How To Manage your Cryptocurrency Portfolio Properly?

Why are cryptocurrencies popular?

“Cryptocurrencies” are digital rewards generated in the open digital markets. These form of currencies have just gained popularity lesser than a decade ago. Today, cryptocurrencies operate within a completely different market with a broad range of products. Users claim that these open markets function more freely and provide greater opportunities for regulation of the currencies.

Other users prefer markets without a central regulatory mechanism where the markets function solely on the forces of market demand and supply. Therefore, cryptocurrencies are considered proper forms of investment. Another major benefit that users agree with is that investment in cryptocurrencies can be diversified to balance the returns on investment.

Bitcoin

The first cryptocurrency that was freely regulated under a decentralized system is named “Bitcoin”. Historically, bitcoin bears the value of being the initiator of the crypto trade market, which is why it is considered to be the most crowded currency today. Because one-third of the market relies on the single currency, bitcoin has been declining in the recent years.

Portfolio managers for bitcoins

Cryptocurrency is high-risk investment currency items that require proper management systems that are complex and complicated to be handled by one individual. Since the majority of the users for cryptocurrency lack experience and expertise in trading with these assets, there are higher chances for bearing losses.

The digital world has come up with a solution for the issues the traders face, in the form of introducing portfolio managers. The term “Portfolio” is given to the reports and management systems that keep a track of the crypto investments of the users. The users do not need to create their own tools and sheets to keep a track of their cryptocurrencies.

All they need to do is select their preferred cryptocurrency portfolio manager to perform the necessary functions. These portfolio managers not only manage the investments for the users but also handles the different elements in the preparation of cryptocurrencies to guide the users.

We have assembled a collection of the easier portfolio management tools for users to get started with their investments.

  1. CoinTracking: CoinTracking is a standard app manager that is suitable for users who trade frequently since it quickly calculates and updates users on their current trading choices. Users can choose a free plan to gain an idea of what the manager can do for their trading and then make a choice regarding their paid plans. Users can import data from various exchanges for comparison. This minimizes the hassle for users when entering trades. The manager is efficient in calculating the costs of the transactions.
  2. Altpocket: Altpocket can be considered a versatile tool that can perform different functions within one management system. It is a complete manager that can display the data in reports and provide a detailed analysis of the data. Further, it keeps the users updated regularly so they are aware of their market position. Altpocket saves users time by performing many “import” functions.
  3. Totle: Totle is a management tool that is simpler and easier for the users. It is a basic tool that displays the trends and trading analysis of cryptocurrencies in the form of a portfolio. The tool manages the crypto portfolios for users who are new to the digital trading market. The user-friendly tool evaluates all the information for the users that is needed for them to get started. Further, the portfolio manager presents users with options to select the best trading opportunities at the right time. One unique feature of the tool is that it provides customized options for users to create their portfolios for cryptocurrencies.

The three portfolio managers have been carefully selected to give users an overview of three most easy tools to use. There are tons of other tools and managers that can perform the same functions, but we have classified the three most reliable and efficient sources.

2018-02-03T11:56:28+00:00 Categories: Money Guides|0 Comments

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