Are you looking for a comparison of the best cryptocurrency portfolio trackers? Then you’re at the right place.
As a cryptocurrency investor, you need a cryptocurrency portfolio tracker. If you don’t use a one, then you essentially only have two alternatives.
The first one is to keep track of your investments on a spreadsheet that you update manually all the time, and the second one is to not keep track of your investments at all.
Obviously, both alternatives are not idea, which is why a portfolio is crucial in the fast-moving cryptocurrency world.
In this article we will be comparing the best cryptocurrency portfolio trackers to help you decide which one suits you best, along with giving some insights into the importance of this critical tool.
Best cryptocurrency portfolio trackers compared
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What is a cryptocurrency portfolio tracker?
A cryptocurrency portfolio tracker is tool to monitor your cryptocurrency holdings, and how each and and single one of them is performing. Although there are many cryptocurrency portfolio trackers out there, they all fit into one of the two following categories:
- Cryptocurrecy portfolio tracker App
- Desktop cryptocurrency portfolio tracker
Aside from letting you keep track of cryptocurrency prices, most crypto portfolio trackers also let you add how much you own of each coin and the tool will calculate the value of your total holdings and how much this value fluctuates on a daily basis.
Furthermore, some of the most popular cryptocurrency portfolio trackers not only show you the latest crypto and blockchain related news, but they also serve as a medium for the team members of a coin to share announcements. This is especially useful when investing in smaller less liquid coins, and if you don’t have a lot of time to follow the social media channels of all the coins that you have invested in.
How we selected the best cryptocurrency portfolio trackers
We know that every user has his own preferences and needs when looking for a cryptocurrency portfolio tracker to manage their investments and stay up to date with the market. In order to appeal to the preferences of as many people as possible, this comparison was mainly focused on the ease of use of the portfolio trackers, and how feature-rich they are.
The following points were considered especially important in determining the best cryptocurrency portfolio trackers that you see on the above comparison table:
- Ease of use: As an investor in the hyper-volatile world of cryptocurrency, you will likely be checking your portfolio at least once a day, and during a bull-run where price action is very interesting, most investors will be opening their portfolio tracking app nearly on an hourly basis. Since you will be using it so often, it is crucial that the portfolio tracker is intuitive to use and that the user experience is enjoyable.
- Features: A great cryptocurrency portfolio tracker can do so much more than just showing the price of the coins that you are invested in. In order to obtain 5 stars for “Features” in our rating, the portfolio tracker needs to have an iOS and Android App, great charts, a built-in functionality to show the latest news, custom price notifications, and more.
- Speed: Due to the high load that crypto portfolio trackers experience during times of high volatility in the cryptocurrency space (especially during bull runs), it’s important that it has a solid server infrastructure that ensures fast loading times at all times. In the early days, there were many portfolio trackers that would completely freeze once the Bitcoin price starts going up because everyone started refreshing the app to see the latest price.
- Trustworthiness: A portfolio tracker will not only know which coins you hold and when you enter a position, but it will also know your total portfolio value. This can be a serious security concern if the portfolio tracker you use is not trustworthy. In early 2017, there was a scandal that certain portfolio apps were explicitly looking into the holdings of their users and analyzing them. Portfolio apps that do this should not be used.
- Coins supported: With thousands of coins out there, it is very hard for a portfolio tracker app to support all of them. There is considerable work involved with supporting a new coin, including uploading its basic information, connecting it to exchanges to obtain the price, and writing a brief description. That being said, only supporting the most popular coins will not get a portfolio tracking app 5 stars for this section.
CoinDiligent Staff Writer