Reasons for Investing in a Cryptocurrency Portfolio Tracker

Cryptocurrencies have gained huge popularity in the global financial market in the last few years. Investors prefer the undetectable nature of some cryptocurrencies, the functionalities offered by cryptocurrency wallets, and the seamless transaction speed. This highly volatile cryptocurrency market is seeing millions of investors investing their money and time. However, for investors who have diversified investments featuring a multitude of coins, it becomes tough for them to track how their investments are doing. This is where a cryptocurrency portfolio tracker plays a major role. 

What is a cryptocurrency portfolio tracker? 

A cryptocurrency portfolio tracker is any platform that provides a place for cryptocurrency investors to track the price fluctuations of cryptocurrencies to drive profit into crypto wallets. Depending on the type, a crypto portfolio tracker may provide numerous features, such as tracking crypto holdings through an app, tracking the allocation of trades, receiving alerts, and more. It makes the job easier for investors, providing a comprehensive source of information for all investments in a single, comprehensive platform. It is a bit difficult to choose one among so many crypto ad networks firms

1. The use of automation 

Cryptocurrency portfolio trackers provide a dashboard allowing them to feed information directly to the hands of the users. This prevents them from using manual methods such as logging in to multiple online accounts to check performance. Instead, this is achieved with the help of a little automation. Taking more time than necessary to make trading decisions in this market can be detrimental to a trader’s trading capital. 

Good portfolio trackers allow their users to see their assets and progress at any time, from anywhere. The user interface should be simple, allowing even novice traders to make inputs without much difficulty. Many cryptocurrency portfolio trackers show the value of holdings in the investor’s preferred currency. 

2. Unifying your portfolio

To be a successful cryptocurrency investor, you should always look towards diversification. However, this also means that your attention will be stretched between different cryptocurrencies with different factors influencing them. This is where a good crypto portfolio tracker comes into play. 

Crypto portfolio trackers which offer robust solutions can easily unify a trader’s entire portfolio. They can condense information such as networks and other critical pieces of data. It also offers the conversion of asset values in the investor’s preferred currency, such as USD, INR, GBP, and more. 

3. Helping novice investors build a portfolio

Certain cryptocurrency portfolio trackers have enough educational tools to let investors start building their own portfolios right away. They can easily learn how to split their portfolio, add stablecoins, rebalance their portfolio and allocate new capital strategically. 

4. Integrating financial institutions

Most crypto portfolio trackers connect to a third-party aggregator to provide crypto data feeds to their users. Some of the best crypto portfolio trackers are equipped to handle different crypto accounts as well as investment accounts, credit cards, and bank accounts. This is possible due to integration with several aggregators which allow them to cover different markets at once. 

5. Taking advantage of security

The threat of cyber security in the cryptocurrency world is very real. This is why cryptocurrency portfolio trackers employ some of the best security protocols in existence. They are careful not to let any malicious parties steal user credentials from a variety of financial institutions. This is why most cryptocurrency portfolio trackers do not access their users’ account credentials themselves, instead letting trusted aggregator services do it for them. In addition, they also make sure to encrypt the data they manage and use 2FA wherever applicable. 

6. Mobile apps

Traders and investors can’t stay glued to a computer screen all the time. For a market such as this where activity goes on 24/7, it is crucial for investors to stay on top of their holdings no matter where they are. Cryptocurrency portfolio trackers provide mobile apps or mobile-friendly websites which allow traders and investors to check out the value of their holdings on the go. 

Conclusion 

Cryptocurrency portfolio trackers allow investors to track their assets in an efficient way. All they need to do is to manage their crypto assets from a single dashboard instead of logging in to different accounts. It has become a necessary tool for any cryptocurrency trader or investor who wants to build a healthy portfolio.