Cryptocurrency portfolio management software keeps track of your various digital currency holdings. Using this program, you may keep tabs on the performance of each coin and do various analyses.
Cryptocurrency exchanges’ feeds and pricing updates are readily available through several portfolio management systems. They may even send you an email when there are big changes in the market.
As popular as Bitcoin may be, it shouldn’t be your only cryptocurrency investment. The ultimate objective is to have a diverse collection of cryptocurrencies.
Several investors have divided their money among a variety of cryptocurrencies in order to minimize their exposure to risk. But how do you decide which of the over 3,000 cryptocurrencies to invest in?
Investing in digital currencies requires significant research and understanding, according to crypto specialists. What you’ve said is a good idea. It’s the same with traditional assets like stocks and bonds. “An investment in knowledge pays the highest interest,” as Benjamin Franklin famously stated. Before making any investment, educate yourself to the best of your ability.
What Is a Good Cryptocurrency Portfolio Size?
An investor’s portfolio should contain a variety of assets and cryptocurrencies, but the amount of assets and cryptocurrencies is up for debate. More than 100,000 backtests show, however, that investors may maximize their profits by holding no more than 20 different investments at a time. In backtesting, past data is used to assess how well a potential investment plan will do in the future.
Investors who have more than 20 cryptocurrencies in their portfolio will benefit from using an app or piece of software that keeps track of their holdings.
Cryptocurrency Portfolio Trackers
An investor’s ability to keep track of their assets is greatly enhanced with the use of cryptocurrency portfolio trackers. They don’t have to use multiple logins anymore.
Instead, consumers will be able to keep track of all of their crypto assets in a single location. This type of tracker allows bitcoin investors to keep tabs on their gains and losses across all of their various assets. They may also check current market prices and set up notifications for important events.
On the basis of downloads and star ratings, we compiled a list of the top three bitcoin portfolio trackers available for Android phones and tablets.
- 1 million people have downloaded FTX (formerly known to be Blockfolio), awarding it a 4.8-star rating.
- More than 500,000 people have downloaded Delta, and it has a 4.5-star rating on the iTunes store.
- There are over 100,000 downloads of BitUniverse, and it has a 4.6-star review rating.
These three bitcoin portfolio trackers have the most downloads, although there are hundreds of more. Each one has its own characteristics, but they all provide market price updates to its customers. Investing dashboards save time and effort by showing users how their money is performing.
Investors in cryptocurrencies may have anywhere from three to more than twenty different cryptocurrencies in their portfolios at any given time. It takes a lot of work and might be difficult at times to keep track of all of them. Investors can monitor their assets from a single location with the help of bitcoin portfolio trackers.