If you read our article on how to use the billionaire mindset with crypto assets you would know that you can earn high interests on your cryptos and generate wealth with alternative solutions such as FTX on your mobile. Here we will present you the App formerly Blockfolio to buy Bitcoin, Ethereum, Dogecoin & more, securely in minutes. Plus earn up to 8% on all crypto and fiat you deposit.
Blockfolio is the gold standard of crypto portfolio tracking apps. There is simply no other way to put it.
Created back in the early days of the cryptocurrency space (and even Bitcoin itself) in 2014, the mobile application quickly became the most preferred way for crypto speculators to keep track of their portfolios. While many other similar apps have been launched since this time, none of them have been able to gain the same sort of market share as Blockfolio.
Additionally, Blockfolio has continued to add more features and customization to their apps over the years, including their Blockfolio Signal service and even the ability to buy and sell crypto directly within the Blockfolio app with zero fees. After raising $11.5 million in investment capital back in 2018, the company behind the app was eventually sold to international cryptocurrency exchange FTX. Let’s take a closer look at why Blockfolio is widely-regarded as the best crypto portfolio tracker on the market.
Best Features of Blockfolio
In addition to being the oldest crypto portfolio tracker on the market, Blockfolio also has one of the largest feature sets of any of these sorts of apps. Perhaps most notably, the crypto tracker actually lets users buy and sell cryptocurrency from within the app with no fees. This feature became available after Blockfolio was acquired by the well-known cryptocurrency exchange FTX. While many other crypto portfolio trackers allow their users to trade on cryptocurrency exchanges from within the app, the integration between Blockfolio and FTX is the tightest such collaboration in existence, which is what enables the ridiculously low fees.
Even if you’re not interested in trading from directly within the Blockfolio app, there is no better option for gaining a full view of your entire crypto portfolio. With support for more than 10,000 crypto assets and 500 crypto exchanges, you’re basically guaranteed that you will be able to track every single little niche crypto token that you’re holding in hopes that it goes to the moon in the near future. The integrations with exchanges are particularly important here because it helps you automate the entire process of getting all of your crypto holdings tabulated in one central location. With some of the other crypto portfolio trackers, you would literally have to manually input every trade into your phone.
The news feed that is built into Blockfolio is also impressive. In addition to offering a default feed of all of the top news in the cryptocurrency space, Blockfolio also offers a large amount of customization when it comes to this section of the app. Indeed, you can get much more of the relevant signal out of all of the noise in the crypto space by limiting the news that you take in to a few key cryptocurrencies that you’d like to watch. Closely related to the news feature of the app is Blockfolio Signal. This allows cryptocurrency developers to connect directly with their holders and users of their tokens, which is extremely helpful when you consider that there are more than 6 million Blockfolio users. Of course, it’s important to remember that you’re unlikely to hear about any kind of bad news about a token from the team behind the cryptocurrency, so it’s important to seek out more neutral news sources as well.
One last unique feature of Blockfolio to mention is that you can integrate pricing updates and Blockfolio Signal notifications directly into your Slack groups. Whether you want to push notifications from a particular coin’s development team into a Slack channel or you want anyone to be able to easily pull up the price of a specific crypto token, Blockfolio has an easy way to make this happen.
Is Blockfolio Safe?
One of the important things to remember when you’re using a crypto portfolio tracker is these applications sometimes have access to your real crypto holdings, and that can definitely be the case with Blockfolio.
Blockfolio allows users to trade crypto directly within the app, so it is basically just an extra interface on top of the various exchanges the user has accounts at in many instances. In addition to enabling free, direct trading on FTX for its users, Blockfolio also has integrations with more than 500 other exchanges. That said, users are not able to trade at all of these different exchanges from within the Blockfolio app. In some cases, users are only able to view the market data associated with an exchange, and in other cases, users may only be able to view the value of their holdings at a particular exchange. However, users are also able to trade at a variety of popular exchanges via the associated APIs from their Blockfolio app as well.
In terms of safety, you need to treat your Blockfolio account similar to how you would treat an exchange account. In fact, you may need to treat your Blockfolio account with more sensitivity when it comes to security due to the fact that you may have a large number of different exchange accounts associated with a single interface via this crypto portfolio tracker. As long as you take all of the normal security precautions that you would take with an exchange account, such as two-factor authentication and using a PIN, you should not run into any trouble. Having said that, you need to think about the security of the underlying exchanges where you are doing the real trading in the backend of the Blockfolio app as well.
How do you calculate APY? Does my balance compound daily?
Blockfolio will deposit yield earnings from the staked coins, calculated hourly, on the investment portfolio that is stored in your FTX App. Yield will be compounded on principal and yield you have already earned. Any cryptocurrency that you have deposited on FTX as well as any fiat balance you may have on your account, will earn yield immediately after you have opted into the program.
The first $10,000 USD value in your deposit wallets will earn 8% APY. Amounts held above $10,000 USD value (subject to market fluctuations) will earn 5% APY