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What Is A Portfolio Tracker

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Jan 11, 2023
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5 min read
what-is-a-portfolio-tracker

This blog post will cover:

  • How to choose a portfolio tracker?
  • Is it safe to use a portfolio tracker?
  • Several examples of portfolio trackers
  • CoinStats
  • CoinTracker.io
  • Delta
  • Conclusion

For most crypto holders it is very important to keep track of all the funds they possess, which usually includes several points, such as managing investments and DApps, monitoring the market situation, and accessing investment opportunities. To help people not get lost in all the information portfolio trackers were created.

Portfolio trackers come as mobile applications, websites, or even spreadsheets that can be self-created. The main purpose of such a tracker is to give users an opportunity to check all investments without the necessity to switch between platforms. Portfolio trackers can be useful in a lot of ways. They usually provide a wide set of instruments, including research, suitable for both professional and casual investors.

How to choose a portfolio tracker?

There are several criteria that should be acknowledged while choosing a tracker:

  • Cost
    
    Trackers vary in price, however, most of them allow a free probation period or a number of free instruments. 
  • Assets
    
    Trackers provide a different number of assets. Thus, it is important to make sure that all the assets you need are supported by the platform chosen.
  • Timing
    
    Trackers are supposed to post real-time data and update quickly. 
  • Sync
    
    Usually portfolio trackers are able to sync all your investing accounts. It is a crucial feature for the productive usage of these applications. 
  • Easy to use
    
    Undoubtedly, the interface should be intuitive and user-friendly to make the experience with the platform comfortable.

Is it safe to use a portfolio tracker?

One of the main questions is how to make crypto usage as safe as possible. It is a well-known rule not to share your data with any third-party service. The good news is that portfolio trackers usually have different ways to set up control. The best method is to use a view-only mode, which can easily protect cryptocurrency owners from fund loss. However, it is always very important to check all settings and read the terms of use before starting to use a portfolio tracker.

Several examples of portfolio trackers

CoinStats

CoinStats combines a portfolio tracker and DeFi wallet, which makes the platform even more useful. Aside from the basic features, CoinStats provides a number of unique tools, such as:

  • Coin insights and score.
    
    With this feature users are always informed about the general market situation for coins selected. 
  • Portfolio analytics.
  • Alerts that can be customized.
  • Integrations with more than 300 wallets and exchanges.
    
    There is no need to leave CoinStats to make swaps with wallets supported. 
  • Buy crypto with fiat
  • Asset tracking
    
    With the help of CoinStats users can track their DeFi liquidity pools as well as NFTs. No need to use separate apps for these purposes.

It also offers a premium plan that supports extended functionality. For example, more detailed analytics, portfolio export, and prioritized support. Moreover, premium users get the right to try new features of the platform first.

CoinTracker.io

CoinTracker supports more than 300 exchanges and more than 10,000 cryptocurrencies. It has an additional function that optimizes the portfolio in terms of taxes. This feature may come in handy, since a lot of countries have started to tax income related to crypto. However, the rules are still not very clear. Thus, a platform that can follow the legislation and inform users about it may help a lot. It also provides an opportunity to check your portfolio from anywhere with their mobile app.

Delta

Delta is a multi-asset tracker. It is not limited to cryptocurrencies only. With Delta users can track their stocks, futures, and currencies investments. Delta supports more than 300 cryptocurrencies and stock exchanges. The unique feature of Delta is NFT support. It allows users to browse hundreds of NFTs collections within the application.

Conclusion

With the growth of popularity of crypto investments, it is getting more and more urgent to be able to have quick access to analytics and management of your assets. The amount of platforms is increasing and sometimes it is not convenient to switch between them. A portfolio tracker is an excellent solution to avoid confusion and keep your investments in perfect order.

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