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How technology is helping in Portfolio tracking

Sony T by Sony T
January 4, 2022
in Tech news
Reading Time: 3 mins read
How technology is helping in Portfolio tracking
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The use of technology has been the primary driver for financial inclusion. With reduced transaction fees, almost anyone with a bank account can conduct a transaction on an exchange. This is liberated further by the introduction of cryptocurrency; now you do not even need a bank account or identification any longer. This push by technology is not only enabling different means of payment but also allows us to rethink how to track our investments. With new advancements, it is possible to look at our assets from a more agile and integrated perspective.

An integrated approach to our assets

If you are investing in assets, you like to have a holistic view of your assets. Preferably, this view is also in real-time as you want to see your portfolio grow with minimal effort. There are multiple ways to do so, but the most effective one is through the use of a portfolio tracker. In this section, we will explain why this is the case.

What is wrong with a spreadsheet?

Spreadsheets can retrieve real-time stock market information but do not automatically update the quantity you possess. This means that you need to manually enter the stocks you own when transactions are conducted. On the other hand, though, you are more flexible in how to visualize your portfolio. Especially for avid Excel gurus, this might be the reason to stick with the spreadsheet. For other investors, the emergence of dedicated applications sounds more like it.

Dedicated portfolio tracker applications

Using desktop applications for financial overviews is old school. Nowadays, you want to have a real-time view of all your holdings directly from your phone. This is possible through the introduction of helpful applications. These applications allow you to create an overview of your holdings and even allocate them into special buckets. For example, you might want to create separate buckets for your growth and blue-chip stocks. Next, you can create Key Performance Indicators (KPIs) for these categories to see how you are progressing. This will help you to adjust your investment strategy accordingly.

Crypto is another important asset type

Not only stocks are relevant to keep in a portfolio tracker. With the emergence of crypto, this too is an asset that should be incorporated. As the market is more volatile, the news is a crucial element. Trackers have included this and share this through push notifications. Hereby you are always up-to-date without continuously checking your phone. This gives peace of mind while you can still be on your trade game when needed.

By using a tracker, you can even keep your crypto in your wallet and continue taking part in consensus mechanisms and staking. You will automatically see your holdings grow from your tracker. This all happens safely through the use of the Public Key.

Learn more about stock and crypto tracking

Interested to learn more? You can visit the website of Delta, a leading provider in the field, to understand what is possible and how you can get started. Go to: https://delta.app/en/crypto-tracker.

Tags: CryptoCurrency
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