How to Set Up Your Portfolio for Biggest Gains on Blockfolio App

In today's fast-paced world, investing in cryptocurrencies can be both exciting and intimidating at the same time. To make the most out of this potentially lucrative market, it is crucial to stay informed about every aspect of your portfolio performance. One effective way to achieve this goal is by using a dedicated app like Blockfolio that offers real-time tracking capabilities along with various features designed specifically for cryptocurrency enthusiasts.

In this article, we will walk you through step-by-step instructions on how to set up your portfolio for biggest gains on the popular blockchains supported by Blockfolio. Whether you're an experienced investor looking to diversify or just starting out in the world of crypto investing, follow along as we explore some essential tips and tricks that can help you maximize returns from your digital assets.

Step 1: Downloading & Installing Blockfolio App

Before diving into setting up your portfolio on Blockfolio app, it's necessary first things come first – download and install the software onto either Android or iOS devices. Simply search for 'Blockfolio' within respective stores (Google Play Store / Apple App Store), click 'Download' after finding result labeled as 'Blockfolio - Cryptocurrency Prices', then follow through with installation prompts until app icon appears on home screen.

Step 2: Setting Up Your Portfolio

Once you've successfully downloaded and installed the Blockfolio app, it's time to set up your portfolio. Open the app and tap 'Portfolio' at the bottom of the main menu bar (represented by an outlined coin symbol). You will be presented with two options:

a) Create New Portfolio

- Tap on this option if you haven't created a new portfolio yet.

- Enter a name for your portfolio, such as 'Crypto Investments.'

- Select whether to track cryptocurrency holdings or fiat currencies.

b) Add Existing Wallets

If you already have existing wallets set up elsewhere (e.g., exchanges like Binance), tap on 'Add Wallet' and follow the prompts provided by Blockfolio to link them directly into your profile. This will allow for seamless tracking across multiple platforms from one centralized location within app.

Step 3: Configuring Notifications & Alerts

To stay ahead of market fluctuations, it's essential to configure notifications and alerts within your portfolio settings so that you're notified whenever specific conditions are met (e.g., price targets reached or sudden changes in asset values). To do this:

1. Tap the three dots icon located at top right corner of main screen.

2. Scroll down until 'Notifications & Alerts' option appears; tap on it.

Here, you can customize various notification options such as:

- Price change alerts (e.g., 5%, 10%)

- Email/SMS notifications

- Pushover integration

Step 4: Optimizing Portfolio Performance

Now that your portfolio is set up and configured to track the performance of your chosen cryptocurrencies, it's time to focus on optimizing its overall efficiency. Here are some additional tips & tricks you can implement:

1) Diversify Your Holdings

Spread your investments across a range of assets rather than putting all eggs in one basket (e.g., 50% Bitcoin / Ethereum + 25% Altcoins). This will help spread out risk while potentially increasing long-term returns.

2) Set Stop Losses & Take Profits

Implementing stop-loss orders can protect you from significant losses if the market suddenly reverses direction. Conversely, setting profit targets allows you to lock in gains when prices reach desired levels – don't let emotions cloud your judgment!

3) Regularly Review And Rebalance Your Portfolio

Regular portfolio reviews are essential for ensuring that it remains aligned with your investment goals and risk tolerance. Use this opportunity to rebalance holdings as needed by either selling profitable assets or reinvesting proceeds into undervalued positions.

By following these simple yet effective steps outlined above, you'll be well on your way to maximizing returns from your cryptocurrency portfolio using the powerful features offered by Blockfolio app. Remember always to do your own research before making any investment decisions and never invest more than what you can afford to lose – happy trading!

Set biggest gains on blockfolio app