A crypto portfolio tracker can help you keep an eye on your cryptocurrency holdings and their performance. One big flex of crypto investing is its decentralized nature, which means no central authorities or third parties are involved in the process. However, this also means you’ll have to interact with multiple platforms and services to get all the necessary information.
A crypto portfolio tracker can help you stay organized and prevent missing out on important data. Here’s how they work: When you open up a crypto portfolio tracker, it will pull in all the relevant info from various exchanges and wallets. It will then aggregate them into one platform, so that you can easily see what you own and where it came from.
In this article, we will demonstrate 5 ways, in which a crypto portfolio tracker can help you.
5 Practical Ways a Crypto Portfolio Tracker Can Help You
A crypto tracker does more than just tell you how much money you’ve made or lost over time. They can also help you manage your risk by showing you how much exposure you have to different coins. So here are five practical ways a crypto portfolio tracker helps you.
1. Keep Track of Your Cryptocurrency Holdings
One of the most basic things a crypto portfolio tracker can do for you is to keep track of your cryptocurrency holdings. If you’re like most traders, you have probably invested in dozens of cryptocurrencies. But as with decentralization, each token may be on a separate exchange wallet.
This diverse array of tokens makes it hard to keep track of everything. And if you don’t know exactly how many tokens you hold, you might miss out on opportunities to buy low and sell high.
Whether you’re a crypto trader, whale investor, or someone who enjoys using cryptos in a bitcoin casino, having a crypto portfolio tracker can be very helpful. The tracker can make monitoring your investments easier, as it will display all your digital assets in one place.
2. See Which Coin Is Performing Best and Which Is Losing Value.
One downside to having a large crypto portfolio scattered across Dapps is that it can be difficult to figure out which coin is performing best. For example, let’s say you have 10 ETH worth of Ethereum Classic (ETC) and 10 ETC worth of Bitcoin Cash (BCH). How would you know which one has performed better?
The answer is simple – you wouldn’t. But thanks to a crypto portfolio tracker, you can now see which coin is doing well and which is losing value. A crypto portfolio tracker can help you arrange your assets into categories based on their performance. Then you can quickly check which category is growing and which is shrinking.
3. Get Alerts About Important Events and Latest Crypto News
Another way a crypto portfolio tracker can benefit you is by helping you stay informed about the latest news. Whether you’re interested in trading tips and market analysis or just want to learn more about the industry, plenty of resources are available online. However, not everyone wants to surf hundreds of websites every day to stay updated.
A better option would be to use an app that aggregates all the necessary information in one spot. With a crypto portfolio tracker, this becomes easy because you can get alerts whenever there’s breaking news. Many crypto portfolio trackers have already connected to popular crypto news sites, so you won’t even have to search for them yourself.
4. Easily Set Up Crypto Price Alerts
Knowing how much a token is worth at a given time can be useful when deciding whether or not to invest. However, a large portfolio means you’ll need to set up price alerts for multiple exchanges. This can be tedious and time-consuming.
Thankfully, a crypto portfolio tracker can automate this process. All you have to do is enter the prices you want to watch and select the exchanges where you’d like to receive notifications. The rest will happen automatically.
5. Curate a Personalized Watchlist
If you’ve ever tried to follow a list of coins, you know that it can be overwhelming. There are thousands of tokens listed on various exchanges, some of which are only available on certain platforms. To simplify things, a crypto portfolio tracker can help you create customized lists of coins.
Portfolio trackers allow you to add any cryptocurrency to a watchlist. Once added, you can easily view all the details about each coin. From there, you can track their performance and decide whether or not to include them in your portfolio.
Bottom Line
There are many ways a crypto portfolio tracker can help you manage your investments. These tools provide a convenient way to organize your holdings and keep tabs on their performance. This way, you can make smarter decisions regarding your investment strategy.
Taylor is a freelance SEO copywriter and blogger. His areas of expertise include technology, pop culture, and marketing.
