Each digital currency has a value that can dramatically change without warning. Crypto markets are constantly trading, which means the token values can shift at any time. Keeping up with the value of each of your digital coins as a beginner can be challenging. An essential tool for new and advanced traders alike is a cryptocurrency portfolio tracker. This tool helps traders monitor price changes 24/7 and track investments over time, especially for traders who store their crypto in digital wallets.
What’s a Crypto Portfolio Tracker?
Traders can leverage the help of a cryptocurrency portfolio tracker to manage their investments and track the value of their digital currencies. Portfolio trackers pair with your digital wallet and crypto exchange platform to provide one-stop-shop support. These are especially useful for advanced traders with three or more coins in their portfolios. Some portfolio trackers double as crypto trading platforms. Exchange platforms assign users an individual wallet key that can be used to import and hold digital assets. Holding digital coins in a crypto exchange is convenient if you buy, sell, and trade frequently, but when it comes to holding assets long-term, it’s best to use a digital wallet.
The smart way to learn about the best cryptocurrency exchanges on the marketplace is to read reviews on reputable sites like CryptoVantage. The site takes an in-depth look at Coinbase Canada, one of the largest cryptocurrency exchanges in the world. The exchange is one of the best ways to purchase Bitcoin (BTC) and is known for outstanding security. Account-holders must validate their phone numbers with a code before setting up a mandatory two-factor authentication. Coinbase has a dynamic fee structure depending on the transaction and uses a flat plus percentage fee structure. Users can purchase a variety of different cryptocurrencies, including Bitcoin, Ethereum (ETH), Ripple, and Litecoin as well as some underrated coins.
Blockchain in Cryptocurrency
Blockchain technology functions as a public ledger that accounts for transactions and provides verification of information for all crypto users. All users can access a copy of the blockchain and trace the history of tokens from one transaction to another. Blockchain allows digital information to be recorded and distributed to every user; however, it can never be edited or altered. Immutability is a key feature of blockchain data architecture and maintains a transparent record of all transactions. Each node in a blockchain contains a full record of the stored data since day one.
Ecommerce enterprises generate a wide variety of data types daily and need a means of automation to keep up with databases. AI-driven products help businesses boost confidence and streamline operations by offering automation and a single source of truth for accurate data. Taskmonk is a purpose-built ecommerce data-labeling platform that empowers businesses to create a reference ID for all data types across dispersed teams.
The platform features smart tools such as a no-code workflow designer and AI-assisted task allocations that help increase operational efficiency and more quickly generate better label data. Taskmonk makes it easy to create and modify labeling tasks in minutes without software developers, upload and update attribute lists to manage product catalogs, automatically deploy tasks and monitor progress in real time, and connect to models and update data instantly via API.
Digital Wallets Are a Must
A digital wallet keeps your digital currency secure and protects your assets from hackers. Beginners with a few hundred dollars’ worth of digital coins can safely store their assets on a cryptocurrency exchange. Investors with thousands invested in digital currency should utilize a digital wallet. There are two types of digital wallets investors can choose from. Hot wallets are secure wallets stored online, whereas cold wallets store coins offline on a piece of hardware. Hot wallets aren’t FDIC-insured like fiat currency, which means investors need to ensure whatever cryptocurrency exchange or digital wallet they choose has sufficient security measures such as private keys and two-factor authentication.