USDt's launch on TON leverages Telegram's massive user base for enhanced peer-to-peer payment efficiency. Learn more here.

Stablecoins play a pivotal role in the digital economy, offering a bridge between traditional fiat currencies and the volatile world of cryptocurrencies. Tether (USDt), the foremost stablecoin by volume and usage, has expanded its reach by launching on The Open Network (TON), a significant move that integrates with Telegram to streamline 

In this article, we’ll explore USDt’s launch on TON, the advantages of USDt being on TON, how this launch benefits the ecosystem, and the ongoing Bybit x TON campaigns that you can participate in.

, widely recognized by its symbol, USDt, holds the title of most heavily utilized stablecoin in the cryptocurrency market. It boasts an impressive daily transaction volume that has exceeded $85 billion and maintains a total market capitalization of over $106 billion. Each USDt token is directly pegged to the U.S. dollar at a 1:1 basis and is 

This stability is critical, distinguishing USDt from more volatile cryptocurrencies and making it indispensable for daily transactions, trading, remittances and safeguarding assets against the fluctuations common in the digital currency market. The inherent stability of USDt renders it a preferred medium for various financial activities, including exchange platforms, decentralized finance (

Previously, USDt lacked a distribution platform that could truly simplify and globalize payments for a wide audience. Its recent integration with TON addresses this void by offering an easy-to-navigate, globally accessible payments experience with the potential to reach millions.

, a blockchain network designed for speed and scalability, is deeply integrated with Telegram, a popular messaging platform. This integration enables TON’s blockchain to leverage Telegram's extensive user base, providing a seamless and intuitive user experience for cryptocurrency transactions directly within the messaging app.

The launch of USDt on TON, announced in April 2024, provides 900 million monthly active Telegram users with a fresh 

 experience, enabling peer-to-peer payments on a global scale. 

 views this as a pivotal advancement in leveraging digital currencies for everyday use worldwide. In collaboration with Tether, TON is set to simplify one of the most common financial activities—peer-to-peer payments—making them as straightforward as sending a message, with no intermediaries, borders or limitations.

Paolo Ardoino, CEO of Tether, has expressed enthusiasm about this initiative, highlighting its alignment with TON's vision for an open, decentralized internet and a borderless financial ecosystem. According to Ardoino, the integration of USDt with TON will facilitate seamless global transactions, offering an experience that rivals traditional financial systems and supports the broader mission of enhancing financial infrastructure across the blockchain domain.

This strategic move is integral to TON's broader mission of embedding cryptocurrency use into everyday life and making digital assets accessible right from Telegram, thus potentially onboarding hundreds of millions into the web3 ecosystem. This represents a significant step toward actual use cases of cryptocurrency that hold the promise of widespread adoption.

11 Million Toncoin in USDt Launch Incentives

To mark this significant launch of this initiative, substantial incentives have been designed to attract early adopters. A total of 11 million Toncoins have been allocated as incentives, including: 

These incentives are time-sensitive, which underscores the launch's unique appeal and potential impact.

Note, however, that the availability of USDt on TON is restricted in certain regions, including the mainland U.S. and its territories, as well as for U.S. citizens and in prohibited countries as defined under Tether’s Terms of Service, due to regulatory considerations.

The deployment of USDt on TON heralds a new era in digital finance, leveraging the network's superior efficiency, scalability and security features. Combined with the expansive reach of Telegram, the platform sets an ideal stage for enhancing USDt’s accessibility and utility.

Following are the main advantages of USDt on TON.

These features embody the vision of a decentralized, peer-to-peer financial system without intermediaries, aligning with Bitcoin creator 

’s vision of “a purely peer-to-peer electronic cash without an intermediary.”

How Does USDt on TON Benefit the TON Ecosystem?

Integrating USDt with TON and its native Wallet in Telegram significantly enhances the user experience for the TON community. This integration allows USDt to operate as a native stablecoin within the TON ecosystem, enabling users to send USDt to anyone globally through Telegram at no cost. Unlike other on-chain wallets that might involve additional fees, transactions within the TON ecosystem are free of hidden charges, with users only responsible for nominal network fees. Soon, they’ll also have the option to cover on-chain gas fees using USDt-TON, further streamlining the process.

This development is particularly advantageous for those new to cryptocurrencies. USDt on TON serves as a welcoming gateway, merging the benefits of digital currencies with the stability of traditional fiat currencies. This blend significantly simplifies the crypto experience, providing newcomers with a stable and secure platform to explore DeFi on Telegram and broaden their understanding of the digital economy. 

Additionally, this integration not only enhances usability but also fosters inclusivity, making digital currencies more accessible and functional for a global audience.

To celebrate the launch of USDt on TON, Bybit is holding two exclusive events where you can earn a share of the total 120,000 USDt prize pool! The events are being held from Apr 29, 2024, 10AM UTC through Jun 23, 2024, 11:59PM UTC.

Event 1: Learn & Earn: TON Airdrop of 80,000 USDt

Grab a share of the 80,000 USDt prize pool by following the four simple steps below:

All eligible participants will split an equal share of the prize pool, capped at 3 Toncoin per user,

Event 2: Refer & Earn: Invite New Users, Unlock 40,000 USDt in TON Rewards

Interested in learning more? Simply invite new users to join Bybit and participate in the first event. Both you and your qualified referee will receive 0.3 Toncoin each.

Please take note that rewards will be distributed on a first-come, first-served basis.

The launch of USDt on TON is more than just a technical integration: it’s a strategic expansion that could redefine global digital payments. By combining TON's advanced blockchain technology with Telegram's widespread adoption, Tether has positioned USDt to significantly influence the future landscape of DeFi and peer-to-peer payments.

Intermediate

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USDt on TON: Streamlining Peer-to-Peer Crypto Transactions

Complete these steps to deposit easily on Bybit, fast and easy. Don't worry, it's beginner-friendly.

Looking for a guide on how to deposit funds on Bybit? We hear you! Here’s a detailed operation process so that you can easily make a deposit by transferring cryptocurrency from your external wallet, or purchasing fiat currency to deposit to your Bybit account.

Funding Your Bybit Account: Depositing Crypto on Bybit

Before you can fund your Bybit account, you first need to 

. If you don’t already have one, please click on our 

. After you’ve done that, we can explore the different ways you can fund your Bybit account.

If you already have funds in an external crypto wallet or on another exchange, you can choose to deposit crypto into your Bybit account through a blockchain transaction. However, you should be aware of the following:

: Once you’re logged into your Bybit account, hover your cursor over the 

tab on the top right corner of the Bybit home page. Then, click on 

: Choose the coin that you would like to deposit. 

: Select the chain type for the coin you would like to deposit. You can also choose where you would like your funds to be transferred — your Spot Account, Derivatives account or Funding Account — by indicating this in the 

field. The deposit will be credited to your Funding Account by default.

: Once you’ve confirmed the details, you can proceed to scan the QR code or copy the deposit address and use it as the destination address.

: Once you’re logged into your Bybit account on the Bybit App, tap on 

located on the bottom right corner of the screen) and select 

: Select the coin that you would like to deposit.

: Select the chain type for the coin that you would like to deposit. The deposit will be credited to your Funding Account by default.

: Once you’ve confirmed the details, scan the QR code or copy the deposit address and use it as the destination address.

Funding Your Bybit Account: Buying Crypto on Bybit 

Don’t have any funds in your external crypto wallet? Fret not, because you can easily 

Buying Crypto with Credit/Debit Card Payment

: After you’ve logged into your Bybit account, hover your cursor over the 

tab on the top left corner of the Bybit home page and click on

and input your credit/debit card information. 

: After you’ve added your credit/debit card, select the fiat currency that you would like to pay with. Then, select the coin that you would like to receive.

: Input the amount that you would like to purchase and select the credit/debit card you’ve added. Then, click on 

: You’ll be asked to verify your purchase. If the details are correct, you may proceed to click on 

: The card payment will be processed and you may be prompted to key in a one-time password or confirm the transaction from your bank app.

: Once the transaction is completed, you can click on 

: Click on the drop-down menu and select any of the available third-party service providers. 

: After you’ve chosen your third-party service provider, input the amount that you would like to purchase and select the coin you would like to receive. Then, click on 

. Select the coin that you would like to receive.

: Choose your payment channel and verify your purchase. If the details are correct, you may proceed to click on 

: You will be redirected to the third-party website to continue the purchase process. 

tab on the top left corner of the Bybit home page and click on 

: Select your preferred fiat currency by clicking on the drop-down menu, and input the amount that you would like to deposit. You may then choose your preferred 

: After the transaction has been processed, you can view your fiat currency under 

tab. You can then proceed to purchase crypto with these funds.

Beginner

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How to Make a Deposit in Bybit (A Complete Guide)

Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit: Close

Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit:

Head over to the Positions tab. There, you can close a partial (or an entire) position by clicking on either the 

    (b) Select a proportion of the closing quantity

    (b) Enter the closing quantity, or

Select a proportion of the closing quantity

Place a New Order in the Opposite Direction

For Inverse Perpetual and Inverse Futures Contracts (in One-Way Mode)

, you may place a new order in the opposite direction of your current position in the order zone.

In this example, a trader is holding a long position of 10,000 BTCUSD contracts. To close 50% of the position, he or she can place an order for 5,000 short positions. This will close off 5,000 existing long positions once the order has been filled.

For USDT Perpetual and Inverse Futures Contracts (in Hedge Mode)

 tab in the order zone in order to submit an order in the opposite direction.

Ensure that you are in Hedge Mode. If you are not currently in Hedge Mode, select the settings button located on the top right corner of the trading page, as shown below to set your trading preferences. Once done, proceed to the 

First, please set your trading preferences — TP/SL on Entire Position, or TP/SL on Selected Position — via the settings button on the right side of the trading page.

Your Take Profit and/or Stop Loss order has been submitted.

In order to better understand the partial TP/SL, let us assume that you are holding a long position of 10,000 BTCUSD contract quantity at $38,883.90.

You can pre-set 2,000 BTCUSD contracts at a position with TP at $40,000, and another 2,000 BTCUSD contracts at a position with SL at $36,000. When the price of BTC rises to $40,000, a partial close will successfully occur and a Take Profit order will be executed.

This feature allows you to place multiple TP or SL orders, so that when the underlying asset price surges or plunges, only a portion of your position will be closed. If a market reversal occurs, you can continue to benefit from your remaining position.  

open-trade.jpg

How to Close a Trade on Bybit

What would happen after SEC Approval of Ethereum Spot ETFs? Read on as we offer Ethereum price predictions and suggest trading strategies that you can adopt.

 of an Ethereum Spot exchange-traded fund (

) by the SEC has continued to stir anticipation in the crypto community. The 

 on January 10, 2024 has raised hopes for similar products linked to 

. However, recent delays in the SEC's decision-making process have introduced uncertainty, with major players like 

This article analyzes the potential outcomes of the SEC's decision on Ethereum Spot ETFs, as well as its impact on Ether's price. Learn winning trading strategies on Bybit, depending upon your view of post-approval trends.

An Ethereum Spot ETF is an investment vehicle that tracks the price of 

. It allows investors to gain exposure to Ethereum without directly owning or storing the cryptocurrency themselves. Investors buy shares in these funds rather than purchasing Ether directly from cryptocurrency exchanges. Unlike 

, which derive value from futures contracts, Ethereum Spot ETFs are hedged by Spot ETH tokens. As a result, the ETFs can mirror Ether’s real-time market price.

Why Is Everyone Excited About Pending SEC Approval of Ethereum Spot ETFs?

The excitement surrounding the pending SEC approval of Ethereum Spot ETFs stems from the potential for this investment vehicle to provide easier access to Ethereum's price movements for both retail and institutional investors. Anticipation was initially high after the SEC approved Bitcoin Spot ETFs on January 10, 2024, leading many to believe that similar products backed by Ethereum would follow suit. However, recent delays in the SEC's decision-making process have added to the suspense and speculation around the approval of Ethereum Spot ETFs.

Investors are particularly eager because SEC approval of Ethereum Spot ETFs would provide a regulated way to gain exposure to Ether. Spot ETF approval could open up new avenues to investment for both institutional and retail investors.

Despite initial optimism, recent news indicates that the SEC has been delaying decisions on 

 from major players like BlackRock, Fidelity, VanEck, Franklin Templeton and Grayscale. These delays and uncertainties in the SEC's decision-making process have dampened expectations, raising fears that the SEC may not approve these ETFs as quickly as initially hoped.

Post–Ethereum Spot ETF Approval Price Prediction: Three Potential Outcomes

The recent surge in Ethereum's price, as it briefly crossed the $4,000 mark in March 2024, has been fueled by a mix of factors, 

 surrounding the possible approval of an Ethereum Spot ETF. This bullish trend has sparked optimism within the crypto community, with experts foreseeing further price surges if the Spot ETF applications get the green light. Against this backdrop, all eyes are on the SEC’s upcoming decision, slated for May 2024, regarding the approval of Ethereum ETF applications from issuers like Fidelity, ARK 21Shares and Hashdex. 

As the anticipation mounts, traders may want to consider potential outcomes, which could fluctuate based on market expectations, regulatory clarity and general sentiment. 

Here are three potential scenarios that could unfold following the approval of an Ethereum Spot ETF, and how you can navigate each one in your favor.

Bullish Post–Ethereum Spot ETF Approval Price Prediction

For several reasons, approval of an Ethereum Spot ETF could fuel bullish market sentiment. First, it would offer a regulated and straightforward path for retail and institutional investors to tap into Ethereum's potential without dealing directly with cryptocurrency complexities. This newfound accessibility could trigger a surge in demand, potentially driving up Ethereum's price. Also, the approval itself could serve as validation for Ethereum's legitimacy and its potential for wider adoption, instilling further confidence among investors.

Optimal ETH Option Strategy: Bull Call Spread

If you're bullish on Ethereum, a bull call spread could be an optimal strategy. Here's how it works: You purchase a 

. Simultaneously, you sell a call option, at a higher strike price, that's out-of-the-money (OTM). Both 

This strategy allows for profit if Ethereum's price rises beyond the cost of the call spread, while limiting your potential loss to the net premium paid. It can be a cost-effective way to benefit from bullish movements with a known maximum risk.

To execute a bull call spread strategy on Bybit, purchase a near at-the-money ETH call at a strike price of (for this example) $3,200, expiring at the end of June. Next, sell an out-of-the-money call option with a higher strike price, such as $3,800. Ensure both options have the same expiration date. The net 

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,200 lower strike call and sell a $3,800 higher strike call that costs $200, here’s an analysis of potential profitability. 

:(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Lower Strike Price + Net Premium Paid = $3,200 + $200 = $3,400

Bearish Post–Ethereum Spot ETF Approval Price Prediction

Several factors could contribute to negative market sentiment post–Spot ETF approval. For instance, approval could lead to selling pressure, as investors who’ve been waiting for the news sell their holdings. This increased supply could outpace demand, driving down the price of Ether. In addition, approval could signal a saturation point in the market, leading investors to take profits and exit their positions. 

The SEC has been investigating Ether to determine whether to classify it as a security because of its transition to a 

 consensus mechanism, which has implications for more stringent regulation. If an ETF approval is accompanied by negative news regarding security classification or other concerns, it could dampen investor sentiment and contribute to a bearish market outlook for Ethereum.

Optimal ETH Option Strategy: Bear Put Spread

The optimal ETH option strategy on Bybit for a bearish outlook could be a 

 at a higher strike price and simultaneously selling a put option at a lower strike price, both with the same expiration date. A bear put spread allows investors to profit from a potential decrease in Ether's price, while limiting their downside risk. 

This strategy is cheaper than buying a put option by itself and benefits from the price of ETH falling, in addition to the time decay of the short put option.

To execute a bear put spread strategy on Bybit, buy an ATM or OTM put option strike price, such as $3,000, and simultaneously sell a put option with a lower strike price, for example, $2,500. Both options should have the same expiration date. The net delta is around 0.2.

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,000 higher strike put and sell a $2,500 lower strike put that costs $250, here’s your potential profitability:

(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Higher Strike Price − Net Premium Paid = $3,000 − $2,500 = $500

Neutral Post–Ethereum Spot ETF Approval Price Prediction

In a scenario where the price of Ethereum post–Ethereum Spot ETF approval is neutral, the market sentiment could be balanced, for various reasons. The approval of Ethereum Spot ETFs might be expected by the market, leading to a lack of significant price movement. Additionally, investors might adopt a wait-and-see approach to assess the actual impact of the approval on Ethereum's price, resulting in a temporary equilibrium between buying and selling pressure.

Optimal ETH Option Strategy: Cash-and-Carry Arbitrage Trade

A strategy you can use on Bybit when your position is neutral is that of cash-and-carry 

. The anticipation of Ethereum Spot ETF approval could prompt Futures contracts to trade higher than Spot. To execute a market-neutral trade, traders sell their ETH Futures against buying Spot. 

To execute this ETH trade on Bybit, buy ETH for $3,150 (for example) to establish your long Spot position. Then, sell an equivalent number of ETH June Futures for $3,156. You may then profit from the $6 difference between Futures and Spot.

What if the SEC Doesn’t Approve Ethereum Spot ETFs?

The crypto market is a complex ecosystem, and regulatory decisions are just one of many influences on market dynamics. SEC denial of Ethereum Spot ETFs may lead to a temporary setback for both Ether's price and 

. Investors anticipating the approval may react by selling off their positions, causing a short-term decline in Ethereum's price. 

While some experts believe that the market has already priced in the possibility of Ethereum Spot ETF rejection, many still believe a refusal could cause a short-term dip in prices. The absence of an Ethereum Spot ETF could limit the accessibility of Ethereum to traditional investors, potentially slowing down the influx of institutional capital into the cryptocurrency market.

SEC rejection of an Ethereum Spot ETF could signal regulatory uncertainty and hesitation toward cryptocurrencies, affecting not only Ether but also other digital assets. Such lack of approval could affect investor confidence in the crypto market as a whole, leading to a period of volatility and cautious trading.

Overall, the failure to approve an Ethereum Spot ETF could result in a short-term price drop for Ether, increased market uncertainty and a potential slowdown in institutional adoption of cryptocurrencies.

As the excitement builds around the potential approval of an Ethereum Spot ETF, investors are exploring ways to maximize their exposure to Ethereum. 

 presents an attractive investment opportunity for those interested in staking ETH and earning yields. 

 ETH through Bybit Savings allows investors to earn a yield on their holdings, providing a steady source of passive income. It offers both flexible and fixed-term products, granting investors the flexibility to select the staking option that aligns with their investment strategies. 

Bybit Savings ensures competitive and guaranteed 

s, delivering attractive returns on staked ETH. These features make Bybit Savings a popular choice for investors seeking to seize potential market opportunities post–ETF Spot approval and maximize their returns while staking Ethereum.

Here’s how you can get started staking ETH and earning yield with Bybit Savings:

With the SEC's decision on Ethereum Spot ETFs approaching, traders and investors are preparing for potential market volatility and price movements. Whether the ETFs get approved or not, strategies are available to navigate different market scenarios effectively. From bullish to bearish or neutral outlooks, several strategies can take advantage of market movements after either SEC ETF approval or rejection.

Additionally, exploring opportunities such as staking ETH through Bybit Savings can provide alternative avenues for maximizing returns in the dynamic crypto market. 

Ready to trade Ethereum and seize potential opportunities post–ETF approval? 

 today to explore a range of trading options and investment opportunities.

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Ethereum Price Prediction: How to Trade ETH After SEC Approval of Spot ETFs

Crypto Investment Guide

Investing

Trading

Crypto investment can be risky. Diversification is key to a successful crypto portfolio. Here's how you can manage them responsibly and grow your portfolio sustainably.

Managing-Crypto-portfolio.jpg

Many new crypto traders focus on buying just one coin. However, their crypto performance is relegated to the sentiment, development, and community behind that one project.

Building a balanced crypto portfolio can help guard against excessive losses since some projects will outperform others. Over the next few minutes, we will discuss what a cryptocurrency portfolio is, the benefits of a crypto portfolio, and tools to help you manage one.

A cryptocurrency portfolio is a basket of digital assets consisting of cryptocurrencies. Crypto investors aim to improve their risk-adjusted returns by mixing and diversifying their cryptocurrency and token investments.

 means buying and holding Bitcoin. Did you know there are over 10,000 cryptocurrencies available? It is not feasible to buy all 10,000 for your portfolio, nor do you want to. The top five largest valued cryptocurrencies make up 76% of all cryptocurrency value.

The vast number of cryptocurrencies available speaks to the future potential of crypto. Therefore, including crypto as a portion of your overall investment portfolio makes sense. 

Before we dig into methods to build your crypto portfolio, let’s tackle some benefits a crypto portfolio may deliver.

The Purpose of Having a Balanced Portfolio

Most beginning crypto investors believe buying crypto simply means holding 

 in hopes its value moves up to $1 million per coin. Buying Bitcoin is a place to start. However, you can’t run until you first learn how to walk.

As we have seen in 2021, there are times when investors favor Bitcoin and other times that Bitcoin falls out of favor. Early in 2021, Bitcoin was accelerating higher in price behind speculation of its institutional adoption into corporate balance sheets. That favorable outlook was quickly reversed a couple of months later when debates about Bitcoin’s electricity usage and resultant carbon footprint began to swell.

An investor whose portfolio consists of just Bitcoin will experience volatile market swings. 

The first benefit of a balanced portfolio is diversity. Holding onto just one coin leaves you susceptible to the ups and downs of news that solely impacts that coin. 

Another example of this dynamic is Ripple. Recently, U.S. governmental bodies were focused on whether Ripple was initially 

. Ripple sold off on the news. Cryptocurrencies are largely unregulated, and the laws around them are still being created. Therefore, investment in just one coin pins the returns of your crypto investment to the performance of that one coin.

A secondary benefit of a balanced crypto portfolio is that when you spread your investments out, you have a better shot at picking a coin that outperforms. Indeed, the reason more than 10,000 cryptocurrencies exist is that each one is trying to improve on some real-world problem with cryptocurrency. 

Bitcoin is the largest and oldest cryptocurrency and has stood the test of time. However, we don’t know if someday there will be another coin worth more than Bitcoin if that newer coin improves on a certain fundamental quality. As you research cryptocurrencies, look for those projects that have the potential to solve real-world problems. For example, 

 solution to the oracles problem could be a potential alternative that will take off one day.

Lastly, having a diversified portfolio allows you to rebalance your portfolio so it doesn’t become overweight in certain coins.

For example, let’s assume you’ve invested in three coins: coin A, coin B and coin C.

You decide to allocate 50% to coin A, 25% to coin B, and 25% to coin C. You further decide to allow the percentages to deviate by 10%. Coin A rockets higher and, as a result, is now 60% of your crypto portfolio. Therefore, you decide to sell off a portion of coin A and buy coins B and C to rebalance back to the 50-25-25 split. This way, you are using the gains from your outperforming crypto to fund the rest of your portfolio. 

Having a balanced crypto portfolio means you’re halfway to creating a sustainable portfolio. Investing in digital assets is relatively new, with a lot of intimidating terminologies.

Take the time to learn and analyze them fundamentally before diving headfirst into the water. If you are ready to build, here are five foundational pillars to help you strive toward that balance and to manage your crypto portfolio. 

Many investors might not have a large lump sum that they can transfer from traditional investments into a crypto portfolio. Therefore, making regular small investments from your income cash flow, regardless of crypto prices, is a great way to build up your portfolio. As a result, dollar-cost averaging is one of the best trading strategies to build your portfolio that works in both up and down markets.

 (DCA) is an automatic system of making fixed dollar amount investments, regardless of a token’s price. By entering the investment in regular increments, you are smoothing out the anxiety resulting from imperfect timing. If the price of the cryptocurrency moves higher, you can add more shares in a strong bull market. If the price of the cryptocurrency moves lower, you will be able to add even more shares as your investment amount in fiat terms remains fixed.

One of the biggest advantages of the crypto economy is the decentralized nature of many coins. As you build your portfolio, you may have to deal with several different wallets, exchanges, and platforms, allowing you to take advantage of promotions. As a result, it can be cumbersome to manage your crypto portfolio across these wallets and trying to remember which cryptocurrency is where.

Crypto portfolio trackers are a way to solve this problem. A crypto portfolio tracker is a software that reads your wallets’ data and displays the aggregate information into a dashboard for you. Portfolio trackers make it easy for you to keep up with how much you have invested in each cryptocurrency. If one cryptocurrency is outperforming another, you’ll see it gaining a larger percentage of your overall portfolio.

Also, most portfolio trackers allow you to trade across many crypto exchanges, including Bybit, from their service. These trackers provide an additional convenience in that you do not have to log into each exchange account to make your trades. However, that convenience typically comes with a fee.

Another important benefit that crypto portfolio trackers provide is in tax planning and preparation. For example, in the United States, cryptocurrency holdings are treated as property. Therefore, a taxable event is triggered on the sale of crypto. A cost basis for the crypto holding is needed to accurately assess the tax implication. Even situations such as interest gained from staking alter the coin’s cost basis. As a result, an active crypto trader will generate a lot of transactions that need analyzing for tax purposes. A crypto portfolio tracker can help organize these transactions for record-keeping.

Crypto portfolio trackers come with a variety of features, but choosing one doesn’t have to be difficult. 

 Determine what convenience the tracker provides and what problems it will solve for you. Don’t forget about the time spent organizing your trades for determining your tax liability.

 Look into the app’s safety and security. Many crypto portfolio trackers link to crypto exchanges, and it is crucial to protect your coins.

 Practice makes perfect. Many trackers offer free trials so you can play around with them for a while.

 Look for a simple, clean, and clear layout. You don’t want to spend a lot of time trying to figure out how to use your portfolio tracker. An intuitive design will help make it easier for you to manage your crypto portfolio.

Now that you know what to look for, here are several portfolio trackers that may be of interest to you.

Crypto prices can be extremely volatile, with wild swings to both the upside and downside. Additionally, blockchain technology — which cryptocurrency fuels — is a relatively new technology and truly exciting. However, don’t let all of the hype put your emotions into overdrive.

How to Manage a Crypto Portfolio Successfully (5 Easy Ways)

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards