Keeping track of what you hold
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 5 min
In short
You can pull holdings scattered across exchanges and wallets into one view either with a portfolio service or with a spreadsheet you maintain yourself. Either way the purpose is the same: to see the total and to see where it is concentrated. When you use an outside service, give it as little as possible.
Key points
- Work in order: inventory where things are held, choose how to record them, set how often you update
- Give outside services only public addresses or read-only API keys
- Displayed valuations are indicative and differ by price source
- A single view solves neither price risk nor your tax position
Definition
Bringing holdings spread across multiple exchanges and wallets into one place so you can see the total and the mix, and keep seeing it over time.
The first task is an inventory, not a total. Write down which exchanges you have accounts with, which wallets you use, and any place you no longer use that still holds a balance. Miss something here and no tool will give you a complete picture afterwards. Paper or a spreadsheet, it does not matter — just list the locations.
Then decide how to record it. Broadly two options. One is a portfolio service where you enter an address and it shows the tokens held, sometimes including positions deposited into DeFi. The other is a spreadsheet where you enter quantities yourself and add prices as you go. The first is less work; the second hands nothing to anyone.
If you use an outside service, decide in advance how much to give it. For viewing, entering an address is normally enough — no wallet connection or signature required. For an exchange connection, restrict yourself to a read-only API key with no withdrawal permission. Never enter a private key or seed phrase, whatever explanation accompanies the request.
Then set a review rhythm. Looking every day tends to increase the urge to trade. Checking the mix and the total once a month serves the purpose perfectly well. What you are looking for is less the change in value than whether you have become too concentrated in one asset, and whether everything is still in a form you could move when you needed to.
Finally, what a single view does not give you. The valuation shown is indicative, based on whatever price source the service uses, and is not what you would actually sell at. Values for assets deposited into DeFi involve more estimation still. And it will not produce your taxable gain — that needs a per-transaction record, which the articles on exporting data and calculating gains cover.
Watch out for
- · Never use a portfolio service that asks for a private key or seed phrase. No exceptions
- · For exchange connections, use read-only API keys with no withdrawal permission
- · The valuation shown is indicative and will not match what you can sell for
Frequently asked questions
Does entering just an address leak anything?
The address itself is public, but the service records it alongside where the request came from. Registering several addresses together also tells it that they belong to one person. If that matters to you, keep the record in your own spreadsheet instead.