The post 4 best cryptocurrency portfolio tools to use in 2020 appeared first on Go Cryptowise.
- Do you want to keep track of the value of your cryptocurrency holdings?
- Would you like to get notified when a cryptocurrency is dropping in price and/or increasing in price?
- Would you like to easily track all your cryptocurrency trades for various purposes, such as doing your taxes?
Well if you did answer yes to some or all of those questions then I think you should look into using a cryptocurrency portfolio app.
There are several different types of applications or services that you could use to track the value of your portfolio, track all your trades and keep you informed of any changes to your crypto portfolio.
And some of these tools can also help you sort your taxes out more easily. And automatically create your yearly tax reports.
So I thought I’d share with you some of my favourite tools, apps and websites that can do this for you.
These apps are useful for those who are interesting in holding your cryptocurrencies for the longterm, and for the crypto traders that engage in day trading.
My 4 favourite cryptocurrency portfolio management tools
Ok, let us explore the list of my top favourite crypto portfolio tools. There are a few different types of portfolio tools and apps on this list.
So you could potentially use more than one from this list, as they can serve different purposes. But overall these tools are great for any crypto trader/holder.
CoinTracking is a cryptocurrency portfolio tool/cryptocurrency tax tool combined in one. It lets you keep track of your cryptocurrency holdings, see the changes in price in your chosen fiat currencies, and track it over time.
Also when tax season comes it can help you automate your cryptocurrency trade tax history, and create tax reports for you.
This is a massive help for any cryptocurrency trader due to how cryptocurrency trades and investments are currently taxed in many countries.
It is different from country to country but often every cryptocurrency trade triggers a taxable event. So that could mean a lot of trades to go through if you bought and traded many cryptos over the year. But don’t fret tools like CoinTracking helps you sort this out for you.
In fact CoinTracking is the original cryptocurrency tax tool, and with one of the most extended use cases and features of all crypto tax tools.
But as mentioned you can use CoinTracking perfectly as well as your day to day portfolio tool. Here you can check price charts for all cryptos, an overview for all and individual charts, get extended Bitcoin and cryptocurrency statistics and much more.
Main features of CoinTracking
- Create several different types of tax reports, including FBAR
- CPA help and consultation, and get a list of contacts for cryptocurrency-expert CPAs in several different countries
- Crypto portfolio tracking, see total balance, balance changes, individual crypto holdings, fiat currency value, etc
- Import your trades from every cryptocurrency exchange that has an API service or downloadable CSV files
Cointracker like Cointracking (different names and companies) is a cryptocurrency tax tool with a built-in cryptocurrency portfolio.
So that means you can not only use Cointracker for your yearly tax reports but also as your day to day crypto portfolio tool.
To get started using Cointracker you can sign up either for a free account or a paid version. If you want to make use of both its portfolio and tax tools then you need a paid version.
There are paid version starting from $14.
Cointracker is available both as a web version but also for mobile, with an Android and iOS app.
To track all your cryptocurrency trades and your overall crypto portfolio holding you have a few different ways of doing this.
You can for example:
- Import trades via exchange API or manually via a CSV file
- You can import your wallet information, from your hardware Ledger, Trezor or Keepkey devices, or via the public cryptocurrency wallet addresses
So if you are planning to do your crypto taxes yearly and you also want a great portfolio tracking tool then I would highly recommend you checking out Cointracker
Main features of Cointracker
- Import your all your cryptocurrency trades from exchanges via API or manually via CSV file
- Create automatic crypto tax reports for your yearly taxes
- Share with a tax professional. This is a handy way of sharing your trades and reports directly with any tax professionals that you might be using
- Portfolio tracking tool, follow the changes of your holdings and view it in any popular Fiat currency
With more than 5 million users Blockfolio is probably the most used and popular cryptocurrency portfolio app of them all.
It was definitely the first one to become globally so popular. Helping crypto-users to keep track of their holdings via a simple and nice-looking app.
The main features of Blockfolio is of course to track and see your overall crypto portfolio. All done from your phone.
Additonal services and features of Blockfolio is the ability to set price alerts, so that you will never miss an opportunity or trade.
And the direct crypto news and updates from the different blockchain projects from Blockfolio Signal.
What is cool is that you can connect Blockfolio to other communication tools like Slack, so that you can get signals and price updates there also.
Blockfolio is available for iOS and Android.
Main features of Blockfolio
- Portfolio tool and tracking, see the value of all your cryptocurrencies directly from this easy-to-use app, with value, trade history, price changes
- News and updates from Blockfolio Signal, stay up to date with your favourite blockchain projects and the crypto industry
- Set price alerts for any cryptocurrency, stay in the know with your holdings or coins you want to buy/trade
- Slack integration, your favourite communication tool can now be used together with Blockfolio
After Blockfolio there was Delta. With the rise of cryptocurrency interest and with the interest in tools like Blockfolio more competitive cryptocurrency portfolio apps was launching. With Delta soon becoming one of the most popular ones of them.
This had a lot to do with their improved UX/UI and striking visuals. It was super easy to use, perhaps even better than Blockfolio but it also looked great.
Blockfolio has sincve gotten a makeover but Delta remains perhaps the favourite here amongst crypto traders and hodlers.
So if you want an app with support for any and all cryptocurrencies and cryptocurrency exchanges in an iOS or Android app then go for Delta.
With Delta you can connect with your wallets and exchangest to get your crypto data, holdings and trades.
Delta Direct which is similar to Blockfolio signal where you can get news and updates from the teams behind your favourite cryptos.
Main features of Delta
- Set multiple portfolios, which can be handy for having a separate trading portfolio with your holding portfolio
- Track all your holdings and seeing the value change for all your cryptocurrencies
- Set price alerts and always stay in the know of the prices
- News and updates from your favourite coins and tokens
Now, which of these tools or apps should you go for? Well I think they could be used for the same purpose. As in managing your assets and getting an overview of your portfolio holdings and any changes to it.
But truth of the matter they are different types of tools. So most of us used them for separate purposes:
- Blockfolio and Delta as your day to day cryptocurrency portfolio tool
- And Cointracking + Cointracker as your overall cryptocurrency tax + portfolio tool
But the choice is yours. We can suggest you try them all out and see which one you prefer.
You don’t need to go for the paid versions for Cointracking and Cointracker. You can try it out without it, to see if you like it.
Find other guides
- How to buy on Binance
- The cheapest way to buy BTC
- What crypto markets caps are
- Most profitable staking coins
- How to short Bitcoin
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.
Now it’s time for me to share my experience with others. I am also a business and product developer so I know first-hand what it takes to create a successful product, brand and customer experience.
And I am bringing this vision to my writing and how Go CryptoWise work.
Connect with me on LinkedIn. Ask me anything on here.
Get in touch with me to find out more about Go CryptoWise and what we care about.
The post 4 best cryptocurrency portfolio tools to use in 2020 appeared first on Go Cryptowise.
New Loom Network CEO clarifies concerning information published by former employee
One of Loom Network’s former employees recently leaked information about the company’s Kickstarter-funded game, Relentless (also called Zombie Battleground). The leak alleged that the project, and potentially the entire Loom Network, were no longer actively being developed. The former employee, who has not worked for the company in over a year, claimed that the issues largely stemmed from Loom’s former CEO, Matthew Campbell. Campbell left Loom in Feb. 2020, and was replaced by a new CEO.
“Dilanka accessed our Kickstarter account without authorization and sent out that rambling update,” Vadim Macagon, the current CEO of Loom Network, told Cointelegraph on Sept. 24. “He was let go almost a year ago because he started behaving erratically, and was quite open to some of his team about his drug use (and not just the drugs he mentioned in the update he just published).”
A Sept. 24 tweet from tech expert Bruno Skvorc notified the public of an email sent out to backers of the Relentless project. Cointelegraph reached out to Skvorc for further details, and received a link to the email in question. The email came from “Dilanka,” who worked in the project’s growth and marketing department.
Dilanka asserted that both projects were dead, “or at the very least, currently on life support in the middle of an unpleasant pivot focused on healthcare.”
Loom conducted its initial coin offering, or ICO, in 2018. On May 9, 2020, rumors circulated about Loom’s potential demise, as evidenced by a lack of communication from the project on various channels. Loom responded to the article through Twitter, asserting the company was still very much alive, but wading through a transition into government and healthcare-based enterprise blockchain work. According to Dilanka, the company has not come forward with any new developments since May 26. Loom’s Twitter account, however, uploaded a number of tweets since that time, including a roadmap for the year which was posted on June 30.
Relentless’ downfall, and Loom Network’s alleged failure as a whole, resulted from “lack of product market fit, mismanagement of resources, incompetent leadership from the founders, and a lack of appreciation and transparency toward you, the community who entrusted us with you hard earned money,” Dilanka said, giving his opinion on the situation.
“I (along with many of our former team) was let go almost a year ago, and the fact that I still have access to this Kickstarter account (which I clearly shouldn’t) is another good example of the incompetence I am talking about.”
Dilanka, who somehow maintained access to the Kickstarter account associated with the game, said he has received notice of incoming questions about Relentless over the past year from backers looking for updates.
Dilanka went on to cite a number of issues around the Loom Network, including a lack of communication, as well as questionable actions from former Loom CEO Matthew Campbell.
One example includes Campbell allegedly terminating development on Relentless in 2019, without telling funders, as well as making sure the news did not surface publicly. Loom Network reportedly put more than $1.5 million into building Relentless.
Dilanka, however, provided a disclaimer:
“I don’t know what kind of pressure he [Campbell] was under by investors or what his story is as this is purely my own opinion based on my limited, one dimensional interactions with him as a ‘team member’ of Loom via Slack. In fact, take all of what I say with a grain of salt — I could be 100% wrong about everything. Do your own due diligence and make up your own mind. But yes, had I not worked remotely and Matt was within proximity, I would have happily punched him in his very punchable face to soften his keyboard warrior tendencies in the interest of teaching him some manners… and yes, I made sure to tell Matt (and Luke et al.) [other Loom brass] how I felt about him when things started to go south.”
Loom Network’s current CEO, Macagon, provided insights from the other side of the table. “I’m not going to comment on the outright slander against Matthew Campbell, instead, I’ll focus on the facts,” he said. “Dilanka didn’t lie about the fact that Loom spent more than $1.5 million USD on the game, after all, it was part of our core thesis during the first stage of our startup.” Macagon explained the Kickstarter funding resulted in less than $300,000.
The company put the aforementioned $1.5 million toward constructing “a playable real time game running fully on chain with its own APIs and block explorers,” Macagon said. Relentless boasted an entire experience built on blockchain. More than $200,000 of the $1.5 million was used for marketing — the department in which Dilanka worked.
“We didn’t sell any cards over a few dollars, host any NFT auctions, nor engage in any crypto style fundraising,” Macagon said. Relentless stood as the result of significant time and effort by the team, in part evident in the project’s Github activity. Public appreciation, involvement and popularity never caught on, however, the CEO explained. He said that despite the team trying all conceivable approaches, success proved elusive, spurring the company in a different direction while leaving the game behind.
“I understand that drama is always interesting, but compared to most of the drama in the crypto space, ZombieBattleground is just a normal startup failure,” Macagon said, adding:
“I can understand Dilanka’s frustration to a certain extent, though I don’t understand the state of mind that led him to access our Kickstarter account without authorization, and then publicly admit to breaking contracts and potentially laws. Dilanka is no whistle-blower, he’s just high on something.”
Tax bitcoin as a currency, Israeli political party proposes
New bill proposes to change taxation approach towards bitcoin Bitcoin and crypto assets are subject to 25 percent taxation Another bill seeks to amend reporting intervals for cryptocurrency traders Israel is considering whether to tax bitcoin as a currency, changing the current taxation approach towards crypto. According to a local media outlet, a political party has […]
- New bill proposes to change taxation approach towards bitcoin
- Bitcoin and crypto assets are subject to 25 percent taxation
- Another bill seeks to amend reporting intervals for cryptocurrency traders
Israel is considering whether to tax bitcoin as a currency, changing the current taxation approach towards crypto. According to a local media outlet, a political party has proposed a new bill to change the laws governing bitcoin’s taxation by accepting it as a currency. The new bill, which was submitted in the Israeli government’s Knesset legislative branch, recommended several modifications for cryptocurrencies.
In Israel, the revenue generated from trading bitcoin and other cryptocurrencies is subject to a 25 percent tax. As such, the new seeks to exempt bitcoin from capital gain taxation by amending the Income Tax Ordinance. The legislation was presented by four members of the Yisrael Beiteinu party on September 22.
Tax bitcoin as a currency, not an asset
In May last year, an Israeli central district court ruled in favor of the central bank, which recognizes bitcoin as an asset. A blockchain entrepreneur, Noam Kopel, had appealed against the decision to impose taxes on bitcoin by Israel’s tax authorities. Kopel argued against taxing the sale of bitcoin. A new attempt to tax bitcoin as a currency has just begun.
Bitcoin’s status as an asset in Israel is subject to capital gains tax. Tax agencies only offer reliefs to CPI-related lenders and sale of bonds and commercial securities who only pay 15 percent from gains generated.
Nevertheless, the legislators argued that the discernment towards cryptocurrencies needs to be reevaluated. Furthermore, the legislation seeks to add another section on Income Tax Ordinance regarding the “determination of distributed digital currency.” The finance minister can specify the terms for recognizing cryptocurrencies as a distributed digital currency fro the section.
Another cryptocurrency bill tabled in the Knesset
Besides, the Knesset received a separate bill seeking to define reporting intervals for cryptocurrencies to taxation authorities. The new bill wants to space the reporting intervals for digital assets once every six months or once every year.
Currently, cryptocurrency traders in Israel report the sale of a crypto asset after 30 days are over. The new legislation is looking to extend this interval to once every year or once every six months. Recognizing bitcoin as a currency might be the gateway to increased adoption of cryptocurrencies in Israel.
Twitter Implements New Policies and Steps Up Security Following July’s Hack
Following July’s hack-turned-Bitcoin-scam, Twitter has implemented new policies and training to prevent a shutdown of their worldwide service. On July 15, 2020, Parag Agrawal, Twitter chief technology officer, began hearing about phishing scams around the company’s offices. Someone was calling up engineers, pretending to be IT, and getting them to reset their passwords. In fact, […]
The post Twitter Implements New Policies and Steps Up Security Following July’s Hack appeared first on BeInCrypto.
Following July’s hack-turned-Bitcoin-scam, Twitter has implemented new policies and training to prevent a shutdown of their worldwide service.
On July 15, 2020, Parag Agrawal, Twitter chief technology officer, began hearing about phishing scams around the company’s offices. Someone was calling up engineers, pretending to be IT, and getting them to reset their passwords.
In fact, they were hackers phishing credentials to get into Twitter’s corporate network. The coveted OG username handles @drug, @xx, @vampire, were being hacked, and Twitter’s rapid response team was handling it, at first.
That was until Binance’s account tweeted that they were giving back $52 million dollars to the community, and Elon Musk’s account was tweeting an old Bitcoin scam. Agrawal told Wired that by around 4 pm ET, every device he had was buzzing.
Soon, Bill Gates, Uber, and even Jeff Bezos proved to be compromised as well. Agrawal had a decision to make: would he shut down all of Twitter or just these accounts? There was also the issue, Wired noted, of being unable to inform the public of Twitter’s hack when news accounts themselves might be compromised or locked.
These questions all led to an overhaul of Twitter’s security policies and activities.
Training for Specific Types of Security Breaches
Since July’s attack, Twitter has been planning for the upcoming US General Election, a day when a media hack could be detrimental to the public. On Sept. 24, Twitter revealed new security protocols, mandatory employee training, and policy shifts.
According to Twitter’s blog post, higher scrutiny will be given to company individuals getting higher security clearances. The security team has also implemented more rigorous software to automatically detect unlawful or suspicious activity.
Though the post does not discuss the details of the mechanism, it still urges users to provide higher security to their own accounts, such as two-factor authentication. It also suggests that some high profile accounts now have tighter security.
The new protocols also include better testing and education. New employees will undergo more rigorous security training, the security team has updated passwords and keys, and a special “penetration testing” occurred during March until August of 2020. This task force trained for specific types of security breaches.
The July attack required some evasive maneuvers to patch up. The security team felt they could not shut down Twitter all together. At the time, they did not have a mechanism in place to identify compromised accounts. Damien Kieran, Twitter’s global data protection officer, told Wired this put him in a tough position. He said:
“We had to assume everyone was untrustworthy.”
So, Twitter decided to shut down all verified accounts. This included many news services that could communicate about the hack.
Twitter said it took them over a month to get back to a baseline, though not all employees received their formerly high levels of security clearance. Users with 10,000 followers or more, a former Twitter security engineer said, would likely see more stringent scrutiny. Likewise, some high-level approvals now require two sign-offs. The idea is that it would be much harder to coordinate a takeover of two seemingly unrelated internal accounts.
Following the July breach, Twitter quietly blocked Bitcoin addresses from tweets. The company has not said exactly what other automatic filters it has implemented.
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