With over 20,000 cryptocurrencies now available on the markets, it may be difficult to track all the crypto you hold. Crypto portfolio tracker makes it easy
Thank you for reading this post, don't forget to subscribe!
What Is a Crypto Portfolio Tracker
A Crypto portfolio tracker gives you a bird’s eye view of your income, capital gains, and losses.
It is a platform that enables you to keep track of all the crypto you hold so you can track how your portfolio is performing in a single glance
Most cryptocurrency portfolio trackers connect with crypto wallets, which enable individuals to control their digital currencies. Some also integrate with actual crypto exchange accounts, where investors can trade digital assets, including crypto coins.
Why do I need a Crypto Portfolio Tracker:
- One of the key reasons people adopt crypto portfolio trackers is to create a singular dashboard from which they can keep an eye on all of their investments. The crypto market has grown massively and we now have over 20,000 cryptocurrencies.
- The crypto market is active round the clock and price changes now and then; easily Influenced by news and events
- Crypto Investors who diversify their assets find it difficult to track the performance of each of the assets they are holding.
- Your ability to track your investment will enhance your profitability. As the saying goes, what you can track and measure, you can manage — and hopefully manage to grow.
Features to look out for when picking a Portfolio Tracker;
Now you know you need a portfolio tracker. Let’s guide you on the necessary things you must look out for when selecting a portfolio tracker.
Integration with a Range of Financial Institutions:
Crypto portfolio trackers function by integrating with third-party aggregator APIs, allowing them to access various cryptocurrency data sources necessary for monitoring your investments.
However, it’s important to note that these aggregators often have geographic restrictions and technological limitations, limiting their compatibility with specific crypto data feeds. Consequently, not all cryptocurrency portfolio trackers will function universally. Therefore, it’s advisable to evaluate the tools of your choice to ensure they align with your unique requirements and circumstances.
A High Level of Security
Crypto portfolio trackers establish connections with users’ crypto accounts. A paramount concern is guarding against potential threats that could exploit these links to gain access to users’ login credentials for various financial institutions.
Identifying portfolio trackers that prioritise security isn’t a daunting task. A visit to their websites can reveal their commitment to safeguarding data through encryption and promoting the use of two-factor authentication wherever feasible. Moreover, it’s commendable to opt for trackers that avoid direct access to users’ account credentials, opting instead to entrust this sensitive information to reliable aggregator services.
In the present era, any portfolio tracker worth considering should offer a seamless user experience. It should enable you to effortlessly add your assets and monitor their performance with ease, whether you’re on a computer or using a mobile app with just a few clicks or taps. This user-friendly experience is often achieved through automation, eliminating the need for manual updates of your asset information or its values.
A portfolio tracker must be automated. Automation in a portfolio tracker, ensuring a user-friendly experience from the initial setup of your crypto accounts to every subsequent use when monitoring your investments.
Diverse Portfolio Unification
Although diversifying is a robust investment strategy, the challenge of diversifying into various alternative investments, including cryptocurrency, lies in comprehending how they collectively influence your portfolio.
To address this, it might be beneficial to explore comprehensive solutions that extend beyond portfolio trackers exclusively focused on cryptocurrencies. These solutions can consolidate your entire investment portfolio on a single dashboard.
Furthermore, any portfolio tracker claiming to provide a consolidated view of your net worth and crucial investment data on one interface should also offer real-time conversion of each asset’s value into your preferred currency, whether it’s USD, INR, GBP, SGD, or any other.
Top 3 portfolio trackers in 2023;
Most of these trackers are not free. They charge a certain fee so they can maintain the business and of course make some profit at the end of the day. Let’s delve in and examine the best portfolio trackers we have.
DeBank is an amazing Defi dashboard that tracks over 800 protocols on more than 15 different chains. It provides users with a simple overview of their holdings, positions, outstanding debt on loans and pending rewards.
Debank doesn’t just end at being a portfolio tracker, it also allows users to interact with other investors and see exactly what they are investing in. You can easily send a whale a message through Debank using their “Hi” feature.
Debank has gained widespread attention and interest from prominent investment funds, amassing over $25 million in funding for continued development. Notable contributors include Coinbase Ventures, Crypto.com, Circle Ventures, and several others.
Once you enter your address or connect your wallet such as Coinbase wallet or Metamask, DeBank will retrieve real-time smart-contract data from various DeFi products and present your portfolio with detailed stats. This includes collateralization ratio, leverage ratio, liquidation price, APY, yield farming, etc. Debank is a good tool to add to your list.
Check out; https://debank.com/
Nansen Portfolio empowers investors to track market movements, examine exposure, and view performance over time. It allows you to create unlimited portfolios with a wallet bundling feature across 40+ chains
By leveraging the connected power of Nansen, investors can also follow the activity of whales, Smart Money, and institutions efficiently—unlocking the full utility of the blockchain’s fundamentally transparent nature.
Nansen Portfolio also has one of the most complete blockchain coverage of any portfolio tracker in the market, with coverage of 476 protocols and 42 chains such as Ethereum, Solana, and Cosmos.
Check out the Nansen dashboard URL; https://portfolio.nansen.ai/dashboard
Kubera is a premium portfolio and net worth tracking tool that lets you monitor your investments, real estate holdings, and other asset classes so you get a complete picture of your finances.
Kubera isn’t your average tracker. This portfolio and net worth tracking tool syncs with 20,000+ banks and brokerages, and it also offers incredible crypto and DeFi support. It’s one of the more comprehensive trackers out there, and it excels for larger portfolios. (An ideal portfolio tracker)
Check them out https://www.kubera.com/crypto-tracker