Are Crypto Portfolio Trackers Safe?
If you are taking advantage of a Crypto Portfolio Tracker you might be wondering if it is safe to use it ?
Short answer: Yes — if used correctly.
Long answer: There are important security considerations you need to know before connecting your crypto accounts to a tracker.
What Is a Crypto Portfolio Tracker?
A crypto portfolio tracker is a tool that helps you monitor and manage your cryptocurrency holdings. Popular options include Delta, Cointracking, and CoinStats, which allow you to:
Aggregate balances from multiple wallets and exchanges in one place
Track all your coins in real time
Convert balances to your preferred fiat currency (USD, EUR, etc.)
To do this, Crypto Portfolio Trackers connect to your exchange accounts using API credentials.
Understanding API Permissions
API (Application Programming Interface) allows apps to communicate with your exchange accounts, such as Binance API docs or Coinbase API docs.
When creating an API key, you can grant three types of permissions:
| Permission | What it does | Security risk |
|---|---|---|
| Read | View balances and transactions | Low – only data access |
| Trade | Place buy/sell orders | Medium – someone could manipulate positions |
| Withdraw | Move funds out of your account | High – funds could be stolen |
Tip: read crypto excel api connection to know more about security
Pro Tip: Only Enable Read permissions for maximum safety.
Cloud vs. Local Crypto Trackers
The following table will show you some of the main differences for cloud and local Crypto Portfolio Tracker.
| Feature | Cloud Trackers (Delta, CoinStats) | Local Trackers (CryptoExcel) |
|---|---|---|
| Data storage | Stored on external servers | Stored on your own computer |
| API key handling | Often uploaded to cloud | Never leaves your PC |
| Security risk | Vulnerable if server is hacked | Safer, less exposure |
| Access convenience | Accessible from any device | Limited to your PC, but secure |
| Advanced features | Portfolio visualization, alerts | Full Excel analysis, tax calculation, automation |
Key takeaway: Cloud trackers are convenient and mobile-friendly, but
local trackers like CryptoExcel provide maximum privacy and control.
Extra Security with CryptoExcel
CryptoExcel is a Python-based Excel add-in that connects to 100+ exchanges via CCXT.
API credentials stay on your PC — never uploaded to external servers
Run your tracker directly in Excel
Professional tools for analysis, tax calculation, and portfolio management
With CryptoExcel you combine the benefits of a tracker with full control over your data and security.
Best Practices for Safe Crypto Tracking
Use read-only API keys
Avoid enabling Trade or Withdraw permissions
Consider local trackers for sensitive accounts
Enable two-factor authentication (2FA) on exchanges
Keep your software up to date and avoid suspicious links
Bottom Line
Crypto portfolio trackers can be safe, but security depends on permissions, platform type, and how you store API credentials. For maximum privacy and control, local trackers like CryptoExcel are the safest choice.