Importance Of Altcoin Portfolio Tracker – A Tool For Investors?
Altcoins are cryptocurrencies other than Bitcoin. It is launched after the success of Bitcoin and is the first decentralized and open-source cryptocurrency. There have been almost 6,000 Altcoin launches since the inception of Bitcoin.
Importance Of Altcoin Portfolio Tracker
Unlike Bitcoin, some Altcoins have different monetary policy rules that encourage the different uses of the currency. A portfolio tracker is a tool that has been put in place so that investors may keep a track of how well their coins are doing at a given point in time. Let’s check how important is an altcoin portfolio tracker.
What is an Altcoin Portfolio Tracker?
Altcoin portfolio tracker, often known as Altfolio, is a virtual trading platform. Investors will get real-time updates of exchange rates for currencies that they deposited along with the market capitalization of the coin markets.
They are essential for both casual and professional cryptocurrency investors because they allow you to monitor price changes at all hours of the day. It also helps you to track your investments over time. Have you understood the importance of an altcoin portfolio tracker? Now let’s see the factors to be considered while selecting a crypto portfolio tracker.
Factors To Be Considered
- Should secure your coins
A crypto portfolio tracker must ensure the safety and security of your coins. Hackings and other cyber-attacks may make your wallets empty. So while choosing a portfolio tracker, you must consider the safety of your coins and ensure that any two-factor authentication is available.
- Simple to operate
A perfect portfolio tracker must be simple and easy to operate. The layout must be simple to understand, and all trackings must be accessible with just one or two clicks. This also helps to save time.
- Should support a wide variety of coins
Selecting a portfolio tracker that supports a wide variety of coins and all exchanges that you want will do good for you. So look at the coins offered by the platform before you signup. This allows you to trade different types of coins on one platform.
Best Crypto Portfolio Trackers
Below given are some of the best crypto portfolio trackers that are existing today.
Binance is the largest cryptocurrency exchange and it is one of the best portfolio trackers too. It supports almost every crypto coin and there is no tracking fee too. It is specially designed for high-volume traders who need a secure exchange that supports all types of cryptocurrencies.
The most important feature of Delts portfolio tracker is that it comes in the form of an application that supports both android and iOS. It supports around 2000 types of crypto coins and 7 types of exchanges. Anyone who requires a mobile-compatible portfolio tracker can use this one.
Coinstats helps you to manage and track all your crypto coins from one place by connecting your wallet to the portfolio tracker. It also allows tradings using your exchange accounts, credit cards, or apple pay account.
Cryptocurrencies are the most volatile type of currencies and a portfolio tracker is very useful to track the volatility of the crypto market. If you are a crypto investor, then you must understand the importance of a portfolio tracker. We have also provided the best 3 portfolio trackers that are available now. Select according to your preferences and priorities.