An increasing number of institutions are entering the crypto market. Also, considering the resounding advice on diversifying your assets, cryptocurrency portfolio tracking apps are on the rise. A portfolio tracker can make a huge difference even for investors holding crypto long term, not to mention, those trading on a regular basis.
We can see many emerging platforms using technology, just like the ones available in other asset classes. Let’s look at the differences between them and determine which ones are the best.
- What is a Crypto Portfolio?
- How to Build a Cryptocurrency Portfolio
- The Best 5 Crypto Portfolio Tracker Apps
- Which Crypto Tracker is the Best?
- How Long It Takes to Build a Crypto Portfolio
- What Coins to Add into a Cryptocurrency Portfolio
- Cryptocurrency Portfolio Management
What is a Crypto Portfolio?
A cryptocurrency portfolio represents a collection of investments a trader owns across different types of crypto assets. For example, when a trader owns ten coins and tokens, they collectively comprise their portfolio.
A portfolio reflects the trader’s/investor’s style, risk tolerance, and key components of their market strategy. Investors normally go for several established currencies in order to hold them and perform a limited activity with them. Alternatively, day traders will have less stability in their portfolio.
How to Build a Cryptocurrency Portfolio
The first steps to build your portfolio are all about the planning:
- Know what you can afford to invest in.
- Decide on your trading/investing style.
- Determine how you will allocate your funds.
- Decide which cluster of the crypto industry to get into.
When you are ready to make investments, you need to:
- Study details relevant to your cryptocurrencies of choice.
- Analyze the price-to-earnings ratio.
- Assess the total return.
- Start purchasing – however, this is a complicated topic for another time.
Then you need to maintain your portfolio. Cryptocurrency portfolio apps and trackers allow you to view your assets in various wallets and on exchanges. Even though you can manage to monitor your assets by visiting your wallet and exchanges directly, it can be a hassle. So, if you want to avoid unnecessary actions, cryptocurrency wallets with a tracker or a platform with wallet synchronization can save a lot of time and effort.
The Best 5 Crypto Portfolio Tracker Apps
Here are top portfolio trackers with a deep dive into their functionality so you can get insights into which ones would best fit your needs.
1. Delta Portfolio App Review
With over a million downloads and raving reviews, Delta has proven itself as another leading crypto portfolio tracking and management app. It shows a clear overview of profits/losses and runs fast with minimal server downtime.
- Charts with coin analysis, volume, market cap, etc.
- Separate portfolio tracking feature and a watchlist
- Advanced price action alerts for both trading pairs and single coins
- Delta Direct – a convenient communication tool for crypto projects
- Integration with Medium, Steemit, RSS blog, and Twitter channels
- Account Recovery – restoring the app to the last known state using generated dynamic recovery code.
If you purchase the Delta Pro, which is $60-80, you get access to these functionalities:
- Creating and managing up to 10 different portfolios
- Unlimited number of exchanges
- Syncing data with up to five devices
We’re happy to introduce Delta 3.0 – available for everyone on iOS & Android!
– Gorgeous new look 🖤
– Filter on top 100 coins in the markets section
– PRO exclusive Monochrome Mode
Read all about this major new release via https://t.co/ezp5lIyZXa
— Delta Crypto Portfolio Tracker (@get_delta) December 17, 2019
The tracker is useful for low to medium-level traders, especially mobile-based. Even though you get ample information about your assets, portfolio tracking is structured into a compact set of features.
2. BlockFolio Review
BlockFolio has an immense reach of over 5 million people using it to manage their cryptocurrency portfolios. There are 400+ teams on Blockfolio Signal, including teams and leaders from Monero, DASH, NEO, Ethereum, NEM, ZCash, 0x, etc.
There are zero ads and no hidden costs, and you get the following set of utilities:
- Real-time Blockfolio Signal updates and pricing into Slack groups
- Multiple portfolios divided into separate categories
- Notification alerts on price levels
- Automatic updates between your portfolio and crypto exchanges
- Secret PIN for better security
- Data recovery and transfer if a device gets replaced or stolen
- Latest crypto news feed from social media and crypto publications
- Customizable explore section
It is probably not the best choice for full-time traders due to manual transaction entries. However, the available functionality is more than enough for more casual traders wishing to perform transactions very quickly and efficiently.
3. CoinTracking Review
This tracker is far more than just a spreadsheet of portfolio information. CoinTracking makes sure you make an informed decision by offering a range of features:
- Interactive charts for trades and coins
- Connection to popular exchanges using API
- Realized and unrealized gain/loss
- Tax calculator with 12 methods
- View of historical price data from the last 10 years
- Eight supported wallet imports
- Real-time trade profitability and set price alerts
There is also an experimental price prediction feature, which may prove to be very useful in the future. But it is too early to tell how accurate they are.
The prices for Pro or Unlimited plans range between $65 to $1090 (or an equivalent amount in cryptocurrency).
You can visit the CoinTracking official channel for short tutorial videos.
CoinTracking is aimed at more serious cryptocurrency investors and full-time traders. It works well when you plan on holding cryptocurrencies for a long time. However, the best use for the tracker is for regular buying/selling.
4. Cryptocompare Review
In addition to standard crypto tracker functionality, Cryptocompare offers cryptocurrency wallets comparison, mining guides, reviews, news, analytics, and a lot more. Many people call it an entire crypto ecosystem.
The platform’s most notable features are:
- Cloud-based platform
- Management of multiple portfolios
- Options to make portfolio public or private
- Risk analysis feature
- ICO tracker and timeline function
- Shows realized profit/loss and total revenue
- Possibility of adding notes
📊📊 *New* We have just released an update to our Exchange Benchmark, covering Q4 2019…
The Benchmark ranks 160+ spot exchanges across 64 metrics & serves as a guide to identifying the lowest risk exchanges in the industry.
— CryptoCompare (@CryptoCompare) February 12, 2020
Cryptocompare is a one-stop solution for new and infrequent users. However, more experienced traders may find its functionality and overall user experience rather incomplete for their needs.
5. KryptoGraphe Review
The app has not been on the market for a long time. However, it’s managed to achieve a decent level of success through the availability of these features:
- Exchange integration
- Existing mobile or hardware wallets integration
- Real-time profit, loss, and percentage growth or decline
- Portfolio view by coin, exchange, and period
- FIFO-based accounting
- List of top coins by market capitalization
- News section
KryptoGraphe offers an interesting feature of portfolio comparison. You can see the percentile performance of other traders using the same platform or even the top cryptocurrency investors.
The basic plan is free. Premium and Gold cost $4.99 and $6.99 monthly. The differences are in sync exchanges, portfolio limits, coin watchlist, alerts, and tax reports.
The KryptoGraphe app is still somewhat hard to position. What is now known is that it performs all of the necessary functions that a crypto management platform should. It will be easier to see what kinds of traders it suits as new functionality is added.
Which Crypto Tracker is the Best?
Choosing a cryptocurrency tracker is a personal matter because different apps and programs suit different traders. That said, there are some standard criteria, which the app needs to meet. These qualities include:
- Affordability – our reviewed trackers offer free versions, which is vital. You shouldn’t be forced to purchase a service you have not tested. It is also important that the costs of Pro versions remain affordable in case users need to access added functions.
- A range of available coins and exchanges – there is no reason to have a tracker if it can’t handle your complete digital asset portfolio. Check if the app connects to all of your coins and exchanges to have a one-stop solution.
- Advanced functionality – the tracker should have additional useful features on top of all the basic functions.
- Safety and security – the decentralized nature makes cryptocurrencies hard to trace. Therefore, the stakes are high, and the platform needs to have two-factor authentication and multi-layer encryption at least.
- Clear layout – the flow of your actions should be seamless. With just a few clicks, you should be able to see how the value of your portfolio changes or find the value of each coin.
With these criteria in mind, here is an overall rating on the best cryptocurrency trackers currently available on the market.
How Long It Takes to Build a Crypto Portfolio
There is no set timeline that everyone follows in terms of building their crypto portfolio. In theory, you can build a portfolio in a day. However, most of the time, people take a longer route in order to achieve more sustainable results – usually six months to a year.
In other words, you either find a profitable opportunity to seize instantly or wait until there is another drastically good one. In the latter case, it may be a huge drop in the price of a top currency. Regardless, you will start building your portfolio once you purchase the first cryptocurrencies.
There are several processes that are worth spending time on:
- Research on currencies, exchanges, trading and tracking platforms
- Establishing profit targets
- Structuring an investment portfolio
- Choosing crypto assets
- Rational decision making
What Coins to Add into a Cryptocurrency Portfolio
There are thousands of coins to choose from. Here is how you can simplify the process of deciding which coins to purchase. Before purchasing a coin, ask the following questions:
- Is it technically secure and sound? There is no need to explain this point.
- How many actual users are there? The success of a coin can be overhyped in the media.
- What exchanges accept the coin? Being listed on reputable exchanges is a good sign.
- Does it have intrinsic value? There should be something that backs up that named crypto.
- Is it managed by some defined entity? Complete decentralization is not necessarily a good thing because someone should be held responsible.
If you spread out your portfolio across coins with different use cases, you can decrease the risks associated with trading cryptocurrencies. Below are just a few examples to give you a general idea of the types of currencies available on the market.
|Types of Cryptocurrencies||Examples|
|Store of Value||Bitcoin, Digix|
|World Computer||Ethereum, NEO, EOS, Cardano, Tron|
|Payment Rail||Bitcoin Cash, XRP, Ripple, Monero, Dash|
|Connected IoT||IOTA, Waltonchain, IoTeX|
|Cloud Storage||Siacoin, Storj|
|Decentralized Applications||PayFair, TronMine, Nestree, StemQ|
|Decentralized Finance||Maker, Augur, Local Ethereum|
|Exchange Utility Tokens||Binance Coin, Huobi, KuCoin Shares, Bitfinex|
|Tradable Digital Assets||WAX|
Cryptocurrency Portfolio Management
If you want to generate earnings, here are important points to keep in mind after building a portfolio:
- Regularly check the situation with Bitcoin. Most altcoins have some degree of dependency on the Bitcoin price.
- Categorize your assets and look at the bigger picture. If you have a few different categories of coins (which is preferable), you increase the chances for success.
- Turn your mistakes into learning opportunities.
- Use any tools that you need. Don’t be discouraged from using automated tools, tracking instruments, etc. even if they seem confusing at first.
- Set stop losses for active trading.
- Don’t get greedy. Maintain a reasonable approach – sometimes it is better to pull out while you have some profit instead of risking it all.
If you follow the rules and build your portfolio correctly, you don’t want all that effort to go to waste. The ability to view and analyze your assets in a separate space, going from research to execution, has great value for your trading activity.
Trackers bring a calming, structured element into the chaotic crypto market. Out of all portfolio-trackers presented, you should choose the one suitable for your experience level. Other than that, they all fit the parameters of a quality tracking tool.
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