Distributed ledger technology, also known as blockchain, transforms financial markets in many ways. Although enthusiasts have realized this for several years, it has finally been recognized by the regular financial authorities.
“The recent use of distributed ledger technology, which offers a new approach to registering asset ownership, has allowed a number of new financial products and services this year, including cryptocurrencies,” Federal Reserve Chairman Jerome Powell said earlier. speech.
Cryptocurrencies are not only a safe and efficient way to send money, but also non-perishable tokens (NFTs) are changing the way we think about ownership, from unique digital collectibles to potential physical real estate.
Not even control
However, the decentralized nature of cryptocurrencies and the ability to issue them to anyone make standardized monitoring difficult. This is further exacerbated by various aspects of decentralized finance (DeFi) such as decentralized exchanges (DEX) or decentralized autonomous organizations (DAO).
In fact, in this age of more sophisticated cybercrime, security protocols such as two-factor authentication have become the norm, making it difficult to track traditional financial assets across platforms.
Many cryptocurrency investors are forced to manage their digital assets separately from their 401k, Homes and other investments. Some even pack the tools or tables together to try to manually view all their resources in one place. Ideally, investors should consider cryptocurrency as part of their portfolio and manage it together in a single system and from a single interface. Now there is a new platform that can combine all these assets in a single portfolio, giving investors a single starting point.
With Kubera, a cryptocurrency portfolio management platform, investors can track their portfolio by connecting to their online brokerage accounts. However, even if a specific broker is not supported, users can also add the stock symbol to their assets to keep track of their recent values. Kubera supports all major stock exchanges in the United States, Canada, the United Kingdom, Europe, Asia, Australia and New Zealand.
In addition to traditional assets such as stocks, Kubera users can also track cryptocurrencies, including coins held in DeFi. Kubera users can get the latest balances from all major cryptocurrency wallets and exchange accounts, or simply add coins to track their value. Kubera supports DeFi assets across multiple chains such as Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC).
More information about KUBERA here
Kubera also uses industry-leading account aggregation technology to provide users with a reliable connection to thousands of online banks around the world, which also allows them to track funds directly on their bank accounts. Kubera can connect to over 20,000 banks worldwide.
Aiming to be the only source where users can fully track their assets, it even lets them track the value of their cars, trucks and vehicles through EstiBot, and even the value of their homes with the latest market data from Zillow. By additionally including precious metals through spot prices on gold, silver, platinum and palladium, as well as the estimated market value of web domains, Kubera users can actually calculate their net worth in their local currency.
In addition to being able to track all of these resources, Kubera also includes features that improve usability. For manually maintained assets, Kubera has a built-in workflow to remind users to update asset values. Users can also analyze graphs to see how their net worth has grown over time to see the most undervalued investments. They can also share a read-only link to their investment portfolio with investment advisers, CPAs and property planners when applying for loans or with their families. For older investors or those who pass the test unexpectedly, Kubera has a “Life Beat Check” mechanism that can detect longer periods of account inactivity and send users’ wallets to recipients.
Kubera is now tracking over $ 8 billion in assets since its launch last year. Next year, developers plan to improve connectivity and introduce multithreading support. Some of the other planned updates include more accurate P&L calculation, IRR determination, forecasting and planning, and NFT estimation.