Cryptocurrency Tracking Tips For Trading – Best Ways To Monitor?
Let’s face it, cryptocurrency is here to stay, and if you’re looking to invest in this huge, potentially life changing opportunity, you need to have a way to keep track of all the cryptocurrencies you want to invest in.
If you’re looking to invest in just a couple, this might not be necessary as you can just pull up the data whenever you want. But, when you’re looking to trade and invest in multiple cryptocurrencies – or trade multiple times a day, you need to have a way to consistently track and monitor their performances.
While there are several cryptocurrency tracking options available in the market, they tend to be somewhat expensive, and limiting –you would have to manually enter your cryptocurrencies and even pay for some add-ons.
If you don’t mind paying the money, and still do some work anyway, no problems. But, why would you want to pay a lot of money for a cryptocurrency tracking software when you can just use Google Sheets. Yes, the same one you know.
Sure, using google sheets as a cryptocurrency tracking software requires some knowledge –that you can get for free- and expertise to get it to the point where it runs very smoothly and requires very little time to run, use, maintain and update.
Our Best Cryptocurrency Tracking Tips For Trading
The good news is that thanks to Google Sheet’s very user-friendly API, this is not as hard as it would have ordinarily been. While Google Sheets was never built for this, the reality is that it does work and plays a role.
All you have to do really, is use the CryptoFinance add-on, and you will be able to comfortably track the price of each cryptocurrency you’re interested in, and monitor them in real time. Another interesting thing is that you can actually configure this to reload as frequently as you want, thus helping you keep track of your preferred currency price movements.
How Does CryptoFinance Add-On For Google Sheets Work?
The biggest data site on all cryptocurrencies is CoinMarketCap. You’ll get all the info you need on just about any cryptocurrency that exists –even the obsolete or non-performing one. This site uses an API that helps it pull and compile all the necessary data in real time. Google Sheet’s CryptoFinance add-on takes advantage of this by pulling its data from the same API.
This free add-on is incredibly useful in the management of your cryptocurrency portfolio if you’ll be using google sheets to track your favorite cryptocurrencies.
How To Use CryptoFinance Add-On
The process is pretty simple. For starters, you’ll need a Google account – who doesn’t these days?!
Then navigate to Google Drive –you’ll find this by clicking your initials in the upper right hand corner of your email. Or just enter: drive.google.com/drive/my-drive in your browser to locate the drive.
Click this, then, click New, you’ll see a dropdown menu with Google Sheets. Click Google Sheets Once you’ve set this up, you can easily bookmark it and add to your browser or taskbar for easy access.
Using the sheets is pretty straightforward and easy. If you have ever used an excel spreadsheet, the process is pretty much the same. If you haven’t, look it up on Youtube. It’ll only take a couple of minutes to get the hang of it.
Once you have set this up, simply name the file as you please and start creating your own cryptocurrency spreadsheet. Once this is up, it’s time to go a-fishin’. You need to locate the CryptoFinance add-on. To do that, here’s what you should do:
- Click Google Sheets, allow it open.
- Navigate to the Add-Ons tab, at the top of the file. Click that, followed by Get Add-Ons.
- Once the add-ons interface pops up, use the search too and search for CryptoFinance.
- Click the blue “+ Free” button on the upper right corner to install the add-on.
- Once you click, a new window will pop-up with Google asking to choose an account to enable the add-on in.
- Select the account, you’ll be taken to another page where permissions will be requested. Don’t worry, they are non-invasive. Click the blue “Allow” button at the lower right corner of the window.
- Once done, check to see if the add-on is activated. To do this, click Add-Ons, followed by “Manage add-ons”, choose CrytoFinance, and check the box next to “Use in this document”
There you go, you’re all set up to use the add-on. Everything you need to get started with the add-on is right there, so don’t worry about not understanding it.
Starting With Google Sheets And Inputting Your Cryptocurrency
The good news about using the CryptoFinance add-on and Google Sheets is that you can track as many as you want. There’s one limitation though: it would take a really long time to get all that data, particularly if you’re thinking of extracting the CoinMarketCap data.
Why anyone would though, beats us. You might as well visit the site and just look up all of them. This cryptocurrency ranking solution works best for just a handful. Use it to check on your portfolio, and use the CoinMarketCap site for all the others.
Using this simply involves, entering the name of the cryptocurrency in one box, and the information you’d like in the other boxes in one row.
Don’t overthink this, just input the data like you would in your regular spreadsheet. For example, you’ll have a column for Name, another for Prices, another for Volume traded (24 hours), another for Max Price Traded in 24hrs, and another for Least Price Traded in 24hrs. Please remember that you can adjust as you see fit.
To get more information on how to use advanced strategies to modify the Google Sheets to your personal standard, go to CryptoFinance website. You’ll find all the information and strategies for effectively using CryptoFinance in your Google Sheets Cryptocurrency tracking tool.
While there’s a whole lot more to this tool, you can at least get with it right away and start managing your cryptocurrencies comfortably. Good luck and see you on the other side of crypto profits.