How to monitor your Bitcoin investments

2018/3/18 22:10:31

The unpredictability of cryptocurrencies needs a good crypto-investor eye. Here’s a rundown of three portfolio tracking apps that can help you with that.

 


By  Jimmy Rodela for Born2Invest:

 

Are you a so-called crypto-investor but want to monitor your Bitcoins?

 

Because the virtual currency world is a volatile one, rules with regard investing in stocks where you can get high dividends or assets with low risks of losses don’t apply there, according to a Mashable article.

 

“There are no low-risk assets. Prices swing up and down in double-digit percentages on a weekly basis. One month in crypto is like a year in the real world. Something that’s valuable now could be completely gone in a few years,” the site said.

 

That is why a crypto-investor uses an app to know the status of his Bitcoin investments during the day.

 

Not perfect

 

Cryptocurrency tracking apps are imperfect though.

 

Mashable said some apps are “versatile and pretty but don’t track all the coins out there” while others are “updated and track all coins but don’t have all the options” that a crypto-investor needs.

 

The site listed three great portfolio-tracking apps with their strengths and weaknesses.

 

1. Blockfolio

 

Plus points:

 

  • Blockfolio is the most popular portfolio tracker and is free.
  • Tracks a large number of coins.
  • Has varied options “including checking the actual order book and on different exchanges for each coin, and a basic but usable news feed.” The app alerts a user when a coin reaches a certain price. The alerts “can be used for a quick profit cash-in or reducing your losses when the price starts dropping.”
  • It can be customized, so a user can lock the app with a password, share screenshots, hide his or her balances and only see percentage changes, and more.
  • Visually pretty with charts and a choice between a dark and white user interface.
  • Blockfolio can be downloaded for Android or iPhone.
  •  

Minus points:

 

  • Only available for mobile phones.
  • Slow to list new coins at times.
  • The prices it shows “can be inaccurate.”
  • Servers are sometimes unavailable.

 

To access the complete article text with details of the other two apps rated, link below:

https://born2invest.com/articles/monitor-bitcoin-investments/

 

 

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