Crypto portfolio management is the science of selecting and overseeing a group of investments that meet our long-term financial objectives. It’s an art that requires great discipline and the right tools, yet we can all be crypto portfolio managers. The ACCOINTING.com Desktop all-in-one solution is the best tool available for crypto portfolio managers of all experience.
Your portfolio’s Total Value, 24-hour Value and Percentage Change
One of the first things you need to understand is that the key to profitability is discipline. In order to understand your profitability, you need to undergo the task of cleaning several exchanges and wallets’ historical transactions from your portfolio and that can be a tedious endeavor. However, that’s not the case with ACCOINTING.com. You can get a clear and detailed picture of your performance in one place by automatically importing your transactions via API keys or connecting directly to specific exchanges. Second, you’ll get every bit of information about your tokens with real-time market data, from the Total Value of your portfolio to your 24-hour value and percentage change.
Feel free to change the different timeframes on the chart to get an intuitive representation of your performance.
The New Benchmark: Your 24-hour Performance vs Others
Yet, how do you value your performance? Do you have a defined benchmark that you’re tracking? ACCOINTING.com lets you compare your 24-hour performance to other users. This way, you can quickly determine if you are outperforming the market or taking a bleed with everyone else.
A Deep Dive Into Your Portfolio
Your Positions and Performances
After an overview of your portfolio; it’s time to dive deeper into your positions to determine if the right calls were made. Scroll down to get a glimpse of the distribution of your portfolio. Are all of your positions underperforming the ACCOINTING.com community? Are your heavy bags pulling your performance down? The quickest way to identify the losers is to analyze each holding. There’s no need to login into your different exchanges and wallets to get a detailed picture of your portfolio.
Comparing Profits & Losses to The Current Market Price
Compare the Price/24H-Change to your Average Purchase Price. After you’ve done benchmarking the market, ACCOINTING.com provides a bar graph representing your Loss/Profit and the Value/24H Change for each position.
Buys (Green Dots) and Sells (Red Dots): Are You In The Red?
Click on each position, and the chart displays the performance of the corresponding coin. Visuals (charts) are handy to get a sense of the trend (remember to ride the trend, not fight it!). The green dots represent buys, and the red dots sells. Liquidate or cut losses on green dots that are at the peak of the chart. Try buying cheap and selling expensive. Next, compare the performance of your different positions. By selecting different positions, the chart will plot them together, providing a visual representation of where your money is best allocated. If the chart depicts a long-term downtrend, you can assign that capital to bullish coins, like bitcoin.
Analyzing Your Portfolio Allocation and Take the Next Step
Portfolio Allocation in Exchanges and Wallets
Scroll down to the Portfolio Allocation tool to see what percentage of your portfolio is liquid or in exchanges. If most of your portfolio is in exchanges, avoid adding extra funds and move some funds from the lagging positions to your winners (from XTZ to LINK).
After this, click on the different exchanges to see what coins you can quickly liquidate. By analyzing the exchanges’ distribution, you can easily login into your account and perform the corresponding operations (sell XTZ and buy LINK).
Looking for Liquidity Using Your Realized and Unrealized Gains
Finally, go to the Performance tab under portfolio to look at your XTZ realized and unrealized gains. If you have some realized gains, selling that amount to break-even can be a source of liquidity to add to your outperforming positions.
ACCOINTING.com is an all-in-one solution that enables you to make informed decisions like a professional Portfolio Manager. Analyzing your portfolio and comparing your performance to a unique benchmark is only half of the work. Be constant and disciplined, and in no time, you’ll be able to brag to your friends. Trade safe.