Blockfolio Review

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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.

BlockFolio Review

Best Features

Blockfolio’s core value proposition is that it’s free, easy to use and provides straight-from-the-horse’s-mouth news from cryptocurrency development teams.

Here’s a closer look at the tracker’s most important features.

Also Read : StrongCoin Bitcoin Wallet Review

Free portfolio tracking

As mentioned above, Blockfolio’s tracker is completely free. This distinguishes the app from competing trackers, many of which require their users to pay to unlock certain tracking functionalities. Blockfolio’s tracker sports a slick-looking, modern interface and it supports just about every token or coin imaginable.

Built-in news feed

The new Signal feature lets you follow coin development teams and receive direct news from them. This saves you the hassle of sifting through Twitter, Google News and other sites when you want to find out what’s going on in the cryptocurrency industry.

Switch between multiple portfolios

Last year, the Blockfolio team reached out to their users to find out what feature they should work on next. The most requested feature turned out to be the ability to add and manage multiple portfolios. The Blockfolio team listened and added multiple portfolio support to the Blockfolio 2.0 rollout.

Easy backup and restore

All your portfolio data can be retrieved on another device by inputting a token code. This makes it easy to restore your portfolio data if you lose your phone or switch to a new phone.

Limitations

The major weakness of Blockfolio is that it can’t import data. In order to use this tracker, you have to enter and adjust all your financial information manually. If you sell some of your assets, you have to update your portfolio yourself. There’s no way to link your crypto wallets and crypto exchange accounts to your Blockfolio account.

Another key limitation is the fact that there is no web version of the Blockfolio app. This means that you can’t update your portfolio and check to see how it’s performing unless you use your phone to do so.

Mobile Apps

Both the Android and iOS version of Blockfolio have excellent reviews. The Android app has a 4.5 rating after 80,000+ reviews. The iOS app has over 5,000 reviews and a 4.7-star rating.  Aside from a handful of users who preferred the design of the old version over the new Blockfolio 2.0 look, it’s hard to find critical remarks about the apps.

Subscription Prices

So far, Blockfolio has delivered on its “100% free” promise. Neither one of the apps have any ads or paid subscription options.

User experience

The first part of the interface that you’ll see after you install Blockfolio is Home, which is accessible via an icon on the bottom left side of the app. It allows you to quickly enter in and track your cryptocurrency assets.

Clicking a cryptocurrency takes you to Details view. This brings up a candlestick chart that shows the price movements of any coin that you’re tracking. Tabs on the top of the interface let you view your recent transactions, set up alerts or view your exchange’s order book.

You can access Blockfolio’s new built-in news feature by clicking the Signal icon, which is also located on the bottom of the interface. One convenient aspect of Signal is that it doesn’t crowd your feed by automatically adding news from all the coins that you own. You have to opt in to get the updates.

Customer Support

The Blockfolio team supports its apps via email, Telegram chat, Twitter and Facebook. They also respond to user comments in Google Play and Apple’s App Store.

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.

Step 1:

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.

Step 2:

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

Step 3:

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.

Step 4:

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.

Step 5:

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.

Also Read : Exodus Wallet Review

Step 6:

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.

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.

Pros

  • 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.

Cons:

  • 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.

Final Words:

If you’re just looking for a simple and free cryptocurrency tracker, Blockfolio could be worth a try. It not only supports all the major cryptocurrencies, but it also delivers exclusive news from cryptocurrency development teams. But if you’re looking for a cryptocurrency tracker that can help you do your taxes or import data, there are better products out there.

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