In the ever-evolving world of cryptocurrency, keeping tabs on your digital assets is more important than ever. Whether you’re new to the game or a seasoned pro, understanding how to track crypto wallets is essential for staying ahead.

With tools like a crypto wallet tracker and BTC wallet tracker, you can easily track crypto wallet addresses and monitor your transactions. Knowing how to track a Bitcoin wallet and trace a Bitcoin wallet address empowers you to manage your investments with confidence. In this ultimate guide, we’ll explore the top strategies for effective crypto wallet monitoring in 2024.

Crypto Wallets on NOWPayments

Initially, NOWPayments is a non-custodial service, and our standard crypto payment gateway allows you to receive funds through our processing system straight to your wallet of choice.

However, the custody feature has been added over time to make the experience perfect. In order to make NOWPayments’ transactions in BTC, you would still need to add the existing wallet to your account.

The partial custody that NOWPayments provides allows you to store the funds within the system for some time before you are ready to withdraw them. This feature minimizes the fees associated with transactions, since it allows you to withdraw the sum once, rather than splurge on many smaller withdrawals.

How to Enable Custody Solution

1. Create a NOWPayments Account or log in to the existing one.
2. Add your crypto wallet and create an API key.
3. Go to Custody section in the left panel.
4. Check the box that says “I have read and accepted Custody Solution user agreement” and click Continue.
5. Whitelist your IP addresses.

You can include your current IP address automatically by checking the box as well as you can add other IP addresses 

Please keep in mind that to change or add IP addresses in the future, you will have to make an official request to [email protected]

6. Check the box that says “I intend to include the aforementioned IP address(es) to whitelist and take all the risks related to it” and click Continue.
7. You will see a message “Your balances are safe but temporarily unavailable.”
8. Refresh the page 5 mins later — you will see the default Custody page message which means Custody is enabled and ready to use.

What Crypto Wallet to Use with NOWPayments?

One of the best things about NOWPayments is that you can add any wallet of your choice to withdraw funds. While there are no restrictions and you are free to choose the wallet you trust the most, there is a list of recommended wallets we suggest you try.

1. Guarda. Secure and convenient iOS and Android crypto wallet to buy, stake, store and exchange cryptocurrencies, tokens, and stablecoins.
2. Atomic Wallet. Decentralized Cryptocurrency wallet that supports more than 1000+ coins and tokens, providing simplicity, safety, and convenience for its users.
3. imToken. Reliable Web3 digital wallet trusted by tens of millions, enabling easy access to 35+ major networks including Bitcoin, Ethereum, and Tron.
4. MetaMask. Popular and established browser extension which functions as a cryptocurrency wallet that connects to the Ethereum blockchain.
5. Infinity Wallet. Comprehensive desktop solution that combines the functionalities of a non-custodial multi-chain wallet and a Web3 browser

Why Track a Crypto Wallet?

For anyone, who makes many transactions in cryptocurrency, tracking a crypto wallet is more than just a technical skill—it’s a necessity in the digital age.

• Security and fraud prevention are top priorities, as knowing how to track a crypto wallet can help you quickly spot unauthorized transactions and protect your assets.
• For those managing multiple currencies, a crypto wallet tracker simplifies portfolio management and monitoring, giving you real-time insights into your investments. 
• Keeping tabs on your wallet is also essential for tax reporting and compliance—accurate records of transactions are crucial come tax season.
• In cases of legal disputes or investigations, being able to trace a Bitcoin wallet address or use a BTC wallet tracker can provide critical evidence. Whether for security, financial management, or legal purposes, mastering how to track crypto wallets is an indispensable skill for every crypto enthusiast.

Tools for Tracking Crypto Wallets

Tracking your crypto wallets has never been easier, thanks to a variety of powerful tools designed to give you full control over your digital assets.

• Block explorers like Blockchain.info and Etherscan are fundamental for anyone looking to track crypto wallet addresses. These tools allow you to delve into the details of every transaction, making it simple to track crypto transactions and verify transfers. For more comprehensive crypto wallet monitoring, apps like CoinTracking and Delta act as your personal crypto wallet trackers, helping you manage and analyze your entire portfolio across multiple exchanges.
• If you’re interested in digging deeper into on-chain data, on-chain analysis tools like Chainalysis and Glassnode are invaluable. These platforms provide insights into market trends, network activity, and even help trace funds across the blockchain.
• Specifically for Bitcoin, using a BTC wallet tracker is essential. Whether you’re looking to trace a Bitcoin wallet address or learn how to track a Bitcoin wallet effectively, these tools offer specialized features tailored to the unique nature of Bitcoin’s blockchain.

By combining these resources, you can not only safeguard your investments but also make informed decisions based on real-time data. Whether you’re a casual investor or a serious trader, mastering these tools is key to staying ahead in the fast-paced world of cryptocurrency.

Step-by-Step Guide: How to Track a Crypto Wallet 

1. Find and Enter the Wallet Address

Start by locating the specific crypto wallet address you want to track. This address will give you access to the wallet’s transaction history and activities.

2. Use Block Explorers to Track Transactions 

Enter the wallet address into a block explorer like Blockchain.info or Etherscan. These tools allow you to view all incoming and outgoing transactions, helping you stay informed about every transfer.

3. Monitor Wallet Balances and Activity 

For ongoing crypto wallet monitoring, use a crypto wallet tracker such as CoinTracking. This tool will help you keep an eye on wallet balances and any recent activity, providing a comprehensive overview.

4. Track Bitcoin Wallets Specifically 

If you’re focusing on Bitcoin, use a dedicated BTC wallet tracker. These tools are designed to trace Bitcoin wallet addresses with precision, ensuring you track all relevant transactions and activities.

Legal and Ethical Considerations

When learning how to track crypto wallets, it’s crucial to consider the legal and ethical implications. Privacy concerns are at the forefront, as tracking a crypto wallet address can reveal sensitive information. While using a crypto wallet tracker is legal for monitoring your own assets, tracking someone else’s wallet without consent may cross legal boundaries.

It’s important to use these tools responsibly, focusing on crypto wallet monitoring for security and compliance purposes. Ethical use of BTC wallet trackers and similar tools ensures you respect privacy while safeguarding your investments. Always prioritize legality and ethics when you trace Bitcoin wallet addresses or monitor crypto activity.

Conclusion 

Mastering how to track crypto wallets is essential in the evolving world of digital finance, especially for those people who use crypto payment gateways and handle many transactions in currencies like Bitcoin.

With the right tools, like a crypto wallet tracker or BTC wallet tracker, you can confidently track crypto wallet addresses, monitor transactions, and trace Bitcoin wallet addresses—ensuring your assets are secure and well-managed. Stay informed, stay secure!

And if you are interested in accepting payments in crypto, but don’t know where to start, be sure to check out NOWPayments today.