Anyone investing in cryptocurrencies will eventually be faced with the issue of keeping track of all the values of their crypto-coins along with the overall portfolio valuation. In a rapidly changing environment, this can quickly become a hurdle when it comes to conducting an analysis and making a decision to buy or sell.
Sure, you can actually take advantage of software like Excel that’s probably already installed on your computer, but this approach will demand manual entry of all the numbers (which can be tiresome) and leave you open to human error.
To make life easier, the best option is to take advantage of cryptocurrency portfolio management apps. While some cryptocurrency trading platforms like Coinbase also provide portfolio management, they only cater to a handful of digital currencies and isn’t ideal for a seasoned cryptocurrency investor.
So which one should you download?
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With all the hype, the cryptocurrency space is overcrowded and it can be difficult to identify the right cryptocurrency app for portfolio management. So to make things easier, we have done all the hard work for you. Keep reading.
Blockfolio is a robust app that provides a complete cryptocurrency portfolio solution. The app also makes it easy to keep track of your investments with a number of highly user-friendly tools.
With Blockfolio, you can view your entire portfolio at once or look at individual digital currencies along with detailed price and market information. You can also enable price notifications and charts with just one click.
Blockfolio is available on both Android and iOS platforms and tracks over 2000 cryptocurrencies. The app also supports almost every major fiat currency.
As you can also access the latest crypto-news within this app, there won’t be any need to switch between apps when you’re trying to make an informed decision.
Cryptocompare is not only a portfolio management app, it’s also a popular crypto-community. Unlike Blockfolio that’s completely mobile-based, Cryptocompare is available both on mobile and on the web.
With this cryptocurrency portfolio management solution, you can support all digital currencies, create and manage multiple portfolios, add notes, view charts and graphs, perform a risk analysis, and conduct advanced analytics.
As this tool runs on a cloud, you can access your portfolio across devices. This means that you can also seamlessly switch between a smartphone or a desktop. What’s more, you also have the option of sharing your portfolio with friends.
Delta is similar to Blockfolio and a popular alternative for users who are looking for another option. Available on both Android and iOS, Delta also supports over 2000 cryptocurrencies (with more added on a regular basis).
With Delta, you have the option of using fiat currencies or cryptocurrencies as your reserve currency (when it comes to checking the overall health of your portfolio). This completely mobile-based app also provides price action for multiple exchanges and trading pairs, separate portfolios, watch lists, and advanced analytics.
The mobile app can be synched across five devices and the pro version of the app will allow you to manage up to 10 different portfolios. When compared to similar apps, Delta also boasts a great user interface.
So what the right crypto-portfolio management app for you? The answer to the question is directly related to your current investment portfolio and what you hope to achieve in the future.
It might also be worth doing your homework to see how these digital currency portfolio management tools will evolve in the years to come. My advice is to try them all and pick the one that works best for you and your long-term objectives.