How do your track your portfolio? Until recently I had simply 1 exchange account and 1 wallet having almost all my funds. But since I got involved in DeFi, honestly I'm so lost. Farming, staking etc. makes it hard to simply use coingecko portfolio manager. Maybe Excel is a good option? I'd like to hear some recommendations please
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I use CoinGecko to centralize all my wallets and exchange accounts. Before I used Excel and it was too much work to update. The CoinGecko portfolio option is really nice, you can have several portfolios, you get the overall total and you can have it shown on several currencies, eg EUR or USD for me.
Thanks! Tbh I have seen the different portfolios option on Coingecko but not sure how it can help me. Maybe I'll separate the small balances (<$50)
Well for me, I use it to separate exchanges, hardware wallets etc., I have one for Binance, one for Crypto.com, one for my ledger, one for others for example
Overall on CoinGecko, DeFi by excel.
Can you please give an example of how you use excel. I'm totally new to DeFi. I assume it's a list of Farms, Stakes etc. by dates and earnings?
I simply record all my assets before entering the pools - this way I know my initial investment. Than I record the assets from the pool(s) and update the list - weekly basis. I make the difference between them and obtain the profit which I convert to USD using current market price just to have an idea how I evolved.
Awesome. That's what I had in my mind roughly. Weekly checking sounds good