The financial domain is expanding rapidly with the emergence of new technology. Not only in the areas of Financial Technology (FinTech) that focuses on transactions and payment technology, but also across asset classes. We see a rise in the creation of new cryptocurrencies as well as new types of IPOs through the use of a Special Purpose Acquisition Company (SPAC). To be able to invest and keep track of all these technologies, a tracker like Delta can help. In this article, we will dive into the functionality of a tracker.
Navigating de-fi through a crypto tracker
A good way to keep track of your holdings is through the use of a crypto tracker. This is an application that allows you to combine all your holdings into a single overview. Although this seems like an obvious thing that is not too complex, there are many variables to take into account.
Consensus mechanisms of cryptocurrencies
Blockchain technology started to emerge with the advent of a Proof of Work consensus mechanism. This revolved around solving a very complex cryptographical problem to validate transactions. The first user that validates the transactions is allowed to append them to the blockchain and receive coins in return. Hereby users are incentivized to adhere to the interest of the network. Soon other types of mechanisms were developed such as the Proof of Stake that is being used by Ethereum, among others.
The yield on your holdings
When it comes to staking, you simply hold your assets inside your wallet. Based on the holdings, you have a probability to validate transactions. In return, similar to Proof of Work, you also receive coins. Therefore, it is important to keep your holdings inside your wallet and continue to receive yield. This can be realized by a crypto tracker, which simply collects all publicly available information through the use of the Public Key.
In a market that is on full speed 24/7, it is important to be up-to-date. A tracker provides real-time updates on crypto and stock prices as well as market news. You can configure notifications based on holdings, assets you are interested in, and price fluctuations relevant to you. Investing in broad index funds or interested in the market as a whole? It is possible to receive notifications for these types of situations also.
How am I doing as a trader?
Many people have entered the crypto space as a trader. One of the important questions to ask yourself is: am I doing well with my trades? This can be analyzed in the tracker, and you see feedback on how it played out. Hereby you can improve your skills as a trader and increase your gains.
Delta is a good example of integrating the financial worlds
Delta is an application that offers the functionalities described in this article. Next to retrieving information from wallets, you can integrate with broker accounts through API. This allows you to have a combined real-time view of both stocks and cryptos. Integrating with brokers is safe and secure, as an API is defined by the broker and can only send a specific set of information based on predefined parameters.