Cryptocurrency is slowly becoming popular as an investment asset and more and more people are getting attracted to it. While they promise high returns over the long term, investing in cryptocurrency is definitely not a game of week hearted as the asset is investment volatility and risk. And the mad upward rush 2017 and then the steep drops of 2018 has just given a lot of investors a scare of their lives. While many speculators who had entered the market in 2017 in the greed of making quick money have moved away, while the ones that remain are long term investors. And they are always in hunt of tools that can keep them in the game and make wise decisions. And to make those wise decisions investors need to equip them with the best tools out there and one of those tools is a good cryptocurrency portfolio tracker & management apps, that we are going to review today.
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Rise of Altcoins
2017 was not just the year of price rises, it also bought a lot of altcoins into the game. These were subdivided into Utility Tokens, Security Coins, Privacy Coins etc but ultimately expanded the altcoin market making it difficult for the investor to choose and hold the one that could give the most returns. Today there are thousands of altcoins and the number is slowly and steadily increasing daily.
A Portfolio Approach to Crypto Investing
Every person that has traded any markets knows the power of having a portfolio approach. A portfolio approach is considered to be the basis of long-term, successful money management.
If we go to define, Portfolio Approach is predicated around creating a customized investment portfolio that reflects the investment needs throughout the various stages of life. A lot of people demand expertise as to how one should create a portfolio in cryptocurrency, the learned on the street suggest some thumb rule for a long-term investment in cryptocurrency. According to many any coin that is picked up in a portfolio should have the influence of these traits.
