Metamask is one of the most popular dApps in the world of decentralized finance. Newcomers and experienced traders alike enjoy the benefits of convenience, the variety of options it offers, and access to an entire defi market.
But if you’re new to cryptocurrency, you might be wondering what Metamask is.
What is Metamask?
Metamask is a browser extension that also acts as a wallet for Ethereum, where users can store ETH and other ERC-20 tokens.
Metamask also connects to other dApps, and users can spend their coins, stake them, or trade them on decentralized exchanges. Metamask provides a convenient access point to various defi ecosystems as well as giving users a reliable means of creating a portfolio.
How do I track a Metamask portfolio?
Depending how complex your portfolio is, you will need some way of keeping track of your crypto assets. If your defi portfolio is simple or your trading strategy is to hold your coins in your wallet, you would most likely be able to get away with a manual entry system to help you keep track of your net worth. Some users in the past have managed just fine with spreadsheets or a trading journal.
But if you want to sell defi assets or buy at the right price, the manual tracking method is slow, tedious, and could lead to you missing out on the best prices. You need reliable price data with accurate, up-to-date information.
A crypto portfolio tracker is the answer
With the explosive growth in the defi industry comes a new generation of cryptocurrency portfolio trackers. If you have tried a portfolio tracker in the past and discovered that it was hard to use or didn’t do the job you wanted it to, don’t give up.
The newest offerings are catching up with market needs and a new cryptocurrency portfolio tracker is not the same as the earliest ones. Managing your defi assets no longer has to be difficult or time-consuming, with the best crypto portfolio trackers now able to easily connect to exchange accounts and cover your entire defi portfolio in a few taps on your home screen.
Dexfolio’s portfolio tracker keeps the future in mind
Designed specifically for decentralized finance, Dexfolio’s app is streamlined so that it is simple to use. After extensive community consultation, Dexfolio has added the features that users need most, making the app fast and user-friendly, with a sleek, visually appealing design with a touch of minimalism. This is the dApp for those who dislike excess clutter or unused features and want something lean and fit for the purpose with a simple interface and clean design.
In addition, Dexfolio plans to continue consultation with the community to add new features as the industry grows. Decentralized finance today is moving at such a rapid pace that the company recognizes the need to grow with it, thus future-proofing the dApp.
Portfolio tracking made easy
Dexfolio’s features should make most cryptocurrency enthusiasts happy. Although true that no app fulfills every purpose, Dexfolio makes it easy to track your portfolio, check your net worth, buy and sell defi assets, monitor market movements, and set parameters for crypto alerts across your entire defi portfolio or a single defi asset. You can watch trending tokens.
In addition, users can connect multiple crypto wallets, and access to the Uniswap, Pancakeswap and Polygon exchanges is inbuilt. Any other crypto exchange compatible with Ethereum or the Binance Smart Chain can be onboarded easily, and users can access advanced roi metrics.
Dexfolio also makes it easy to compare historical returns and check your trade history and your wallet history. With all your financial accounts in one place, preparing for your tax return just got easier, too. Digital assets have been under scrutiny for tax purposes, so it’s important to keep accurate records.
Why a mobile app?
Many of the current portfolio trackers are based on desktop designs, meaning that you need to be at a desktop to track your portfolio. Others have adapted a mobile app from desktop apps, leading to cluttered code and an awkward user experience.
Dexfolio saw the need for a mobile app that was designed by traders for traders. Available as an Android app or for ios, it is built on clean code that offers a fast, seamless experience. Rigorous testing among beta users has seen developers working to ensure that the user experience is the best.
Keep your defi assets safe
Security is paramount, with large-scale thefts and hackings making off with vast sums over the past couple of years. Therefore, it’s important to check the security features of any dApp before you consider using it.
A good defi instrument will have multiple security measures in place, and it’s best practice to always use an offline wallet such as a hardware wallet to store your private keys. The risk of storing them with third parties is high and it should be avoided unless you’re comfortable with that level of risk.
Multiple wallets are a good idea, and you should have at least two hardware wallets that are clones of each other, so if some mishap befalls one, you still have the other.
Dexfolio’s user-friendly mobile app a good option for crypto investors
Fast and easy to use, Dexfolio appeals to beginners and seasoned traders alike. Its ability to smoothly navigate the entire defi market is appealing to traders with memories of other portfolio trackers that are time-consuming, tedious, or difficult to use.
With your portfolio in your pocket, you can access it in seconds, responding to alerts on the go. Even if you are just interested in a single defi asset, you can get fast trading data to help you make informed decisions as you go about your everyday life. If you are an active trader, you no longer have to put your life on hold to track your portfolio. With information on all your assets at your fingertips, you can be rest assured that you’re making decisions based on the best information available.
How do I track my crypto portfolio?
The easiest way is to use a portfolio tracker that can track assets across the entire defi market. The best cryptocurrency portfolio trackers will include features such as being able to connect to one or more cryptocurrency exchanges, compare historical returns, get a full wallet history, manage holdings simply and easily, track transactions, and monitor how much money you’re spending in fees. It should also offer useful and reliable price alerts.
How do you keep track of cryptocurrency?
If you only have one coin or a very simple portfolio, it’s possible to keep track of your trading activities manually using a spreadsheet or trading journal.
If you’re an active trader with multiple coins, a crypto portfolio tracker is the easiest way, especially if you are also dealing with fiat currencies.
Are crypto portfolio trackers safe?
Security is a serious matter and you need to do your homework to determine what security features a crypto portfolio tracker offers before you use it. Some are safer than others, but it always rests on the user to understand the risks and take precautions.
Is Metamask safe?
Metamask is what is known as a “hot wallet.” A hot wallet stores private keys on a browser or server; in this case, they are stored on a computer browser, which means the user has control over them rather than third parties. However, this means that the user is responsible for securing their private computer and the keys are only as safe as the security system on the computer.