How to Keep Track of Your Cryptocurrency Investing

Diversifying your portfolio by trading different cryptocurrencies is better than going with just one. Because of the market's volatility, investing your entire worth in one currency may be a risky move. Thus diversifying your investments can help protect them. 

Keeping track of coins hassle-free will help you keep up with what you need to do right so that your portfolio is well-diversified and balanced.

No. 

You can use a credible cryptocurrency tracking tool for that and free up your time. 

Why use a cryptocurrency tracker to manage your coins?

You do not need to enter your transactions manually when you have an excellent portfolio tracker. The software tracks every transaction, trade, and change in prices so you can tell your portfolio performance at a glance.

Moreover, the tool provides transaction histories so you can review and analyze your past performance. Then you can reference this information to help improve your trading strategies. 

Regularly checking individual online accounts can be tasking. That is why a portfolio tracker that shows you critical information on a single dashboard is indispensable. 

Also, a crypto portfolio tracker helps you add assets and see their value in just a few clicks. It is a plus if your tracker can convert the value of your investments into one preferred currency. 

If you have a versatile portfolio, it may not be easy to assess how each asset affects your net worth.

Luckily, a portfolio tracker can aggregate vital investment information and display your net worth in a single dashboard. 

This feature helps you understand how each asset performs, helping you make buy or sell decisions quickly. 

Update yourself with the latest information that may affect your investments. 

The right portfolio tracker should provide timely updates and market events in the form of push alerts or newsletters. But since these alerts and live feeds can be overwhelming, customize your preferred news on the app. 

You can also receive updates on your market, limit, and stop-loss orders. 

Professional crypto trading requires that you understand how the market works. You may want to know the most profitable trading times and average win/losses.

But some of this data may be scarce, especially for beginners. So consider a portfolio tracker with an in-depth trade analysis. 

Another thing to recall is that your digital assets are subject to specific regulations. You may need to generate tax reports on your investments, for example. 

A portfolio tracker that allows you to export transaction history helps you easily comply with these regulations. Some apps even calculate your crypto taxes and review your tax file — talk of convenience. 

An excellent way to preserve your wealth is to invest in various cryptocurrencies. However, managing multiple online accounts can be time-consuming and confusing. You can instead track coins using portfolio tracking software and monitor all your assets in one place. Over to you. 

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