Introducing NDAX Portfolio: making your crypto investment tracking seamless
You asked and we’ve delivered! As the fastest bridge between Canadians and cryptocurrencies, and to further our mission of making crypto trading as convenient and rewarding as possible, we’ve beta launched “Portfolio” onto our trading platform.
Starting today, all NDAX customers will be able to access their crypto portfolios to easily view, track and manage their digital asset investments, all from one convenient dashboard.
Designed to provide best-in-class trading tools and services to Canadians, NDAX currently supports over a dozen digital currency pairs and provides easy deposits and withdrawals in CAD. Now from the dashboard, all NDAX traders will be able to gain better insights on their portfolio performance, measure results over time, and easily buy and sell all coins available to trade.
What is Portfolio on NDAX?
In the world of traditional assets, trading platforms with in-built portfolios are commonplace. The same is hard to find for cryptocurrencies. NDAX is launching its Portfolio tool so cryptocurrency traders at any level can keep track of their trading and investment activities from a single portal.
The Portfolio is an integrated section on NDAX itself through the user dashboard. NDAX customers will no longer have to connect third-party applications to keep track of their trading activities.
From a single crypto Portfolio dashboard on NDAX, cryptocurrency traders can view their daily, monthly, or yearly trading reports and do much more. Let’s take a look at the different sections and features under Portfolio.
As is obvious by its name, the portfolio overview will provide an overview of a user’s trading activity. You will be able to view your total portfolio balance in Canadian dollars. Along with that, it will also show the total amount you have invested in each of the cryptocurrencies as well as total profit and portfolio growth.
You can adjust the time frame to have an overview of the total amount you have invested in that period, from the last 24 hours to the past six months. The overview section will also highlight your portfolio age and the amount you have withdrawn within the selected time frame.
It will save you the hassle of calculating the total amount you invested, lost, or earned while trading on NDAX. From the portfolio overview, you can easily view the total profit and loss you booked while trading digital currencies on NDAX since you started trading.
Portfolio distribution will provide a visual representation of the funds you have invested in all cryptocurrencies and how they have performed over time. The portfolio distribution will be organized under three main categories:
This will display the total funds and the aggregated performance of all your cryptocurrency investments over a specified time.
You can select BTC to view and track the individual performance of your BTC holdings and the total amount you have invested in it.
Most other digital currencies apart from Bitcoin fall under the altcoin category, and includes ETH, ADA, and several others. You can view and track the performance of your altcoin investments on NDAX and view the overall amount you invested in them.
If you’d like a view into your stablecoins, cryptocurrencies where the price is designed to be pegged to an underlying currency, such as the US dollar, you can view just this activity, such as from Tether, from here.
Your NDAX Portfolio also works as a full-fledged cryptocurrency tracker that displays your total invested amount at any time in each coin listed on our platform. It displays your total balance, your average purchase price, the current market price, and the percentage appreciation or depreciation in your specific crypto investment.
Recurring Purchase enables traders to make regular investments into any cryptocurrency listed on NDAX. Many traders who are new to the cryptocurrency market are often unaware of trading strategies and may also not have a lot of capital available for a larger one-time investment.
With Recurring Purchase, as is common in stock and mutual funds, a trader can specify any amount of their choice and the period of investment to invest periodically. For example, if a trader chooses to invest CA$20 every week in BTC, our trading platform will automatically buy CA$20 worth of BTC on behalf of the trader, and add it to their wallet on the same day of every week.
Recurring purchase, also known as dollar-cost averaging, has a wide range of benefits. You can grow your portfolio over a long period of time by investing any amount you can afford to. This means that you do not need a huge sum to make an investment or take a big risk all at once.
Dollar-cost averaging, AKA recurring purchases, can be easily set up by clicking the “DCA” button beside every cryptocurrency listed in the portfolio distribution tracker list.
Quick Trade functionality is the fastest way to add more cryptocurrencies to your wallet. Beside every cryptocurrency, you can find a “Trade” button right next to the “DCA” button. In just a few clicks, you can easily add an additional amount to your cryptocurrency investment, or make a sell.
Coming soon to your Portfolio
The cryptocurrency market moves faster than any other market. As such, crypto traders need to stay on the edge of every market movement to make sure they don’t miss out on big price movements.
NDAX Alerts notifies our traders when big price movements happen and allows them to make quick investment decisions. Traders can set customized alerts to get notified each time a specified event is triggered and invest while the bulls are still riding the market.
Last but not the least, your Portfolio will soon have a News section to quickly keep up to date on the latest Bitcoin, blockchain, DeFi, and wider crypto market news and events.
In fact, we’re working on a few different ways to help educate Canadians on all things crypto, providing regular market analysis, and sharing more stories on what’s trending in crypto around the globe. Stay tuned for more.
NDAX for the smoothest crypto trading experience
NDAX is on a mission to make cryptocurrency trading and investing easy for all Canadians. In the last couple of years, our trading platform has launched several premium features that together deliver a seamless trading experience. The addition of our Portfolio feature is yet another achievement for our platform and makes crypto trading and tracking even easier for Canadians.
NDAX is a regulated Canadian cryptocurrency exchange launched in 2018. Since launch, we’ve delivered the most advanced and secure cryptocurrency trading platform in Canada. Our crypto trading platform and account services continue to evolve as they help individuals and institutions from coast to coast access the world’s leading cryptocurrencies and embrace the future of digital finance.