If you’re reading this, Bitcoin is probably not the only digital asset you have faith in. But the more coins you own, the harder it gets to monitor their prices and plan your game sensibly. In our busy lives, it is not always possible to track crypto prices on a regular basis, especially if it is not your full-time job.
On top of that, crypto is known for its volatility and things can turn upside down in a matter of hours. And that’s when crypto portfolio trackers may come in handy.
Why Use Crypto Portfolio Trackers
Basically, there are two reliable ways of handling your digital investments: do everything by yourself or use the help of a crypto tracking software.
The main benefit of the DIY way is that you will become a pro a lot faster. Monitoring prices, studying the market, and accumulating general knowledge on how to do so correctly is the perfect way to learn and succeed. The downside of this method is that progress needs time and dedicated efforts.
Alternatively, a portfolio tracker can do the price monitoring for you. All you need to do is connect it to your wallet and it will notify you of important moves and changes. You can use crypto trackers on your phone or PC and customize them as you like.
Although crypto trackers are convenient, our tip is not to rely on them completely (that’s never a good idea!) – do your own research and get comfortable with the market instead. With time, you might even be able to manage your crypto portfolio without any external help.
So who will benefit from using the software the most?
- Crypto beginners
Starting with anything financial and not just crypto can be pretty intimidating. We’ve all been there. If you’re completely new to the investing scene, it might be a good idea to use a crypto tracker. This way you will learn what to pay attention to and see how the market works.
- Advanced investors and crypto traders
If you’re consistent enough in your daily crypto routine, portfolio trackers can act as an extra pair of eyes. Most of the software is highly customizable so you can adjust it according to your needs and make the best out of your crypto investing experience. And if you’re trying your first steps in the crypto trading field and, unlike long-term holders, need to act fast, the help of the tracker can be significant too.
An Alternative to Portfolio Trackers
But how does one manage their portfolio without a tracker? Many experienced investors use Google Sheets to track their crypto, stocks, shares, gold, and other assets all in one place. It is convenient, it pushes you to study the market and be consistent. Also, this way you don’t need to trust in somebody else’s code and learn to rely solely on yourself.
Whether you choose to go with a crypto tracking tool or practice the DIY method, there are a few things you need to keep in mind.
Before going on with analyzing the top free crypto tracking softwares, let’s review the basics:
- Do not hold your assets on exchanges! It is unsafe and deprives you of being in control of your own money. Transfer your assets to a secure cryptocurrency wallet instead.
- When choosing a crypto tracker, apart from security, pay attention to these three things first: ease-of-use, compatibility with your wallet, and availability of the coins that you need.
- Newcomers can consider limiting themselves to three to four coins, to begin with. This way it will be easier to learn the basics and evaluate how much time you need to manage a bigger portfolio.
- If you know that you have a FOMO problem, try using the PC version of your crypto tracker instead of the mobile one. This way, you will spare yourself from late-night notifications and problems with anxiety.
Now, if you decide to give crypto trackers a chance, these are the safe free options that you can choose from.
The Crypto App
The Crypto App is a promising portfolio tracker that allows you to monitor over 3,000 tokens and coins. You can add them to favorites and make use of the responsive sorting, filtering and searching. The app offers various price charts, technical indicators, price alerts, and widgets.
Besides, it lets you stay updated with the crypto news from major media portals and get the best out of the market analysis tools.
One of the most well-recognized Bitcoin and crypto trackers, Delta App, is famous for its stylish design, a wide range of supported coins (over 7,000) and exchanges (over 300), and multiple tools for managing your portfolio.
The app paints a comprehensive picture of your total balance, as well as all time profits and losses or just during the last 24 hours. It delivers coin prices, market charts, and lets you create alerts and watchlists. You can create multiple portfolios and use Delta on any device of your choice.
You can use the highly-customizable Coin Stats crypto portfolio tracker to manage your portfolio manually or sync your wallet. It is available on multiple devices: iOS, Android, Web, as a Telegram Bot or even on your Apple Watch, and more. With Coin Stats you can set alerts, get the latest insights on what’s going on with the market, and stay updated with all the essential crypto news.
Apart from providing all the must-have crypto tracker features such as price monitoring, market data, and news, Blockfolio allows you to connect your Slack account in order to stay updated 24/7. The app supports more than 8,000 coins and over 300 exchanges and allows you to receive updates directly from the tokens’ team leaders, thanks to its new Blockfolio Signal feature.
You’ve probably heard of CryptoCompare, an independent crypto market data provider that was founded in 2014. Well, it also has an app that can help you track your precious coins!
With over 5,300 coins and 240,000 pairs, the app can help you set your watchlist, provide you with detailed coin view, switch between different portfolios, and be the first to get all the important industry news.
The Bottom Line
When used wisely, a crypto portfolio tracker can become your trusty ally in the world of cryptocurrency trade or investing. However, it is always better to treat them as additional assistance rather than depend on the software to do the hard work for you.
It might be a good idea to start with using one of these apps in order to learn more about the market and later on create your own spreadsheet when you decide to get serious with your money-making strategies.