A crypto portfolio management software is an online tool or app that helps people to manage their cryptocurrency investments. A crypto portfolio manager combines the functionality of a traditional manager with that of an exchange, giving you quick and easy access to your holdings and the ability to make quick trades.
Types Of Crypto Portfolio Management Software :
First and foremost, there are two types of portfolio managers: open source and closed source. Open-source software is what we are going to focus on here, as it is still in its early stages of development.
As mentioned there are two types of portfolio managers: open source and closed source. The open-source software is exactly what it says – open source – meaning that it means that anyone can access and contribute to its code base for free. Some examples of the most popular open-source crypto portfolio managers are CryptoTrader and Cryptoradar.
Closed-source crypto portfolio managers, on the other hand, are owned by a company that has full control over them. The company can update their software at any time without the permission of users or developers. A good example of a closed-source crypto portfolio manager is CoinTracker, which is owned by Coinbase. Some people may prefer to use a closed source crypto portfolio manager as it offers more security than an open source one since it doesn’t rely on third party servers hosted by unknown individuals.
Features You Should Look When Choosing A Crypto Software
Below I will list the features that you should look for when choosing a best crypto portfolio manager. These features are:
fast and easy to use, user-friendly interface, user support, price alerts and mobile integration. Not every manager has these features by default – some have just one or two while others offer many in one app. Some even lack a platform that allows you to create your own cryptocurrency portfolio with ease.
An interactive and easy to use interface is a must for a crypto portfolio tracker : A user-friendly platform allows you to be able to easily manage all your cryptocurrency investments in one place. It’s also essential that the platform you choose has an easy-to-use interface that is streamlined and not cluttered by unnecessary functions, buttons or dropdown menus. Crypto portfolio managers like Blockfolio don’t require any permissions in order to run, allowing you greater security from hackers.
If you are in India then, the more features the crypto portfolio manager has, the better as it means that it will be more likely for you to use it on a regular basis. Features often include the ability to buy, sell or hold crypto assets, as well as the ability to track tax on cryptocurrency. Another useful feature is the ability to view your portfolio on a chart in real time that is Dashboard.
A crypto portfolio manager should also have an innovative platform of payment which allows users to buy and sell using their fiat currencies. This way you can avoid paying multiple commissions when trading cryptocurrencies, as well as have a simpler process of transferring funds into a digital wallet. You can use software like Binocs which will make your crypto investment very smooth. I have personally used Binocs and it has worked very well and have many features which are lacking in other crypto portfolio software.