Crypto Portfolio Tracker

Crypto Portfolio Tracker is an application or software used to track the performance of crypto assets within a portfolio. Its main purpose is to measure the performance of crypto portfolios frequently. It enables in-built access to the crypto wallet and exchanges.

The crypto portfolio tracker app provides in-depth reports and analysis. In addition, users can keep track of all digital assets in one place instead of on different platforms. Plus, they are transparent and easy to operate. However, constantly regularizing these crypto assets is vital for achieving the desired results.

The Crypto Portfolio Tracker allows individuals to watch all their digital assets in one place. Likewise, they might track the process and control the investments. Some of the top crypto portfolio trackers include CoinStats, Blockfolio, eToro, CoinTracker, and others.

Many crypto traders, especially beginners, store their crypto tokens using different platforms. However, as the asset count increases, it becomes challenging to look over them in the later stage. Therefore, like equities, there are crypto portfolio tracker apps that can club all assets on one platform. As a result, it becomes easy for investors to track the prices and performance of the assets. Most of the top crypto portfolio trackers provide equal or similar features. In recent times, virtual portfolio trackers have used no money to perform the same.

These stock and crypto portfolio trackers have various advantages. The primary benefit is that traders can determine the value of the digital assets owned. These assets include cryptocurrencies, Non-Fungible Tokens (NFT), and Decentralized Finance (DeFi). In addition, they can also track the performance of individual assets using charts and analytical tools. Plus, it provides crypto tax reports that can help in tax savings. It enables profit and loss statements to measure diversion. However, there are in-app purchases that might only suit some.

Following are the steps to track the digital assets owned. Let us look at them:

• Install an application from the web or Play Store.
• Connect the Cryptocurrency wallet to the platform. Some renowned wallets include Binance, Coinbase, Ethereum, and others. Individuals can also create or import their wallets.
• Likewise, they can track the price fluctuations in the coin or NFT. Traders can also analyze the current profit and loss to the purchased value. It helps determine the average yields of a coin.

Let us look at the examples of best crypto portfolio trackers to comprehend the concept better:

Example #1

Suppose Yudvik, primarily an equity market trader, diversified his investments by venturing into cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin. He also invested in NFTs, acquiring digital art from various creators. However, managing these diverse assets proved challenging, leading to difficulties in keeping track of their performance.

To streamline his investment management, Yudvik installed a stock and crypto portfolio tracker. This tool allowed him to effortlessly monitor the progress and performance of his crypto assets, providing a clear overview and helping him stay on top of his investments.

Example #2

Glassnode, a global leader in on-chain and market data intelligence, has acquired Accointing.com, a popular crypto tax and portfolio tracking platform. This acquisition enhances Glassnode's mission to create a comprehensive market and portfolio intelligence platform by integrating Accointing.com's advanced portfolio tracking and automated crypto tax compliance features. Users now benefit from a unified platform that offers a holistic view of their portfolios across wallets and exchanges, enabling them to optimize trades and maximize return on investment (ROI). The integration allows seamless access to both platforms with a single login, providing free portfolio tracking and tax reporting tools, including Accointing.com's Trading Tax Optimizer, which is especially valuable during the ongoing crypto bear market.

There are various factors to consider before choosing the right platform to track. Let us look at the methods on how to choose the best crypto portfolio trackers for better performance of crypto assets:

• Interface: Among the major factors, the interface or appearance of the platform plays a vital role in software selection. If the outlook of the app itself is not guidable, the user will not proceed to the other features. As a result, a constant shift will be noticeable. Thus, the trader's experience with the app matters a lot. It is only then that they will be inclined to use it.
• Compatibility: The app's compatibility is crucial for long-term use. Although the interface is good, failure to be a straightforward application can cause issues. For example, an easy login but complex terms and updates can irritate a user. Due to this, the crypto user might need help to operate it.
• Features: Features and design are equally important before choosing the right crypto portfolio tracker. A beginner might need help operating functions. For instance, a lack of a section for crypto news or portfolio reports can turn down an investor. Therefore, it is necessary to look at them. Likewise, no integration with renowned cryptocurrency platforms can have the same problem. It makes it problematic for traders to connect their wallets for easy tracking.
• Security: If the application has security risks, the amount invested can be lost. As a result, a tracker that can protect the portfolio from unwanted viruses is necessary.