Cryptocurrency has taken over 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 that’s where a great crypto tracker tool can help you. Blockfolio is the most popular crypto tracker app and allows you to keep tabs on all your investments from the palm of your hand. Our detailed Blockfolio review will tell you everything you need to know to make your decision on whether Blockfolio really is the best crypto portfolio app.
What is Blockfolio?
Blockfolio is a mobile app that allows users to check the latest crypto activity any time and anywhere. It was one of the first ever apps designed specifically to track cryptocurrency investments. The Blockfolio crypto tracker makes it simple to monitor the progress of your entire cryptocurrency portfolio.
The tool solves the problem of investors holding multiple cryptocurrencies in different wallets and having to log in to numerous different accounts to check their balances. Blockfolio data is stored in one centralized location and tracks the portfolio value across multiple exchanges. This is very useful, as there are more than 3000 different altcoins right now and finding price data on all of them is not easy. Blockfolio regularly updates their roster of new coins, so you don’t need to worry about keeping track of new coins.
What features does Blockfolio have?
Blockfolio competes 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 view coin data for the ones you are invested in.
- The crypto tracker lets you set price notifications which you can customize to alert you when a coin reaches a specified valuation. Users can also be alerted if a currency is losing value.
- This gives you the option to take action if a cryptocurrency falls below a certain price point. Top tip: Don’t set the app alert for too many coins. Dozens of notifications every day will become annoying.
- The application accepts different global currencies and supports over 3000 different cryptocurrencies.
- It shows detailed information on coins using easy to understand charts. These statistics can be viewed set over different time periods.
- The Blockfolio news bulletin. The “news” section enables users to keep track of the latest developments in the cryptocurrency industry. You are able to customize the RSS feed so you can add your favorite news publisher.
The Blockfolio app allows you to fully customize your cryptocurrency tracking tool and make it your own. We think the levels of customization are great and it’s awesome to see that Blockfolio has accepted that one size does not fit all when it comes to cryptocurrency portfolio tracking.
How to use Blockfolio?
Getting started with this crypto tracker app is easy. Blockfolio is available for download on both iOS and Android devices. The thing to note is that Blockfolio for desktop is not currently supported. Right now, its mobile only.
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Go to the App Store or Play Store where you will find the crypto portfolio for free. The application is recognizable with the big, white B on a black background. Launch the application and read through the tips. Tap “Finish” when you are ready to add your cryptocurrency investments.
Remove the default settings. The Blockfolio team would have added a cryptocurrency for illustrative purposes. Our advice is to delete every example so you can start afresh. By tapping on the coin, you will be transferred to a screen with details. You can delete the coin by tapping on the garbage bin in the top right corner and select yes. Repeat until you have no coins left on your homepage
Add the coins you want to track. Blockfolio is able to 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 “Add coin” or 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.
Add the details of your transaction. When you tap on a coin, you will be directed to the “Add Transaction” screen. Choose the “Trading Pair” and the exchange you used when buying your coins. Each coin will have its own list of exchanges and are filtered by different trading pairs.
Enter the number of coins you own in your wallet. It’s possible to change the historic prices – but that’s not necessary. You can do this by selecting ‘Trade Price’. Here you have the option of selecting the price you bought your coins for in the past. You can set the transaction date by ‘Trade Date’ and select “SAVE” in the right top corner when you are finished entering all the details.
Repeat step 3 to step 6 for each coin that you own. You should also create a new entry if you bought the same coin on a different date or at a different value. Once done you are ready to keep track of your entire cryptocurrency portfolio.
The main screen will now show an overview of your coins and the portfolio value. You can sort the coins by tapping on the column titles. Tapping on the coins will show the recent price changes for the coin. You are also able to zoom in on the graphs to view all details more easily.
Is Blockfolio Safe
Blockfolio is a safe application because you don’t have to enter any private information into the app. The crypto tracker will never ask you to fill in your personal information to access your account. Blockfolio’s sole purpose is to help you track and keep up to date with your cryptocurrency portfolio. The customer support team is also very quick to respond to questions. We find this quite amazing seeing that Blockfolio is a free app.
The only negative about this app is the possibility that Blockfolio sells your trading data to third parties. This could be a security concern if you are a cryptocurrency whale and own a significant proportion of a specific cryptocurrency circulating supply.
Concerns about Blockfolio
Blockfolio is a free application and we must understand that it has to generate revenue from somewhere to remain sustainable. After this privacy statement was released, many users came back to Blockfolio but this issue is still a concern for many in the cryptocurrency community
Another concern is that Blockfolio could list incorrect transaction prices. This problem can arise due to data inaccuracies or errors. Data errors can give the incorrect impression that a cryptocurrency price is rising or falling. In some cases, this incorrect data can cause panic amongst users. However, Blockfolio is good at acknowledging data issues and is very transparent about it on social media. Also, it must be said that these data issues do not occur often and this is not that big a deal in the grand scheme of things. Sure, day traders might have a temporary heart attack from incorrect Blockfolio data, however, it’s not that big an issue for the rest of us.
Pros and cons
Blockfolio is the most popular cryptocurrency portfolio tracker in the world and many already deem it the best crypto portfolio app ever.
- Blockfolio is a completely free application and does not push aggressive adverts in 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’s listed on and different trading pairs.
- You have the ability to customize your own price notifications. The app will alert you when the selected coin rises or falls above a value of your choosing.
- Blockfolio has a basic news feed. Users are able to customize this RSS feed and choose to only view news from their favorite publishers.
- Customer support is very quick to respond. We must stress how rare this is in the world of crypto portfolio apps.
- Every transaction must be entered manually to Blockfolio. Entering transactions can be time-consuming if you have invested in dozens of different cryptocurrencies.
- The data and prices of the coins can differ from the actual exchange rates offered on exchanges.
- If you own a lot of different cryptocurrencies, constant price notifications can be annoying. It can sometimes feel like the app is giving you too many alerts.
- Blockfolio sells and shares customer data to/with third parties.
The biggest Blockfolio alternative for the title of best crypto portfolio app is Delta. Delta is a relatively new crypto portfolio tracker and has only been around since late 2017. The application supports a similar number of coins to Blockfolio. New features are added regularly to Delta and, unlike Blockfolio, Delta does not sell or share customer data with third parties. Check out our Delta Guide before making up your mind on the Delta vs Blockfolio debate.
Another app that can be seen as a competitor is CoinCap. With CoinCap, you are able to make three different portfolios (Altfolio) and the app has ShapeShift integration. This integration gives users the option of buying and selling coins within the crypto tracker. However, CoinCap supports only 700 coins, which is significantly fewer than Blockfolio or Delta.
So, is Blockfolio really the best crypto portfolio app? The TotalCrypto Team believe it’s one of the best-designed crypto trackers on the market. Not only is it easy to use, it’s also completely free.
The app makes tracking your cryptocurrency portfolio easy and ensures you can keep up to date with changes in your portfolios valuation wherever you are. This ease of access makes the app highly addictive and some may prefer an invest-and-forget approach.
The Blockfolio app tracks a massive 3000 coins that can be added manually to your portfolio. If you own a lot of different cryptocurrencies, the process of adding all your coins can be time-consuming. However, we have little doubt that it’s worth it once you are finished. The customizable homepage and price alerts make it exceptionally easy to keep track of your investments.
In a nutshell, Blockfolio does exactly what it’s designed to do. However, it’s a shame that the data is not always accurate and that it shares customer data with third parties. Even with these shortcomings, we do think this crypto tracker is a must-have for every crypto investor.