What is a Cryptocurrency Price Tracker?
A cryptocurrency price tracker, as the name implies, is an application that allows its users to monitor the price movement of the coins in their investment portfolios.
These systems, also known as portfolio monitoring services, would allow you to watch everything about the crypto coin you’re interested in, from the increase or decrease in its market cap to its regular trading volumes Bitcoin Era.
As a general rule, staying up to date with current blockchain trends in real-time will result in substantial gains, while missing them entirely can result in lost opportunities and poor investment decisions.
How does a Cryptocurrency price tracker work?
The first phase in the price monitoring process is the same: a price tracker searches a specific website for the product title, price, and stock. Any price trackers go even further, scanning product pages, ratings, photographs, and other related data. The second move is special. Although Google uses this information to rate the website in search results, a price tracker stores the data in a database. A price tracker user can view this information on a dashboard or in a list layout, similar to Excel but typically more sophisticated.
The Benefits of Using Price Tracking Software
Prices are continually fluctuating, and if your company works in a price-sensitive environment, having access to real-time price shift data will help you maintain a competitive advantage by allowing you to react quickly to changes in your competitors’ pricing.
Assosia, a leading price monitoring website provider for companies, discusses the advantages of using price tracking.
1: For merchants
Every retailer understands that pricing is important. The lowest price isn’t a promise of success or perhaps the right approach in and of itself, but most shoppers perceive the price to be one of the most important factors when making a purchase. As a result, as an online retailer, you should be mindful of your competitors’ prices, stock, and margins in order to give your customers a fair price. Keeping track of all these prices and records, on the other hand, can be a time-consuming job. This is where a price tracker comes in handy.
2: Save time
A good pricing tracker saves you a lot of time because it automatically charts the market and, if it has a competitive pricing function, it automatically updates the prices to the current market climate.
3: Eliminate mistakes
Excel is the most commonly used tool for manually monitoring and saving competitors’ rates, but no matter how vigilant you think you are, you run the risk of making errors when moving data. You can eliminate the possibility of making potentially expensive errors by using a validated competitor price monitoring app.
4: Faster response time to price changes
Price wars between companies entail a variety of elements such as coupons, discounts, and deals. If price monitoring is done manually, you would be distracted by the frequent shifts in data; this often made it almost difficult to update the job on a regular basis. Using a digital interface to track pricing allows you to tailor the alerts to your needs, resulting in a substantially quicker response/adjustment period.
5: Improve data analysis
You’ve already saved time and money; now it’s time to improve your data processing. Through engaging in market monitoring apps, you’ll learn about your product’s life cycle/stage, whether it will be cheaper or more expensive in the future, whether price increases can be made on a daily or seasonal basis, and whether discounts or promotions are necessary.
Price management tools allow you to have all applicable pricing details at your fingertips, making it far easier to make accurate choices about your company’s potential growth.
6: Cut costs
The ROI can be realized in a very short period of time. Competitor price monitoring software is more efficient, reliable, and cost-effective than hiring someone to watch prices.
Top Bitcoin and Cryptocurrency Price Trackers
Without further ado, here are the top cryptocurrency price trackers on the market right now.
Coinbase bills itself as the most common Bitcoin, Bitcoin Cash, Ethereum, and Litecoin wallet in the world. That’s for good cause, since it’s incredibly simple to use. Users can conveniently purchase and sell currency using a variety of bank accounts, PayPal, credit cards, and debit cards using the Coinbase app for Android and iOS, as well as the Coinbase website.
CryptoTrax keeps it straightforward while still being powerful. You can find out how different big cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, NEM, NEO, and others are doing through their clean architecture, with real-time market details and portfolio valuation fluctuating every second of the day. A pie chart view provides a visual summary, as well as the most recent headlines on crypto, ICO, and Blockchain.
The app was released in September 2011, making it one of the oldest cryptocurrency charting sites. You may also use the app to watch financial markets other than the crypto industry, which is useful for analyzing trading ideas for companies with exposure to BTC and other cryptocurrencies, such as NVidia or AMD.
Coinmarketcap also chooses which coins to have on the list, and is included on their website is essential if you want to start a new crypto project. Currently, the site constantly monitors over 5000 cryptocurrencies.
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