Have you finally started to invest in cryptocurrency? It’s about time. Cryptocurrency has proven that it’s going to be around for a long time.
Just consider the fact that billions of dollars across the planet are currently invested in crypto. That’s a lot of people who see the value in this asset class.
And no other asset class has been able to compete with the level of returns provided by coins like Bitcoin in the last few years. But there are many other coins and tokens available for your cryptocurrency investments.
While Bitcoin and Ethereum are the most popular, there are many other promising cryptocurrencies worth investing in.
The problem is that by investing in multiple coins, it can be tricky to track all of your different investments and their current value.
If you are finding yourself with too many coins, then keep reading to learn how to organize and track all your cryptocurrencies the easy way.
How to Invest in Cryptocurrency
So how do you start getting your hands on some coins in the first place? Most people will head to online crypto exchanges to start buying cryptocurrencies.
Popular exchanges in the US include Coinbase, Kraken, Gemini, and Binance. The benefit of these exchanges is that they are regulated by US authorities, so there is far less chance that you are going to lose your investments.
When you purchase through an online exchange, your investments will live on your cryptocurrency profile on that exchange. While this is convenient, as it shows you all of your different investments in one place, it isn’t the safest option.
In fact, if you plan on holding your coins for any length of time, the exchange is the least safe place to store your coins.
Store and Track Cryptocurrency Investments With a Wallet
The best place to store your cryptocurrency is on a dedicated crypto wallet. You can choose between a hardware or software wallet. Software wallets are generally free and are apps downloaded to your phone or computer.
Hardware wallets are physical storage devices that you need to pay for but offer the greatest level of security.
Whichever you choose, pick a multi crypto wallet that supports many different coins, rather than a wallet that online holds Bitcoin, for example.
When you store your crypto investments in a wallet, you are in control of your keys. The public and private keys of your wallet are what will ultimately keep your investments safe from hackers.
And if you choose the right wallet, they will help you track your portfolio with ease. Many will show you a detailed chart with your total investment balance, and how much is currently invested in each different coin.
They will show the current price of the coins relative to your purchase price so you can see how much your investment has grown. So a crypto wallet with a crypto tracking dashboard is key to managing your digital investments.
Diversify Your Portfolio
Now that you know how to track and store your cryptocurrency investments, it’s time to start diversifying your portfolio. There are many amazing cryptocurrencies worth investing in.
Some are poised for huge levels of growth, and trying to figure out which ones those are before the growth explosion happens, is just part of the fun.
For other helpful tips, and more crypto news, be sure to visit the rest of our blog where you’ll find other articles like this.