Blockchain

How to Track Crypto Portfolios the Right Way

Published

3 months ago

January 18, 2021

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Most crypto investors use dedicated portfolio trackers to monitor their assets. But only a few know that you can get the same wealth of data from a regular Ethereum block explorer, including the value of your coins in USD and the portfolio’s performance chart.

Why and how regular investors monitor portfolios

How do you know if your crypto portfolio is performing well? Lots of wallets will show you the current value of your assets in USD, but that’s just a snapshot. You need to see how the portfolio’s value has changed over time to decide which assets to sell for profit and which to keep as long-term investments.

For this reason, most crypto users who hold more than three different coins sooner or later start using some sort of portfolio tracker. There are dozens on the market, including Blockfolio, CoinTracker, CoinStats, Delta and more.

Six problems with using a tracker app

While the popular portfolio monitors definitely do their jobs, they have a few issues.

1. You have to set up an account and link a wallet. Many trackers (for example, CoinTracker) let you do that using a Google or Coinbase account, but it’s still an additional step – you can’t just go to a page, paste your address and see what your assets are worth. Some trackers even require that you add each asset separately.

Source: CoinStats

Source: CoinTracker

2. Potential security concerns. The best trackers require read-only access. Nonetheless, there are still some risks. For example, a phisher could create a copy of the tracker website to trick you into logging in, or the tracker’s database could get hacked. Basically, using a tracker always means some degree of de-anonymization – and the longer you use it, the more you expose yourself.

3. Advanced features are premium. Most trackers offer only a very basic set of features for free. You have to pay for full analytics – and that means additional exposure of your data.

4. Limited depth – understanding how your portfolio’s value has fluctuated over time can be a problem. Often, you can’t get detailed historical data beyond a certain point in the past, or it takes too long to display it.

5. It’s not possible to track large addresses. Tracker apps aren’t designed to monitor addresses with thousands of transactions and hundreds of tokens, such as exchange wallets. Even if it’s technically possible, it will cost too much.

6. Not all exchanges and wallets are supported. Most trackers have dozens of exchange and wallet integrations but not all allow you to add a random address.

Learn to monitor your assets without a portfolio tracker

What most people don’t realize is that you can also track a portfolio using a blockchain explorer – yes, the same explorer you use to see the status of a transaction, check where your crypto came from or view the average mining fee.

The main advantage of Ethereum monitors is that they can provide you with all the same information that dedicated portfolio trackers do but without the need to set up an account or link a wallet. This is preferred if you do not want to disclose your personal data to third parties. Simply enter your wallet address in the search field – the same field where you normally paste the transaction ID – and hit “Search.”

However, not all monitors have the same functionality. For example, Etherscan gives you a historical chart and the USD value of the ether in your portfolio if you click on the Analytics tab – a Binance wallet is used as an example.

Source: Etherscan

Blockchain.com allows you to research the general situation on the network. The growth in the number of active addresses, the average transaction size, the number of large transactions, the concentration of whales on the network and many other data that can be useful to analysts and researchers are available here for free.

Source: Blockchain.com

Blockchair allows you to investigate the status of the new Ethereum 2.0 network, study validator deposits, the pace of network development and export data for free in a convenient format for further use.

Source: Blockchair

At the same time, Etherscan offers no way to see how much your whole portfolio (ether plus ERC20 tokens) was worth on a specific date. However, you can view your historical balance for each token separately – a feature that Ethplorer and some other monitors don’t have.

Source: Etherscan

One downside is that the balance is displayed in tokens, not in USD. Considering how volatile crypto prices are, that doesn’t help you evaluate how your investments are doing in the fiat equivalent, but there are many other ways to leverage this information. For instance, if you track the address of an exchange and see that its BNB balance has been increasing, it may signify an upcoming sell-off.

By contrast, searching for the same address on Ethplorer will give you a summary of its portfolio, including the total value in USD with all tokens. There is also a historical performance chart, where you can choose between different views – one month, six months, a date range and so on.

Source: Ethplorer

That’s essentially what you look for in a portfolio tracker – the whole portfolio’s value in USD on any given date in the past.

Why block explorers are a better way to track portfolios

Using a free explorer as a portfolio tracker works for any Ethereum address, even if you’ve never copied it into a particular tracker before. That’s because all the information on the blockchain is aggregated automatically, so the tracker can instantly pull it up straight from the ledger and then use price oracles to calculate the assets’ value. The address doesn’t even have to be your own. For example, you can put in the address of an exchange and see how much its holdings were worth last week or last month or last year – no matter how many different tokens it holds.

Another advantage is that the data is gathered and displayed faster than in any tracker app – and for the whole period since the address was created. Moreover, you can click on any asset in the list to see its price chart, market cap, trading volume, contract address and more.

Source: Ethplorer

Conclusion

Portfolio monitoring apps are fine, but you don’t really need them to track your assets. Using monitors like Ethplorer, Etherscan, Blockchair, Blockchain.com and many others is faster, easier and more private than using a special tracker app. This way, you can monitor any address and any wallet – in complete privacy and from any device.

Nick Bel is a cryptocurrency enthusiast and tech writer based in London. He is passionate about finance and emerging technologies such as blockchain, cryptocurrency and artificial intelligence.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Source: https://dailyhodl.com/2021/01/18/how-to-track-crypto-portfolios-the-right-way/

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Blockchain

SafeEarth Donates $100,000 to TheOceanCleanUp Kicking Off Blockchain Eco Project

Published

3 hours ago

April 16, 2021

Republished by Plato

Bitcoin Press Release: Blockchain eco project SafeEarth has donated over $100,000 to TheOceanCleanUp charity with more donations planned for other global charities.

16th April, 2021, London, UK — SafeEarth, a blockchain eco project, has donated over $100,000 to community selected charity TheOceanCleanUp. The donated funds will help towards the removal of plastic waste from the planet. This generous donation represents the first act of SafeEarth’s continuing initiative to help charities across the globe.

The money was raised from SAFEEARTH token transaction fees. From each token transaction a portion of the fees will continue to be used for further donations to charities that focus on green initiatives as SafeEarth looks to effect a lasting and positive change on the planet.

The Ocean Cleanup Head of IT Steven Bink offered his thanks to Safe Earth on Twitter, stating:

“Dear SafeEarth community. On behalf of the entire crew at The Ocean Cleanup, I would like to thank you for this very generous donation. We are also honored that you chose The Ocean Cleanup to be the first charity to receive this gift from @SafeEarthETH”

Safe Earth & Earth Fund

Deforestation, pollution, global warming and many other factors have had an adverse effect on the environment for decades. As the world shifts more towards renewables and eco-friendly alternatives, initiatives like that of Safe Earth represent a changing mentality in industry

SafeEarth’s sole focus is to generate capital and build a community which is able to repair the ecological damage done to the planet. Safe Earth also collaborates with another green charity called The Earth Fund, which has raised around 50 ETH ($125,000 at the time of writing) to be used for similar causes.

#PlasticChallenge

As a part of their plan to raise awareness for ecological causes SafeEarth have also started a #PlasticChallenge on twitter, which urges people to get rid of plastic waste. The challenge (which launched on 27th of March) rewards users from a prize pool of $3,600 in SAFEEARTH tokens.

In the short time since the challenge began the SAFEEARTH token has been listed on the number one DEX Uniswap, recorded $3 million in trading volume and locked away more than $1.5 million in liquidity.

SAFEEARTH Token Burn & Benefits

The SAFEEARTH token is a deflationary asset that uses an autonomous yield and liquidity generation protocol. Each transaction charges a total of 4% in fees, which is then broken up evenly with 1% going to charities, 1% refunded to holders, 1% for advertising and 1% token lock-ups to increase liquidity. By burning at least 50% of the total supply after launch, (which will go to a black hole address) SafeEarth ensures increased token scarcity and liquidity.

$SAFEMARS

$SAFEMARS is the sister token to SafeEarth and available on PancakeSwap exchange. The token uses very similar tokenomics to SAFEEARTH and over 50% of the tokens have already been burned. As none of the transaction fees from SafeMars go towards charity the company has chosen to give more back to users, with a total of 2% going instantly back to the holders wallets and the other 2% is auto-locked to increase scarcity and liquidity. Right now the number of $SAFEMARS holders is growing steadily with 93,699 holders at the time of writing.

Save Earth Through Safe Earth

Harnessing blockchain technology through it’s unique protocol in the interest of both charitable giving and community incentives is helping SafeEarth to stand out from its competition. This $100,000 donation is just the beginning of the company’s mission to effect a lasting and positive change to the planet.

SafeEarth blockchain eco project is already gearing up for another large donation with another 35 ETH (roughly $87,600) reserved for 5 charities that focus on humanitarian causes, such as access to clean water and wildlife preservation. The charities will be chosen by the SafeEarth community and will be announced on Earth Day, April 22nd, 2021.

Media Contact Details

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: press@bitcoinprbuzz.com

Learn more about SafeEarth — https://safeearthcrypto.com/

Buy SafeEarth Coin on Uniswap — https://app.uniswap.org/#/swap

Take off with SafeMars — https://www.safemarscrypto.com/index.html

About Bitcoin PR Buzz

Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 9 years. Get your Bitcoin Press Release Distribution today.

SafeEarth is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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The post SafeEarth Donates $100,000 to TheOceanCleanUp Kicking Off Blockchain Eco Project appeared first on Bitcoin PR Buzz.

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Source: https://bitcoinprbuzz.com/safeearth-donates-100000-to-theoceancleanup-kicking-off-blockchain-eco-project/

Blockchain

Did Elon Musk’s ‘jet fuel’ set GameStop (and Bitcoin) ablaze?

Published

3 hours ago

April 16, 2021

Republished by Plato

Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more.

The CEO and “Technoking” of Tesla was accused of pouring “jet fuel” on the GameStop short-squeeze at a critical moment by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors published Thursday.

Einhorn said Elon Musk and venture capitalist Chamath Palihapitiya were the real instigators behind the short-squeeze, claiming both had supplied “the real jet fuel” for the pump with their tweets and TV appearances.

“We note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation,” wrote Einhorn, according to Markets Insider.

Amid the orchestrated short-squeeze on GameStop by redditors on r/WallStreetBets, Elon Musk tweeted what some interpreted as his support for the endeavor. On Jan. 26, shortly after GME stock was pumped 91% in a single day, Musk tweeted the phrase “Gamestonk!!” accompanied by a link to the WallStreetBets sub-reddit.

Over the course of the next 24 hours, GME stock soared 134%, climbing from a unit price of $147 to $347. The following 24 hours brought even more fireworks, and by Jan. 28, the value of GameStop shares had hit an all time high of $483 — an 18,693% increase on the stock’s value just nine months earlier.

Chamath Palihapitiya appeared to voice his support for the short-squeeze on Jan. 27, when he told interviewers on CNBC that the GameStop saga was an example of the man on the street pushing back against the man on Wall Street.

Einhorn said that “quasi-anarchy” now reigns, based on what he sees as toothless regulation of the stock market. Einhorn compared the situation, where “the laws don’t apply to [Elon Musk]” to the defunding of the police force.

“Many who would never support defunding the police have supported — and for all intents and purposes have succeeded — in almost completely defanging, if not defunding, the regulators,” said Einhorn.

Previously Elon Musk was suggested to have unduly influenced the cryptocurrency market with his vocal support of Bitcoin (BTC) and Dogecoin (DOGE) via Twitter. Legal professionals suggested in February that Musk’s tweets may have acted as a catalyst for the coins’ gains at the time, and warned that such tweets could attract SEC attention.

Musk laughed off the suggestion at the time, claiming that he would welcome any SEC investigation into his tweets, and that he simply liked “dogs and memes.”

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Source: https://cointelegraph.com/news/did-elon-musk-s-jet-fuel-set-gamestop-and-bitcoin-ablaze

Blockchain

Turkey to ban cryptocurrency payments

Published

4 hours ago

April 16, 2021

Republished by Plato

A new ban in Turkey will prohibit crypto holders from using their digital assets for payments, in addition to preventing payment providers from adding funds to their digital wallets at crypto exchanges.

According to a Friday announcement by the Central Bank of the Republic of Turkey, the ban will come into effect on April 30, rendering any crypto payments solutions and partnerships illegal.

The bank stated, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be forbidden.

While banks are excluded from the regulation, which means users can still deposit Turkish lira on crypto exchanges using wire transfers from their bank accounts, payment providers will be unable to provide deposit or withdrawal services for crypto exchanges.

Payment providers and digital wallets are widely used in Turkey to transfer fiat funds to crypto exchanges and vice versa. Major global exchange Binance partnered with local payment provider Papara when they first entered the Turkish market to provide a lira onramp for several different cryptocurrencies.

This new regulation means that users have two weeks to clear their balances if they exclusively use payment providers as fiat-to-crypto gateways.

Historically, the Turkish government has always had a tight grip on the payment ecosystem. In 2016, Turkey banned major global payment provider PayPal in the country.

Crypto regulation is a hot topic for Turkey in recent months. Last month, the Turkish Ministry of Treasury and Finance announced that they are monitoring the crypto ecosystem and working with the Central Bank, Banking Regulation and Supervision Agency, and Capital Markets Board to regulate crypto.

Additional reporting by Cointelegraph Turkey’s Emre Günen.

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Source: https://cointelegraph.com/news/turkey-to-ban-cryptocurrency-payments