Currently there are lots of cryptocurrencies that can be of interest to investors, traders and funds. At the same time, not all currencies are necessarily on the same exchange, and their rates can vary significant- ly. All this leads to the problem of cryptocurrency portfolios accounting: there can be many different currencies on different exchanges in the portfolio and it becomes difficult to quickly obtain an assess- ment of the current financial state, the yield on a particular currency, and the whole portfolio.
It was this problem that served as a basis for FinTab system creation.
Market overview of cryptocurrency portfolios accounting services
- Talking about small numbers of about 1 to 5 currencies and long-term investments, that’s not a big deal – you can easily take notes about their purchase prices and wait for the changes.
- When the number of currencies in the portfolio grows up to 5-10, Google Tables or Excel can be suitable. The table can be supported by script for automatic exchange rates importing and transformed into the table that shows the portfolio profitability but it is complicated to add new transactions and easy to make a mistake.
- You can use a cryptocurrency accounting service. Let’s consider this option in details.