Advice from a long term investor: delete your portfolio off your phone and use Google Sheets

I've been investing in crypto since 2017, and with this cycle I've been using Blockfolio to track my portfolio. All things considered, Blockfolio has been great, but it doesn't give you full portfolio information (see below), and it's terrible for your sanity (who else refreshes their portfolio 20 times in a day? That shit's not good for you.

 

I made Google sheet portfolio template that tracks realtime prices for the top 1000 coins, and it's way better, both for tracking and your mental health.

 

Missing numbers on Blockfolio:

 

  1. Checking how much fiat you invested in total
  2. Your total portfolio ROI % (with all your shitcoins, is your portfolio up 50% or down? Blockfolio doesn’t tell you).
  3. Purchasing crypto with crypto profits: When you purchase crypto with other crypto profits, your portfolio on Blockfolio will either double count this or, you have to delete transactions from the coin you sold (it’s super messy).

 

The template I made accounts for all of the above. It works with the Cryptowat.ch API and can track the top 1000 coins in real-time.

 

The full instructions to get the cryptowat.ch API set-up and how to read the Google sheet can be found here.

 

The link to the Google sheet template is here

 

Secondary benefits I noticed a week after ditching Blockfolio for my portfolio:  

Besides having access to more information about your portfolio (Total fiat invested, total ROI etc). I also noticed secondary benefits that’s really helped my mental health and psychology with investing on this rollercoaster:

 

1) You’ll check your portfolio less

You’ll check your portfolio less because it’s harder to check your portfolio (an app on your phone vs. Gdrive on your laptop/desktop). So you won’t idly refresh your portfolio on your phone multiple times a day like people do Instagram.

 

2) Your mood won’t depend on red or green days  

When the price of Bitcoin falls, so does everything else (usually). I've noticed that "red" numbers on Blockfolio can affect your mood and outlook on that day. Since you’re checking your portfolio less, market fluctuations don’t affect you as much (because you won’t know).

 

If you don't think that affects your mood, think about how you feel on "green" days. If your mood is better on green days, then it’s definitely impacted when the crypto markets crash.

 

3) It’s easier to HODL the less you check  

If you’re HODLing crypto for the long term, it doesn’t make sense for you to always know the price everyday – your portfolio on sheets makes your HODL journey way easier

submitted by /u/OwNii
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