Crypto market is a not so old investment market that deals in the exchange of cryptocurrencies. The market came into existence only in the first decade of the 21st century. Crypto market came into being in 2009 with the launch of the first ever cryptocurrency, the Bitcoin (BTC), which has ever since been the most popular, expensive and the most valuable of all other cryptocurrencies available today.
Trading in cryptos has always been really easy and as of this time it’s more fun than it ever really was. All that you as an investor need to do is to just open a crypto wallet through any crypto trading platform and then purchase some cryptos, which you are advised to do only when you have had a proper insight into the crypto market. Once you have purchased some crypto currencies it will be reflected in your wallet and appear in your portfolio. Now all you are supposed to do is to track crypto portfolio on your trading platform and initiate an exchange when you see fit. Your portfolio is basically a summarised and well organised report of the investments you have made.
What is a cryptocurrency?
A cryptocurrency is basically a digital form of currency which unlike the paper or plastic currencies has no particular physical form and here the transactions are verified and operated through a decentralised system, unlike the conventional paper, plastic or metal currencies, which are printed and managed by a centralised system controlled by the government of the concerned system.
However, this decentralised system is in fact tax monitored in some countries, like in India the government charges a tax rate of 30% on your overall profit gained by the crypto exchange.
Something about portfolio tracking
As mentioned earlier, once you buy crypto currencies, you are now supposed to keep a proper track record of your portfolio. You now need to watch out for the gains and losses in your portfolio. Portfolio tracking is therefore an important task in crypto exchange and hence needs to be properly looked after. It can therefore get hectic and monotonous; you can instead assign the job to a reliable and efficient platform which is the best way to track crypto portfolio and ensure maximum profit on your portfolio. The platform you choose would therefore track your portfolio for you and make necessary suggestions pertaining to your profit.
Binocs is the one crypto portfolio tracking platform which tracks the crypto portfolio for its clients and makes necessary financial advice to ensure that their clients make the best investment decisions. They also offer a tax calculation feature which helps calculate the tax you would have to pay against the crypto exchange you have initiated. Binocs is indeed your one stop destination for all your crypto needs. So, if you are looking forward to investing in cryptos and hence need a proper tracking platform for tracking your portfolio and your other crypto needs, Binocs has to be the best option you can consider.