General Knowledge Crypto Basics

5 Reasons Why a Crypto Trader Needs a Portfolio Tracker

If you’re serious about growing your digital currency, having a cryptocurrency portfolio tracker is essential!

What is a Crypto Portfolio Tracker?

A cryptocurrency portfolio shows the digital currencies that you have invested in over time. It tracks your trading process and reflects your available assets in real-time. Cryptocurrency portfolio trackers are useful especially for traders who are buying and selling different kinds of digital currency such as Bitcoin, Ethereum, and so on.

What are the Benefits of Using a Crypto Tracker?

#1 Free to Use

Many automated portfolio trackers are completely free to use. While you will likely have to subscribe to a premium service to access more advanced trading features, there are plenty of free alternatives on the market for you to choose from. It’s more convenient compared to using spreadsheets to manually update your numbers.

Portfolio Tracker: Packages

#2 Overview of Real-Time Prices

Many cryptocurrency portfolio trackers provide a real-time overview of the average pricing of different digital currencies. It’s an excellent way to stay up-to-date, letting you make informed decisions right when the opportunity strikes. You’ll be notified of price changes so that you don’t miss out.


#3 Simplified Management

As you invest in more and more cryptocurrencies, you will need a straightforward tool to help you manage your crypto portfolios in one place. Cryptocurrency portfolios support tens of thousands of cryptocurrencies including Bitcoin, Litecoin, Ethereum, Stellar, and so on. With all of your cryptocurrencies in one place, you don’t have to hop from one platform to another just to manage your assets.

Portfilio Tracker:Wallets and Exchanges

#4 All-in-One Dashboard

Portfolio trackers offer a clean dashboard where you can view all of your digital assets across multiple exchanges. Information is presented in an organized manner, making it understandable for traders who are just starting. The best part is that you can often choose how data is presented. Pie charts, bar graphs, etc. — it’s all up to you.

Portfolio Tracker: Desktop Dashboard

#5 Copy Trading

Some cryptocurrency portfolios let you copy an established trader’s moves, taking away the guesswork involved with cryptocurrency trading. This is ideal for first-time traders who want to reduce the risk and earn money fast. It’s a great way to earn passive income — as long as the trader you’re copying from succeeds, so will you!

Portfolio Tracker: Performance vs. Others

Bottom Line

Having a way to manage all of your digital assets in one place helps you record how many coins you have in each wallet. Should there be another crypto hack, you’ll know exactly how much you had of each coin. Also, recording your activity is necessary when the time comes to file your taxes. Having accurate records lets you save time down the line.

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