As an investor active across assets, you probably know how difficult it is to get an integrated view. Ranging from bonds to stocks, crypto, and more. Preferably, you have all those holdings in a single view, where you can monitor them based on performance. For a long period, this was done using spreadsheets. However, there were multiple downsides to using this method.

 

For example, it is not possible to automatically include transactions or dividend payments made. Next, real-time information is possible through a function, but the stock prices are often delayed. This is where a crypto and stock tracker can come in. This tool allows you to have an integrated and real-time view of your assets.

 

Direct integration with brokers

Instead of putting manual entries into your spreadsheet, you can now connect with brokers through API. This is a safe and secure method, with the only information being shared per the protocol of the broker. This also means that transactions and dividend payments will be reflected. Many investors have accounts across brokers, and can now have a full view of those assets combined.

 

Check for the best transaction fees

Not only does a crypto and stock tracker integrate all your holdings, but they also show transaction fees. If you select a stock you want to monitor, you can see the fees from all brokers reflected. This allows you to select the broker with the best transaction fees, or compare the fees across your preferred brokers.

 

Creating portfolio groups

Once you have all your stocks in a single place, you can cluster them per your needs. For example, you can create a group of growth stocks or technology stocks, or have a group that focuses on blue-chip companies. Creating these portfolio groups allows you to track the Return on Investment (ROI) from the specific groups, which enables you to adjust your investment strategy when needed.

Addition of crypto assets

Many investors are now also adding crypto to their portfolios. This includes well-known coins such as Ethereum and Bitcoin, but also emerging coins. Since crypto works a bit different than traditional stocks, it is important to take the following into account:

 

When you invest in crypto, make sure you take the coins off the exchange. When they are in the exchange, you are vulnerable to hacks and loss of your assets. The coins are not in your possession but in the possession of the exchange with a database indicating what part of that wallet belongs to you.

 

There are many ways to increase your holdings. For example, you can keep the funds in your wallet to stake. This is relatively new but makes you earn up to 10% on your holdings. Next to that, you can continue to participate in consensus mechanisms. This is especially helpful in the Proof of Stake consensus, as you automatically grow your stake.

 

Integrate with crypto wallets

When you use crypto and stock tracker, you can connect with wallets using the Public Key. This means that no personal or secure information is shared. You can continue to stake and participate in consensus, and the gains are automatically reflected.

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January 27th, 2022 by financetwitter

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