5 Personal Finance Products for Every Crypto Investor
Personal finance is the act of managing your own money. Having direct authority over how your funds are invested, where assets are stored, and how your money is used. The individual who engages in personal finance takes responsibility for their own success by planning, setting goals, and reaching their targets.
Working hard to take control of your personal finances is liberating. It provides a sense of fulfillment and growth which will change the way you think about your finances.
In the cryptocurrency space, personal finance is booming. Rather than trusting another person or system with managing their money, cryptocurrency users are taking back control of their finances. Using personal finance tools to take responsibility for their success. It has become core to the cultural identity of the crypto market.
Each individual person wants to have fundamental control over their own assets. People want to select the cryptocurrencies which go into their portfolio, secure their own investments, decide how their funds should be allocated, and freely move their own money without arbitrary borders or restrictions.
The following crypto personal finance products will help you take back control of your money. Rather than trusting a third-party company to manage your funds, these services will empower you to manage your entire portfolio of assets.
Ledger Nano X
Above all else, the most important thing to remember when managing your own personal finances in the crypto market is security. Without a foundation of security, our funds can become vulnerable to hacks and security breaches.
For this reason, before we go any further, we must understand the best security practices for participating in this market.
Keep your crypto assets in a hardware wallet.
Hardware wallets are an investment in the long term security of your funds. There is no point in spending significant time, energy, and money to build a diverse cryptocurrency portfolio only to have it stolen out from under us because we didn’t securely store our assets.
This is where Ledger Nano X makes its entrance. The Ledger line of products are the most complete in the market. They provide a seamless experience for crypto users to securely store their funds, monitor their portfolio over time, and safely transfer funds when necessary.
Hardware
The Ledger Nano X is the most popular hardware wallet in the market. In 2018, the predecessor “Ledger Nano S” reached over 1.3 million units sold. This global success story did not happen by chance. The sleek design, diverse asset selection, and robust security all contribute to this runaway success.
With the launch of the Ledger Nano X, everything great about the Ledger Nano S has been amplified in this exceptional successor. We recommend the Ledger products over all other hardware wallets for personal asset management.
Browse their full line of products here.
Software
The exceptional quality of the Ledger Nano X doesn’t end at the hardware. The ledger team has developed a complete portfolio dashboard that fits perfectly alongside the hardware wallet.
Ledger Live allows you to see your portfolio at a glance, even when your ledger is not plugged into your computer. Each transaction is carefully tracked and labeled for peace of mind.
Bittrex
The secure exchange.
Although we recommend storing your assets in your hardware wallet or cold storage solution, there are times you will need to trade. During these times, it’s important we use a secure exchange that has a stellar reputation in the market.
Without a doubt, Bittrex is that exchange. Founded by Bill Shihara and two business partners who were security professionals at Microsoft, you can be certain their fundamental principles derive from security.
Bittrex provides one of the most diverse selections of digital assets for US customers. Paired with a clean interface, convenient trading features, and intuitive UI, there is no better place for investors to trade cryptocurrency.
Shrimpy
Once you have an exchange which works for you. It’s time to automate your portfolio. Trading in a 24/7 market is mentally exhausting. Save yourself the headache by simplifying your life with portfolio management strategies which can be automated over the long term.
You work hard, so get a personal crypto automation tool that works as hard as you. Maintain complete control over your funds by connecting Shrimpy to your Bittrex account (or any other exchange account). You can also input your Ledger Nano X balances into Shrimpy so everything can be tracked from a single application.
It’s the perfect solution for the busy person who needs a single place to track, trade, and automate all of their funds.
In under 5 minutes, you can construct your own market indexing strategy or automate your portfolio with custom allocations. Shrimpy also supports a social program where traders can discuss with each other, share portfolio strategies, and follow the trading strategies of other users.
Additional popular features include:
- Performance monitoring across all your exchange accounts
- Custom index builder and strategy automation
- Portfolio rebalancing and dollar-cost averaging
- Strategy backtesting and analytics
Sign up for Shrimpy to start automating your crypto portfolio.
CoinStats
You’re on the go, so that means you don’t always have time to check your portfolio. Receive notifications on the assets in your portfolio by using a portfolio tracker like CoinStats.
Having a good mobile application can complement your portfolio in many ways. Get alerts, the latest news, and track your portfolio from your mobile devices.
CoinStats allows you to sync your wallets and exchanges to automatically track every asset in your portfolio. With over 100 exchanges and 5,000 assets supported, CoinStats is one of the largest mobile portfolio trackers in the market.
When it comes to mobile companion apps for cryptocurrency, there is no better service than CoinStats.
CoinTracker
When everything is said and done, each year we need to file our taxes. For this purpose, we recommend using CoinTracker.
CoinTracker connects to every major exchange and wallet. This makes it ideal for personal portfolio management since there won’t be any gaps in your trading activity. In fact, you can connect your Ledger hardware wallet and Bittrex exchange account to CoinTracker. That way you can automate the process of determining your tax liability without painfully calculating everything by hand.
CoinTracker has an exceptional reputation in the crypto market and has proven to stay ahead of the curve when it comes to ensuring you are compliant with your taxes.
Calculate your crypto taxes with CoinTracker!
Conclusion
The cryptocurrency market has a strong culture of personal independence when it comes to asset management. This can be overwhelming for new crypto users who don’t know where to begin.
Building a diverse portfolio can be tiring without the right tools. This list of products will simplify the process, save you time, and make your experience with cryptocurrencies a blast.
We encourage you to try each of these products and find ways to integrate them into your portfolio management strategy.
Shrimpy is a personal crypto portfolio management application. Connect each of your exchange accounts to begin automating your portfolio strategy. It only takes 5 minutes to set up, so try it out today!
Shrimpy’s Universal Crypto Exchange APIs are the only unified APIs for crypto exchanges that are specifically designed for application developers. Collect real-time trade or order book data, manage user exchange accounts, execute trading strategies, and simplify the way you connect to each exchange.
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