What is Portfolio Tracking and How to Track It?

Portfolio Tracking is the process of monitoring and recording your investment performance periodically. This system involves recording your asset values, price changes, asset allocation, and overall portfolio performance.

With your Portfolio Tracking, you can understand how your investments develop over time and make better decisions about your investment management.

Understand more about portfolio tracking in the following explanation.

Why is Portfolio Tracking Important in the Context of Crypto Investment?

Some of the benefits of portfolio tracking are:

1. Crypto Market Volatility

The crypto market is known for its high volatility . Crypto asset prices can fluctuate significantly in a short time. By tracking your portfolio regularly, you can monitor price changes and take appropriate action.

2. Risk diversification

Portfolio Tracking allows you to understand how diversified your portfolio is and identify whether you have an unbalanced concentration of risk in one or more specific crypto assets.

3. Performance Monitoring

By monitoring the performance of your portfolio, you can assess whether your investments are achieving your financial goals. You can see capital growth, passive income, or changes in portfolio performance over time.

4. Efficient Investment Management

Portfolio Tracking helps you make informed investment decisions. You can find out when is the right time to buy, sell, or maintain your investment position based on an analysis of your portfolio performance.

How to Track Your Crypto Portfolio Effectively

How to do portfolio tracking is very easy. Understand the method below.

1. Use a Portfolio Tracking Application or Platform

There are many crypto Portfolio Tracking apps and platforms available online. These include CoinMarketCap, CoinGecko, Blockfolio, and others. You can use this platform to track the value of your assets, monitor prices, and analyze the performance of your portfolio.

2. Set Price Alerts

Some Portfolio Tracking applications allow you to set price alerts. You can receive notifications when the price of a crypto asset reaches a certain level, allowing you to take appropriate action according to your investment strategy.

3. Carry out periodic reconciliation

Perform regular reconciliation between your portfolio balance on the tracking platform and the actual balance of your crypto wallet . This will help ensure that your portfolio data is accurate and up to date.

4. Use Charts and Analysis

Use the charts and analysis tools provided by the Portfolio Tracking platform to understand price trends, performance changes and your asset allocation. This will help you make better investment decisions.

Conclusion

Tracking your crypto portfolio is an important step in managing your investments efficiently and making informed decisions. 

By understanding your asset values, price changes, and overall portfolio performance, you can optimize your investment strategy and achieve your financial goals in the dynamic world of crypto investing.

How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. 

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH ),  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read Also: 

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USDT staking vs. Staking Other Cryptos: Which is More Profitable?

What is Short Selling?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.