Blockfolio app ▷ is it the best crypto tracking app?
Cryptocurrency has conquered the world. In today's crypto landscape, it is common to have invested in many different cryptocurrencies. This makes tracking the value of all your investments a real struggle and this is where a great crypto tracker tool can help you. Blockfolio is the most popular crypto tracker app and allows you to keep track of all your investments from a single source. Our in-depth Blockfolio review tells you everything you need to know to make your decision about whether Blockfolio is truly the best crypto portfolio app.
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What is Blockfolio?
Blockfolio is a mobile app that allows users to access the latest crypto activity anytime, anywhere. It was one of the first apps specifically designed for tracking cryptocurrency investments. The Blockfolio crypto tracker makes it easy to monitor the progress of your entire crypto currency portfolio.
The tool solves the problem that investors hold multiple cryptocurrencies in different Wallets and have to log into numerous different accounts to check their balances. Blockfolio data is stored in a central location and tracks portfolio value across multiple exchanges. This is very useful as there are more than 3000 different altcoins at the moment and it is not easy to find price data on them all. Blockfolio periodically updates the list of new coins so you don't have to worry about keeping track of new coins.
What are the functions of Blockfolio?
Blockfoliokompets for the best crypto portfolio app with these compelling features:
- Create your own customizable homepage.
- Cut through endless stats on hundreds of coins and only look at the coin data for the ones you are invested in.
- The crypto tracker allows you to set price notifications that you can customize to warn you when a coin reaches a certain rating. Users can also be notified when a currency is depreciating.
- This gives you the opportunity to take action when a cryptocurrency drops below a certain price point. Top tip: Don't set the app alarm on too many coins. Dozens of notifications every day get annoying.
- The application accepts various global currencies and supports over 3000 different cryptocurrencies.
- It shows detailed information about coins using easy-to-understand cards. These statistics can be viewed over different time periods.
- The Blockfolio news bulletin. The "News" area enables users to follow the latest developments in the cryptocurrency industry. You can customize the RSS feed so you can add your favorite news publisher.
With the Blockfolio app you can completely customize your cryptocurrency tool and make it your own. We think the level of customization is great and it is fantastic to see that Blockfolio has accepted that one size doesn't fit all when it comes to tracking cryptocurrency portfolios.
How do you use Blockfolio?
Getting started with this crypto tracker app is easy. Blockfolio is available for download on both iOS and Android devices. Please note that Blockfolio for Desktop is currently not supported. Right now it's just the cell phone.
Step 1:
Go to the App Store or Play Store, where you can find the crypto portfolio for free. The application can be recognized by the large, white B on a black background. Start the application and read the tips. Tap "Finish" when you are ready to add your cryptocurrency investments.
Step 2:
Remove the default settings. The Blockfolio team would have added a cryptocurrency to illustrate. We recommend deleting each example so that you can start over. When you tap the coin, you will be taken to a screen with details. You can delete the coin by tapping the trash can in the top right corner and selecting Yes, and repeat this until you have run out of coins on your homepage.
Step 3:
Add the coins you want to track. Blockfolio can track over 3000 different coins, making it one of the most comprehensive portfolio applications on the market. You can add a new coin by tapping on "Add Coin" or on the "+" in the right corner. Bitcoin and Ethereum will always be at the top of the list. Use the search box to find your coin and tap on it.
Step 4:
Add the details of your transaction. When you tap a coin you will be taken to the Add Transaction screen. Select the "Trading Pair" and the exchange rate that you used when you bought your coins. Each coin has its own list of exchanges and is filtered by different trading pairs.
Step 5:
Enter the number of coins you have in your wallet. It is possible to change the historical prices - but it is not necessary. You can do this by selecting 'Trade Price'. Here you have the option to select the price for which you bought your coins in the past. You can set the transaction date after 'Trade date' and select "SAVE" in the top right corner when you have finished entering all details.
Step 6:
Repeat step 3 through step 6 for each coin you have. You should also create a new entry if you bought the same coin on a different date or for a different value. Once you're done, you're ready to keep track of your entire cryptocurrency portfolio.
The main screen now shows an overview of your coins and the portfolio value. You can sort the coins by tapping on the column titles. When you tap on the coins, the last price changes for the coin are displayed. You can also zoom in on the graphs to see all the details more easily.
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Is Blockfolio Safe?
Blockfolio is a secure application as you don't need to enter any private information into the app, the crypto tracker will never ask you to enter your personal information to access your account. The sole purpose of Blockfolio is to help you keep track of your cryptocurrency portfolio and keep it up to date. Customer support also answers questions very quickly. We think it's pretty amazing to see that Blockfolio is a free app.
The only negative about this app is the possibility that Blockfolio will sell your trading data to third parties. This could be a security issue if you are a crypto whale and own a significant portion of a certain cryptocurrency in circulation.
Concerns about the app's blockfolio
The biggest problem with Blockfolio is that the application sells user-generated trading data. Many users have uninstalled the crypto tracker for this reason. However, Blockfolio declares in its privacy policy that the application does not sell, rent or trade any individual personal data to independent third parties. You can share, sell, or rent aggregated data with third parties for research purposes.
Blockfolio is a free application, and we need to understand that it needs to generate revenue of some sort in order to be sustainable. Many users came back to Blockfolio after this privacy notice was posted, but this issue is still a problem for many in the cryptocurrency community.
Another problem is that Blockfolio could list incorrect transaction prices. This problem can arise from data inaccuracies or errors. Data errors can give the wrong impression that a cryptocurrency price is rising or falling. In some cases, this false data can cause panic among users. However, Blockfolio is good at recognizing data issues and is very transparent on social media. Also, it has to be said that these data issues don't come up often and, by and large, that's not that big of a deal. Sure, day traders could have a temporary heart attack from incorrect Blockfolio data, but it's not that big of a problem for the rest of us.
Advantages and disadvantages
Blockfolio is the world's most popular cryptocurrency portfolio tracker and is already considered by many to be the best cryptocurrency portfolio app ever.
Benefits
- Blockfolio is a completely free application and it won't put aggressive ads on your face. This gives the crypto tracker a very clear and user-friendly look.
- You are able to add over 3000 cryptocurrencies to your portfolio. Every cryptocurrency also has data for every exchange it is listed on and for different trading pairs.
- You have the option to customize your own price notifications. The app warns you when the selected coin increases or falls below a value you have chosen.
- Blockfolio has a simple news feed. Users can customize this RSS feed and choose to only display news from their favorite publishers.
- Customer support is very responsive. We need to emphasize how rare this is in the world of crypto portfolio applications.
Disadvantages
- Each transaction has to be entered manually in Blockfolio. Entering transactions can be time consuming when you've invested in dozens of different cryptocurrencies.
- The dates and prices of the coins may differ from the actual exchange rates on the exchanges.
- If you own a lot of different cryptocurrencies, constant price notifications can be a nuisance. It can sometimes feel like the app is giving you too many notifications.
- Blockfolio sells and passes on customer data to third parties.
Alternatives to the Blockfolio app
The biggest Blockfolio alternative for the title of the best crypto portfolio app is Delta. Delta is a relatively new crypto portfolio tracker and has only existed since the end of 2017. The application supports a similar number of coins as Blockfolio. Delta is regularly expanded with new functions, and unlike Blockfolio, Delta does not sell or share customer data with third parties. Read our Delta Guidebefore you settle for the Delta vs. Blockfolio debate.
Another app that can be considered a competitor is CoinCap. With CoinCap you can create three different portfolios (Altfolio) and the app is integrated with ShapeShift. This integration gives users the ability to buy and sell coins within the crypto tracker. However, CoinCap only supports 700 coins, which is significantly less than Blockfolio or Delta.
Conclusion
Is Blockfolio Really the Best Crypto Portfolio App? The team at Bitcoin News.one believes it is one of the most advanced crypto trackers out there. Not only is it easy to use, but it's also completely free.
The app makes keeping track of your cryptocurrency portfolio easy and ensures that you stay up to date on changes in the valuation of your portfolios wherever you are. This easy accessibility makes the app addicting and some may prefer an invest-and-forget approach.
The Blockfolio app tracks a massive 3000 Coinsthat can be added manually to your portfolio. If you own a lot of different cryptocurrencies, the process of adding all of your coins can be time consuming. However, we have no doubt that when you're done, it's worth it. The customizable homepage and price notification make it particularly easy to keep track of your investments.
In short, Blockfolio does exactly what it was designed to do. However, it is a pity that the data is not always correct and that customer data is passed on to third parties. Despite these shortcomings, we think that this crypto tracker is a must have for every crypto investor.