As cryptocurrency is popularized and new ICOs are launched, the number of tokens in the portfolio of the average cryptoinvestor is also growing. And these tokens usually are scattered across several accounts on cryptoexchanges and blockchain wallets. Decentralization is not always justified, whilst it is good for blockchain platforms, it can be very inconvenient for cryptoinvestor trying to manage his capital. The more different tokens the user acquires, the more he wants to systematize his capital and keep it under control. And then a cryptocurrency portfolio tracker comes to help the investor.
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What is cryptotracker and how to use it?
The cryptocurrency portfolio tracker is a special service that allows you to track changes in the investor’s cryptocurrency portfolio. The program synchronizes with cryptoexchanges and wallets. And then transmits the changes in the price for a specific asset to a user’s computer or smartphone.
The user specifies in the application all the necessary data on the tokens he bought (volume, purchase price, cryptoexchange). And the program gives information about how much the price of the asset has changed. Also with the help of a cryptocurrency portfolio tracker you can get additional information and statistics. E.g. the total cost of a cryptocurrency portfolio.
What are the cryptotrackers’ types, and which of them are the most popular among users?
In order to understand exactly how a cryptocurrency tracker works, we need to consider several specific examples. Each application has its own features and advantages. At the moment, there are at least ten popular cryptotrackers, and apart from them there are also smaller applications, as well as various methods of accounting for capital using standard tools, for example, Google spreadsheet.
The quality of the cryptocurrency portfolio tracker depends on several parameters. In particular, it is important that the application synchronizes with as many cryptoexchanges and wallets as possible, and automatic import of transaction data from accounts on exchanges to the tracker is also necessary. Several applications meet these requirements, in addition, there are services that have their own original features.
Altpocket is not just a cryptotracker, but a social network where users can share their portfolios, offer each other promising investment solutions and share other information. At the same time, nothing prevents investors from making their portfolio private and using Altpocket as a regular tracker.
The service synchronizes with Bittrex and Poloniex cryptoexchanges, and recently Binance joined the list. Changes in asset prices on these trading sites are transmitted directly to the program. And users who have accounts and open transactions on these exchanges can track progress in the passive mode without spending time tuning.
If you wish, you can input information about transactions manually. This feature will be useful for users who have assets on other cryptoexchanges or wallets: they can enter all the data into the tracker manually, and the rates will be automatically refreshed according to Bittrex or Poloniex. In this case, some error is possible due to the difference in rates, but it is possible to monitor the overall dynamics.
Altpocket has a reputation of the one of the most popular cryptotrackers, but the service has its drawbacks. Altpocket works as a web service, and some users abandon this tracker in favor of mobile applications. Also sometimes there are system errors, because of which there may be discrepancies in the figures.
At the moment, Altpocket is completely free, but the project team announces plans to monetize the service, so it is possible that some services will soon be provided for a fee.
Cointracking is one of the very first trackers (available from April 2013), and for 5 years the service has been constantly evolving, offering users new opportunities and connecting new exchanges and purses. At the moment, Cointracking synchronizes with several dozen of the most popular cryptoinstruments.
Users can synchronize the service with their accounts on those sites that support Cointracking connection, and receive all data in automatic mode. Deposits and deals on other platforms can be entered manually, all changes to them will be broadcast also in real time, but quotations will be used from synchronized services.
In addition to the standard tracking of the dynamics of changes in the exchange rate and the profit/loss of transactions, Cointracking offers an advanced toolkit for analytics. You can build charts and use various indicators. There is even the possibility of automatic taxes calculation, depending on the size of the profit received from investments in cryptocurrencies.
Cointracking is available both as an online service and as a mobile application.
Of the shortcomings only a little bit outdated design can be noted, which has not been updated since the creation, and the limitations of the free version. Without additional payment, you can synchronize applications with only two accounts at a time. And track no more than 200 deals. There are also paid, extended versions of Cointracking, however the annual subscription fee is about 0.01-0.02 bitcoins.
Blockfolio is a popular but somewhat ambiguous service. On the one hand, the application has a nice design, works well on mobile devices. And offers all the necessary services for tracking cryptoportfolios. On the other hand, some investors, especially those who conduct active trading, lack a browser application. Blockfolio is available only on smartphones and tablets.
The service supports synchronization with many cryptoexchanges, and almost instantly updates data on quotations of cryptocurrencies. In addition, the platform presents a record number of tokens which price can be monitored. This quality is especially valuable for those who like to invest in exotic and high-risk assets.
It should be taken into account that the agreement on the confidentiality of the service states that Blockfolio has the right to transfer data from user accounts to third parties – thus, the full confidentiality is impossible.
Delta is the main competitor of Blockfolio on the mobile cryptotrackers market. The application is relatively young – has been working since 2017, but the service is dynamically developing. They also call it “an improved version of Blockfolio”. The tracker has the same advantages, including mobility and number of tokens. At the moment the application supports more than 2000 coins.
In this case, the Delta team promises to add a version for the PC soon as well as to publish API. For each cryptocurrency, the application offers detailed analytics. And also tokens only released on the ICO, and not even listed in the main crypto-exchange tests are available for detailed analysis.
If for some reason you do not want to use off-the-shelf cryptocurrency portfolio tracker, you can create your own cryptotracker on the basis of such a familiar service as Google Spreadheets. And you can create your portfolio both manually and using ready-made templates.
Thanks to various plug-ins and API, you can configure synchronization of Google services with all large cryptoexchanges. And the functionality of tables, with proper use, is wider than in any other service. Therefore, Google Spreadheets can also be considered as a full-fledged cryptotracker. Or, more precisely, a tool for creating your own tracker.
The services above are the most popular at the moment. And together they include all the most popular functions for tracking cryptoportfolios. Nevertheless, new applications are coming to the market, offering new original solutions. Modern cryptoinvestors do not lack a choice of cryptotrackers. They can only competently approach the issue of selecting tokens in their portfolio.