Sunday, July 3, 2022

How To Keep Track Of Your Crypto Portfolio

Why You Can Trust Our Picks

Keep track of your crypto portfolio with Blockfolio

Cryptocurrency portfolio trackers are a relatively new application but have advanced considerably over the last five years. They are truly crucial for staying on top of cryptocurrency investments with many users favouring multiple exchanges and, for security reasons, distributing funds between multiple wallets.

The methodology for choosing our best portfolio trackers is unbiased and fair, primarily revolving around user experience, connectivity and security. A tracker should be straightforward to use, offer a wide range of cryptocurrencies and connections, and be extremely secure.

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But Finder may receive compensation when you click links on our site. Learn more about how we make money from our partners and why you can trust our guides.

So Why Use A Tracking App

Investors and traders have created many ways to track the markets app like Blockfolio has taken years of trial and error and created a seamless platform to watch, plan, and execute your next trade.

Wendys Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything written or discussed in connection to cryptocurrencies regardless of the subject matters content may represent a potential conflict of interest. I wish to remain transparent and impartial to the cryptocurrency community at all times, and therefore, the content of my media are intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.

How To Track Your Cryptocurrency Portfolio: Criteria For Choosing The Best Tool For The Job

The biggest problem in the cryptocurrency portfolio tracking world today is that there are just too many of them on the market â all of which are vying for your attention without really explaining which of their features actually make them a good fit for the job.

Thatâs why, in this section, weâre going to give you the key criteria against which to compare your options when youâre searching for your cryptocurrency portfolio tracker.

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The 5 Best Crypto Portfolio Trackers

Over the past few years a huge number of new crypto platforms offering various services have exploded onto the scene. With all of these new exchanges, DeFi tools, wallets, and services, portfolio trackers that can keep track of your assets across all of your various platforms have become more and more in demand. In this guide, weâll walk through the best crypto portfolio trackers and apps available on the market today.

A Clean And Clear Layout

How to Track Your Crypto Portfolio using Blockfolio ...

The purpose of having a portfolio is to quickly view all of your assets and see how the value of your portfolio changes. A good portfolio tracker shows you the total value of your portfolio on its front page or with 1 or 2 clicks.

Your tracker should be simple to operate and understand, and you shouldnt struggle to find the value of each individual coin in your portfolio. Look for a tracker with a crisp, clean layout that you enjoy looking at and using. This will save you time, stress and eye strain when using your portfolio tracker.

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Keep Track Of Every Transaction

One thing that you should always keep in mind when dealing with cryptocurrencies is that every transaction might have taxable consequences. You should therefore always know a few things about your portfolio:

  • The total value of your portfolio
  • The value of your positions
  • Changes in value both planned and unusual
  • Performance indicators, strategies or anything else you want to base your purchasing decisions on
  • Due to the aforementioned points, it is also very important to have an overview of your performance so you wont be surprised by taxable gains.

    There are two ways to make sure you are always up to date with your portfolio. The hard way and the easy way .

    See How To Track A Cryptocurrency Portfolio The Modern Way With Kubera

    If you hadnât noticed before, we think Kubera is a pretty awesome crypto portfolio tracker.

    And, no, weâre not just saying that because we want to sell you something.

    Weâre saying that because we truly built â and continue to improve â Kubera for the modern investors of the world who are tired of their time, money, and sensitive data stolen by the same financial tools that promise to help them.

    At Kubera, weâre a small team of individual investors who are always looking for new ways to diversify our portfolios. And in that quest, we realized we had a lot of scattered assets on our hands with no system for managing all of them for ourselves or for our children to whom we would eventually pass them down.

    Thatâs why we created Kubera â the first true all-in-one portfolio tracker that will help you manage both crypto and fiat accounts side by side. Which accounts? Check out the full list of banks, brokerages, crypto exchanges and wallets, and financial institutions to which Kubera connects. In addition, you can add tickers for individual stocks and cryptocurrencies to your Kubera dashboard to keep an eye on the market at all times.

    If youâre a financial professional or would like to use Kubera with help from your financial professional, get in touch at to learn about our white-label solution.

    right now and see if weâre right about being the single best tool for keeping track of your crypto investments and beyond.

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    What To Look For In A Crypto Portfolio Tracker

    When picking a portfolio tracker, consider the cost and features. These are the most important details to check for typical crypto investors and traders:

    • Cost: Cost is a major factor, as you probably dont want to spend much to track your crypto unless you have a large balance. Fortunately, many of these options are completely free.
    • Security: Security is critical with your cryptocurrency. Lost cryptocurrency is generally not recoverable, so only hand over your public keys, view-only API access or other limited account access.
    • Supported accounts: A crypto portfolio tracker isnt useful if it doesnt cover all of your accounts. Make sure your exchange or wallet is covered before signing up.
    • Ease of use: Some apps are easier to use than others. Depending on your level of tech-savvy, you may want a simpler app or a more complex one.
    • Additional features: Some apps show you portfolio gains over specific periods. Some offer insights into taxes. Some just help you track your portfolio. If you have any specific needs or wants, make sure those are covered too.

    Best Crypto Portfolio Apps

    HOW TO TRACK AND MANAGE YOUR CRYPTO PORTFOLIO
    • Multiple cryptocurrencies and trading pairs with exchanges
    • Can sync with a downward swipe and update prices instantly

    Blockfolio is the most popular mobile portfolio tracker. The interface is straight forward and pretty easy to use. It tracks a very large number of coins, and has a myriad of options, including checking the actual order book and on different exchanges for each coin, and a basic but usable news feed.

    A particularly useful option are alerts when a coin reaches a certain price. Since many crypto exchanges dont fully support stop-loss orders, Blockfolio alerts can be used for a quick profit cash-in or reducing your losses when the price starts dropping.

    Its highly customizable: You can hide your balances and only see percentage changes, lock the app with a passcode, share screenshots, and more.

    Blockfolio is a cryptocurrency price and portfolio tracking that delivers excellent charting, working alerts, more compact portfolio page and adjustable crypto news. The app is available for Android and iPhone and it is free.

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    Its Ok But Nothing Seems Better Yet

    This app is pretty good, though i think it is displaying some data from apis wrong. Some cost averages are incorrect as well as a few other things. Also, no support for voyager. I really do use this app all the time, but they need to up their game. Id love to have better statistics on all of my portfolios. That whole feature kinda of seems like no thought was put into it. Also, providing better charts would keep me in this app longer, instead of hopping to trading view and tbh staying in that app longer. The coinstats charts are weak and could be improved. I like the api integration and its great that it tells cost average, as some exchanges/brokerages dont show this and i need to do my own math to find it. Those are the 2 reasons keeping me on this app. Tbh, if a newer shinier portfolio app comes around with trading view chart integration and better stats, ill move in an instant. For now, i guess i have to just hope coinstats are working on some nice uptatesFor the cost of this app, it could be a lot better.

    Best For Global Coverage: Achee

    Choose achee to keep tracking your investment performance simple. You can track investment costs, corporate actions and the performance of your investment portfolio in your preferred currency, and see your gain/loss against a base currency.

    You can also compare your portfolio performance to major benchmarks and get a portfolio health check and suggestions on areas to improve performance. The platform easily tracks and organizes your entire stocks, cryptocurrencies, fixed assets and cash accounts.

    It covers 170,000+ stock tickers, collected from 70 global exchanges, including Nasdaq, NYSE and more. You can choose from 7,000+ cryptocurrencies and all the major currencies in the world.

    And achee uses the latest encryption technology standards to protect your sensitive personal information.

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    How To Track Crypto Portfolios The Right Way

    HodlX Guest Post Submit Your Post

    Most crypto investors use dedicated portfolio trackers to monitor their assets. But only a few know that you can get the same wealth of data from a regular Ethereum block explorer, including the value of your coins in USD and the portfolios performance chart.

    Why and how regular investors monitor portfolios

    How do you know if your crypto portfolio is performing well? Lots of wallets will show you the current value of your assets in USD, but thats just a snapshot. You need to see how the portfolios value has changed over time to decide which assets to sell for profit and which to keep as long-term investments.

    For this reason, most crypto users who hold more than three different coins sooner or later start using some sort of portfolio tracker. There are dozens on the market, including Blockfolio, CoinTracker, CoinStats, Delta and more.

    Six problems with using a tracker app

    While the popular portfolio monitors definitely do their jobs, they have a few issues.

    1. You have to set up an account and link a wallet. Many trackers let you do that using a Google or Coinbase account, but its still an additional step you cant just go to a page, paste your address and see what your assets are worth. Some trackers even require that you add each asset separately.

    Source:CoinTracker

    6. Not all exchanges and wallets are supported. Most trackers have dozens of exchange and wallet integrations but not all allow you to add a random address.

    How To Add An Alert

    Cryptocurrency portfolio tracker

    After tapping on the three dots and selecting Add Alert, you will be given the option to select the price you would like to trigger the alert and the alert will sound once the asset moves above or falls below this price.

    You then choose which exchange price you want to track, and if you just want to be alerted of the general price of the asset you can opt for Global Average before selecting the sound of the alert and its frequency. Once this is done you can click save to finish setting it up.

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    Know Your Holding Periods

    You might be on crypto-cloud 9 at the moment because yet another Crypto-Bull has taken you to the skies. However, the tax authorities will eventually make it rain for themselves.

    It does always pay to know your way around a few rules and regulations that you can use to decrease your tax burden. The most important one is definitely the holding period.

    A holding period is the amount of time the investment is held by an investor, or the period between the purchase and sale of a security.Investopedia

    In the US, the rules state that gains from crypto transactions that are completed within one year are short term capital gains. Gains from crypto transactions, where the time between purchase and sale is 366 days or more, are long-term capital gains.

    In this situation, if you wait just one more day you save a substantial amount of taxes.

    In the above graph, selling just one day early would lead to significant taxes on short-term gains, while going over the magical one-year limit decreases your tax burden.

    The tax rates for long-term gains are much lower than those for short-term gains. It, therefore, makes sense to always check the exact times of purchase for each transaction to minimize your taxes.

    Best Cryptocurrency Portfolio Trackers Of 2020

    Advertiser DisclosureThis post contains affiliate links, and CoinDiligent will be compensated if you make a purchase after clicking the links.

    Are you looking for a comparison of the best cryptocurrency portfolio trackers? Then youre at the right place.

    As a cryptocurrency investor, you need a cryptocurrency portfolio tracker. If you dont use one, then you essentially only have two alternatives.

    The first one is to keep track of your investments on a spreadsheet that you update manually all the time, and the second one is to not keep track of your investments at all.

    Obviously, both alternatives are not ideal, which is why a portfolio is crucial in the fast-moving cryptocurrency world.

    In this article, we compare the best cryptocurrency portfolio trackers to help you decide which one suits you best, along with giving some insights into the importance of this critical tool.

    Contents

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    What Is A Cryptocurrency Portfolio Tracker

    A cryptocurrency portfolio tracker is a digital platform, such as an app or website, that enables you as an investor to keep track of the ever-changing value of your different coins so that you can manage your portfolio properly.

    Cryptocurrency portfolio trackers connect with crypto wallets, which enable individuals to control their digital currencies. Some also integrate with actual crypto exchanges, where investors can trade digital assets, including crypto coins.

    There are thousands of different cryptocurrencies.

    And, just like fiat currency, the value of each is always changing. This is intensified by the fact that cryptocurrency markets trade 24/7/365.

    As you add assets to your portfolio, especially those of the fast-changing variety, the more time youâll need to spend tracking all of them. That, or you can find a tool thatâll do it for you.

    A cryptocurrency portfolio tracker is that tool â enabling you to easily monitor the performance of your cryptocurrencies and other assets all in a single view.

    Why is it so important to be able to easily keep track of the performance of your assets?

    Because itâs important that you maintain a portfolio thatâs consistently well-balanced and well-diversified, which are two key practices for keeping your wealth in good health.

    Find A Portfolio Tracker Now

    How to Track Your Crypto Trades and Portfolio With Google Sheets

    A smartphone or laptop can track and analyze your investments in real-time. Let an app do the work. Start with 1 of our recommended portfolio trackers today.

    Want to learn more about the stock market? Check out Benzingas guides to the best online brokerages, how to trade stocks for free and the best stock research tools.

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    Best For Taxes: Cointracker

    CoinTracker works on the web and mobile and includes free cryptocurrency tracking. Paid subscriptions give you the ability to view your performance over specific time periods, break down results by currency, take advantage of tax-loss harvesting and more.

    If you want to generate the tax reports needed to file your annual tax return, you can buy an annual package to generate everything you need. The tax prep package is an additional cost to the portfolio assistant, which is not ideal. But the free portfolio tracker may be useful for you anyway.

    I use CoinTracker myself on the web and my Android phone to check in on my portfolio balance every day. I like that I can quickly see my total balance, total gains, 24-hour performance and balance by currency all in one place with a clean and easy-to-understand interface.

    Managing A Crypto Portfolio

    Tracking high-volume transactions can be time-consuming and complicated. Since the goal of holding cryptocurrency is to increase the value of the assets, it doesnt make sense to spend an inordinate amount of time manually tracking these changes over time.

    Building up a crypto currency portfolio requires you to allocate assets and determine risk. Each investor has a unique trading style that will affect the outcome, and the amount of time may also vary from one person to another. These constraints influence the way the portfolio is managed.

    Keeping track of your digital cryptocurrency portfolio can enable you to make better decisions based on real information. The holdings may increase or decrease in value, and this information is critical for making any risk calculation. Software can provide the information within a format that makes it easier to evaluate the performance of any given trade in real time.

    The crypto market is known to be volatile, which increases the sense of complexity. The changes in the price of cryptocurrencies can make it difficult to evaluate the risk of a given trade. Manual updates to the portfolio seem increasingly time-consuming and cumbersome in this environment. Complexity is inevitable when scaling up the quantity of orders, so tracking tools become critical for managing these assets.

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