The Crypto market in general is still very young compared to other financial markets, so the profit opportunity for investors is huge, but it still comes with many potential risks if everything is done. who do not manage their portfolio carefully. In this article Weakhand will bring everyone 5 tools to manage Crypto investment portfolios most effectively.
To better understand how to manage Portfolio, people can refer to some of the articles below:
- What is DeBank? Overview of DeBank Cryptocurrency
- What is CoinGecko? CoinGecko Tool Overview
- 5 Crypto Portfolio Management Tools
- 5 Best On-chain Crypto Tools
- 20 Essential Crypto Websites for Beginners
Why is Portfolio Management Necessary?
What is an investment portfolio?
An investment portfolio or Portfolio is a comprehensive portfolio of all the assets that people are investing in, be it real estate, stocks or Crypto,… Aggregating the value of these types of assets together Aim to be able to manage them easily.
In this article we will focus on applications that can support easy portfolio management in the Crypto market or, more deeply, DeFi.
Why is it necessary to manage investment portfolios?
In the case that when participating in this Crypto market, people only focus on buying Bitcoin, portfolio management is very simple because they need to monitor the price of BTC alone. However, if everyone’s portfolio includes ETH, other Altcoins, and deposits in DeFi protocols, managing them all will be difficult because the price of the Crypto market fluctuates 24 hours a day. /7.
In the past, our investment portfolio only revolved around which Tokens to buy at what prices and what the DCA price is, but now users’ portfolios in the Crypto market are much more diverse. through a few points such as:
- Which protocols provide liquidity? On which Blockchain? How much profit is being earned?
- Lending, mortgaging and borrowing in what protocol? On which Blockchain? How much profit is being earned?
- In what form are stablecoins USDC, DAI, USDT,…? Which Blockchain are you on?
- Which chain is NFT on? What NFTs are owned or gifted?
Obviously, for us we cannot control the market, we can only control our investment portfolio. Users who do not even have a clear understanding of their investment portfolio will find it very difficult to succeed in the Crypto market in the long term.
5 Crypto Portfolio Management Tools
DeBank
DeBank is a popular on-chain tool that allows everyone to check their own wallet address currently supporting tens of thousands of different assets, more than 1000 protocols and more than 35 EVM blockchain .
Some of the features that DeBank offers include:
- Allows users to check all assets (coins, tokens) held in their wallet address.
- Allows users to check which DeFi protocols all assets (coins, tokens, NFTs) are deposited into.
- Allows users to check all NFTs held in the wallet with information such as average purchase price, current floor price,…
- In addition, DeBank also provides a feature called Bundles that allows people to manage investment portfolios in many different wallets.
To have such a large integrated information system is thanks to DeBank implementing the Vote program, allowing the community to propose modifications to update this platform information accurately and quickly. .
How to use: Know where your assets include BTC and Altcoins besides NFT collections? If there is liquidity provision, you will know which protocols the money is in and know the activity of the wallet address. DeBank is suitable for observing your assets and the people you follow.
Everyone can refer to the article Instructions for Using DeBank for Beginners to understand in detail how to use DeBank for someone new to the Crypto market.
Zerion
Basically, Zerion is not too different from DeBank in statistics on people’s investment portfolios, if not worse because it does not have the Vote function, making updates released much slower than reality.
The biggest difference is probably that Zerion allows people to perform certain operations right on its platform such as:
- Send: Allows sending tokens or NFTs from one wallet to another quickly.
- Swap: Allows users to trade between different coins/tokens with low price slippage thanks to the Aggregator mechanism.
- Bridge: Allows people to transfer assets with more than 9 different chains supported by the project.
Allowing users to perform the above operations helps them buy or sell or take action immediately when the market fluctuates to protect their own assets.
CoinGecko
Perhaps CoinGecko is a quite familiar website to everyone as it is considered one of the most used applications to update basic information about projects. One feature that CoinGecko offers that has received less attention is that Portfolio uses a price database pulled from the platform itself.
To register for a CoinGecko account and use this feature, people need to follow these steps:
- Access: https://www.coingecko.com/vi
- Select the account registration button.
- Proceed to register an account by email.
After having an account, everyone needs to access the Portfolio section to set up an investment portfolio by adding information such as token name, purchase date, purchase price, purchase or sale quantity. Currently, CoinGecko has also launched a new feature that allows everyone to manage their NFT portfolio easily.
How to use: Used to save events when you buy – sell tokens, thereby knowing whether you are losing profit on a project and on the total Portfolio, thereby coming up with an appropriate investment strategy.
Arkham
Arkham is known as a tool to support finding information about an entity such as an investment fund, whale,… on on-chain. However, the features that this platform provides can also be used by us for the purpose of managing our own investment portfolio.
Some useful features for our portfolio management include:
- Dashboard: Allows people to easily track what assets one or more of their wallet addresses are holding.
- Alerts: Give users warnings via Gmail or Telegram immediately to the owner when the wallet address has interactions such as sending, receiving tokens, swapping,…
- Viasulizer: Allows anyone to trace every wallet address’s interactions with all other wallet addresses or protocols in an easy-to-understand diagram.
- Orcale: Integrates a chat bot with artificial intelligence to interrogate various information about the on-chain situation of any wallet address.
Step Finance
Step Finance is a portfolio management tool specifically for the Solana ecosystem, as it is a non-EVM blockchain, regular platforms will not support this network. The features that Step Finance provides are also very complete, no less than other applications that support EVM blockchain such as:
- Dashboard: Enables full auditing of everyone’s portfolio in both wallets and DeFi protocols across the Solana ecosystem.
- Swap: Allows people to buy and sell assets right on the platform easily.
- NFT Gallery: Enables anyone to manage NFT portfolios on the Solana ecosystem.
Summary
Above are 5 effective Crypto portfolio management tools compiled by Weakhand, hopefully through this article everyone will be able to manage their own portfolio and avoid losing. unnecessary loss.
