CoinStats has integrated support for managing NFT collections. This makes it easy for avid collectors to rifle through their portfolios and sort out which digital tokens are winners and which might be worth selling. The platform also has a live-updating feed of the top NFT prices, so investors can observe the market’s performance in real-time.
Unfortunately, CoinStats is yet to integrate data from non-Ethereum (ERC-721) NFTs. While Ethereum’s blockchain accounts for approximately three-quarters of all NFT-related activity, competitors like Polygon and Solana also host NFTs. Support for chains will likely come as CoinStats develops its NFT tracking service.
CoinStats Midas is the platform’s latest offering and is yet to be released from BETA testing. It’s a data-powered notification tool that sorts through NFT buying activity and determines which wallets are best performing within a certain timeframe. Since the NFT explosion in 2020, new projects and collections are released daily – making it difficult for collectors to wade through all the options and find good investment opportunities.
CoinStats Midas parses public transaction data to find what it calls “Smart traders”—successful NFT investors who consistently make money. If enough “smart traders” begin snapping up an NFT, CoinStats customers will receive an alert presenting a buying opportunity.
CoinStats supports buying cryptocurrencies directly via debit card – with zero commission fees. Quite a few fiat currencies are supported for this feature, including AUD, GBP, USD, EUR, SGD, and CAD. There isn’t a massive range of digital currencies (about 25), but most major coins are represented – like ETH, BTC, USDC, BNB, and MATIC.
The buying process is simple – CoinStats connects customers to a third-party provider to conduct the transaction. The newly purchased crypto will be added to a user’s CoinStats wallet, which can be kept on the platform or moved into a non-custodial alternative.
A key factor in successful investing is staying up to date with relevant news. Digesting any important information quickly can help investors react to certain positive (or negative) situations before the market prices them in the news.
CoinStats addresses this with its elaborate news hub. The page is filled with stories – reminiscent of Instagram or Facebook stories – for each major coin. These stories lead to third-party articles on important news about that specific digital currency. The page also includes an algorithm that sorts the most popular news from social media in the past 24h, as well as CoinStats’ handpicked articles from the past day.
To be competitive in the market, a portfolio manager needs to be available on a wide range of platforms, and CoinStats’ versatility fits the bill. The tracker can be used on various platforms, including desktop browsers and browser extensions, as well as Android and iOS smartphones.
The mobile app boasts the same features as the desktop version, making it a powerful tool for managing a portfolio on the go. Of course, as phone screens are a bit smaller than computer monitors, the CoinStats dashboard may appear a little cluttered for some. Despite this, the mobile app has received near unanimous praise from its users, with an impressive 4.6/5 star rating on the Google Play store.
CoinStats has two account tiers: Basic and Premium. The Basic account is free and lets customers connect up to ten portfolios to their CoinStats account and track 1,000 transactions per month. This tier can access plenty of useful features, such as NFT management, buying crypto through third-party exchanges, and accessing the news hub.
The premium plan is intended for serious investors and includes many powerful tools to help users get the most out of their crypto trading experience. This account type costs $9.99 a month if purchased annually or $15.99 if paid month-to-month. The costs here are fairly cheap for a premium portfolio tracker.
Premium accounts can access high-level analytics of their portfolio performance, exclusive coin insights, custom alert notifications and browse the CoinStats platform ad-free. Importantly, users can connect an unlimited number of portfolios and track up to a million transactions per month.
Reviews and customers have suggested that, while CoinStat’s free version is suitable for some beginners, it isn’t a great option for more experienced investors. To get the most out of CoinStats, customers will have to pay for the premium version.
CoinStats continues expanding the platforms that can be integrated with its service. The website claims that 400+ platforms can be accessed through CoinStats. However, when clicking through the platform, it says CoinStats offers 70+ connections, which is solid without being fantastic. Some of the supported businesses, exchanges, and wallets include:
CoinStats has been operating for over half a decade without any major security incidents. Portfolio trackers can be a little intimidating to the security-conscious, as users must connect their private trading accounts to one platform. However, CoinStats uses API keys and addresses rather than login details to integrate wallets and exchanges. The company has no access to any of its users' funds unless they use the CoinStats trading or swap services.
Using CoinStats to buy/sell crypto isn’t necessarily riskier than using any other exchange – but if an account was to be hacked, the thief could potentially access multiple exchange accounts/wallets, rather than just one. Therefore, using CoinStats as a portfolio manager and trading digital currencies on other exchanges may be a good idea.
CoinStats has accrued an excellent 4.8/5 star rating on the review site TrustPilot from nearly 8,000 reviews. This suggests that customers are overall very pleased with CoinStats's live chat service. Although it isn’t quite 24/7, this is still an excellent feature that many businesses in the crypto world are still lagging on. There are also ample articles featured in the Help Centre to walk users through the most common questions and problems they may encounter.
Head over to the CoinStats web platform and select “Get Started” in the top right corner to begin the signup process. Users who have a Coinbase account can log in to CoinStats. New accounts can also speed up the registration process by using their Twitter, Facebook, Google, or Apple accounts.
Next, enter an email and password (if signing up with email). New users will be prompted to verify their email addresses before they can proceed. Once the link CoinStats sent via email has been clicked, customers can log in to their accounts.
The process is essentially complete. New accounts can begin adding integrated exchanges or wallets to their CoinStats portfolio and start tracking the performance of their crypto assets. Alternatively, customers can add manual transactions or portfolios if their platforms of choice aren’t supported by the CoinStats code.