Every experienced trader knows this dilemma. They want to try new wallets and exchanges to diversify their investment. But, then they’ll have to keep track of yet another platform which can be quite the hassle. Fortunately, there are portfolio management services that help you get around this problem by letting you monitor all of your crypto-related accounts in one place.
Among the many options available on the market, the one we’ve personally had the best experience with is CoinStats.
Ever since its launch in 2017, CoinStats has constantly updated its service to include more useful features and iron out any issues. Today, it stands as one of the top crypto portfolio managers in the world.
Join us as we analyze every aspect of this platform to see if it’s worth your consideration.
Features and Functionality
Here are some of the most useful features of CoinStats we’ve noticed during our time using this platform:
User interface and navigation
CoinStats' user interface is clean and easy to understand even after the first sign-up. However, the best part about this UI is that it still features all of the necessary information right on the dashboard. You can check metrics like the total USD worth of your crypto assets and the price movement of each asset on the portfolio landing page.
Its UI also has intuitive navigation that helps you get to the information you want as fast as possible. For instance, the details of your swaps, NFTs, transactions, open orders, and more are only one click away from the main screen.
Portfolio tracking and management
While the UI is praiseworthy, what interests us more are the portfolio tracking and management tools on CoinStats. It gives you the option to analyze your portfolio as a whole or dive into the performance of individual assets. You can also filter your holdings by specific exchanges and wallets to track more precise metrics.
Not only that, but CoinStats also comes with a plethora of useful tools to help you even further. These include features such as:
Price alerts and notifications
Regardless of how active of a trader they are, it’s nearly impossible for anyone to keep an eye on all of their investments simultaneously, 24/7. This is where the price alerts and notifications feature of CoinStats can help you stay in the loop.
You can receive alerts for things like:
In addition to these, CoinStats also lets you set custom notifications about price limits, trading volumes, and market caps.
Similarly, the CoinStats Midas feature offers data-driven alerts about the latest trends and purchases in the NFT market — allowing you to stay ahead of the curve.
Exchange and wallet integrations
CoinStats allows you to integrate hundreds of popular exchanges and wallets automatically. All you have to do is link to your account from that wallet or exchange and CoinStats will import the necessary data on its own.
Plus, if you’re using any platforms that aren’t compatible with CoinStats, you can also import those portfolios manually as well.
News and market analysis
A large part of succeeding in crypto trading is staying up-to-date with the latest trends and developments. With CoinStats, you can keep up with the hottest crypto-related news straight from its web or mobile app.
CoinStats also includes a section with handpicked news that features the most noteworthy updates in the crypto market. From our experience, this curated news section is fairly accurate in highlighting the most important market trends.
Supported Cryptocurrencies and Exchanges
Unless you’re in a specific subset of traders that only invest in the most popular crypto assets and use the most popular exchanges/wallets, wide-reaching support is essential.
So, how does CoinStats stack up in this department?
Exchanges & Wallets
CoinStats supports automatic integration of over 400 different crypto exchanges and wallets. These include some of the biggest names in the crypto world, such as:
In addition to these, CoinStats also supports less popular exchanges including:
If the platform of your choice is not supported by CoinStats’ automatic integration, don’t worry. You can also add portfolios by importing CSV files or including your transactions manually.
CoinStats supports active tracking and management for an impressive 8,000 cryptocurrencies on its platform. Some of the notable of these include:
CoinStats data accuracy
In total, you can track the live prices of 20,000+ cryptocurrencies and the floor prices for 35,000 NFTs with CoinStats.
From what we’ve seen, the data and presentation of these prices are on par with the biggest players on the market like CoinMarketCap. We did not find any major discrepancies or incorrect information.
CoinStats vs other cryptocurrency tracking tools
Here’s how other cryptocurrency tracking tools compare against CoinStats:
Number of Exchanges & Wallets
Coin Market Manager
This makes it abundantly clear just how far ahead CoinStats is from the rest of the market. Coinigy, Shrimpy, and Coin Market Manager might work for traders that exclusively use the most popular exchanges and wallets. But, if you want to venture outside this small range, CoinStats appears to be your best option.
CoinStats Premium Features
The cheapest plan on CoinStats is its free option that allows only 10 connected portfolios and 1,000 transactions at max. Plus, you might also experience ads when using the free tier. While this is very limited, it is still effective as a trial option to check out the basics of this platform.
If you want to get the full CoinStats experience, you will have to upgrade to the premium plan which costs $15.99 per month. If you select the option to pay for 12 months with one purchase, the subscription price goes down to $7.49 per month.
Features and benefits of the paid plan
Here are some of the best features that caught our attention when using the CoinStats premium plan:
Near unlimited imports
The premium plan increases the number of portfolios from 10 to unlimited. Similarly, it also allows you to manage up to 1 million transactions at the same time. This is more than enough for the most active professional traders.
As we mentioned earlier, Coinstats features a robust alert system that includes both automatic and custom notifications. However, this feature is exclusive for premium users and — from our use — we’d say it’s well worth the subscription price on its own.
Some highlights of this alert system include:
Technical analysis is the key to steady growth in crypto trading, and CoinStat’s premium plan offers multiple analysis tools to assist your research.
For instance, you can view your portfolio from a board view that shows your total withdrawals, deposits, and total fees you’ve paid. You can use this zoomed-out view to understand the overall effectiveness of your trading strategies and the impact they’ve had on your portfolio.
Similarly, you can also get insights into the crypto assets that CoinStats’ users are buying or selling. This information can help you optimize & update your trading strategies according to the latest trends — increasing your chances of profit.
Is the premium plan worth it?
Given the convenience of managing all of your portfolios from one platform, we’d say, yes, the premium plan is worth it. It is an especially good deal if you go with the yearly payment plan and a 53% discount.
User Reviews and Ratings
Our personal experience with CoinStats has been splendid. We did not experience any hiccups when setting up or using this platform with both the free and premium plans. But, what does the general user base of CoinStats think about this platform? Let’s find out!
In general, customer feedback for CoinStats is fairly positive with a Trustpilot rating of 4.8 stars. This rating comes from more than 9,300 individual reviewers, 88% of which have given full 5 stars.
These positive reviews are filled to the brim with compliments about the usefulness of this portfolio manager as a whole. Many of these reviewers are also satisfied with certain aspects of CoinStats like its ease of use and intuitive user interface.
Less than 4% of the total reviews are 3-star or less. Many of these negative reviews are about how a person tried to scam them over the phone by pretending to be from CoinStats. Some low-star reviews are also from folks who forgot to cancel their subscription and got charged automatically.
Very little — if any — of the negative feedback is actually a criticism of the platform.
Mobile app reviews
CoinStats mobile app is available on both Android and iOS, though it is significantly more popular on Android with more than 1 million downloads. The Android version also has 82,700+ customer reviews with a 4.7/5 star rating.
Similar to the web platform, customer feedback for the mobile app is overwhelmingly positive with users praising its hiccup-free performance and good UI. There are a small number of negative reviews as well. But they’re mostly focused on one-off issues like the app not working on a specific phone model after an update.
One thing that’s clear to us after analyzing these reviews is that the overarching sentiment toward CoinStats is mostly positive. This further solidifies CoinStats’ status as one of the best portfolio managers in the world.
Future Outlook for CoinStats
CoinStats’ service and features have been nothing but excellent so far — both for us and the general user base.
But, will this portfolio manager continue to be good in the future? Yes, it will, and here’s why:
Recent updates and developments
CoinStats is constantly getting updated with new features and improvements to old ones. In 2022 alone, the platform received 13 major upgrades, including:
Many of these features — like CoinStats Midas — are completely revolutionary and can change the way you trade crypto assets. Even smaller features like crypto gift cards can be useful for users who want a way of gifting crypto that’s both simple and convenient for the recipient.
Potential for growth and adoption
From what we’ve seen so far, the CoinStats portfolio manager does not show any signs of slowing down when it comes to new features and updates. The future of the platform looks bright as the CoinStats development team continues to work on improving the platform as a whole.
Risks and challenges
So, there aren’t any major risks with choosing CoinStats. Security can be a concern for portfolio managers as they are connected to all the entire crypto assets of a user. Fortunately, CoinStats take security as seriously as it should, which is evident from the fact that this platform has never been hacked before.
That said, we’d still recommend practicing caution on your part when using a portfolio manager. Use strong, harder-to-predict passwords, and never share them with anyone. As we saw from some customer reviews, some scammers are actively targeting CoinStats’ users. So, stay vigilant and never provide any sensitive information relating to your account.
To summarize our thoughts on Coinstats, this portfolio manager definitely lives up to the hype. Some users might find the lack of features in the free plan a little discouraging. But, we see the premium plan as completely fair for this excellent service.
Even if you’re just starting out with crypto trading, we’d still recommend checking out CoinStats. Integrating its tracking and analysis features in your trading strategies from early on can help you build a stronger portfolio.
In any case, make sure to do your own research before making a purchase. Happy trading!