In today’s world, which runs at a fast pace, one needs to be aware of the current status of his funds at every step. To avail this facility of TransferXO, you really need to know how to check your total asset balance in your wallet. It helps to manage the funds better and stays in a known financial position.
Whether you wish to know how much cash is available for daily expenses or simply want to plan for some big purchase, checking the total asset balance of your wallet is a pretty elementary but essential undertaking.
Now, to make life easier, this guide will attempt to walk you through the process in a clear, straightforward way. You don’t have to be a tech expert to do this. Just follow along, and in no time, you’ll arrive at a full understanding of your wallet balance.
Let’s dive in and find out how to check your total asset balance in your wallet for all your assets on TransferXO!
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To be more familiar with Crypto Debit Card, read through – How to Get a Crypto Debit Card on TransferXO
What is a Total Asset Balance?
Total asset balance is the overall sum of assets held in any financial account or wallet. It includes all of your funds, investments, and other resources you possess. This balance gives a crystal clear view of your financial standing for the management of your money.
The components that constitute your total asset balance include:
- Cash reserves
- Investments: stock, bonds, etc.
- Cryptocurrencies
- Commodities: gold, silver, etc.
- Other valuable assets
The total asset balance lets you understand how well your assets are doing and make informed smart financial decisions. It is for that reason that tracking wallet performance is highly important.
In the case of a wallet, the total asset balance is the sum of the values of all single assets. At the same time, this value can turn out to be of some market effects.
In the light of the whole health assessment of your wallet, take into consideration your total asset balance. That will also help in the areas which need diversification. By understanding your total asset balance, you would be gaining insight into your financial situation.
Take out time to read – How to Navigate the TransferXO Trader Dashboard
Why Should You Check Your Total Asset Balance?
Several reasons might be accountable for the necessity of checking your wallet’s total asset balance. Here’s all you need to take into consideration:
1. Understand Where You Stand Financially
The sum of assets in your wallet would inform you about your financial health in general. This would help you have an informed idea of how much you need to spend and how much you should save.
2. Realistic Financial Goals
Knowing your total asset balance will ultimately enable you to set realistic financial goals. Whether one is planning to go for a vacation or actually pay one’s debt, one can understand how much is achievable if he or she knows his or her current assets.
3. Learn Where Things Don’t Match-Up
Checking your total asset balance in the wallet will help find out discrepancies. The practice of discontinued accounting warns you about unauthorized movements or errors for safeguarding your finances.
4. Support Better Budgeting
Having an idea about your total asset balance encourages better budgeting. With an idea of what you own, you shall be in a position to make positive allocation and avoid overspending.
5. Allow You to Make Informed Financial Decisions
Checking your wallet for a total asset balance is something that helps in maintaining financial stability. From a point of information, you are empowered to make informed decisions on finances that are in line with your objectives.
By going through all these, you can fathom the reasons it is very important to go through the total asset balance in your wallet very often.
Don’t miss out to read – How to Buy Bitcoin With Debit Card On TransferXO
How Can You Check Your Total Asset Balance on TransferXO?
As explained earlier, the total asset balance for TransferXO is defined as the combined market value of various cryptocurrencies and digital assets belonging to each user.
In order to check your total asset balance on TransferXO, proceed with the following:
Step 1: Login into your account on TransferXO using your credentials.
Step 2: Once you are logged in, click on the “wallet” option, which is usually on the dashboard, after clicking the login button.
Step 3: You will be taken to a page where you will have to scroll down to see all asset balances. Your total asset balance should appear in summary on the front page screen, showing you the sum value of your assets.
You can find detailed help about the use of the TransferXO platform through the help articles that detail the step-by-step process in the management of your wallet and balance checks.
Also take out time to read – How to Navigate the TransferXO Trader Dashboard
What are the Supported Crypto Assets in the TransferXO Wallet?
Here are some commonly supported fiat currencies and cryptocurrencies that you might find on TransferXO:
Cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Tether (USDT)
- Tron (TRX)
FIAT Currencies:
- Nigerian Naira (NGN)
- Kenyan Shilling (KES)
- Ghanaian Cedi (GHS)
Read Also – How to Set Up 2FA on TransferXO
How Often Should You Check Your Total Asset Balance on TransferXO?
Some factors that help you decide on the frequency of checking your total asset balance on TransferXO are as follows:
- Daily Monitoring: Clearly, for an active trader or one who is frequently into buying and selling, day-to-day balance checking will help you know the market fluctuations and handle your investments in a deserted manner.
- Weekly Checks: For a moderate user, this frequency of checking would be just right to monitor large-scale changes without the hassles of daily volatility.
- Monthly Reviews: If you fall into the category of a long-term investor or have used TransferXO solely for bill payments with less frequent transactions, it would suffice to go through your assets once a month to see that they are in sync with your financial goals.
Also check out – How to Recover Stolen Cryptocurrency: TransferXO Security Measure
Are there any Fees Associated With Checking Your Total Asset Balance on TransferXO?
Checking your total asset balance via TransferXO involves no direct fees. However, note the following:
- No Fees for Balance Inquiry: The process of balance inquiry for the total asset indeed doesn’t cost anything to a user. They can get access to the information at any given moment without extra costs.
- Potential Transaction Fees: While checking your balance is free, there may be fees associated with other actions on the platform, such as adding funds or withdrawing assets. These fees vary based on the funding method you choose (e.g., bank transfer, credit card, or cryptocurrency transfer).
- See the Platform Details: For the most accurate and up-to-date information regarding any potential fee structure, please consult the TransferXO platform, as it can develop and change with time.
In summary, it is free to view your total asset balance, but be prepared to pay potential fees for processing your various assets in transactions.
Also Read – How To Take Profits in Crypto and Reinvest on TransferXO
What Do You Do If You Have Issues?
If you are experiencing any error while trying to check your wallet’s Total Asset balance on TransferXO, proceed as indicated below:
- Check your internet connection: Make sure it is stable. Sometimes, with a very poor or fluctuating connection, even accessing your wallet’s Total Asset balance may be affected.
- Log out and log back in: This can sometimes refresh the system and sort it out.
- Clear the app cache: If the problem remains while using the TransferXO application, then cleaning the cache may remove bugs blocking your view of the total asset balance of your wallet.
- Contact customer support: When the above steps do not work, reach out to the TransferXO customer support. They will assist you in any ongoing issues causing a problem in the wallet’s balance.
Following these steps will ensure that you efficiently solve any issue regarding checking of balance.
Frequently Asked Questions
Is there a mobile application to check the balance of my TransferXO?
Yes, TransferXO has a mobile application through which you will be able to see the current balance of your total assets and manage your wallet remotely.
Is my balance shown with transaction history?
Yes, your transaction history is available under the wallet section from where you can track all incoming and outgoing transactions together with your current balance.
How often does my asset balance get updated?
Your asset balance after every processed transaction would immediately be updated to show the most current amount available within your wallet.
Can I check my balance with some blockchain explorer?
TransferXO doesn’t support an option for reviewing your wallet balance with something like an external blockchain explorer. You have to see your assets through the platform.
Conclusion
It is important and easy to be able to check your total asset balance in your wallet. Knowing how to check the total asset balance in your wallet keeps you updated on the available money and also helps you to make good decisions on financial investments.
This can be done mostly in under five minutes with either a mobile application or online platform.
Just log in and go to the wallet section to view your balance. Also, it is a good practice to periodically check the balance of all your assets to avoid surprises and to keep a firm hand on your money.