In the virtual world, the most valuable digital asset is considered “crypto-currency”. Cryptocurrencies operate in a market that is highly volatile and provides the opportunity to generate high rates of returns. Cryptocurrency is the reward that is generated through the secure and private shield provided by the mechanisms of cryptography.
The currency is produced through the management of the “blockchain” system that is linked together to secure the process of transactions. It is important to note that this monetary pattern runs through a de-centralized regulation system. The most common, or rather, the initial forms of cryptocurrency are termed as Bitcoin and other alternative coins i.e. Altcoins.
Management system for cryptocurrency
Since cryptocurrency is relatively different in nature as compared to the real money in our banks, there is a need to apply a different approach for the management of such currencies. Therefore, to manage the regulation of cryptocurrencies specific management portfolios are required that have designed solely for the purpose of cryptocurrencies.
Cryptocurrency portfolio managers inform the users about the value of their crypto assets in real terms. These portfolios are beneficial for cryptocurrency traders since the portfolio apps guide the traders about the best opportunities for buying and selling.
Below is a list of the most noteworthy cryptocurrency portfolio management apps that are helping the users;
- Cryptocompare: is a leading application that manages the cryptocurrency portfolios for clients. This app is significantly popular because it provides convenience to the users by operating and supporting all forms of altcoins. To make things visually symmetrical, the data is displayed in the form of charts and graphs that can be easily understood. For a user who has just entered the market, cryptocompare performs a risk assessment for the data to guide the users. The program further allows the portfolio to be managed through a mobile app.
- Cryptfolio: is a powerful web application that not only manages the cryptocurrencies but also keeps a track of the investments and equitable funds. The application updates regular reports for the users to develop a pattern for their currency portfolio layouts. The users can select their traded currencies from a wide pool of currency options on the web. The platform provides complete security and privacy for the users by allowing an open source software to be used for the purpose of viewing the reports. The users’ accounts and data remain private without saving passwords and important addresses.
- Blockfolio: is the most preferred trading application by the users to keep a track of their investments in cryptocurrencies. The application presents the investment reports in a detailed manner, while highlighting the prices and bars for traders. In addition, traders can view the trading position of over 2000 different currencies in detail. All the currencies are displayed through customized chart and bar forms that includes candlesticks, bar charts, pattern charts etc. Furthermore, the application allows the users to view the portfolios in various Fiat currencies. One of the most important feature Blockfolio is that it keeps the traders updated by providing them the latest news from around the globe that provides insight to the traders.
The fundamental aim of the portfolios is to provide ease to the users who may find it difficult to deal with cryptocurrencies. These specialized management systems have been specifically created to operate and function virtually. There exist more than 2000+ cryptocurrencies that are distinguished in the form of bitcoins and altcoins. Similarly, there are various portfolio programs that manage and operate the revenue and regulation system of these currencies. This article only highlights the top 3 management tools that are easier and convenient for beginners.