I’m pretty new to the bitcoin revolution and have been trying to do my research. Advice online strongly recommended a hard wallet and after reading a few reviews I opted for a Ledger Nano S. With relative ease I moved my initial bitcoin purchase from Coinbase onto the Ledger – great, all good so far…..
However, now that the bitcoin is on the Ledger, obviously my Coinbase account shows as zero and therefore I have no visibility of how much my bitcoin investment is worth at current price. How do you get a quick overview of the value of any bitcoin stored on a hard wallet?
Well, the answer is just to remember how much BTC you have on your hardware wallet and then multiply it by the current exchange rate. For example, if you have 0.25 BTC on your Nano and the price is $11,648 then in USD terms you have 0.25 * 11648 = $2912. If you’re not working with USD, then get the price from whichever local exchange you use.
Note that some sites will just multiply the USD rate by the Forex rate to get the price in more exotic currencies – this can lead to pretty major errors as often the real exchange BTC price differs considerably in certain countries.
You do get apps which will do these calculations automatically for you, across an entire portfolio of crypto coins too. I am a bit hesistant about recommending such apps, as it’s possible they’re communicating your crypto net worth to other parties, but some people use them for convenience. One that’s popular is called Blockfolio, although I can’t vouch for how well it keeps your balance a secret. You could also build a spreadsheet which auto-calculates this stuff. That might be a bit more private depending on your operating system and whether you use a dedicated spreadsheet or an online thing like Google sheets.
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