This review will show you that CoinStats is a functional crypto portfolio manager that allows users to manage their crypto assets effectively in one place instead of manually navigating countless apps. With the help of a qualified portfolio tracker, real-time prices and asset valuation tracking are made easy.
CoinStats has over 8,000 cryptocurrencies and supports 70 wallets and exchanges. While some competitors may boast even more platforms, CoinStats makes up for this with its enhanced security measures, especially its military-grade encryption.
The CoinStats wallet also allows the DeFi Staking option for stablecoins with a yield of up to 20%. Users can also become part of other liquidity pools through CoinStats.
Overall, it is a great portfolio tracker for any user.
Who Should Use a Crypto Tracking Website Like CoinStats?
New crypto traders
A cryptocurrency portfolio tracker is a good proposition for a new and average crypto trader. This is because the crypto sector has faced threats to its security. Keeping your digital assets on multiple exchange platforms and wallet providers is a good idea.
However, too many platforms mean tracking your crypto investments can be a real headache. CoinStats supports many service providers that benefit most users who want to use its advanced security measures.
DeFi users
The Decentralized Finance (DeFi) opportunity presented by CoinStats is lucrative. While HODLing is a proven long-term investment strategy, many investors also want passive returns through a DeFi staking option.
CoinStats’ staking option allows these DeFi opportunists a big slice of the pie, and therefore, it suits them with a 20% annual percentage yield.
What Makes CoinStats a Good Choice?
One-stop App
CoinStats is a one-stop app tracking your cryptocurrency holdings across multiple wallets, exchanges, and addresses.
The Coinstats wallet service supports over 8,000 digital assets from the crypto market. No matter how small or big your crypto market cap is – whether it is your Binance crypto exchange wallet or a more web-focused Metamask wallet, CoinStats has you covered.
More than 70 platforms, both exchanges and wallets, are supported. CoinStats can also help you engage in crypto trading indirectly and make things much more streamlined.
Security
The CoinStats crypto wallet claims to have a military-grade encryption service for its app. This is a step up above other cryptocurrency portfolio trackers.
CoinStats reportedly has never been hacked since its inception, and that is a testament to how serious security is seen on the portfolio tracker.
CoinStats only receives limited access to your crypto exchange accounts so that its potential failure will not jeopardize the security of your entire crypto portfolio.
Opening a Coinstats Account
More details
CoinStats is a must-have cryptocurrency portfolio tracker for digital currency traders. It supports over 8,000 crypto assets and has a solid portfolio management dashboard. While the app doesn't have a robust free version like some portfolio managers, it is a practical choice for many. Users can connect to a wide range of wallets, exchanges, and other services to view their entire crypto portfolio on a single screen.
-
More than 8,000 cryptocurrencies are supported.
-
Staking option with 20% Yearly returns.
-
High-level encryption for asset security.
-
The free version has limited functionality.
-
No native trading engine.
-
Few crypto platforms missing on CoinStats.
Step 1: Visit the Coinstats website
Opening a CoinStats account is relatively easy.
You must go to the official website and tap/click on the [Login] bar at the top right-hand corner or download the official app for Android and iOS users.
More details
CoinStats is a must-have cryptocurrency portfolio tracker for digital currency traders. It supports over 8,000 crypto assets and has a solid portfolio management dashboard. While the app doesn't have a robust free version like some portfolio managers, it is a practical choice for many. Users can connect to a wide range of wallets, exchanges, and other services to view their entire crypto portfolio on a single screen.
-
More than 8,000 cryptocurrencies are supported.
-
Staking option with 20% Yearly returns.
-
High-level encryption for asset security.
-
The free version has limited functionality.
-
No native trading engine.
-
Few crypto platforms missing on CoinStats.
Step 2: Log in with the account of your choice
Login with Google, Coinbase, Facebook, Twitter, or an Apple account.
Step 3: Select pricing or ignore it for now
After the login, the platform once again shows the CoinStat app pricing.
You can [Start Free Trial] or [View All Plans] to get it immediately.
Step 4: Connect Portfolio
Click on the yellow [Connect Portfolio] tab on the left side to add wallets/exchanges:
Select the wallet you want to integrate from here. You can pick multiple options.
Let’s see how we can connect Metamask to the Coinstats account. This process users must do with a web version.
Connect Metamask and click [Next] on your Metamask interface.
Your portfolio is now shown on the left side under the respective wallet. It is so simple!
Coinstats Review: Top Features
Analytics
This is one of the most valuable features of the CoinStats platform. The analytics feature on the CoinStat app allows investors to take a deep dive into the statistics and decide based on the data. There are various tools available to track and follow Bitcoin and other cryptocurrencies.
Defi Staking
CoinStats offers a DeFi staking option for its users. It promises up to 20% APY return, one of the best in the market. You can also be part of other staking pools through CoinStats and track their progress. The Defi wallet is a handy application besides the portfolio management aspect.
Portfolio Management
Not only does CoinStats allow users to observe real-time prices and valuation of their assets, but you can also effectively track past trades and manage future ones.
There is also a whole backlog of data available for viewing purposes. Users can add assets and liabilities and have their overall worth automatically calculated and presented to them.
CoinStats is one of the best purpose-built portfolio management apps out there. It takes some time to get used to it, but its utility becomes apparent once you do it.
Coinstats Review: Supported wallets and exchanges
Supported exchanges include Binance, Bitfinex, BitMax, BitMEX, Bitso, Bitstamp, Bittrex, CEX.io, Coinbase, Currency.com, Gemini, HitBTC, Huobi, IDEX, Liquid, Kraken, Kucoin, Poloniex, Ledger, MetaMask, Tezos, Trust Wallet, Crypto.com Wallet.
Pricing
The basic version of the app is Free.
The premium version costs $9.99 per month. It is billed every 12 months.
View the full pricing option here.
Coinstats Review: Disadvantages
The free Version is Missing Features
The CoinStats platform’s basic version offers a minimal experience for crypto users. If you have accounts on several exchanges, it might not be easy to link them all on this app for portfolio management.
For $9.99 per month, CoinStats offers a much-improved experience, but all crypto service providers charge subscriptions, so only invest in them if you have enough skin in the game.
Some competitors allow a much better free user experience than CoinStats. The space is getting competitive with time, so we can see different free app versions that might offer more or more for less. So, CoinStats may need to improve its free version to hold on to many clients.
Lack of Native Trading Engine
The CoinStats platform has no native trading engine and is only a crypto portfolio tracker. From a cybersecurity side, it is also essential that the platform not be exposed to crypto exchanges and companies too much.
When one app gets a lot of control over the proceedings, it becomes a security threat. Perhaps this is why the developers of CoinStats had a particular focus on the cryptocurrency portfolio management side of things and did not let it become the master app or something similar.
But, if, in the future, it can be delivered without compromising crypto traders and their accounts, it can be a great addition.
Some Portfolio Trackers have Better Exchange Connectivity
While the CoinStats app is a good portfolio tracker overall, it does lag behind some competition members regarding exchanging accounts and connectivity.
While all major wallet service providers and exchanges are supported, some small ones might be missing from users’ lists. So, compared to other apps, crypto portfolios with relatively obscure companies might have problems connecting with them on CoinStats.
This may not be a problem for 90% of crypto users. However, considering that crypto traders come from all kinds of backgrounds, it is important that CoinStats improves its connectivity, or it will lag.
Summary
In short, CoinStats is an excellent crypto tracking website for users from across the crypto market. It offers a great option to manage crypto from one place, boasting a secure environment due to its extensive encryption regime.
In addition to being a crypto portfolio tracker, CoinStats also offers you a chance to earn staking rewards through its own DeFi pool. Users can also become part of other staking pools via CoinStats.
The only major downside to CoinStats is that the free version doesn’t have a lot of options. Users need to cough up the $9.99 monthly and pay it yearly. Also, it might not support some obscure wallets with a limited number of users as others might.
So, if you don’t mind paying extra to unlock CoinStats’ useful features, head to its official crypto tracking website and sign up now.
It should be no problem, as CoinStats cannot access your funds on the exchange. It merely uses for its API key to help track your portfolio.
You can not withdraw or deposit from a CoinStats account as it doesn't store your crypto in any capacity. It only uses numbers from your exchange accounts to determine your overall worth.
CoinStats is registered in Yerevan, Republic of Armenia.
