events. CoinStats allows you to have multiple wallets and exchange accounts by using API keys. CoinStats provides vital information at your fingertips to assist you to make easier investment decisions once it is set up.
If you’re just getting into the cryptocurrency world, CoinTracker is one of the best software options out there, and it even has a free tier for beginners. This can be used for 25 transactions without any fees.
This platform tracks the portfolio of the investor and provides a clear profit/loss calculation. CoinTracker supports 300+ exchanges and over 10K cryptocurrencies. API key or CSV upload can be used to import transactions from the exchange.
The Crypto App
The Crypto App is a popular smartphone-only crypto portfolio tracker and news aggregator that has consistently high ratings. This app supports top exchanges and native blockchain wallets. Although most users praise its widgets which let the users stay informed from the home screen after opening the application.
What to consider when choosing a crypto portfolio tracker
Unfortunately not all crypto portfolio trackers are equally useful and secure. Hence, it is important for investors to consider certain factors before choosing a crypto tracker. Some of the things that you need to consider include:
Security and Safety
The blockchain’s decentralization makes Bitcoin and other cryptocurrencies virtually impossible to follow. It’s also very difficult to determine who owns which wallet — and once a cryptocurrency transaction has been initiated, it’s virtually impossible to get that money back.
Portfolio trackers must be cautious not to accept any unauthorized individuals that might use them to access user logins for a number of financial institutions.
A well-organized layout
One of the reasons for a cryptocurrency portfolio is to view your asset and see how the value of the asset is moving. This is important as it can help you decide when to buy or sell.
A good portfolio tracker will have a well-designed and organized interface that makes it easy for users to see their assets, how much they’re worth, and how those values have changed over time. The portfolio tracker should be able to give the user an accurate representation of their investment. The tracker should be updated in real-time so that the user can see how the value of their assets are changing.
A wide range of available coins and exchanges
A crypto portfolio tracker should be a one-stop shop for all of your cryptocurrency investments. Look for a crypto portfolio tracker that allows you to connect with all of your coins and exchanges.
Investors should take a look at the platform’s coin offerings before signing up for an account if you’re looking for a tracker and exchange combination. This allows you to trade all the coins you wish without having to deal with numerous exchanges and memorize passwords.
A Crypto portfolio tracker can be very useful for cryptocurrency investors. It can help them to stay informed about their investments, make better investment decisions and even find new opportunities. However, it is important to choose a tracker that is secure and has a good reputation. In addition, the tracker should have a well-organized interface and support a wide range of coins and exchanges.
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