Is There an Alternative to the Analysis of Your Crypto Portfolio Through Excel Spreadsheet?
Investing in cryptocurrencies is a great way to diversify your portfolio, and with a growing community of crypto-devotees making and trading their first investments, there is no shortage of creative ways to track and manage your digital assets.
Cryptocurrency tracker spreadsheet templates are an undeniably simple way to manage your crypto portfolio and implement all kinds of useful features, like real-time price updates and market data - and the truth is, using a crypto excel tracker works.
...at first.
But most trading strategies evolve beyond just long-term holdings, and traders are anxious to swap between more coins to find bigger and better returns.
Cryptocurrency excel spreadsheet trackers are favored as a portfolio management option because of their simple data entry and useful data analysis functions. This has made them ubiquitous among crypto traders and investors, but there are some key reasons to consider replacing them altogether.
The problem with spreadsheet trackers
With a growing portfolio of coins, many traders make use of multiple crypto excel spreadsheets to track value changes and gains or losses, but the sheer number of altcoins is enough to turn this method into a dizzying mess. Even if they choose to brave the learning curve, highly customized, multi-currency excel spreadsheet templates are undeniably cumbersome and confusing.
By far the most significant issue that should make you seriously consider replacing your cryptocurrency spreadsheet tracker is its extreme susceptibility to trivial human errors. While missed negative signs and misaligned rows may sound harmless, having interrelated data in a crypto excel spreadsheet means that small errors can add up and wreak havoc on your portfolio tracker data.
Think you’ve made a mistake? Good luck finding it. Although there is a great deal of automation, cryptocurrency tracker excel templates aren’t built to detect errors, and tracing the logic of your formulas from one related cell to another or double-checking your spreadsheet can take ages.
For swing traders, these shortcomings are compounded by the need to make frequent and numerous changes, all of which inform their next moves. Even with a small amount of trades, it can be hard to keep on top of something as simple as profits and losses, let alone make informed decisions.
For these reasons, switching to a cryptocurrency portfolio tracker app is crucial for staying on top of your investments and making the right decisions.
Replace your crypto portfolio spreadsheets with a single app
The Lukrum app includes an extensive list of user-friendly features that streamline crypto asset tracking and make excel spreadsheet trackers a thing of the past. Auto-sync with all your major exchange accounts & blockchain wallets, access and track real-time data, get the latest market charts, and use advanced portfolio analytics to review and improve your performance.
LUKRUM secure crypto portfolio tracker is available on the App Store 🚀(https://apple.co/2EL3OB7)
Cryptocurrency tracking and analysis doesn’t have to limit itself to your current assets either - Lukrum lets you test potential coins with a ‘Custom Portfolio’ feature and track real-time changes to over 2,000 altcoins.
LUKRUM makes managing your crypto assets simple and secure.