Investors who have amassed a lot of holdings in cryptocurrency need to keep track of their investments. Over the years, it has proved time-consuming to manually check multiple cryptocurrency prices as well as work out the value of the overall portfolio on a regular basis. The solution is finally here in the form of crypto portfolio trackers – a handy application which keeps a watch over your entire crypto investments. It does not matter if you are new or old in the crypto world, it is a top priority to always keep your crypto investments constantly tracked and managed.
As an investor starts to transact in multiple virtual currencies, the need for convenient information and constant updating becomes even more imperative. The likelihood of acquiring some crypto coins on one exchange and still go on to acquire other altcoins or cryptocurrencies on another is very probable. Therefore as your portfolio grows, having a centralized place where you can conveniently monitor the performances of your crypto investments can no longer be overlooked.
When it comes to making a choice of which crypto tracker to select, many options to abound – from mobile to web-based crypto portfolio apps. Join us as we explore the benefits and features of using a Cryptocurrency Portfolio Tracker.
What is a Cryptocurrency Tracker App?
In a nutshell, a cryptocurrency tracker is simply software that aids crypto investors in tracking changes in crypto coin. They come in the form of apps created to assist both full time and seasonal crypto traders as well as investors in effectively managing and monitoring their portfolio. There are many trackers which can do more than just keeping track of prices. Most modern ones perform other actions like informing you when your portfolio is losing or earning profit by sending out prompt alerts.
Many cryptocurrency portfolio trackers have hit the market in recent times. While some have uncomplicated designs and speedy, intuitive interfaces others come equipped with more complex features like some detailed technical charts and CSV imports. In spite of all their differences, all crypto tracker have one common goal, to make the life of crypto investors a whole lot easier.
Benefits of Using a Crypto Tracker App
It may be true that cryptocurrency portfolio management was not the first thing that came to your mind after acquiring your first virtual currency; however, it is an important part of the journey. It is comparable to the way your briefcase or handbags are necessary to your daily working life, your portfolio tracker is the obvious place to look for all the vital data on your crypto investment. The benefits are just too numerous:
Order
It brings some order into your crypto portfolio by preventing your data from becoming disorganized and maybe spread over to other exchanges. This organizational function can prevent your crypto portfolio from losing funds. This particular function comes to play for investors with a selection of smaller, long-term holdings. You may believe it to be highly unlikely but as you move deep into the markets, many of these smaller-long-held holdings can slip off your mind if you don’t use a portfolio tracker.
Knowledge
A portfolio management tool equips investors with the ability to keep track of all their holdings. What this means is that you can leverage a number of graphs and charts to get the analysis of certain trends and data changes. This analysis can come in handy in your investment decisions, and in due course, maximize the potential of your crypto investment.
Balance
When you use a portfolio tracker, you will be opportune to see which cryptocurrency investment carry the heavyweight and which is lighter. This feature gives you the chance to better balance your holdings if need be. This function is considered as an essential aspect of risk-management and you will not be able to achieve this without the use of a portfolio manager.
Convenience
Convenience is one of the major benefits you get from using a crypto portfolio manager. You will no longer need to individually log into each exchange or wallet with complex authentication processes each time you need to have access to your holdings. Now you can leverage on the user-friendly features of crypto Portfolio Tracker to access all the pertinent information as the need arises – it is just a click or a touch away. You will never be out of reach again, not even for a single moment, all thanks to Cryptocurrency Portfolio Tracker.
The Features They Offer
Three key features offered by cryptocurrency portfolio trackers include:
1. Privacy
Cryptocurrency Portfolio Tracker enhances person-to-person privacy with its password protection which can be easily enabled at any time. Moreover, it has a feature which can be used to conceal your crypto balance. In further explanations, you are at liberty to show off your app to other people without publicizing your financial position. What happens is that your current financial figure will show as a percentage which is an indication of the number of investments you have in different cryptocurrencies with the actual monetary value well protected. In addition, you get the services free of charge, also you won’t have to entertain the fear of transmission of any your private financial information like banking information or credit card. Investors who use a Cryptocurrency Portfolio Tracker are very close to being completely risk-free.
2. Customizable Price Alerts
Cryptocurrency Portfolio Tracker has this special feature that triggers alert anytime the price of any cryptocurrency gets to a certain threshold. Investors will never be ignorant of the happenings in the crypto world when they acquire a personal crypto portfolio tracker. The tracker is also designed to aid in discovering some trading trends you might have otherwise missed – it only needs to dig deeper.
It is important to note that it is not all available cryptocurrency exchanges that allow users to access comprehensive technical charts. These charts can come in handy when there is a need to predict how the market is likely to swing. If your cryptocurrency exchange is the type that does not come equipped with adequate technical charts, you can as well leverage on a cryptocurrency portfolio tracker that has the feature in order to make up for the deficiency.
3. Cross-platform Syncing
Many portfolio trackers support many platforms like desktops, web as well as mobile. What happens is that they are equipped with data sync features which allow you to view your portfolio data across multiple devices.
