Why you should consider a crypto tracker app

Why you should consider a crypto tracker app

Many providers in the crypto domain offer innovative solutions to traders. Ranging from bots to applications, there are tools for every segment. We believe that a crypto tracker app is essential to your success, as it will provide you with the means to trade and manage your holdings more actively.

Complete overview of your holdings

A tracker application allows you to combine all your holdings into portfolios and overviews. This is beneficial, as it helps you see your portfolio grow and manage it accordingly. Integration happens through crypto exchanges via API and the Public Address for wallets. These are secure methods that make sure your holdings are safe and cannot be altered by third parties. These overviews, in turn, help you to see your portfolio develop and take the appropriate actions. This is especially helpful as you need multiple wallets if you have loads of different holdings.

Continue with consensus mechanisms

This brings us to the second benefit: you can continue to participate in consensus mechanisms, as the value of your holdings remains in the designated wallets. This is useful as you can grow your holdings, for example through the use of Proof of Stake (PoS) consensus mechanisms. Within the crypto tracker app, you can then see the value of your holdings increase through easy integrations.

Conducting a trade

Are you interested in buying crypto? Via the app, you can see the different exchanges with the corresponding transaction costs to make the right decision that works for you. For example, you can optimize for convenience or costs, and do the trade you want to make.

Important market news at your fingertips

Perhaps most importantly, you have direct insight into market changes, which help you to better act upon what is happening. For example, you can set up alerts for specific crypto, and also indicate when you want to be notified. Ranging from the latest news to major price hikes and drops, all is possible and can be configured according to your needs.

This functionality is helpful for both your existing as well as your potential portfolio components. If you are looking at a good buy, you can track it with ease through the app and act upon the price point that works for you.

Next to the market news, there are also options to analyze the market. This is a combination of market analysis as well as a detailed analysis of your trades. This makes it possible for you to better understand the results of your trades and take those learnings into account when trading in the future. There is also analytics available on your portfolio and how the components compare to each other. This can help you in formulating a good strategy and executing it. With this functionality to provide you with feedback, you can adjust where needed.

About author

Carl Herman is an editor at DataFileHost enjoys writing about the latest Tech trends around the globe.