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Complete Guide to Crypto Asset Management

The world of cryptocurrency is growing every single day. What started as one coin, Bitcoin, back in 2009, has turned into more than 7,000 different cryptocurrencies, rapidly evolving blockchain technology, and an entire Defi ecosystem that is challenging the current financial system.

There’s a lot to pay attention to in order to ensure our portfolio is balanced and growing. Crypto asset management is vital if you want to protect your investments, and find ways to boost the performance of your portfolio.

There are a few things that every crypto investor needs to do. From tracking crypto prices to buying and storing your crypto assets, it’s up to you to become a responsible investor, if you want to actually grow your wealth.

So what does it take? Keep reading to find out now.

Stay in the Know

Time and time again, you’re going to hear people tell you to do your own research (DYOR). It’s the foundation of becoming a good investor. You need to know about the coins you are investing in. You can’t just take someone’s word for it.

From crypto mining to partnerships strategic partnerships, every announcement related to crypto has the potential to shake up the market. If a crypto crash or rally is imminent, you want to be ready to take action.

Find a few people in the crypto space that you like and trust, and follow their work online, on their YouTube channel, and on their podcast. Doing so will give you an edge as an investor, as you stay updated on the performance of your favorite coins, and learn about hot new opportunities before everyone else does.

Purchasing Crypto

Most people have a favorite crypto exchange. In the US, Coinbase is the most popular platform. However, they don’t list every coin. It helps to have a verified account at multiple exchanges, in case you need to buy coins on short notice that your favored provider doesn’t carry.

It may help to get familiar with decentralized exchange (DEX) in the event you want to purchase altcoins that aren’t listed on any major exchange.

Also, don’t be afraid to use Bitcoin ATMs from time to time to add to your portfolio. These convenient machines, such as those from Byte Federal, make it simple to purchase more crypto in moments when you’re out and about.

Track Your Portfolio

Experienced crypto investors have a lot going on. They may be using multiple different exchanges, and store coins on multiple different wallets for safekeeping.

In these cases, it can help to set up a crypto portfolio manager. These tools connect with all of your crypto exchanges, along with your crypto wallet. They list all of your current crypto assets in one clean dashboard, so you can see where your entire portfolio stands.

You can also set alerts for your favorite coins to know when prices rise or fall. These can give you indicators of when to sell in order to lock in some profits.

Sometimes coins will hit a high price but will fall back down after only a few minutes. Having notifications set up might mean the difference between profit and loss.

Crypto Asset Management Is Crucial

If you aren’t actively engaged in crypto asset management, then you are probably losing money. If you want to take your crypto investing seriously, you need to use the right tools and build daily habits of tracking and rebalancing to ensure long-term success.

After all, if you want to make money, you need to be intentional with managing your money.

Looking for more advice? Head over to our blog to find other helpful articles now.

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