With the enormous increase in the value of cryptocurrencies, more people are investing in those blockchain technology-based digital assets. For those who do not know what a blockchain is, it is a chain with interconnected nodes or blocks. Each of these nodes is used for storing and transferring data in encrypted form.
As the number of transactions a person does increases day by day, it can become very difficult for them to manage their digital assets. Also, the number of data breaches has increased with the increase in the number of transactions as hackers now have a new place to make money by hacking accounts.
Therefore, specific blockchain portfolio trackers are required to help you manage your assets and provide you the security to keep your personal information safe. One such kind of crypto portfolio tracker is Dapp about which we will be discussing in more detail later.
What is blockchain portfolio tracking?
With the help of a blockchain portfolio tracker, you can track your digital assets no matter where you are. This process is known as blockchain portfolio tracking. While most of the portfolio trackers can keep track of just the cryptos you own, some trackers like Dapp can allow you to check your assets, recent dapp (decentralized apps) usage, view your NFTs, and a lot more.
What to look for before choosing a CRYPTO portfolio tracker
There are now hundreds of options to choose from when selecting the right blockchain portfolio tracker for yourself. Therefore, good research is required even in choosing a tracker. Some of these might even try to steal your personal information or data or might not be as effective as they claim to be, thus leading to losses for you in terms of digital assets.
Therefore, it is recommended to keep the following features in mind, which a decent blockchain portfolio tracker like DappRadar should offer
Safety and security
Blockchain is a decentralized technology. This means that no one has the right to regulate or control any kinds of transactions that take place on a blockchain. Therefore, it is not possible to track and trace transactions and to determine who is the owner of a particular wallet. So if a transaction has already been initiated, it is next to impossible to get that money back.
Thus, it is of utmost priority to choose a portfolio tracker to provide the maximum security level possible. Also, as most of the blockchain portfolio trackers are directly linked to your bank account, the chances of a data breach are high. So prefer a tracker with two-step verification or multi-layer encryption.
Great user interface and design
User experience is very important from the user’s perspective. If you want to choose a tracker, it should have the most subtle and simple interface for managing your digital assets. A good portfolio tracker should display your portfolio’s value on its front page or with just one or two clicks.
There should not be any struggle to find your digital assets, and everything should be available right in front of you. This will help save your time and reduce any kinds of strain caused to your eyes due to excessive time spent on the screen for searching your assets.
A variety of available digital assets
You should look for trackers that offer a good number of digital assets and constant additions to the list of available digital assets. This is important as you might want to buy a digital asset that could not be managed on your tracker. In that case, you would have to make an account in some other portfolio tracker that could track that particular asset.
Other than many cryptocurrency options, options should be available in other digital assets as well as in Non-fungible tokens. This will allow you to avoid working with multiple exchanges and save you from memorizing passwords of all those exchanges.
Fee for services provided
Most of the available applications charge no fee for their blockchain portfolio tracker. Therefore, if you should avoid any application that quotes any price for their services, there are chances that it might be to defraud you, and the service might not be worth the money.
Having everything in one place is one of the key features which every blockchain portfolio tracker should have. This should be done for the ease of tracking for the users. For example, recently, there has been a huge growth in the demand for DeFi applications (Decentralized Finance applications). Therefore many platforms are now trying to support tracking systems for DeFi apps to increase their user base.
Real-time data feed and automation
A portfolio tracker aims to help its users make good investments and reap a good amount of profits. Therefore, a good blockchain portfolio tracker should provide a real-time feed about the buying and selling rates of digital assets, thus helping its users determine which asset to buy or sell. Basically, the portfolio tracker should do all the heavy work and lift the load from users of that tracker.
Dapp is a blockchain portfolio tracker that allows its users to track their NFTs, decentralized apps, and other digital assets. That is what makes it different from other trackers, as most of them offer the option of cryptocurrency only.
DappRadar was founded in 2018 and is an excellent platform for tracking, analyzing, and discovering decentralized applications. It is currently tracking over four thousand decentralized applications across multiple blockchains, including Ethereum, EOS, TRON, WAX, and most recently adding BSC, Polygon (Formally Matic), and Flow. Dapp is known for its data accuracy, giving users access to the highest quality data in an easy-to-use way.
Dapp checks all the boxes mentioned above when we discussed what we should look for when choosing a blockchain portfolio tracker. Let us discuss some more advantages of using Dapp as a tracker:
Wallet holdings: with Dapp, you can always stay up-to-date with the performance of your holdings and net worth. It also enables you to track your wallet’s activity and see how you got richer over time.
NFT portfolio: you can visualize your NFT Portfolio in a clean interface and estimate your total value by the last sale price of any token. Also, it gives you an easy option to share your portfolio with anybody.
Clean data mission: DappRadar removes any kind of fake information or activities to provide only correct and sensible information to the users. It also tracks the activities of decentralized applications so as to be up to date with the current trends in the decentralized applications industry.
Binance smart chain wallet: earlier, Dapp’s portfolio tracker allowed its users to connect with just Ethereum wallet, but now, users can add their Binance wallet as well, thus providing them with an even more comprehensive overview of their digital assets. With both the Ethereum and Binance smart chain wallet in one place, users find it easier to track their digital assets on Dapp than other available options.
Free access: Dapp provides free access to its blockchain portfolio tracker. All that you have to do is to enter your wallet’s address. The rest will be taken care of by Dapp. There are separate options for Ethereum wallet as well as Binance smart chain wallet. Thus, you get a great tracking experience, and that too for free.
Blockchain portfolio trackers have become a necessity nowadays for the people who buy and sell cryptocurrencies, non-fungible tokens, or decentralized applications. These trackers provide a hassle-free, secure environment in which we can easily track and review our digital assets.
It is crucial to pick the right blockchain portfolio tracker according to your needs. If you are more inclined towards managing your decentralized applications or non-fungible tokens, then Dapp is the right place for you. Dapp’s blockchain portfolio tracker gives utmost priority to your data’s security and your experience using their services.
Thus, with the world moving to a digital era, it is essential for us also to move forward and replace human brains with brains of machines for managing all of our digital assets as humans tend to make errors and mistakes, whereas machines can keep track of your profits, losses, and portfolio valuation with the maximum accuracy possible.