Blockfolio is a cryptocurrency portfolio tracker and trading platform. This article will walk you through the steps of setting up your account, adding coins, and tracking them on the platform.
The blockfolio app tutorial is a full tutorial on how to use the Blockfolio app.
If you’ve heard a few stories of individuals who have made a lot of money from crypto trading, you may be interested in giving it a go. However, after some investigation and reading cryptocurrency guidelines, you discovered that there are thousands of digital currencies available, traded on hundreds of various exchanges with varying exchange rates. When you see this, you’re probably thinking, “How can anybody keep track of all of this?” You found Blockfolio via a Google search and are now unsure how to utilize it. To learn more, read this quick Blockfolio tutorial.
What is Blockfolio, exactly?
Let’s take a quick look at what Blockfolio is before we get into how to utilize it. Blockfolio is a cryptocurrency portfolio management tool. Portfolio monitoring isn’t a novel or unique feature of cryptocurrency trading. Stockbrokers have long kept a close eye on their holdings in order to understand how they behave and benefit from the ancient adage of “buy cheap, sell high.” Cryptocurrencies behave similarly to traditional currencies, which is how crypto portfolio monitors were created. They are software programs that enable you to keep track of the price of crypto tokens and determine whether to purchase or sell them.
What is Blockfolio and how does it work?
Blockfolio is a tool that collects and displays data. A portion of this data is collected by the app itself. It monitors the values of over 8000 currencies on several exchanges in real time and shows the prices for the coins that are important to you. You are responsible for the rest of the information. If you wanted to buy some Ripple (XRP) tokens using Bitcoin (BTC), for example, you’d input the details of the transaction (amount purchased, price, fees, etc.). This would enable the app to show you if this particular purchase is profitable or not in the long term.
Is Blockfolio a secure platform?
Blockfolio enables you to connect it to your cryptocurrency exchange accounts, allowing you to sync information about your transactions directly to the app. For security concerns, some individuals may be hesitant to give Blockfolio this level of access. But there’s nothing to be afraid of.
To begin with, connecting your exchange accounts is entirely up to you. You can keep track of your tokens without giving the exchanges access, but you’ll have to manually input every transaction data. Second, the app specifically requests that the exchange be linked using read-only keys, preventing the app from making trades or withdrawals. Third, none of your keys are saved on Blockfolio’s servers; instead, they are kept on your device. Finally, Blockfolio does not ask its users to provide any personal information.
To put it another way, Blockfolio is totally anonymous and secure.
The only possible security risk is that someone might get access to your phone and verify the value of your portfolio. Enabling passcode lock will prevent this. If you do, you’ll be asked to choose a four-digit passcode, which you’ll have to input every time you access the app.
Is Blockfolio the only cryptocurrency portfolio tracker available?
Definitely not. There are a few of Blockfolio options. Delta, CoinTracking, Crypto Compare, and Hodler are among of the more well-known names in this field. All of these are excellent tools for keeping track of your cryptocurrency holdings. To access all of their features, some of them, however, need purchasing pro editions. Blockfolio is totally free to download and use, with all of its features and a pleasant user interface. Users love both the iOS and Android versions of the app.
Now let’s get down to business with the Blockfolio lesson.
What is Blockfolio and how can I utilize it?
Installing the app is the first step.
Blockfolio is a free app that can be downloaded from the Apple App Store and Google Play for iOS (versions 9.1 or later) and Android (versions 5.0 or later). Blockfolio will download and install in a few minutes after you click “Install” and grant any required permissions, depending on your internet connection.
When you start the app once it has been installed, you will see the welcome screen. Swipe through the intro screens before tapping to begin using Blockfolio. Your first home screen will appear, with Bitcoin and Ethereum already displayed.
The three dots in the upper right corner will open a menu that will allow you to access the settings screen as well as several additional choices. Toggle between displaying your holdings as percentages or hiding your balances entirely, which are two handy choices accessible straight immediately.
Step 2: Fill in the blanks with your coins.
It’s now time to start entering the coins you own or wish to keep track of. It’s a pretty simple procedure. To begin, press the “+” button at the bottom. You’ll be sent to a page where you may add currencies and connect exchangers. Scrolling through the list isn’t the most practical choice since Blockfolio can monitor over 8000 distinct currencies. Enter the name or code of the coin you wish to add in the search box. In this case, I’d want to include EOS.
When the token you want to keep an eye on shows in the list, touch it and then the “Watch” button that appears.
That concludes our discussion. Your first coin has been added to your collection. Repeat the process for each coin you want to monitor, and they’ll appear on your home screen.
Step 3: Creating a Link Between Two Exchanges
This step isn’t required, but it may enhance your portfolio monitoring experience and is entirely secure, as I stated before. Blockfolio will not be able to trade or withdraw money from your exchange wallets if you link your accounts. The app will only be able to read and show your transaction history if you click this link.
Tap the “+” symbol at the bottom, exactly as you did when adding coins, to connect your exchange account. Some of the most popular exchanges, including as Binance, Bitfinex, Bittrex, and Coinbase, are immediately apparent, but there are many more. For a complete list, tap “show all.”
Let’s say you wish to connect your Bitfinex account to your PayPal account. The symbol will transport you to the relevant screen if you tap it.
To build the connection, you’ll need to supply both an API key and an API secret key. These keys must be generated on the Bitfinex website. After you’ve created them, you can either enter them in manually or scan them into Blockfolio using the QR code symbol. These keys must be set to read-only mode.
Tap “Add connection” after your keys are in the app. If the app detects that your API keys aren’t read-only, you’ll be prompted to update your key permissions on your exchange’s website. Your connection will be generated if everything checks out.
Step 4: Creating a transaction record
Let’s look at how to create a transaction now that you’ve entered all of your currencies and connected your exchanges. Assume you sold 4.3 EOS tokens on Poloniex to purchase some ETH.
Find EOS in your portfolio on your home screen and press the “Add” icon next to it. You’ll now be sent to a screen where you may choose the exchange where you made the buy, the trading pair, the token price, and other information. After you’ve finished filling out all of the fields, click the “Save transaction” button. Your holdings will be updated once you save.
For traders, Blockfolio may offer a wealth of information. You may view Market information and receive updates from two kinds of sources using the buttons at the bottom. The “News” button pulls data from a variety of crypto trading websites, and you can even choose which ones you want to see. “Signal” shows you information about the tokens you’re interested in, as given by the token’s developers. Finally, you can configure Blockfolio to send you an alert when the price of your tokens goes beyond or below the restrictions you specify. You might, for example, set Blockfolio to alert you when the price of Bitcoin climbs over $12,000 USD or goes below $8,000 USD.
Also see: What is the best method to pay out Bitcoin?
To sum it up…
With thousands of currencies distributed over hundreds of exchanges, cryptocurrency trading may provide a plethora of profit possibilities. However, keeping track of token values and trading opportunities may be difficult. Crypto portfolio trackers enable you to keep track of your trade information on the move and provide you alerts when new opportunities arise. A portfolio tracker is a must-have if you’re getting into crypto trading. And Blockfolio completes the task in a safe and effective manner.
We hope you find our Blockfolio user guide helpful!
If you have any queries regarding how to set up the Blockfolio app, please leave a comment below!
More information may be found at: How to Buy More Altcoins.
Blockfolio is a popular cryptocurrency portfolio tracker app. This tutorial will walk you through how to use the app and withdraw from it. Reference: how to withdraw from blockfolio.
Frequently Asked Questions
How do I use Blockfolio?
Blockfolio is a mobile app that can be downloaded onto your phone. Once youve installed it, you can use the app to view your portfolio and watch for any changes in price or volume of cryptocurrency.
How does Blockfolio app work?
Blockfolio is an app that allows users to track their cryptocurrency portfolio in real-time. Its used by many people who are interested in cryptocurrencies, but dont want to spend hours on end tracking prices and market fluctuations.
Can you buy Bitcoin on Blockfolio?
Yes, you can buy Bitcoin on Blockfolio.
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