When it comes to crypto, all is technology. The whole concept of decentralized finance is a scientific and computational one. By using cryptography, it becomes possible to create a network that can conduct transactions without the need for an intermediary. This stood at the foundation of Bitcoin and led to the more than two trillion US dollar market that we know today. When it comes to trading in these cryptocurrencies, technology is just as relevant. In this article, we will delve into technology in the cryptocurrency space and show how a crypto tracker app can make your life easier.
Crypto markets are heavily sentimental and sensitive. This makes it more important to be aware of market changes. Using a Google Sheet you can create an overview of your crypto holdings and use formulas to retrieve real-time price data. This can be complemented by the use of macros to receive email notifications on price changes. Hereby you get messages at price points that matter to you (as you can configure them).
Although it is possible to create something to your liking, it has limitations. This is where applications come in that can do this for you. A good example is a crypto tracker app, which combines different technologies into a single application.
Similar to a sheet, you can enter the currencies you own. Market data is being retrieved in real-time allowing you to have insight into your assets.
Inside the app, you can divide your holdings into different portfolios. For example, you can create a portfolio that consists of stable coins and another one with Bitcoin. When it comes to riskier investments, you can put them in a separate portfolio. The app allows you to monitor the performance of your portfolios, which helps you validate your investment strategies. Are you on track? Performing the right traders? The tracker shows you an analysis of the traders you conducted.
You can set notifications when certain price changes happen, but more importantly: you receive real-time news. For example, when major market-changing events happen, you will receive a notification that allows you to anticipate these changes. You can also set push notifications for specific news regarding coins or portfolios. Hereby you can remain up-to-date without the need for continuous monitoring.
When it comes to exchanges, one of the disadvantages is the fact that you are not able to stake or be part of a consensus mechanism. With a tracker, you can keep your holdings inside your wallets and connect through Public Key. This makes it possible to have a holistic overview of your portfolio while you see it growing through staking and maintaining the network(s).
There are many trackers out there. One of the leaders in the field is Delta, which offers dozens of features to track and trade in cryptocurrencies as well as in traditional assets such as stocks and bonds. You can visit their website to learn more: https://delta.app/en.