If you have a serious interest in cryptocurrencies you need to keep records of every single transaction so you can track its worth over time. Cryptocurrency is on the rise and has already become a ‘growing area’, and many people are now tracking their cryptocurrency transactions. It’s not as easy as keeping track of your bank account, but it’s also not as hard as it may seem. There are a number of great tools out there for doing this, some even as simple as bookmarking the block explorer for the currency you use.
As with any investment, it’s crucial to monitor cryptocurrencies. Fortunately, there are now a variety of cryptocurrency-specific monitoring tools that will add your cryptocurrency investments to the other investments in your portfolio.
You Can Use a Spreadsheet to Track Your Crypto Transactions
The simplest way to track your crypto transactions and portfolio is to use a spreadsheet like Excel or Google Docs. This method is simple and secure but misses some features of using a crypto tracking app, such as crypto price data. To overcome this there are services such as Cryptosheets and Cryptosheet that provide add ons for Excel and Google Sheets that make them more suitable for tracking cryptocurrencies.
You Can Use a Cryptocurrency Tracking App
For a simpler and more user friendly experience there are many apps built specifically to track cryptocurrencies. These provide features such as price data, cloud storage and mobile applications. Some of the best tracking apps are listed below.
FTX
FTX is a powerful mobile application for managing your cryptocurrency investments, available on iOS and Android. The app allows you to track your portfolio in real-time across 1000+ cryptocurrencies, including major coins like Bitcoin, Ethereum, Ripple, and Litecoin. If you’re located in one of the 15 supported countries, you can also trade directly from the app, or add transactions manually.
Coinbase and Coinbase Pro
While Coinbase is primarily a cryptocurrency exchange it can also be a good place to buy, hold and track your crypto assets. With Coinbase, you can easily buy and sell a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, through their easy-to-use dashboard. Just link your bank account and you’re good to go.
Coinbase also offers a Pro version of theri crypto product. Coinbase Pro is an online trading platform for digital assets. It offers secure and easy-to-use features for traders and enthusiasts.
Coinstats
Coinstats is a free, powerful cryptocurrency portfolio tracker. It allows you to track, analyze, and exchange cryptocurrencies from the app or website. Coinstats also includes a vast amount of data, resources, and tools.
With Coinstats you can get all your Crypt accounts in one place.. It’s an easy way to keep track of more than 100 exchanges and wallets. When you sign up, you can sync your accounts for easy tracking of balances, pricing, and important market data that will give you a better understanding of the things impacting your investments.
CoinTracking
CoinTracking offers more features than a lot of other tools. On your dashboard, you can see the total value of all coins and trades. You can also break down your portfolio by specific types and platforms; and there is a tax-return document creation tool as well as automatic import.
They offer a variety of plans, starting from free to unlimited. All plans encrypt data and they have two-factor authentication for extra security. The data is stored on their secure servers and they have nine payment methods. Their app is available in both Android and iOS and it supports multiple languages.
Simple Crypto Tracker
Simple Crypto Tracker offers a simple way to track your crypto portfolio. They have kept the features to a minimum to avoid making the product overly complicated. You enter your crypto assets in a super simple interface and see the most relevant data. Pricing data is updated hourly with unlimited cryptos and exchanges on the free version.
Conclusion
The bottom line is that cryptocurrencies are difficult to track because of the volatility they have. You should still keep careful track of them, though, and then add the balances to your favorite budgeting and investment tracking tool to get a sense of your net worth. It’s also important to keep a record of your crypto transactions for taxation purposes.
