The Ultimate Guide to Blockfolio: Complete Review

When it comes to checking the prices of cryptocurrency, most people – especially new users – automatically take to the website, CoinMarketCap. The platform is simple, accessible and popular, it serves as an efficient and credible option to keep track of the immensely dynamic prices for these digital assets.

However, there are those who do not want to check the value of all cryptocurrencies but seek an easy, reliable and accessible method of checking the value of only those specific digital assets which they hold.

After all, searching through hundreds of cryptocurrencies on CoinMarketCap only to find the two digital assets you actually hold in your portfolio seems like a pretty mundane task, right?

Understanding this need by cryptocurrency users, Blockfolio does what CoinMarketCap cannot. The solution allows users to create and manage their own cryptocurrency portfolio, allowing them to do two things. Check the value of their specific cryptocurrencies and keep track of their investments.

There has not been a cryptocurrency portfolio mobile app that could claim to even come close to Blockfolio in terms of popularity. It easily remains as one of the most widely used methods of cryptocurrency portfolio management by mobile users.

So what is it that makes Blockfolio so special?

That is the question we will be finding an answer to through this review; we will go through the app’s functionality, it’s reliability, ease of use and other aspects to determine whether the famous app holds up to its reputation.

Blockfolio Review: What is Blockfolio?

Launched in 2014, Blockfolio is known as a cryptocurrency portfolio manager, through which you can easily track cryptocurrencies of interest as well as those that are emerging as top players in market trends.

The app is available on both Android and iOS and at the time of writing remains the world’s most popular app for cryptocurrency portfolio management.

The app is based out of U.S., more specifically from the region of Playa Vista, California. It was founded by Charlie Mason and Edward Moncada.

Mason is an inventor with his previous venture being GBoard, which was a small keyboard that worked with Gmail features. He served as Blockfolio’s CEO until 2107.

Whereas, Moncada is a former professional poker player turned entrepreneur who succeeded Mason as Blockfolio’s CEO. He is also a foundation board member for the popular cryptocurrency, Dash.

Blockfolio Review: What Does Blockfolio Do?

With support for more than 3,000 cryptocurrencies listed on the app, users can either go through the updated rates for all of them in a generalized manner or select specific assets with a vested interest. From popular cryptocurrencies such as Bitcoin to Ethereum to the ones which are obscure and new, Blockfolio provides a list of all the cryptocurrencies in which investments could be held by its users.

The crypto profiles that are kept on the app are displayed in over 60 fiat currencies including but not limited to USD, EUR, GBP, and CAD. In addition to this, users can get pricing alerts whenever any of their highlighted assets reaches a particular value.

The app also fetches rates from over 80 exchanges all around the world. This means that you do not have to rely on the rates offered by one exchange with blinders on but can have the right knowledge and information in front of you to make smart investment decisions.

The interface of the app remains modern to use yet traditional to view. Since the valuation charts remain similar to the trading interface of popular cryptocurrency exchanges, it provides a sense of familiarity to users who do not have to adapt to a new method altogether for the sake of viewing cryptocurrency information.

Image Courtesy of Blockfolio.com

 

Another feature on the app is its ability to provide cryptocurrency signals, which are development updates on different cryptocurrencies that are shared in the form of news right through the app.

All of these functionalities make Blockfolio a powerhouse of an app in its target segment, which answers the question of its popularity.

Blockfolio Reviews

Blockfolio has an overall positive reputation in terms of app reviews and remains very popular among its user base. However, a growing number of users report that the values shown by the app do not always seem to be accurate.

Similar to CoinMarketCap, Blockfolio is supposed to be generating its revenue through ads. However, not all users have seen ads while using the app and some allege that the app makes money by selling users’ data.

On a Reddit thread that asked for recommendations and saw participation from various established accounts, including the co-founder of Blockfolio’s competitor Delta, it was mentioned by various users that they have started using Delta instead of Blockfolio due to the latter’s questionable credibility.

Blockfolio vs. CoinMarketCap

As stated above, one cannot really talk about cryptocurrency value analysis without mentioning CoinMarketCap at least once. The services provided by Blockfolio and CoinMarketCap are different. The latter only provides cryptocurrency values, and the thin line between their distinction confuses a few users. Thus, a comparison between the platforms is necessary.

Once again, the biggest difference between both services is that Blockfolio provides a complete cryptocurrency portfolio management solution, while CoinMarketCap draws the line at providing the rates for cryptocurrencies.

However, CoinMarketCap is mentioned in such settings because the website emerged as a behemoth in 2017. CoinmarketCap became the go-to platform for simply and quickly checking the prices of cryptocurrencies across the board. The site is still largely used for checking the prices of new and old coins alike.

While CoinMarketCap is widely used and seems to be the primary website in terms of desktop users, the interface of Blockfolio’s app is more polished than its more popular competitor.

According to Amazon’s website traffic analysis and aggregator Alexa, CoinMarketCap unsurprisingly ranks high and mighty over Blockfolio in terms of popularity.

According to the data, CoinMarketCap’s website is leagues ahead of Blockfolio’s website in terms of popularity. Both websites rose in fame during the cryptocurrency market boom towards the end of 2017, but have since declined in popularity ranking as the world took a more sublime and less curious approach to the world of digital assets.

The descent is more profound with Blockfolio, with it losing 84,986 positions in the last 3 months as compared to CoinMarketCap’s loss of 122 positions. However, when you look at the current rankings of both sites with Blockfolio being at the global rank of 289,752 and CoinMarketCap at 297, things turn out to be different.

The overall dip in rank percentage seems to be larger for CoinMarketCap with around 27% loss in ranking, while for Blockfolio it comes down to be around 23%.

Whereas, when it comes to mobile app downloads, it is a completely different story.

Blockfolio rules the mobile app download world with more than 1 million downloads on the Google Play store for Android. Its app has a rating of 4.7 on Google Play with over 73,000 reviews; whereas, on Apple’s App store, the app has a similar rating of 4.7 but with over 4,300 reviews.

CoinMarketCap lingers lethargically in the mobile app space since its own app was only recently launched in May 2018. Its rating on App store is 3.9 out of over 130 reviews. The app does not exist on Google Play.

The descent is more profound with Blockfolio, with it losing 84,986 positions in the last 3 months as compared to CoinMarketCap’s loss of 122 positions. However, when you look at the current rankings of both sites with Blockfolio being at the global rank of 289,752 and CoinMarketCap at 297, things turn out to be different.

The overall dip in rank percentage seems to be larger for CoinMarketCap with around 27% loss in ranking, while for Blockfolio it comes down to be around 23%.

Whereas, when it comes to mobile app downloads, it is a completely different story.

Blockfolio rules the mobile app download world with more than 1 million downloads on the Google Play store for Android. Its app has a rating of 4.7 on Google Play with over 73,000 reviews; whereas, on Apple’s App store, the app has a similar rating of 4.7 but with over 4,300 reviews.

CoinMarketCap lingers lethargically in the mobile app space since its own app was only recently launched in May 2018. Its rating on App store is 3.9 out of over 130 reviews. The app does not exist on Google Play

Blockfolio vs. Delta

As shown in the Reddit thread, there’s another player in the same portfolio management game by the name of Delta, which is giving a tough time to Blockfolio as of late in the wake of user complaints about data inaccuracy.

Having only launched in October 2017, Delta has more than 100,000 downloads with 4.6 rating on Google Play with over 9,000 reviews. On the App store, it has a rating of 4.8 out of over 4,500 reviews.

The app is free to use with 95% of its functions available to be utilized by any user without them paying any amount for the service. However, if someone needs power features such as tracking cryptocurrency value from more than 3 exchanges simultaneously, then they are charged a monthly fee that at the time of writing is slated to be around $8.95/month, and a lower price if you decide to sign up for a year (their deals update from time to time).

Delta is yet another service whose website was affected with the positive influence of the cryptocurrency boom and then with the lack of user interest afterward.

However, Delta is gradually increasing in popularity due to its even friendlier interface and smooth operations, along with its ability to offer desktop users its own solutions in the form of a downloadable app. Once again, it is mostly because Blockfolio users are increasingly reporting issues with Blockfolio’s apps.

A Side by Side Comparison of Blockfolio, CoinMarketCap, and Delta

Blockfolio Review: Conclusion

Blockfolio has been the primary provider of cryptocurrency portfolio management for a few years now. While the issues about data accuracy are being reported by numerous users, its solutions remain of the same level that had it achieve the stature of having over 1 million downloads all over the world – and still counting.

Therefore, giving it a try cannot hurt, but just to ensure that you are receiving accurate data, try corroborating the prices reported by the app through a few other sources on random occasions. By doing this, you can ensure that you are not being led with false values.

Blockfolio Rating: 4.5 - Review by

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.