It’s imperative to keep track of your net worth as well as your investments and other assets.
After all, what you can track and measure, you can manage — and hopefully manage to grow.
And nowhere else is tracking, measuring, and managing your assets as important as it is with cryptocurrency — an asset that’s especially volatile.
Now that financial giants like PayPal are getting into the crypto space, it’s more important than ever for investors of all sizes to put tools in place to help them keep careful track of their crypto performance and growth in the months and years to come.
Luckily, there are plenty of cryptocurrency portfolio trackers that can help you do just that. To choose your own solution on your quest to learning how to track your cryptocurrency portfolio, follow along as we dive into the key details you need to know, including:
- What a cryptocurrency portfolio tracker is, exactly
- Why you need a cryptocurrency portfolio tracker
- How to choose the best tool for tracking your cryptocurrency portfolio
- One specific tracker that will enable you to manage your crypto right alongside your other assets and investments
What Is a Cryptocurrency Portfolio Tracker?
A cryptocurrency portfolio tracker is a digital platform, such as an app or website, that enables you as an investor to keep track of the ever-changing value of your different coins so that you can manage your portfolio properly.
Cryptocurrency portfolio trackers connect with crypto wallets, which enable individuals to control their digital currencies. Some also integrate with actual crypto exchanges, where investors can trade digital assets, including crypto coins.
It’s recommended that investors who actively trade more than three different types of coins use a cryptocurrency portfolio tracker to track and manage these assets.
Why Do I Need a Cryptocurrency Portfolio Tracker?
There are thousands of different cryptocurrencies.
And, just like fiat currency, the value of each is always changing. This is intensified by the fact that cryptocurrency markets trade 24/7/365.
As you add assets to your portfolio, especially those of the fast-changing variety, the more time you’ll need to spend tracking all of them. That, or you can find a tool that’ll do it for you.
A cryptocurrency portfolio tracker is that tool — enabling you to easily monitor the performance of your cryptocurrencies and other assets all in a single view.
Why is it so important to be able to easily keep track of the performance of your assets?
Because it’s important that you maintain a portfolio that’s consistently well-balanced and well-diversified, which are two key practices for keeping your wealth in good health.
How to Track Your Cryptocurrency Portfolio: Criteria for Choosing The Best Tool for the Job
The biggest problem in the cryptocurrency portfolio tracking world today is that there are just too many of them on the market — all of which are vying for your attention without really explaining which of their features actually make them a good fit for the job.
That’s why, in this section, we’re going to give you the key criteria against which to compare your options when you’re searching for your cryptocurrency portfolio tracker.
Integration with a Range of Financial Institutions
Cryptocurrency portfolio trackers work by using third-party aggregators that enable them to tie into different crypto data feeds to display the info you need to track your assets.
The thing is, most aggregators only work in certain countries and only have the technology to work with certain crypto feeds. That means that not every cryptocurrency portfolio tracker will work in every situation — so be sure to test the tools you’re interested in to make sure they do work in your specific instance.
Kubera, the source of the above screenshot, is uniquely equipped to track different crypto accounts as well as different bank accounts, investment accounts, and more because it integrates with a handful of aggregators that all serve different markets.
This technology enables Kubera’s customers to connect their crypto and other assets in a few clicks to automatically sync investments and see their values in real-time.
A High Level of Security
Cryptocurrency is digital money that is managed by a decentralized network called “blockchain.” This network isn’t owned, regulated, or tracked by any specific authority or institution. This, of course, means that crypto ownership is hard to track and crypto transactions are nearly impossible to reverse once they’ve been initiated.
But what does that mean for cryptocurrency portfolio trackers?
That they better have their security locked down tight.
Since portfolio trackers connect to their customers’ crypto accounts, they have to be careful not to let in any malicious actors that would go through them to get at user logins for a variety of financial institutions.
It’s not too hard to find out which crypto portfolio trackers take security seriously. Check out their websites to ensure they encrypt the data they manage and that they use two-factor authentication whenever possible. Bonus points for trackers that don’t even access their users’ account credentials and let their trusted aggregator services handle that delicate information instead.
Usability Through Automation
One of the key reasons people adopt crypto portfolio trackers is to create a singular dashboard from which they can keep an eye on all of their investments.
But what’s the point if setting up or even using that singular dashboard is just as time-consuming as logging in to each of your individual online accounts to check on performance every few days? After all, isn’t one of the key purposes of a tracker to see how your portfolio is performing in a single glance?
That’s why ease of use via automation is critical in a crypto portfolio tracker — from the first time you input your crypto accounts to every time you use it to check on them moving forward.
In this day and age, no tracker worth your time should be a struggle to use. You should be able to add your assets and see their progress anytime, anywhere in just a few clicks or taps of a finger. This ease of use is typically powered partially by automation. No manually re-updating your assets or their value necessary.
And while most popular crypto portfolio trackers have some automation, that functionality typically hits a wall when it comes to serving international investors. But not so with a tracker like Kubera. If you have investments that originate in several currencies but want to see the value of their holdings in one preferred currency, Kubera is one portfolio tracker that can do that for you — automatically and in real-time. Talk about ease of use!
Entire Portfolio Unification
Like we touched on earlier, smart investors know that diversification is vital to maintaining a healthy portfolio and growing your net worth.
But the downside of diversifying into various asset classes, including cryptocurrency, is how difficult it can be to understand how all of them work together to impact your portfolio.
The solution is looking maybe a little bit beyond the portfolio trackers that bill themselves as “crypto only” and check out more robust solutions that can unify your entire portfolio on the dashboard.
In addition, any portfolio tracker that purports to condense your net worth and other important investment information into a single dashboard better be converting the value of each asset to your preferred currency in real-time — no matter what currency it originated in.
See How to Track A Cryptocurrency Portfolio the Modern Way with Kubera
If you hadn’t noticed before, we think Kubera is a pretty awesome crypto portfolio tracker.
And, no, we’re not just saying that because we want to sell you something.
We’re saying that because we truly built — and continue to improve — Kubera for the modern investors of the world who are tired of their time, money, and sensitive data stolen by the same financial tools that promise to help them.
At Kubera, we’re a small team of individual investors who are always looking for new ways to diversify our portfolios. And in that quest, we realized we had a lot of scattered assets on our hands with no system for managing all of them for ourselves or for our children to whom we would eventually pass them down.
That’s why we created Kubera — the first true all-in-one portfolio tracker that will help you manage both crypto and fiat accounts side by side. Which accounts? Check out the full list of banks, brokerages, crypto exchanges and wallets, and financial institutions to which Kubera connects. In addition, you can add tickers for individual stocks and cryptocurrencies to your Kubera dashboard to keep an eye on the market at all times.
Aside from financial accounts, with Kubera you can measure and manage everything from the family heirlooms you’ve acquired to your most important estate planning documents (really!). For homes, vehicles, and web domains specifically, Kubera integrates with leading asset experts (such as Zillow in the U.S.) that feed your Kubera dashboard with real-time market data for your important investments.
If you’re a financial professional or would like to use Kubera (for free!) with help from your financial professional, get in touch at firstname.lastname@example.org to learn about our white-label solution.
Sign up for your affordable Kubera subscription right now and see if we’re right about being the single best tool for keeping track of your crypto investments and beyond.