Picking the Right Portfolio Type
There are two types of portfolios available on Live Coin Watch - Quick Portfolios and Advanced Portfolios. You can create as many Advanced Portfolios as you like, but only one Quick Portfolio per user (for now...).
But which one is right for you?
If you're only interested in seeing the total value of your portfolio, then a Quick Portfolio is a simple solution to begin tracking your coins in just a few minutes. All you have to do is enter the coins you hold and how many - that's it! With just a few clicks you can begin tracking your portfolio value, complete with historical charts and a handy treemap to visualize your portfolio.
If you want to mimic your activity on exchanges as closely as possible, then Advanced Portfolios are for you. Log each individual transaction and we'll aggregate them in real-time to calculate profit, plot your trade history, and more! Advanced Portfolios offer all the functionality of Quick Portfolios plus you can track transaction fees, dates, and P&L.
And don't forget there's no reason you have to choose just one! You can create a new portfolio at any time. Simply navigation to the portfolio page, click the dropdown on the top left, and select Create New Portfolio.
Before creating an Advanced Portfolio we have to first understand the different transactions that are available. There are six types of transactions, broken down into three groups:
Deposit and Withdraw Transactions
Use these transactions to add and remove coins to and from your portfolio. Deposit transactions should be used to track your investments, while Withdraw transactions should be used when cashing out gains. When you create a new Advanced Portfolio, you will be prompted to enter your initial holdings. The currencies you enter here will serve as your first deposit transactions, but you can always add more later.
Buy and Sell Transactions
These transactions should be used for all trades. Buy and Sell transactions will deduct the currency you sold from your portfolio and add to the currency you purchased. In addition to quantity and market rate, you may also include an optional fee that will be deducted. Fees can either be fixed (such as 2.50 USD) or a percentage (such as 0.5%).
Use these transactions any time you receive coins for free. For each Reward transaction, you may enter a source. This can be as specific as "Uniswap Airdrop" or as general as "Staking". These transactions are similar to Deposit transactions with one major distinction. That is, while Deposit transactions are counted as investments, these transactions are counted as pure profit.
It helps to imagine these transactions directly reflecting your activity on an exchange. First, you deposit funds onto the exchange of your choice. Next, you use these funds to buy another coin. Then once you have enough to buy that lambo, you withdraw funds to make the purchase.
Buy / Sell Input Types
There are two ways to record your Buy and Sell transactions - Rate and Quantity. Unless you're an experienced trader and know exactly how these rates are calculated, it is recommeneded that you select Quantity.
When Quantity is selected, you enter the number of coins you sold and the number of coins you received from a trade. Our system will then automatically calculate the market rate for you.
When Rate is selected, you enter the quantity of coins either purchased or sold (depending on whether this is a Buy or Sell transaction), and the market rate of the trade. The market rate is the price ratio of the base currency (the first in the pair) to the quote currency (the last in the pair). That is to say, the market rate is the number of quote coins needed to equal one base coin. You can follow this simple formula to help visualize their relationship:
Advanced Portfolios calculate profit by taking the current value of your portfolio, adding your realized gains, and subtracting your initial investment. In other words, profit is your portfolio value plus the sum of all withdraw transactions minus the sum of all deposit transactions. And before you ask, there are indeed plans to show profit for individual coins. So stay tuned!
When creating Buy and Sell transactions you can choose to include an optional fee. Fees are applied in addition to the inputs above. After selecting a fee, the calculated base and quote quantities (after the fee is applied) will be displayed beneath. Not all exchanges handle fees the same way, so we give you the ability to select both fee type (either a percentage or a fixed rate) in addition to a fee currency. This allows you to deduct the fees from either the currency being purchased or the currency being sold.
Since Trade Column
Directly to the right of the Price column in the Transactions Table is a column titled Since Trade. This column shows the difference between the market rate you logged in this transaction and the current rate of the market pair. Note that in this column the values will be colored green if the transaction was beneficial to you, and red if it was detrimental. For example, if you sold 1 BTC and the price has since dropped by 20% (not a bear, just an example!) this column will show 20%▼. The same goes for Withdraw transactions.
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