In one of previous posts, we told you about the coins and live exchange rates in Plutus Wallet. These two elements are a big part of the main mechanics of the app — building your ideal crypto portfolio!
Building Your Crypto Portfolio in Plutus Wallet
To start building your portfolio, create a Pie and add cryptocurrencies to it. Let us clarify the difference between a Pie and a Portfolio first — a Pie is a collection of up to five cryptocurrencies of your choice. These cryptocurrencies we call Coins. All your Pies combined forms your Portfolio.
Sounds like a piece of cake, right?:).
You can create and manage up to 10 Pies, as well as delete them instantly. Moreover, the composition of each Pie can be modified as well, by removing and adding other cryptocurrency coins at any time.
Obviously, every Pie needs a name. For now, this is done manually by the user. But soon, you will be able to generate a unique name with the help of the Pie name generator.
There are two types of Pies you can create:
Demo Pie (i.e. portfolio simulator) or Real Pie (i.e. real portfolio investments).
The Demo Pie allows you to experiment with your crypto investment strategies and improve your trading skills, as it includes only virtual cryptocurrency coins. You even get virtual money to start with.
Managing Real Cryptocurrency Portfolio
In the latest update we’ve included the new Real Pie option. This allows you to connect Plutus Wallet to your HitBTC account and begin to manage a Real Pie with real cryptocurrency coins. To create a Real Pie, add a new Pie to your crypto portfolio and choose the “Real Pie” option.
How it works: If you have already have a HitBTC account, use the Public and Secret keys from Settings>API keys to connect Plutus Wallet to the HitBTC exchange. If you don’t have a HitBTC account, follow the link, create an account, get your keys and connect them to the app.
Impotant: For it to work correctly, you need to approve the following API key access rights in your HitBTC account settings: Order book, History, Trading balance and Place/cancel orders. Without this approval, the connection with HitBTC will not work.
An essential function, after you have created a Pie, is Allocation.
Every Pie has five empty slots to which you can assign up to five different cryptocurrency Coins. These newly added Coins will be automatically allocated in even parts. You can change the allocation manually, separately for each Coin. If the restrictions of the exchange platform do not allow the specified distribution, Plutus Wallet will apply the closest allocation available.
We have explained the most aspects of how to successfully build your crypto Portfolio. One thing we haven’t touched on yet is Rebalance. This will be the central theme of our next post.
Download the best cryptocurrency portfolio app for Android —Plutus Wallet