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CryptoFolio Review – Low Subscription Prices, Slow Performance

Cryptocurrency trackers help you keep track of all your crypto assets. They are convenient because they combine data pulled from your crypto wallets, exchange accounts and other sources. With just a few clicks, you can find out how your entire portfolio is performing.

CryptoFolio provides a free solution for tracking cryptocurrency assets and also offers a comparatively inexpensive paid service for calculating what you owe in taxes at the end of the year.

Pros

  • Inexpensive subscription plans. The paid version of CryptoFolio costs less than similar cryptocurrency trackers.
  • Easy to use. Importing data is a simple process. You can connect all your accounts and wallets in under five minutes.
  • Good compatibility. CryptoFolio supports 2700+ crypto assets and over 30 exchanges.
  • Technical indicators. CryptoFolio supports Simple Moving Average (SMA), Exponential Moving Average (EMA), Relative Strength Index (RSI) and Bollinger Bands.

Cons

  • No tax form generation. CryptoFolio’s tax calculator only crunches the numbers for you. You have to fill out the actual tax forms yourself.
  • Slow performance. CryptoFolio was slow to respond when we tried to add data to our demo account, and then it didn’t display the new values.

What Is CryptoFolio?

CryptoFolio is a web app for tracking your cryptocurrency assets across a variety of different platforms. In addition to standard features like charts and price alerts, CryptoFolio can also calculate how much you owe in taxes.

Leadership team

  • Alistair McLeay – Co-founder, CEO. Alistair McLeay has started a number of businesses, ranging from a custom apparel web store to a cryptocurrency consulting service to a blockchain software development firm.
  • Reid McLeay – Co-founder, CPO. Reid McLeay co-founded a number of different New Zealand-based businesses with his brother.
  • Jevon Wright – Co-founder, CTO. Jevon Wright’s areas of expertise include open source software, enterprise software solutions and web development. She taught Information & Software Visualisation at the University of Canterbury.

Core Features

CryptoFolio’s main value proposition is that it provides a comparatively inexpensive way to calculate cryptocurrency-related taxes. The coin tracker is free and supports over 2700 crypto assets and 30+ cryptocurrency exchanges.

Portfolio tracking

Like other crypto portfolio trackers, CryptoFolio can import and sync data from a variety of popular cryptocurrency exchanges. Supported exchanges include Coinbase, Binance and many others. In addition, CryptoFolio can import data from mining pools like Bitminter and NiceHash.

CSV import/export

CryptoFolio’s convenient CSV import/export feature lets you easily transfer your information to and from other trackers.

2FA support

Recently, CryptoFolio added support for 2FA (Two-factor Authentication). This allows you to add an additional login requirement if you’re concerned about the potential of someone gaining unauthorized access to your financial data.

Tax information

Paid subscribers gain access to CryptoFolio’s tax calculator. The calculator outputs a generic form, which you can use to do your taxes. In addition to standard cryptocurrency exchange transactions, the tax calculator can also take into account mining and airdrop income.

API access

CryptoFolio provides extensive resources to developers who are interested in accessing CryptoFolio’s API. Trading APIs are popular among hedge funds and proprietary trading firms, but individuals with the necessary technical knowledge use them to set up their own trading systems.

Limitations

As mentioned above, CryptoFolio can’t generate IRS form 8949 and other tax forms. It only gives you the information you need to do your taxes yourself. In addition, the interface was slow and the dashboard didn’t update when we entered new values into our demo account.

Customer Support

CryptoFolio recently released a new feature that allows paid users to directly request support while logged into cryptfolio.com. In addition to direct messaging, paid users can contact the team via email.

If you don’t have a paid subscription, you can still obtain help by posting a question on the official CryptoFolio forum. In addition, free users can access CryptoFolio’s extensive knowledge base.

Mobile Apps

CryptoFolio has apps for Android and iOS. Neither app has any reviews. This is likely because both apps only recently emerged from beta. CryptoFolio announced the beta program for the apps a month ago.

Subscription Prices

CryptoFolio has three subscription plans: a free plan, a $30-per-month plan and a $75-per-month plan. Small discounts are available for those willing to pay for an entire year’s worth of service up front.

Source: CoinIQ

The free version of CryptoFolio is quite limited because it can only sync with three different sources and process five currencies. The $30 plan is suitable for most traders because it can sync with an unlimited amount of sources and currencies and process up to 1,000 transactions per month.

User experience

This view gives you a summary of your portfolio. Balances appear on the top right. Those values populate the graph on the top left. A box on the bottom left side of the screen displays the same information in the form of a pie chart. The box to the right of the pie chart displays the BTC and USD value of your portfolio.

Source: CoinIQ

Scrolling down reveals additional charts. You can add additional charts by clicking the Add chart button.

Source: CoinIQ

If you drill down further, CryptoFolio reveals some useful information. Clicking on a cryptocurrency brings up a chart that tells you the current price of the selected coin. Various popular crypto exchanges are used to populate the price form. This form can be used to identify potential arbitrage opportunities.

Source: CoinIQ

Even free CryptoFolio users can set up alerts. Alerts let you know when a market or your entire portfolio dips below or rises above a certain value.

Source: CoinIQ

The Historical Data section of the interface is an excellent resource for comparing various cryptocurrency exchanges. Few other cryptocurrency trackers provide this kind of data.

Source: CoinIQ

Final Thoughts

CryptoFolio provides some interesting views of what’s going on in cryptocurrency markets. There aren’t many other cryptocurrency trackers that let you compare the various cryptocurrency exchange markets, for example. Another nice thing about this tracker is that it charges less than what other trackers charge for tax calculation services. However, these benefits are overshadowed by CryptoFolio’s slow, buggy interface. If CryptoFolio’s developers fix those issues, it could be very competitive.

Alex Munkachy

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We maintain strict editorial standards and our recommendations are in no way affected by these commissions.  We do not compromise on our critical approach for any product, service, person, or company.

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