Best Crypto Portfolio Tracker to Use in 2023

Why is a cryptocurrency portfolio tracker necessary? To cut a long story short, it will greatly simplify your life. You don't need to manually track your investment. The task of managing a cryptocurrency portfolio could appear challenging. Some claim it's impossible to manage risk while investing in digital currency because of how irregularly crypto values fluctuate due to crypto's inherent volatility. I don't claim that using a portfolio tracker will suddenly make things simple. It will, however, become much smoother. We did our best to highlight the benefits of utilizing a portfolio tracker in this article. Happy reading!‍

Best Crypto Portfolio Tracker -  What Is It?

A crypto portfolio manager is an online service that might be in the form of an app or a website. It makes it possible for you to manage your portfolio effectively as an investor by keeping track of the constantly changing value of your various coins. By combining and diversifying their investments in cryptocurrencies and tokens, crypto investors hope to increase their risk-adjusted returns.

A portfolio tracker can function in a few different ways, but its fundamental concept is that you must be able to keep track of the bitcoin trades you make across all of the many exchanges you frequently use. You could, of course, just launch a spreadsheet on your computer and manually input the value of each deal as you make it. The benefit of a cryptocurrency portfolio tracker, however, is that it enables you to automate this procedure and even obtain access to a far more in-depth evaluation of your prior trades.

The characteristics of automation and customization are the focus of the top cryptocurrency portfolio monitors. It makes your life much easier when every trade you make may be instantly added to and examined by your cryptocurrency portfolio tracker. Additionally, it is much simpler to quickly obtain the precise information you require when your cryptocurrency tracker is tailored to your particular portfolio.

Many cryptocurrency portfolio trackers interact with exchanges to automatically add your trades and produce an understandable graph of your current crypto holdings to achieve the highest level of automation feasible. Of course, not all cryptocurrency transactions take place on exchanges, so users of these apps occasionally need to manually enter their cryptocurrency transfers.

How Does The Best Crypto Tracker Works?

Different crypto trackers work in different ways. The fundamental tenet is that you must be able to keep track of the bitcoin deals you make across all of the many exchanges you frequently utilize. You could, of course, just launch a spreadsheet on your computer and manually input the value of each deal as you make it. But, you can automate this process and even get access to a lot more in-depth reviews of your previous trades using a cryptocurrency portfolio tracker.

The characteristics of automation and customization are the focus of the top cryptocurrency portfolio monitors. When your cryptocurrency portfolio tracker can automatically add and analyze every deal you make, it simplifies your life. Also, it is much simpler to quickly obtain the precise information you require when your cryptocurrency tracker is tailored to your particular portfolio.

Several cryptocurrency portfolio trackers interface with exchanges to automatically add your trades to achieve the highest level of automation. They produce an understandable graph of your present cryptocurrency holdings. Of course, not all cryptocurrency transactions take place on exchanges, so users of these apps occasionally need to manually enter their cryptocurrency transfers.

7 Reasons to Use the Best Crypto Portfolio Tracker

Is the best crypto portfolio tracker a necessity? You can still make it work without it. But your work will be harder. But why? You must manually compute your gain and loss and keep track of each investment if you don't have a portfolio tracker. Sounds exhausting, doesn't it? 

To meet your investing objectives, managing a crypto portfolio requires routine monitoring and upgrading of digital assets. Although there are several portfolio management strategies, they all aim to increase gains and reduce losses.

The majority of cryptocurrency investors use apps that monitor the daily performance of their crypto assets. Because no one technique is effective for every crypto portfolio. So they can take necessary steps to improve. A portfolio tracker is the easiest way to do this.

Let's examine the advantages of a portfolio tracker.

‍Make Wiser Decisions

Investing in any financial market can be both thrilling and stressful. You feel more capable of accomplishing your financial goals when you have control over your investments. A portfolio tracker will help you to achieve that.

‍Better Financial Management

To make sure you're investing in line with the money at your disposal, an automated portfolio tracker will work within your restrictions.

‍Keep a Record of Every Investment You Make

A key component of portfolio tracking is knowing what you've done in the past to assist you to make better decisions in the future. You can always maintain tabs on your money if you use an automated portfolio tracking system.

It's Easy to Find What You Need for Trading and Investing

Do you want to increase the number of cryptocurrencies you own? Does your existing asset allocation need to be thoroughly examined? A portfolio tracker can be used to answer these questions and help identify your specific requirements.

‍Get a Better View of Your Loss And Gains

Knowing the worth of your crypto holdings would be tough without portfolio management tools. An analysis of your cost basis and the growth (or decline) of your positions since purchase is made possible with the aid of a cryptocurrency portfolio tracker.

‍Maintains Emotional Control

If you take the time to formulate your investment thesis, it will be simpler for you to remain composed when the market moves against you. As a result of the inherent volatility of cryptocurrencies, having a game plan in place can help you profit from price corrections and maintain stability during down or bear markets.

‍Necessary for Submitting Annual Taxes

Tax legislation in the majority of nations mandates that cryptocurrency investors disclose their annual trading activities. Running the information through a specialized cryptocurrency portfolio tracker is the simplest approach for an accountant. Even so, not all trackers offer this feature. You must choose the one that best meets your requirements.

Choosing The Best Crypto Tracker - Why Unblinked is Among the Best!

UnBlinked is unquestionably among the best crypto trackers for cryptocurrencies currently available. It is a highly accessible, data-driven crypto storage facility. All cryptocurrency-related data is gathered by UnBlinked in one place. even DEX, CEX, and Defi. Use UnBlinked's bitcoin portfolio tool to keep track of all your previous transactions and balances. Use a single dashboard to analyze your actual gains and losses.

Another benefit that UnBlinked might offer is a thorough revenue report. The Revenue Report Dashboard compiles all of your data in one location. For revenue report periods of three hours, a day, a month, and a year, dashboards are available.

In the time option, you can choose the time and the currency. The currencies that are supported include Bitcoin, KRW, and USDT*. For the data, the statistics convert currencies. We present the conversion rate to convert the data to a particular currency. If no price is supplied, we make several conversions to get the ultimate price.

How to Choose the Best Crypto Tracker

You should think about the characteristics the best crypto tracker should have depending on your particular use case. It's a good idea to test out a few different trackers to choose the one that best suits your needs. Despite this, you should nonetheless believe that an effective crypto portfolio tracker requires a few components.

• ‍Personalization

Personalization is the most important feature to look for in a tracker. Typically, each user has a particular collection of digital items. Their currencies will also be given various weights in terms of the currency's overall portfolio proportion. When you can configure the app's home screen to just display the coins and tokens you own while keeping the news and notifications pertinent to the coins that are most significant to you, you'll get the most out of it.

• ‍Automation

What's the catch if setting up the finest cryptocurrency portfolio tracker takes no more time than opening a lot of tabs and logging into each website?

Find a crypto-tracking app that takes automation seriously because of this. All of this can be set up with a few clicks. You won't need to manually import data from cryptocurrency exchanges. In just a few minutes, connect to every one of them and watch your transactions appear.

• ‍Security

Once a cryptocurrency transaction has been started, it is almost impossible to stop it. Therefore, portfolio trackers require a high level of security.

Portfolio trackers must be cautious not to allow any fraudulent actors in because they connect to their clients' cryptocurrency accounts. Finding out which cryptocurrency portfolio trackers take security seriously is not difficult. Visit their websites to confirm that they utilize two-factor authentication whenever practical and encrypt the data they control.

• ‍Information Accessibility

It is yet another crucial factor. This app serves as your gateway into the cryptocurrency market. You must ensure that you always have quick access to the most recent developments in the bitcoin business. Upgrading to a Pro or Premium edition of a cryptocurrency portfolio tracker can be beneficial. In most cases, it will get you access to more precise data than what is available for free.

• ‍User Friendly

A cryptocurrency portfolio that appeals to a wide audience is the best. People who are just starting as investors in the cryptocurrency markets should find it to be user-friendly enough. In today's environment, having a strong, intuitive design and the user interface is helpful. It shouldn't be difficult to determine the value of your crypto assets. You desire a product that is both aesthetically beautiful and powerful.

• ‍Cost

Most cryptocurrency portfolio trackers are free. Nevertheless, they also provide a premium version. There are additional features in the pro version. You'll need to be prepared to part with some cash if you're looking for more. Find the best tracker for your budget by comparing different ones. Before using a paid pro version, we advise testing the free or basic versions first.

Why Invest with UnBlinked - The Best Crypto Portfolio Tracker

Another excellent method of investing in cryptocurrencies is by using the best crypto portfolio tracker. Numerous fresh cryptocurrency platforms with a variety of services have emerged in the last few years. There is a greater need than ever for cryptocurrency portfolio trackers that can help you keep track of the value of your digital assets, especially with all of these new exchanges, DeFi protocols, and wallets.

UnBlinked is without a doubt one of the best cryptocurrency portfolio trackers available. It is a data-driven, highly accessible crypto storage facility. In this situation, you are not required to employ a pre-made portfolio tracker. It is possible to create your analytical tracking tools. This means that you are free to apply it however you see fit. We simply, creatively, and technically increase the bar for good data analytics.

UnBlinked gathers all cryptocurrency-related data in one location. Defi, CEX, and even DEX. Use the bitcoin portfolio tool provided by UnBlinked to keep track of all your prior transactions and balances. To analyze your actual gains and losses, use a single dashboard.

A comprehensive revenue report is yet another advantage that UnBlinked might provide. All of your data is aggregated in one place by the Revenue Report Dashboard. There are dashboards available for revenue report periods of three hours, a day, a month, and a year.

You can select the time and the currency in the time option. BTC, KRW, and USDT* are the supported currencies. The statistics do currency conversions for the data. To convert the data to a specific currency, we bring the conversion rate. If there is no price specified for it, we perform numerous conversions to arrive at the final price.

5 Ways to Manage Best Crypto Tracker For Better Investment

Using the best crypto tracker is one way to manage your portfolio for a better investment. Now we'll discuss five more full-proof strategies that will work effectively for you.

• ‍Diversify Your Portfolio

Investment diversification is a key component of a successful portfolio management plan. Create a foundation for your portfolio first. Find out which cryptocurrencies have significant market capitalization and a promising future. Second, allocate a portion of your portfolio to stablecoins that you can borrow at a premium. Third, think about little sums put into modest but fast-growing projects.

• ‍Dollar-Cost Averaging (DCA)

Regardless of a token's price, dollar-cost averaging (DCA) is a mechanism that automatically invests a predetermined dollar amount. By investing in regular increments, you reduce the stress brought on by timing issues. In a strong bull market, you can add more shares if the cryptocurrency's price rises. You will be able to purchase even more shares if the price of bitcoin drops because your initial investment in fiat cash will stay the same.

• ‍Copy Trade Whales

Whales are investors who control the market for a certain cryptocurrency and have huge holdings. You might be able to avoid the challenges of figuring out how the market works in the bitcoin space by just copying the successful investors' transactions.

Depending on who you are copy-trading from, it can be effective. On rare occasions, the crypto whale can make an inappropriate trade for your portfolio. But on occasion, you might get lucky when a significant bitcoin industry player makes a successful trade.

• ‍Think of an Exit Plan

Every effective trend comes to an end. Yes, powerful ones can last for far longer than people think. However, the trend ultimately reaches saturation point and flips.

A good trader will think about their exit strategy before entering a deal. You should consider the price at which you will conclude the deal for a profit.

• ‍Control Your Emotion

Cryptocurrency prices can fluctuate wildly, with big swings in both directions. Traders frequently struggle with portfolio management due to fear of missing out (FOMO). Emotions frequently cause people to purchase an item at a high price, just to watch a significant correction set in. Traders and investors who are successful in the market always have realistic goals and plans. There will still be profitable investment opportunities to increase the total value of your portfolio. By removing emotions, technical analysis enables you to construct more methodical trading strategies. There is nothing more to do but simply carry out the strategy.

FAQ

What is the Best Crypto Portfolio Tracker?

A cryptocurrency portfolio manager is a web-based service that can take the shape of a website or an app. Monitoring the continually changing value of your different coins enables you to efficiently manage your investment portfolio. Crypto investors aim to boost their risk-adjusted returns by merging and diversifying their holdings of cryptocurrencies and tokens.

Is a Crypto Portfolio Tracker Safe?

It will depend on you as well. Look for a tracker with strong security measures. You should restrict the control your crypto portfolio tracker has over your crypto assets. It is far better to utilize these crypto-tracking applications just in view-only mode.

With this configuration, the cryptocurrency portfolio tracker will be able to observe all of your assets, but won't be able to transmit them anyplace.

Do Crypto Exchange Work With Portfolio Trackers?

Yes, a lot of exchanges offer their APIs to portfolio trackers.

You can link your exchange account straight to your cryptocurrency portfolio tracker. In reality, you may do your trading directly from several portfolio trackers. It gives you access to an in-depth picture of the entire market and prices at numerous exchanges from a single user interface.

What Crypto Should I Have In My Portfolio?

It varies. Due to its first-mover advantage, Bitcoin is suggested as a secure place for investors to start. A varied portfolio is advised by various specialists who contrast cryptocurrencies with the stock market. Some alternative currencies, like Tether and Ethereum, are rising to fame. Do your research before adding cryptocurrency to your portfolio because it is a dangerous investment.

How Many Coins Should I Have In My Crypto Portfolio?

Experts will offer varying advice. A balanced portfolio will contain three to nine different coins. According to Yale research, a profitable portfolio contains 4% to 6% bitcoin. Due to the volatility risk associated with cryptocurrencies, investors should only add as many coins to their portfolio as they can afford to lose.

Final Word

The best crypto portfolio tracker can be your true ally. A portfolio would be much simpler to maintain with a tracker. But to ensure your success, you must continue to use certain tactics. Such as dollar-cost averaging, exercising common sense, modeling successful traders, etc. You can rely on Unblinked if you're unsure which one to use. But do your homework by learning about the foundations of a native token for a cryptocurrency. Sometimes, the token's current price does not accurately reflect the value it adds to the crypto ecosystem. A comprehensive investigation will reduce the possibility of loss.