Cryptocurrency Portfolio management is still an unmanageable process. Sign up to your exchange to execute buying and selling cryptocurrencies, manually entering into a tracker application, and staying up into the wee hours of the night scared you about your portfolio crash if you blink an eye.
Once you invested in digital currency, it is very important to manage your currency’s portfolio. In order to do that you need to stay informed and also to track your profits from time to time. It’s time to put the past behind. Stop manually executing your crypto portfolio strategy and start simplifying the way you automate your portfolio through Bitfoliex. It is an easy comfortable and secure way to manage your portfolio. Use Bitfoliex.com to manage your cryptocurrencies and trade in the digital market.
Stay updated, get the right information
In order to manage your portfolio, there is another very important thing to follow keep yourself updated about digital market.
Follow the team and community of the crypto assets or digital coins you hold
Subscribe to the newsletter of every crypto asset you own. You can find the website of each currency.
To know about each coin you need to visit these platforms:
· Telegram community
· Slack community
· Reddit subreddit
Bitfoliex is a platform for the busy person to manage their crypto portfolio. It adapts ideas from expert investors outside the crypto space to introduce simple strategies that can help increase returns. It’s like a solution to a problem that users faced. Stop wasting countless hours in researching which exchange has which cryptocurrencies, Join Bitfoliex platformto manage your portfolio as it has multifunction qualities and perform the different operations at the same time. It is the answer to this problem. It’s completely available in the market, simple to get started, and doesn’t need to cost you an arm and a leg. Bitfoliex wallet manages the portfolio to make cryptocurrency investing easy for everyday investors.
Pick Your Coins
First of all, select what coins you would like to include in your portfolio. You can do this by simply looking up a coin by its symbol or name at the bitfoliex platform.
This list contains all 465 coins that are available on the bitfoliex exchange. You can sort these coins by name, market capitalization, symbol, or 24H price change.
Select a Weighting Strategy
Once you’ve selected the coins that you want to add in your portfolio, it’s time to decide how to weigh them.
There are 3 weighting strategies:
· Fixed: Assigns a constant weighting e.g. 10%.
· Market Cap: Assigns a dynamic weighting to each coin based on its market capitalization
· Square Root Market Cap: Assigns a dynamic weighting to each coin based on its square root market capitalization.
After you selected a weighting strategy, you can choose to modify the weighting of any individual coin.
You don’t want to pick your strategy blindly. Once you’re done creating your portfolio, it’s time to run a backtest against historical data to see how your strategy would have performed in the past. Look around your portfolio and the backtest until you’re happy with the results.
Save and Execute
Once you’re happy with the results, you can save your portfolio and execute it right away. As long as you have an active bitfoliex account, the trades required to build your portfolio will be automatically executed.
Set your Own Rebalancing Period
The allocations in your portfolio will shift out of place when prices change. After providing each app with an easy and user-friendly interface, bitfoliex strives to make the crypto world accessible for everyone who is acquiring digital currencies for the first time. So use this platform to manage your cryptocurrency portfolio and forget about the rest issues. The unique system of the platform manages each and every issue without disturbing other things.