CoinStats Review

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Managing cryptocurrencies across a range of different platforms can be a difficult task. This is where a crypto portfolio manager like CoinStats comes into the frame. CoinStats enables investors to easily access and stay on top of their assets in real-time. However, CoinStats is not the only crypto portfolio tracker application in the market. This CoinStats review assesses its pros, cons, features, security, and customer support, to help potential users decide if the app is right for them.

Our Take

4.5/5

HedgewithCryptoScore

Bottom line:

CoinStats is one of the most successful and trustworthy portfolio managers in the industry. It has a great reputation for security and customer service and is constantly bringing in new, innovative features. The support for NFT portfolios, in-house earning protocols, and the new “Midas” program are all great services that make CoinStats in the top echelon of money trackers.

There are some downsides – CoinStats doesn’t have the widest range of supported exchanges and wallets, and its free version is lacking in utility compared to its paid version. However, these are minor grievances when considering the overall proficiency and value the CoinStats platform provides.

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Trading Fees:

N/A

Currency:N/A

Country:Global (USA allowed)

Promotion:

None available at this time

Pros and cons

• One of the most powerful portfolio trackers on the market
• Liquidity mining available for passive income generation up to 20% APY
• Support for NFT management across various exchanges
• Solid compatibility with most major platforms, exchanges and wallets
• Renowned for its top-tier security measures

• Some of the best features are hidden behind a paywall
• The dashboard can be a little cluttered for mobile and desktop users
• Certain well-known Bitcoin wallets are lacking native support and can’t be integrated

CoinStats Compared and Alternatives

Exchange	Crypto Assets	Trading Fees	Rating	Promotion	Website	Review
Coinigy	5,023	N/A	Rating 4/5	None available at this time	Visit Coinigy	Coinigy Review
Shrimpy	Varies based on connected exchange	None	Rating 3.8/5	None available at this time	Visit Shrimpy	Shrimpy Review
Coin Market Manager	Varies Based on Exchange	Varies Based on Exchange	Rating 3.5/5	None available at this time	Visit Coin Marke...	Coin Market Manager Review

CoinStats At A Glance

CoinStats is a powerful and intuitive portfolio tracker and manager that allows investors to view their portfolio’s performance across various centralized and decentralized platforms. It creates a streamlined, all-in-one dashboard where crypto holders can easily manage their assets without needing to visit 10+ different web pages.

Customers can link accounts to CoinStats, set up instant portfolio notifications, and analyze the performance of specific assets/wallets. Some compatible exchanges allow users to directly trade digital currencies from the comfort of the CoinStats landing page.

CoinStats was founded around the same time as the altcoin explosion in 2017. The business was founded by Narek Gevorgyan and its headquarters are based in Yerevan, Armenia. The platform boasts over 1 million active monthly users according to its Twitter page.

Review of the Top Features on CoinStats

CoinStats is first and foremost a portfolio tracker, and to succeed in this space, it must support a large range of crypto-related platforms. The website claims its service can integrate over 400 different wallets and exchanges, including Coinbase Pro, Binance, CoinSpot, Trust Wallet, and even “cold” hardware wallets like the Ledger Nano.

However, the number of apps that can be directly integrated into a CoinStats account is more like 70 – users can add manual portfolios if their desired platforms aren’t compatible. The platform is particularly friendly to the Ethereum ecosystem and any related ERC-20 tokens or decentralized apps (dApps).

The performance of a user’s entire portfolio can be instantly viewed in the CoinStats dashboard. The platform can also break down the trends of specific holdings. For example, users can compare how their staked digital currencies are earning compared to those being held in a crypto savings account.

CoinStats is rather unique as a portfolio tracker that offers customers the ability to participate in DeFi liquidity mining. Navigating DeFi protocols to find the most efficient offers can be confusing, especially for beginners, so CoinStats does this automatically. The platform cycles through four supported platforms – M-Stable Polygon, M-Stable, Yearn Finance, and Lido.

CoinStats once offered APYs of nearly 20%, however, this figure has dropped significantly since. Most users can now earn a solid rate of 4-6% on major assets like Ethereum and Polygon. Overall, CoinStat’s earning product is a decent option for those wanting an easy way to generate passive income.

Want to earn interest? Read our list of the best places to earn crypto interest.

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 different 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 that are consistently making 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. There are quite a few fiat currencies supported for this feature, including AUD, GBP, USD, EUR, SGD, and CAD. There isn’t a massive range of digital currencies on offer (about 25), but most major coins are represented – like ETH, BTC, USDC, BNB, MATIC.

The buying process is simple – CoinStats essentially 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. Ensuring any important information is digested quickly can help investors react to certain positive (or negative) situations before the market prices 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 pertaining to 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.

CoinStats App Review

A portfolio manager needs to be available on a wide range of platforms to be competitive in the market – and CoinStats’ versatility fits the bill. The tracker can be used on various platforms – desktop browsers and browser extensions, as well as Android and iOS smartphones.

The mobile app boasts most of 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 Pricing

CoinStats comes with two account tiers – Basic and Premium. The Basic account is free and lets customers connect up to ten portfolios to their CoinStats account, as well as 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 a slew of powerful tools to help users get the most out of their crypto trading experience. This account type comes in at $9.99 a month if purchased annually, or $15.99 if paying 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 Supported Exchanges and Wallets

CoinStats is continuing to expand 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 instead says CoinStats offers 70+ connections, which is solid without being fantastic. Some of the supported businesses, exchanges, and wallets include:

• Binance
• MetaMask Wallet
• CoinSpot
• Coinbase
• Trust Wallet
• Bitcoin Wallet
• Ledger Wallet
• Crypto.com
• Exodus Wallet
• Nexo
• Kraken

Is Using CoinStats Safe?

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 need to connect their private trading accounts to the one platform. However, CoinStats uses API keys and addresses rather than login details to integrate wallets and exchanges. The company itself has no access to any of its user's 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, it may be a good idea to use CoinStats as a portfolio manager and to trade digital currencies on other exchanges.

CoinStats Customer Service

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 the service CoinStats provides through its live chat. 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.

Getting Started With CoinStats

Head over to the CoinStats web platform and select “Get Started” in the top right corner to begin the signup process. Users that have a Coinbase account can actually use it to 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.

Final Verdict and Ratings

CoinStats is one of the most successful and trustworthy portfolio managers in the industry. It has a great reputation for security and customer service and is constantly bringing in new, innovative features. The support for NFT portfolios, in-house earning protocols, and the new “Midas” program are all great services that make CoinStats in the top echelon of money trackers.

There are some downsides – CoinStats doesn’t have the widest range of supported exchanges and wallets, and its free version is lacking in utility compared to its paid version. However, these are minor grievances when considering the overall proficiency and value the CoinStats platform provides.