How to use Blockfolio – that is the million dollar question.
And it usually comes from people who have been in the cryptocurrency market for a while now.
At least a few months.
Blockfolio is an extremely useful and time-saving mobile app. It is perfect for people who constantly want to see the value of their cryptocurrency portfolio at a glance. You can add your holdings, remove your holdings, track your holdings, and create alerts to notify you when to sell! Blockfolio is the world’s most popular free mobile app that tracks the portfolios of Bitcoin and other cryptocurrencies. With information from more than 8,000 cryptocurrencies, you will always receive notifications to keep up with the latest news on the crypto market.
When you first get started, chances are you bought Bitcoin directly and maybe experimented with one or two of the other top altcoins.
But then you started trading more.
Not too much more, but to the point where you had to create an Excel spreadsheet to keep track of your coins and earnings.
But this is inefficient.
Having to manually update your holdings every time you want to see the value of your bags.
So you did your research and finally stumbled upon Bitcoin and cryptocurrency portfolio management apps.
And you want to learn how to use Blockfolio to manage your coins and create a dashboard that automatically updates the value of your crypto holdings.
So let’s figure out how to do this.
What Is Blockfolio?
For those of you that are unsure, Blockfolio is a portfolio management app for cryptocurrencies.
This is their official website.
It lets you add holdings to your account and track the value of your cryptocurrencies in real time.
It eliminates the need for time-consuming Excel spreadsheets and the constant manual updating needed to keep them in line with the current market prices.
Blockfolio really is a huge timesaver that allows you to see the total value of your holdings with a simple click of a button.
How Does Blockfolio Work?
Blockfolio has a very simple user interface that is intuitive and easy to get the hang of.
Once you play around with it for a few minutes, you can pretty much understand how it works.
And how it works is the following:
1) Download The Blockfolio App
2) Add Current Holdings To Your Portfolio
3) Watch The Value Of Your Portfolio Rise And Fall In Real Time
And that’s it.
It’s really as simple as that.
We provide step-by-step instructions of how to do all of this below.
Is Blockfolio Safe?
Blockfolio is safe.
Safe in the sense that no one can actually access your cryptocurrencies through the application.
All you are doing is manually inputting the amount of cryptocurrency that you have into the app, and tracking the value of your portfolio on a weekly basis.
You don’t ever have to provide you public or private keys.
The only thing that you may want to be cautious of is someone seeing the amount of money that is in your portfolio.
Most people want to keep this type of information private.
This could happen if somehow you lose your phone or your phone becomes compromised in some way.
To combat this, Blockfolio actually has an “Enable Passcode Lock” feature built into the app.
This feature is optional, and allows you to put a 4 digit code into the app that must be used in the future in order to access it and view your holdings.
So, yes, the app is pretty safe.
How Do I Set Up Blockfolio?
First things first: you have to actually download the app.
Blockfolio can be used on iOS and Android.
It can be downloaded from the App Store or Google Play.
Once it’s downloaded, all you have to do is add your crypto holdings to the app.
How Do I Add Money And Holdings To Blockfolio?
*Please note that the Blockfolio interface changes and updates from time to time. The interface may look slightly different from the below screenshots, but the steps are exactly same!*
To add your current holdings to your account, this is how to do it, step-by-step.
Let’s assume we are holding 2 coins: Bitcoin and Ethereum.
1) Click “Add Coin”
Here, you can either click “Add Coin” or you can click the “+” symbol in the top right corner of the screen.
They both bring you to the same place.
2) Select The Coin You Want To Add To Your Holdings
Here is where you want to identify the first coin you want to track.
In this example, let’s choose Bitcoin.
3) Add The Transaction Details Of Your Cryptocurrency Purchase
Let’s assume we bought .5 Bitcoin on Coinbase using USD at a trade price of $6403.04 on November 4, 2018.
Select the trading paired used to purchase this specific coin.
Select the exchange from which you bought it from.
Identify the trade price at which you bought it at.
Identify the quantity you currently hold.
Select the date in which you bought the cryptocurrency.
Click “Save”
You should note that not all of these fields need to be accurate.
Most people use Blockfolio to simply view the value of their portfolio at any given time.
The only fields that really matter for this purpose are the trading pair, the exchange you bought the coin from, and the quantity you bought.
This is because you want to see the value of your holdings on the exchange in which you will make another transaction in the currency you will convert it to if you were to sell.
So the trade price and the date which you bought it are irrelevant for this purpose.
4) Rinse And Repeat With The Rest Of Your Holdings
You can now see your holdings of Bitcoin on your Blockfolio dashboard.
Now let’s add Ethereum to our portfolio to see how that looks.
Assume we bought 8 Ethereum on Cex.io using USD.
And that’s it!
Now we can see our total portfolio holdings all with the single click of a button on our Blockfolio dashboard.
This is extremely valuable.
Please note that Blockfolio allows for 1 portfolio at a time – it does not allow for multiple Blockfolio portfolios.
Though, this functionality wouldn’t be used by 99.9% of people, anyways.
Removing Coins From Your Portfolio
So now let’s say you sold some of your coins for a profit, and you want them to no longer be a part of your Blockfolio holdings.
This is how you remove coins from your portfolio.
In this case, let’s say we sold our 8 Ethereum.
Let’s remove them from our portfolio.
1) Click The Coin You Want To Remove From Your Holdings
Simply clicking on the coin will bring you to the next section.
2) Click The Trash Can In The Top Right Corner
3) Select “Yes” When It Asks If You Want To Remove This Coin
Read the message.
Once this coin is removed, it will be wiped from your portfolio.
4) Check To See If Your Portfolio Holdings Are Updated
In your portfolio dashboard, you should no longer see the coin you just deleted.
Simple as that!
Now that you know how to download the Blockfolio app, add money to your portfolio as well as remove assets from your holdings, you have all of the fundamental knowledge required to use this app in the ways in which it was built for.
This is exactly how you track you cryptocurrency portfolio.
There are a few other functionalities you can also use on Blockfolio, which you’ll quickly touch on below.
Other Blockfolio Tips, Tricks, And Functionalities
Let’s briefly discuss other functionalities of Blockfolio.
Blockfolio Signals
This section of the app puts you more closely in touch with the leadership team of the coins you hold.
Here, the team of each cryptocurrency can make announcements to their coin holders.
For example: recently, Oyster Protocol (PRL) was exited scammed by its founder.
The team created a Blockfolio signal to notify coin holders of what was going on.
This is a very valuable tool that can give you real-time information of your coins such as this.
My Portfolio – Blockfolio Charts
This section shows you the value of your portfolio over time.
It allows you to view your portfolio on a 1 day, 1 week, 1 month, 3 months, 6 months, or 1-year charts.
Blockfolio App
News
The news section is pretty straightforward.
It shows you the latest news articles in the cryptocurrency space.
Visit this section if you wanted to be kept up to date with the entire cryptocurrency market.
Alerts
Alerts allow you to create notifications when a certain coin hits a specific price.
You can set alerts for either a low price or a high price – it’s really up to you.
Let’s say I set an alert for when Bitcoin hits $15,000.
When this happens, Blockfolio will send me a push notification with these details.
It is a very valuable and underused tool in the app.
Getting Started And Using Blockfolio – A Conclusion
Blockfolio is an extremely useful and time-saving mobile app.
Blockfolio Application
It is perfect for people who constantly want to see the value of their cryptocurrency portfolio at a glance.
You can add your holdings, remove your holdings, track your holdings, and create alerts to notify you when to sell!
Blockfolio Trading
It truly is a great app for anyone with money invested in the cryptocurrency market.
Blockfolio App Windows 10
We hope this guide helped you understand how to use Blockfolio.