To track my BTC trading experiment, I decided to try Portfolio Performance which is a free tool I already use for tracking other kind of investments.
Portfolio Performance is a software that was designed for tracking traditional investment portfolios with stocks, bonds, ETFs and things like that. I find it is excellent for tracking crypto portfolios as well.
You can download the software from its official page here: https://www.portfolio-performance.info/en/ and install it.
How to set up a crypto portfolio in Portfolio Performance
From the Welcome screen, click on Create a new file and set the Currency in which you want to see the values in the software (EUR in my case). Specific investments can be tracked later in different currencies, this is just the main currency that the software will use for generating reports.
Click Next and now we need to create a new pair of accounts. For this example, I named my Securities Account: Trading Experiment and my Reference Account: Coinbase.
By clicking the Add button these accounts will be created .
That’s all we need for now so let’s click on Finish. We should land in an empty Statement of Assets page.
Now let’s save our portfolio, select File > Save from the main menu, give this file a name and save it.
Next I want to record the first deposit that I made to Coinbase back in May 2020 before I started the trading experiment. To do this, I go to Deposit Accounts, find Coinbase, right click > Deposit and enter the details of this deposit
After saving this deposit, the Balance of the Coinbase Deposit Account is now 100 and in Reports > Statement of Assets I can see this amount which is 100% of my portfolio so far.
Adding crypto instruments
The next step would be to add Bitcoin to Portfolio Performance so that I record an action in the software, every time I buy or sell Bitcoin in my Coinbase account. To do this, select Securities, click on the little plus sign on the upper right side of the screen, and select Search for instrument. The software can search for stocks in yahoo.finance and automatically update their daily values. For cryptocurrencies it uses coinmarketcap to get the prices.
Be sure to give the crypto pair in the correct form like BTC-EUR in my case, or BTC-USD if you want to fetch the US dollar prices and click Search. You should get a result with Type: CRYPTOCURRENCY from the Exchange: CCC and this is the feed we want.
Press Apply and OK to the next confirmation window.
Now that I have Bitcoin in All Securities, I can record a transaction for the first time I bought it in Coinbase. I bought 20 EUR worth of BTC on 2020-06-01, so in order to get the fees and exact BTC amount, I looked in pro.coinbase history for the filled order:
Next I select the Bitcoin instrument and Right click > Buy to enter all the information for this trade
And there you have it, I am the proud owner of 20 euros worth of Bitcoin!
Let’s take another look in Report > Statement of Assets.
I can now see that I have 0.002 Bitcoin, that with today’s price (while writing this) of BTC-EUR at 9949.76 it is worth 23.40 EUR. That is 22.69% of my total portfolio value, the other 77.31% remains in my Coinbase account.
In Reports > Statement of Assets > Chart I can see on a chart how the value of my portfolio evolved in the last year
And in Reports > Statement of Assets > Holdings I can also see exactly what I hold in my portfolio in percentages. By hovering the mouse over each piece of this donut, the corresponding values appear.
The next interesting thing to look at for some metrics, is in Reports > Performance (the heart and soul of Portfolio Performance if you ask me..)
Here I have all this interesting information that are calculated automatically. This actually tells me that if I had not sold this 20 EUR worth of Bitcoin in June, it would have gained 3.21€ by now and minus the 0.10 fees, today my portfolio would be worth 103.11€. That is a 3.11% rate of return in 2,5 months. Not bad, not bad at all!
Anyway, now I have to record all the other transactions that I made in my BTC Trading Experiment in the last 2 months (or find a way to import them…).
I have actually tried a lot of tools for monitoring my crypto assets. Something was always missing, maybe there was not enough privacy or they only offered mobile applications and others required too much effort to update. All of that just for getting a graph or a simple report that can I probably make myself in google sheet or something. The only problem I see with Portfolio Performance, is that I can only use 6 decimal places in the quantity field Shares and not 8 that is the normal for cryptocurrencies. But you know what? I can live with that, since the final result is so powerful. I will review the situation again when 1 Shatoshi is worth 0,01€. Who knows, maybe by the time BTC price reaches 1 million, the developers will have added support for more decimals.
What do you use to track your crypto portfolios? I hope that this little walkthrough will introduce some of you to Portfolio Performance. It’s actually a super powerful tool, highly recommended!