Welcome to Coinstats!
Cryptocurrency is the wild west.. Any seasoned crypto-veteran can tell you that this market requires a different approach then traditional assets. A square peg cannot fit in a round hole! In order to succeed in crypto, you need to put yourself in a position to succeed first. This blog is going to be a review of a new app called Coinstats which can help provide the edge you need.
Tracking Market Volatility:
Determining market direction is crucial for all investors and traders alike. The "home screen" provides an instantaneous snapshot of the cryptocurrency market caps, allowing you to sort by their total market cap, relative % change, and volume - useful for identifying opportunities! Here is a snapshot taken from their app in dark mode!
In a 24/7/365 market, you need all the advantages you can get! Lets explore what else the app has to offer..
Tracking Asset Prices:
This feature is crucial for anyone who has money in the market! There is insane value in tracking the price of an asset while your eyes can't be on the charts. Anyone involved in the space can tell you that sometimes the biggest moves happen when you aren't looking. Coinstats also allows for tracking of other factors within the market:
- Price changes of multiple assets
- Market capitalization fluctuations.
- Trading volume for a certain pair.
- Relevant breaking news.
- Changes in portfolio value.
Frankly, these are very valuable features that I have not seen offered within the same app. Convenience is key when it comes to successfully investing and trading in the crypto space.
Staying Informed:Fundamental factors can influence the price in crypto faster than you can find the news stories on whatever website you choose. Coinstats has an intuitive and rapidly updated news section that curates from the best sources available on the internet. Further, breaking stories can ping your phone with a notification - never be uninformed again!
Another fun feature that I liked was the ability to vote "bullish" or "bearish" on the news story. Obviously everyone has their own perception of events, and this feature is a true manifestation of differential perception. Plus, its an intriguing measure of market sentiment.
Tracking your portfolio:
Considering individual buy in prices in different currencies, exchanges, dates, and all of that information can create quite the head ache! Cointracker has reduced the stress you can experience by offering the following quality of life features:
Connect an exchange.
Connect an online wallet.
Sync with Ledger live.
Manually add transactions.
Track your entire crypto investment in one screen, what is not to like?
Note: Syncing exchanges requires supplying the API from desired platform - no need to share login.
Creating an edge for yourself..
Taxes can be a massive headache for investors! Tracking capital gains and losses are required, and the pro plan of Coinstats solves that problem! I just want to establish some of the other benefits that pro boasts:
Notifications for limit and market order fills.
Simple trade execution via the app (connected via API).
Pump + New pair notifications as soon as they happen.
Connection of multiple (2+) exchanges to their portfolio tracker.