As the amount of crypto transactions increases every year, the number of crypto portfolio tracker users increases as well. Many people are still skeptical when it comes to these apps and don’t know if they really provide any benefits.
So let’s discuss the 5 reasons why people like crypto portfolio trackers so much.
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Risk Management
Risk management is taking actions to minimize, monitor and manage the results of adverse changes.
But how can crypto portfolio trackers help with risk management?
Since crypto portfolio apps centralize all your funds in one location, it’s easier to recognize and avoid unfavorable trading deals and also improve your strategy based on the performance of your portfolio.
Hence, crypto portfolio management tools are very handy for risk management and many people use them for this exact reason.
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Profit/loss tracking
Keeping an eye on your profits and losses is crucial when trading crypto and it’s significantly easier when all your cryptos are in one place.
Many crypto portfolio management tools already have features that allow manually tracking your crypto portfolio’s movements so you don’t have to worry about it.
Track changes in your portfolio 24/7 and make better trading decisions with crypto portfolio trackers
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Efficiency
Tracking your coins can be easy when you have only one. However, it becomes challenging once you start tracking a diversified portfolio.
When using different wallets, exchanges and coins looking after your portfolio is very time consuming, dreadful and simply impossible.
This is when portfolio managing apps come to save the day.
Using cryptocurrency portfolio tracker you can monitor your diverse crypto assets with ease and always know the total value of your portfolio live.
Therefore, it is not hard to see why people enjoy crypto portfolio trackers.
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Customization
Many crypto portfolio trackers have features that will adjust to your needs. For instance, some of these applications give you the option to receive personalized alerts based on cryptocurrency price, market cap, and volume.
News feeds in many crypto trackers are also highly customizable.
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Crypto News
The crypto market is a highly volatile one and huge changes can occur in a matter of days or even hours. This is why when investing in crypto it is extremely important to always be aware of the movements in the market.
In crypto portfolio trackers News aggregators are useful features for keeping up with the crypto market. These news feeds are updated 24/7 by credible sources from the crypto community.
In conclusion, crypto portfolio trackers are liked for a very obvious reason: They work and they also make your life way easier. If you’re still not sure how to make use of these tools, check out the most complete guide to crypto portfolio management.
