Portfolio and Wallet Suggestions

in #bitcoin6 years ago

Coin Stats Wallet is the best I have encountered, I am not being paid or coerced in any way to create this or any article.

https://coinstats.app/
image.png
Image by CoinStats

Portfolio-

When I first started trading Crypto I had a very hard time finding a portfolio application to track my investments. Many of the portfolio applications out there are complicated, require manual input and are not very user friendly. When I found Coin Stats I was very happy with the look, and feel of the application but more then that it had API support. API Support allows Coin Stats to keep track of my buys and sells without having any control to perform buys and sells, this allowing me to trade without having to enter any information anywhere, or download then upload a spread sheet (having to worry about this information being intercepted), or simply forgetting what the price was when you invested. Because even if you remember that you bought Cardano at X cents, how can you also remember what Bitcoin was at or Ethereum if you used Ethereum to buy it instead. This app allows you to focus on the ticker and the price, make decisions on the fly and your app will tell you what your profit margin was, its that simple. If you made several purchases on a token at different prices and you are wondering what your dollar cost average (DCA) is, this app does it for you it really makes trading much easier. Coin Stats does charge $4.99 a month but in my opinion it is more than worth it.

Wallet

This one is not as cut and dry for me, I do not have any one wallet. Any token that I plan to hold longer than 6 months is in a wallet. All of my ERC-20 tokens that do not have any kind of dividends are in my "MyEtherWallet", the ones that do pay dividends such as Ark Strat Etc are in their respective wallets. Anything else, meaning any token that I am holding more than 6 months and does not pay dividends is being stored in a paper wallet. For those of you who do not know of understand this concept I will do my best to put it in laymen terms. Since the blockchain holds all transaction data, the information on what tokens are held at each address are stored in the block chain, the private key to each address is held by the owner of each address. Holding a paper wallet just means that you have your private key code printed on a piece of paper, but no where else. The block chain already know how much money your address has, but only you, the holder of the private key can move those funds around. The private key is a ridiculously long number or group of words that can not be reverse engineered to find your public key even by quantum computers, I wrote a tech article on it a few days ago. I believe having you private key stored offline on a piece of paper is the safest way to protect your assets, others believe it is a hardware wallet. Let me tell you that in my opinion a hardware wallet can break, catch a virus, over heat, get wet, etc, but your paper wallet in a zip-lock bag is not likely to be damaged. I keep one copy in a zip-lock back in the safe, and a copy in a safety deposit box. Some people commit their private key to memory and burn it, to them I say good luck, because if you slip and land on your head or something lose your good looks, fortune and memory all at once. Paper wallets are usually free. And as for your short term (less than 6 month), investments, keep them on a secure ExchangeI like Binance they prevented a hack attack and ended up taking the hackers money (https://finance.yahoo.com/news/binance-ceo-irregular-trades-reversed-184622145.html). Also ALWAYS USE TWO FACTOR IDENTIFICATION (2FA) and use a strong password on exchanges. Not using 2FA is lazy and might end up allowing someone to log into your account and clean you out. **You can use this website to check how strong your password is https://random-ize.com/how-long-to-hack-pass/"". Binance goes even further with security, making users authorize any browser that accesses them, and makes users confirm by email any withdrawal, more exchanges should model themselves after Binance on security.

Well just to let you all know my next move, since I made some over time this pay period, I will be investing $100 into the following projects:
ARK, adding to my staking position.
STEEM, adding to my staking position.
ADA, adding to my position before it moons again.

Well I hope this information was helpful to you all, thanks for reading.

I am not a financial advisor, and this is not financial advice, invest at your own risk.

Sort:  

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
ADACardano0.142$0.64%-17.66%
ARKArk1.009$1.45%-25.35%
BTCBitcoin7685.730$-0.21%-6.28%
ETHEthereum423.579$-1.55%-10.86%
STEEMSteem1.279$-0.82%-14.88%

Hi, very interesting solution, this wallet seems to be innovative and useful especially for traders! I upvoted, resteem it and follow you! Have a nice day!

Wow, thanks man I really appreciate it, and I love this portfolio app!

Very helpful, thanks :)

Thank you for commenting my friend!

Resteemed to over 19200 followers and 100% upvoted. Thank you for using my service!

Send 0.200 Steem or 0.200 Steem Dollars and the URL in the memo to use the bot.
Read here how the bot from Berlin works.

#resteembot #bestofresteembot #winwithresteembot #resteembotvip

@resteem.bot

Become one of our VIPs like @touseefk @amigurumi for 1 month free resteems and upvotes.

Byteball is doing a airdrop on Steemit, where you can get 10 $ - 160 $ for free. More infos here.

@resteem.bot

That's really good and I appreciate your effort Mr. @embomb701.
You are doing great, Keep it up...
Thank you :-)

Thank you very much @amar15 your last article gave me the idea for this.

Coin Marketplace

STEEM 0.24
TRX 0.11
JST 0.031
BTC 60936.15
ETH 2921.43
USDT 1.00
SBD 3.70