Institutions are increasingly joining the cryptocurrency sector. Cryptocurrency portfolio monitoring applications are also on the rise, owing to the widespread advice on diversifying your holdings. Even for long-term crypto investors, let alone those who trade on a daily basis, a portfolio tracker app will make a significant difference.
If you gain expertise as an investor, you can find it difficult to keep track of the worth of each of your coins. Portfolio trackers for cryptocurrency reveal improvements in your portfolio and let you see how much capital you have at a glance.
Portfolio trackers are important tools for both casual and experienced cryptocurrency investors because they enable you to track your investments over time and control market fluctuations at all hours of the day.
Are you unsure which portfolio tracker to install? We’ve put together a list of some of our favourite portfolio trackers currently on the market, as well as some pointers to help you discover the next big thing.
What is a crypto portfolio tracker?
A cryptocurrency portfolio tracker is a website, software, or any kind of portal that helps you to monitor your cryptocurrency assets and keep track of how their value changes.
Trackers connect to your wallets and exchanges, providing a one-stop shop with anything you need to know about the value of your portfolio. Large-scale traders with more than three coins regularly traded in a fund would benefit the most from cryptocurrency funds.
Any cryptocurrency fund trackers also serve as trading hubs for cryptocurrencies. A monitoring exchange, like a regular tracker, assigns you an individual wallet key that you can use to import and carry cryptocurrencies.
These trackers also help you to buy and sell the platform’s sponsored cryptocurrencies. Leaving your coins in your cryptocurrency exchange is easy for both experienced and novice traders, but it’s a risky long-term option since exchanges are most regularly targeted by hackers.
If you want to participate in cryptocurrencies for several months or years? It’s preferable to use an external wallet and tracker.
Each blockchain portfolio tracker has its own collection of features, and no one tracker will do it perfectly. Some may encourage you to buy and sell coins, but they may not have all of the coins you need.
Others might let you buy and catalog a lot of different things, but they don’t have any apps. You’ll have to weigh the pros and cons of each portfolio tracker to determine which is best for your needs as an investor and broker.
Best crypto portfolio trackers
Are you looking for the best cryptocurrency portfolio tracker available right now? You’ve arrived at the right place.
We’ve been in the crypto world for a long time and have seen a lot of crypto portfolio trackers. We also assist teams in constructing them. We’ve used almost every cryptocurrency tracker and sat down to try the others for this article.
Blockfolio
If you’ve been around crypto for a while, you’ve undoubtedly heard of Blockfolio. Blockfolio, which was established in 2014 and has over 6 million users, is the undisputed heavyweight champion of crypto portfolio monitoring. It’s no joke that FTX, a cryptocurrency exchange, paid $150 million for the software.
With the 2017 crypto bull run, Blockfolio was in the right spot at the right time, taking a large share of the crypto monitoring market. They weren’t only fortunate; they were exceptional.
Pros
- The mobile-first architecture of Blockfolio is fantastic. One of Blockfolio’s biggest differentiators has always been its superior architecture and user interface.
- It funds a large number of cryptoassets (over 10,000) and has a good number of trading links (15 exchanges at the time of writing)
- Signal, a project analytics app from Blockfolio, combines news and other useful information about your favorite projects.
Cons
- Blockfolio is a mobile-only app, so there is no online version. You’ll have to search elsewhere if you’re searching for anything on the internet or the internet. Until then, we’ll be looking forward to Blockfolio on PC, Mac, and the internet!
- Blockfolio connects to less crypto accounts than any of the other leading cryptocurrency monitoring applications.
Kubera
It’s cool to keep track of your cryptocurrency balances, but what about your other financial accounts and investments (bank accounts, brokerage accounts, real estate)?
Mainstream portfolio trackers like Mint and Personal Capital lack the ability to bind crypto accounts, making it impossible to consider the overall net worth when crypto is used.
Pros
- Kubera allows you to integrate all of your financial accounts, including cryptocurrency, in one location. Kubera has an extremely simple and clean interface, which makes viewing all of your accounts together a completely awesome experience. There is no clutter, and the software as a whole looks light (in a good way)
- Kubera does not monitor or sell the data to third parties, making it an excellent choice for those who respect privacy.
- Kubera will bind to a wide variety of cryptocurrency accounts, including all of the major exchanges and consciousness classics like Trezor, Ledger, and MetaMask.
Cons
- Kubera is actually only available on the internet, so if you’re looking for a native smartphone app (iOS or Android), you’ll have to look elsewhere.
- Kubera isn’t free, but you can try it out for 14 days for free. After that, it’s $12 a month or $120 a year.
Zapper
Zapper was born out of the merger of two teams who were both very early on DeFi: DeFiSnap and DeFiZap. Similar to Zerion, Zapper prepared a big bet on DeFi and saw enormous development in 2020’s DeFi bull market.
Pros
- Zapper is an elegant, simplified interface for seeing all of your DeFi activity. Given the amount of difficulty in DeFi, that is a big achievement
- It has unlimited attention of popular DeFi projects and the team is constantly adding new integrations to stay on the cutting edge
Cons
- Zapper is currently web only, so if you’re looking for something on native mobile (iOS or Android), you’ll need to gaze somewhere else
Why do you need to track your portfolio?
The ultimate aim of cryptocurrency investors and bitcoin traders is to increase the valuation of their portfolios in order to expand their portfolio.
A crypto trader must think of asset distribution, risk aversion, trading style, and time horizon while putting together a portfolio.
It is impossible for one’s cryptocurrency portfolio to be identical to another’s. The technology behind the token, the platform behind the coin’s growth, and other factors could influence your decision to invest in digital assets. Even your own tolerance for cryptocurrency market volatility will have an effect on how you build your portfolio.
You’ll need crypto fund monitoring resources or applications to keep track of your cryptocurrency assets and exchange output effectively.
What to look for in a crypto portfolio tracker
Regrettably, not all cryptocurrency portfolio trackers are similarly useful and safe. Though each portfolio tracker can cater to a certain segment of traders, all of the options you suggest should have at least these three simple features.
Safety and Security
Bitcoin and other cryptocurrencies are very challenging to monitor and locate due to the decentralized design of the blockchain. It’s also difficult to figure out who holds the wallet, and it’s almost impossible to reverse a cryptocurrency transaction until it’s been started.
This emphasizes the importance of selecting a tracker that prioritizes protection. Since certain cryptocurrency portfolio trackers link to an exchange or a bank account, it’s critical to safeguard the coins and funds. Security features such as two-factor authentication and multi-layer encryption will protect your wallet against a single breach or data leak, so look for them.
Clean and Clear Layout
The aim of using a portfolio is to be able to easily see all of your investments and monitor how their value shifts. On the front page of a decent portfolio tracker, or with either one or two taps, you can see the overall valuation of your portfolio.
Wide Range of Available Coins and Exchanges
A portfolio tracker should be able to keep track of all of your coins in one location. Look for a cryptocurrency portfolio tracker that connects to all of the coins you own and all of the exchanges you use.
Take a peek at the platform’s coin options before signing up for an account if you’re looking for a hybrid tracker and swap. This allows you to swap as many coins as you want without having to deal with many exchanges or remember passwords.
How to choose the portfolio tracking app
- Know what you can afford to spend your money on.
- Choose a trading/investing strategy.
- Have a plan for how you’ll spend your money.
- Choose which sector of the cryptocurrency industry you want to join.
- Examine the specifics of your chosen cryptocurrency.
- Investigate the price-to-earnings (P/E) ratio.
- Calculate the net profit.
Begin shopping – but that is a more complex subject for another day. Then you must keep your portfolio up to date. Portfolio applications and trackers for cryptocurrency allow you to see your investments across multiple wallets and exchanges. And if you can keep track of your money by going straight to your wallet and trades, it can be inconvenient.
How to use a crypto portfolio tracker
And you’ve been down the crypto blind alley, buying and selling Bitcoin, then Ether, and maybe some other altcoins.
You plan to sell some of your tokens after some time, realizing as you’re making a lot of money. You opt to purchase a new token that you hope would revolutionize the future later on.
Keeping track of all these acquisitions and transactions is, of course, the issue. You’ll need to keep track of whether you’re making a profit or not, as well as figure out how much you owe your country’s taxman at the end of the year.
Crypto taxes are a complicated issue, but I’ve tried to summarize the situation in many big countries, so check out my article on how Bitcoin and other cryptocurrencies are taxed around the world.
So, what are your crypto tax planning options?
Manually keeping track of items with a program like Excel is possible, but it easily becomes overwhelming, particularly if you trade on multiple sites or have multiple wallets.
Using an online crypto tax planning platform is a safer option. Apart from serving as a useful crypto portfolio, all of the resources contained in this article will assist you in planning your taxes.
So, what are your crypto tax planning options? Manually keeping track of items with a program like Excel is possible, but it easily becomes overwhelming, particularly if you trade on multiple sites or have multiple wallets. Using an online crypto tax planning platform is a safer option.
Apart from serving as a useful crypto portfolio, all of the resources contained in this article will assist you in planning your taxes.
If this is your first time filing crypto taxes, we recommend using one of our favourite portfolio/tax planning tools.
How to use a crypto portfolio tracker
- With only one download, you can keep track of your cryptocurrency assets or trade digital currencies.
- Asset distribution and exchange instructions are being monitored.
- Performance of coins compared
- Portfolio alerts in real time, like cryptocurrency market changes and balances
Conclusion
There are a lot of cryptocurrency portfolio trackers out there, but not all of them are made equal, and some have distinct advantages. You’ll need the right tools to develop the best crypto portfolio. We hope that this article has helped you appreciate some of the best choices available based on your requirements.
Another thing is for certain: both in terms of costs and technological ideas, the cryptocurrency industry shifts quickly. It’s not just a good idea to keep track of your crypto as part of your overall fiscal situation; it’s the right thing to do.
Were these fantastic crypto portfolio trackers a source of inspiration for you? If you’re a developer or organization interested in incorporating cryptocurrency monitoring into the software, please get in contact. Our company has assisted a number of companies in developing world-class crypto portfolio monitoring software.
There is a slew of platforms that combine a variety of functionalities beyond cryptocurrency fund monitoring and wealth management. Make use of these advanced features to expand your cryptocurrency portfolio. For the complete list of resources download the whole report now!
