[review] CoinMarketCap Crypto Portfolio Benefits and improvements
There are many websites that provide crypto portfolio service for users to manually put the crypto assets to track the holdings and profit/Loss.
If you are a user who only use one exchange and keep your assets there, there is no such thing required as crypto portfolio management (most exchanges provides the data by themselves). but as a user who use more than one centralized exchange from multiple countries(equal to multiple fiat currencies) plus multiple wallets (Metamask, hard wallet etc..) I have definitely needed to have a management tool. one of my friends shared with me a useful excel format that he has developed... but I got stuck updating the formats when implementing multiple wallets and currencies.👀 that was where I started exploring online free crypto portfolio management tool. and I end up using CoinMarketCap.
why I need a manual portfolio :
Of course all automation by syncing with my each exchange/wallets will be super ideal. However, I can’t use or don’t need a automated sync tool because,
- my assets are everywhere as in multiple centralized exchange accounts, Metamask and a hard wallet. as my assets especially in exchange is not with an address, the sync won’t happen.
- I don’t want to waste trx fee to move my assets into one wallet which can be synced for a portfolio tool. there is no point for that (apart from a security concern from centralized exchange) as long as I just want to keep them for investment.
- even though I have all my assets in few wallets which can be synced, there will be no accurate info about ‘profit/loss’.
Benefits that I have found useful on CoinMarketCap Portfolio.
- it supports multiple fiat currencies so I can add transactions with my preferred currency. and I can quickly switch to others.
2. each transaction can be added with ‘fee’. it is quite ashamed that fee can be added as only with a fiat currency. (related to a suggestion #4 below)
3. Price per coin can be added with manual input regardless of the time and date of transactions. (I love this!) the exact price at the time of transaction was something that I had difficult to manage in excel…(I struggled a lot with API 🤪) so convenient to input.
4. basic but great visual chart and clear UI to understand profit/Loss per asset type.
as I was struggled a lot to have a same results from excel.. I sincerely appreciate the service and detail features (and it’s free).
Things to improve ( would be great :))
but there are of course some features that I would love to have and suggest to implement 😍. I would say still CoinMarketCap portfolio is not 100% for active DeFi user who do staking, swapping, depositing tokens into the contract.
- Add an attribute ‘wallet’ or ‘account’. it would be great if we can differentiate the transactions per wallet/account so that we can clear see where the assets are.
- Add ‘transfer to other wallet’ (internal transfer between wallet/account). currently ‘transfer’ action is only for ‘transfer out’ and ‘transfer in’. so I have used ‘Transfer out’ for ETH transactions fee that I have paid when staking and buying NFT. if suggestion 1) is implemented, this feature will be also mandatory..
- Add ‘Token swap’ transaction. when I tried to input my transaction swapping ETH to DPI, I needed to input 2 separate transactions : 1)‘Transfer out’ to remove amount of ETH and fee 2)’Buy’ DPI with the manual calculation of the price. it would be great to have the token swap transaction instead of putting 2.
- Fee as crypto currency. as mentioned above, fee can be added only with fiat currently. there are many transactions with crypto currency fee, so would be great to have this improvement.
- Import/Export to excel feature. as long as there is a feature sync with excel file.. it would a PERFECT crypto portfolio management tool!
above are my personal opinions about CoinMarketCap portfolio, and I am sincerely appreciate to the team who provide this service! I will use it until I find a better one that I can easily input my transactions.
