Wednesday, August 10, 2022

How To Track Your Crypto Trades

A Clean And Clear Layout

How to Track Your Crypto Trades

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.

Powerful Performance Insights For Crypto Investors

Track investment performance over any period

Compare crypto returns over multiple periods

Calculate your portfolio diversity

Understand the drivers of your performance

Group the investments in your portfolio along the dimensions of your choice to compare performance across crypto vs stocks, different countries, industries, sectors and more.

Start by tracking up to 10 holdings for free

What Are The Best Crypto Portfolio Trackers

Buying and selling crypto tokens using investment apps can be nerve-wracking. The crypto market is particularly volatile, and its tough to trust all the information you come across online.

Its good to know that the best trackers will display real-time data on how much money you have made, what the current value of your investment is, and based on past patterns, what worthwhile future crypto investments you should look into.

Most trackers will also allow you to invest and withdraw money within the same interface by connecting to your digital crypto wallet or even NFT wallet. A few will even provide you with more detailed analytics and metrics, such as a breakdown of your assets by category or across crypto exchanges.

With the above in mind, the following are the top crypto portfolio trackers that you should consider right now.

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What Are Some Vpns That Accept Bitcoin

Here are a few VPNs that accept bitcoin as payment:

Cons:

  • Expensive monthly plans

ExpressVPN takes the top spot in this review because of its excellent security, ease of use and fantastic speeds. It has impressive download and upload speeds, especially when using the Lightway protocol, making it a good choice for crypto trading.

In addition, this VPN service has an automatic kill switch known as network lock, which is available on Windows, Mac, Linux and routers. On top of all that, you get access to a massive server network with over 160 server locations.

Further, ExpressVPN provides extensive leak protection , so you dont have to worry about your data being exposed. The threat manager, included with your subscription, stops websites and apps from recording your online activity and sharing it with third parties.

How Much Does A Crypto Portfolio Tracker Cost

Cryptocurrency Trading Spreadsheet in Edited 20170906My Detailed ...

A cryptocurrency portfolio tracker typically requires a fee to use. However, most applications have a free version that allows investors to get started without having to pay right away.

Of course, some paid versions offer more features and better scalability than the free ones, but this is something that youll need to find out on your own depending on what youre looking for in an application.

Read Also: How Much Do Crypto Traders Make

Dont Trade When You Are Stressed Or Nervous

Its a great moment to make a bad decision. All those decisions that are related to your capital gains can affect your tax history. As you know, you dont do anything while you are stressed out, so dont play with your money too while it lasts. One day, you will be very sorry if you lose a lot of money, or trade when the conditions are bad, and you will still have to pay the taxes for that.

If you want to be sure you didnt miss anything, and that you are completely aware of every crypto action you take, you can use some of the accounting software solutions. Our honest suggestion is to hire someone to help you with this one, but its completely understandable if you want to do that by yourself, without sharing these valuable things with anyone else.

When it comes to understanding the taxes, make sure you know what you need to do with your crypto profits, and which forms are required to report them. Dont try to skip the taxes on purpose, because IRS already knows about your capital gains and income so you wont do anything good with that.

Crypto Portfolio Tracking: How To Choose The Right App

One of the keys to becoming a successful trader and investor is managing your cryptocurrency portfolio and tracking its performance. Cryptocurrencies can fluctuate a lot. Luckily, refreshing your balance is possible no matter where you are. Good Cryptooffers you not only an automatic overview of every step you take in the process of growing wealth but also an advanced trading experience, all in one place.

In both the and the App Store, there are plenty of applications for tracking cryptocurrency investments. But how many of these apps are actually good? Which is the most feature-rich and secure, and what criteria should you use to select the right app? Lets find answers to these questions in this article and discover the best crypto portfolio tracker app.

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Can I Use A Free Crypto

A free VPN may help you trade crypto anonymously, but there are some caveats. Some free VPNs are malware-ridden and they might log your data to sell to advertisers. You also might experience data and bandwidth throttling.

That said, if you are on a tight budget, we recommend Windscribe. Its one of the rare trustworthy free VPNs and comes with a no-logs policy.

Good Crypto Offering Everything You Need For Crypto Portfolio Tracking And More

How to Track Your Crypto Trades and Portfolio With Google Sheets

Good Crypto raises the bar and takes the lead over all the other applications on the market.

  • Track your portfolio performance in real-time
  • Automatically have your trades and balances updated
  • Connect and trade on almost 30 exchanges, all in one application
  • Track your blockchain wallets and enable alerts for transactions
  • Have an easy to understand overview of all your holdings combined with a clear distribution by assets, exchanges, and wallets
  • Follow the cryptocurrency market, over 10,000+ trading pairs, and discover new currencies based on their performance and market cap
  • See the live order books and trade history for all these pairs
  • Schedule a market summary notification that gives you a 24h recap at the time of your choosing
  • Receive alerts for sudden movements of the top currencies, DeFi hyped projects, newly listed currencies, and soon advanced alerts based on technical indicators
  • Trade on top of almost 30 exchanges with advanced order types and automation described above
  • Denomination in over 40 fiat currencies to track performance in your native currency

Good Crypto will connect with your exchanges, automatically update your portfolio value, and track historical performance at no cost. Basic trades and basic alerts included.

Not convinced yet?

Also Check: Can You Trade Crypto On Coinbase

All In One Tracking With Your Other Investments

As you can see, three of the above options are only for tracking bitcoin or other altcoin investments. So what if you want to see this piece of your investment portfolio as just part of the whole? In this case, you need to go with another investment-tracking platform that also gives you access to bitcoin tracking.

One well-known investment tracker, other than Personal Capital, that does this right now is Mint.com.

There is no official support for Coinbase or other altcoin accounts with Quicken or YNAB. But you can add these investments manually to both platforms.

Mint, on the other hand, does officially offer an API connection with Coinbase accounts. This means it offers only limited tracking for altcoin investments, but it does import the values and transactions automatically.

You should note, though, that Coinbase itself doesnt recommend this integration with Mint. It says that any integration that involves API keys creates potential risks for account take-overs. So be sure youre comfortable with this potential risk before you add your Coinbase account to Mint.

Make Your Crypto Transactions Extra Secure With Multihop

MultiHop, Surfsharks version of a double VPN, routes your internet traffic through two servers to encrypt your traffic twice and help you trade securely. The only downside is that you have about 14 server combinations to choose from.

Fortunately, as part of a new feature known as Nexus, Surfshark has introduced a dynamic MultiHop feature, which allows you to choose your own country combinations.

Surfsharks one-year and two-year plans are some of the cheapest out there. For payment, you can either use CoinGate or CoinPayments to pay with Bitcoin, Ethereum and Litecoin. All plans come with a 30-day money-back guarantee.

Surfshark Plans

Cons:

  • Inconsistent speeds on OpenVPN

CyberGhost has the most servers of any VPN on this list, with over 7,800 servers in 91 countries. This makes it an excellent choice for sneaking past geoblocks and keeping tabs on your crypto wallet, even in countries where your trading platform is banned. Although its speeds are not as consistent on OpenVPN, you get stable connections on the IKEv2 and WireGuard protocols.

Theres also a kill switch and DNS leak protection, both of which ensure that your IP is always hidden. In addition, CyberGhosts apps are extremely easy to use and you can automate your VPN experience with the smart rules feature.

For example, you can set up your device to connect to CyberGhost each time it connects to a public WiFi network. Learn more about this VPN service in our CyberGhost review.

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Start Getting Ready For This On Time

Our suggestion is to keep records for every activity you take on the crypto market. That will help you have all the documents and information you need to fill up the tax report. Dont wait until the deadline, because its very easy to miss something, and face some law problems because of that. So, we highly recommend running a journal of every transaction you are performing, no matter how big it is, so it would be easier for you to match them all together and file the needed form, fulfilling your obligations as a citizen of the United States.

Also, in order to avoid trades that lead to losing money, you need to:

Use Effective Tools For Crypto Portfolio Tracker App Development

Crypto Trading Spreadsheet with Cryptocurrency Trading Spreadsheet ...

A mobile app requires frequent enhancements. The release cycle has a short duration. Such development requires automation of testing, build management, and code deployment. You need to find a good combination of DevOps tools. I recommend you use Jenkins and Selenium. You can read Top 10 DevOps tools you must know in 2018 for more recommendations.

You also need a good project management tool. Trello is a well-known PM tool. I have evaluated other tools in The 10 best Agile project management tools in 2018, which you can review for more options.

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Easily Import Your Trades

Add your exchange accounts via API or CSV files and connect your blockchain wallets using public addresses.

  • DeFi, Margin trades & Futures. Whether you are staking on Kraken, lending on Nexo or going long on BitMEX. Koinly can handle it all.
  • Smart transfer matching. Koinly uses AI to detect transfers between your own wallets and keep track of your original cost.

“I switched to Koinly last month and really loving it so far. Much better than cointracking. Good job!”

Ella JacksonColorado

“It was easy to sync my accounts, the tax report was in good format and approved by BZSt. Great support.”

Andreas KüchlerGermany

“Team is very supportive, helped me import my Bibox transactions and guided me all the way. I have invited some of my friends to Koinly too and they are thanking me :D”

Nils OlssonSweden

Key Features Of Cointracker

Here are the key features of CoinTracker:

  • Fully supported in the UK, US, Canada, and Australia. In every other country, it is partially supported
  • Easy-to-use, modern, and intuitive interface
  • Syncing your crypto trades and investments. It covers over 300 crypto wallets and exchanges
  • Supports over 2500 cryptocurrencies
  • Mobile applications, available on both Android and iOS that are easy to use
  • Supports CSV uploads and PDF tax forms download
  • Uses LIFO, FIFO, LIFO perpetual, and the average cost for their accounting methods

Pricing

CoinTracker offers you a free plan to track portfolio daily updates, and portfolio allocation.

It costs about $14 per month to get access to more features like performance over time, performance by crypto.

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Crypto Portfolio Tracker Apps Review

Different crypto portfolio tracker apps have distinct features and their workings differ. Most allow you to add in all wallet addresses regardless of the host blockchain, so you can track the value of coin holdings and price in real-time and history. Hence, portfolio tracker software may have API integration with exchanges and other wallets.

The best crypto portfolio trackers help investors and traders to make real-time decisions and change their portfolios. Most contain advanced charting and value prediction tools to help users make timely decisions regarding their crypto holdings.

=> > Contact us to suggest a listing here.

Help With Your Crypto Tax Returns

How to TRACK your CRYPTO TRADES & P2E EARNINGS? USE THIS!

Crypto investors are obligated to keep track of their gains and losses for tax purposes. Luckily, most applications also include this feature.

If youre looking at an application that does not offer support for cryptocurrency taxes, you might want to consider choosing one that comes with crypto tax software included. The last thing you want is to overpay/underpay on your taxes because of a slight oversight.

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How Does It Work

Running Bitcoin transactions, a user has to realize that actually, nothing is sent or forwarded. There is just an inputted number of coins that is transmitted , and the information about the transaction is publicly available. Each transaction is listed as an input that is, a sum, which will be directed to the account.

All the transactions and operations are tied to the name of the wallet . Thus, there is no way to find out the name of the wallet holder. Moreover, it is impossible to link a wallet to the real name/ID/address. This is why the service is considered to be anonymous.

Transaction confirmation is the process of including a transaction in the block. Source: shutterstock.com

Transaction confirmation is the process of including a transaction in the block. Inclusion in one block equals one confirmation. A transaction is considered to be confirmed when there are at least six such confirmations . It helps to protect users against the repeated waste of the same Bitcoins.

Different sites and services are entitled to put their own restrictions and limitations if we are talking about the number of confirmed blocks, but usually, this number is six.

Fa Vs Ta Which Is Better

It entirely depends on the trader profile. Do you want to be the kind of trader that prefers to get in and out of trading positions multiple times a day ? Then crypto technical analysis will be your best friend. Instead, do you prefer to research and make informed bets every time ? Then a mix of both is the way to go.

Note: As a trader, you cant have enough tools in your arsenal. Applying both FA and TA will give you the best chance of identifying the best trading and investing opportunities in the crypto market. This is because the two techniques complement each other in so many ways.

For instance, you may use FA to determine that an asset is worth investing in. What you may not uncover with FA, however, is the right time to invest. For this, you will have to rely on technical analysis. Conversely, if you are using TA to work out future price movements for a given asset, you can use FA to confirm whether or not the price trend you are witnessing is poised to continue.

Therefore, there are advantages to using either technique over the other at various moments in your research, but to have a more complete picture, use both.

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Track Addresses For Token Sales & Mining Transactions

If you are into mining or working as an affiliate for a specific cryptocurrency project or working as a community manager for an ICO, there is a good chance that you fall into the category of earning cryptocurrency as an income.

This is taxed differently compared to trading. Here, you get the cryptocurrency as a deposit to your registered wallet regularly or one time. You need to keep track of these addresses . Yeah, that sounds crazy, but its early days and we need to live with it.

Since the cryptocurrency earned through mining or salary is taxed as income, you need to have addresses and records of it to claim it as income and taxed in a separate lower rate, unlike short term capital gains.

The 6 Best Cryptocurrency Portfolio Trackers

Crypto Trading Spreadsheet With Cryptocurrency Trading Spreadsheet ...

Lucas Wyland is the Co-Founder and CTO of CoinLedger.

Miles Brooks holds his Master’s of Tax, is a Certified Public Accountant, and is the Director of Tax Strategy at CoinLedger.

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 protocols, and wallets, thereâs more demand than ever for crypto portfolio trackers that can help you track the value of your digital assets.

Our team took time to study the best crypto portfolio trackers on the market. In this guide, weâll walk you through the pros and cons of the most popular offerings.

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