CrytpoCompare Portfolio Tracker: Starter tutorial

When I started to accumulate more BTC and alts coins I soon started to lose track of the numbers as well as my mind. I realised I needed rescuing and a quick search told me I should aquire a ‘Portfolio tracker’. A portfolio tracker is a tool which helps traders or investors keep track of how well they’re doing against the market. I found my way to CryptoCompare.com and I’ve relied on it since.

CryptoCompare is actually an interactive crypto social platform with many useful features, however for this post I'll be focusing solely on the portfolio. Being that it's a website and not an app, I save it as a shortcut to my phone desktop, so for all intents and purposes, to me… it might as well be an app.

What does it do?

In simple terms it enables you to collate all your transactions and will do the math for you. This means summing up your separate transactions, creating an average then using live market prices to show you if your gaining or loosing and by what percentage. It will show your complete net worth in Fiat, BTC, Eth or Gold (yes gold!) and break down each separate crypto, then break it down further into each separate transaction so you have a complete overview of every aspect.

How to get started

• Sign up for an account. Very simple, just needs an email and a username.

• Add new coin to portfolio:

• Enter the type of coin and number of units you bought.

• Type the amount you bought it for.

• If your transaction was Fiat to BTC you need to set the currency to your native currency (mine is GBP)

• If it was BTC to an alt coin, set the currency to BTC

Here is a screenshot of a fictional portfolio I made for test purposes

You can now continue adding new entries for every purchase you make. If you buy the same coin 7 times all at different prices, click the ‘collapse’ button to combine them into one position (the average price you bought it at) so you know exactly where you stand. You can always expand them again. Your entire holdings are displayed at the top of the page.

You can switch to view it in BTC.

....and the Risk analysis tab is the gateway to pie chart nirvana.

Job Done. Now check your phone every 5 seconds from now until eternity. No don’t do that. Meditate. Phone your Mum. Smell a flower.

As mentioned you can view your entire holdings in Fiat or BTC. Personally, I focus on BTC. This is because if my alt coin gains against GBP, it’s doesn’t always gain against BTC, and when this is the case it means I may as well have left my funds in BTC in the first place because my Fiat gains would have been greater. A topic for another post maybe.

I’ve barely scratched the surface in this post in regard to CryptoCompare but I hope this has been helpful to any crypto newcomers wanting to get started with a portfolio tracker.