CryptoCompare is your entry point into the digital asset space. The crypto tool shows Real-time and historical market data, indices, exchange benchmarking, research, guides and more.
November 2019: MVIS and CryptoCompare Launch the MVIS CryptoCompare Institutional Bitcoin Index to measure the performance of a Bitcoin portfolio priced on select exchanges.
What is CryptoCompare?
Cryptocompare is a data provider, which provides all the latest streaming pricing data in the world of cryptocurrencies. Moreover, Many Institutional and retail investors depend on this platform. Because it provides real-time, high-quality data spanning 3000+ coins and 150,000+ currency pairs globally. Charles Hayter and Vlad Cealicu co-founded CryptoCompare in 2014.
It brings innovative crypto products to market, due to strong partnerships with industry-leading institutions:
VanEck – The MVIS, VanEck’s indices division partners with CryptoCompare to deliver a suite of indices for cryptocurrencies.
Quandl – This is a recent addition of partnership. The Nasdaq/CryptoCompare Aggregate Crypto Reference Prices product provides Quandl, with minute-by-minute pricing data for the most liquid cryptocurrency markets. Quandl is the largest provider of alternative data for financial professionals.
Why choose CryptoCompare?
This crypto portfolio tracker allows you to add a portfolio from a variety of exchanges and wallets. From there, you can track a variety of information about the added portfolio. For instance, you are able to track the acquisition costs and the realized profit or loss. You can also track the total value of your holdings for all added coins. It also lets you track the change in profit and losses in the last 24 hours.
You are able to track the lowest and highest value, your portfolio has been as well as monitor the least and most profitable coins from your portfolio. It is possible to check the worst or best crypto in terms of the lowest growth and highest percentage growth.
Risk Analysis –
The crypto portfolio tracker also allows you to do some risk analysis by using a chart to show how much you have kept into exchanges. Also, you are able to know the risks because of exposure to hacking etc. You can also get the chart with information on which coins you are most prone to. Rather, you can know which coin price is likely to affect your total portfolio value the most. You can choose to have multiple coins with a similar percentage in the portfolio. This allows spreading the risks using the portfolio diversification theory.
Liquidity Exposure –
Cryptocompare Portfolio tracker allows you to track your liquidity exposure too. Here, you are able to know the risk you are at of not finding counterparty in case you want to close your open position. This is determined by calculating the “time until liquidation.” The app calculates the liquidation basing on the last thirty days average volume of a coin (versus the base currency of your portfolio) and the quantity of the coin you are holding.
You can also check your volatility exposure chart, which shows an overview of the price swings of your portfolio. Volatility is calculated from the last 30 days price changes returns and then annualized.
Also read on CoinGecko Portfolio Review
What services does CryptoCompare provide?
The crypto tool has developed a clear and concise user interface. You will get real-time data and historical data of any cryptocurrencies and exchanges on the platform. Also, the platform hosts reviews on various exchanges, cryptos,etc. that provides great insights to crypto traders.
This market section is frequently used by the crypto industry. It is further categorized into –
CoinList – Here, bitcoins and other cryptocurrencies are listed. One can find the current price of the crypto, it’s 24hr volume, etc. The section also hosts Forum and News to educate users about recent happenings in the crypto industry.
Top Lists – This section lists exchanges, wallets, ICO’s and other crypto-related data.
Research – Here users will find all the research guides, how-to’s, reviews, etc.
This section lists all the data like Historical, BeSpoke Solutions, Indices, etc. Traders can search and gain knowledge in all aspects of crypto from this section.
CryptoCompare has its own API for various purposes. The pricing of API differs for each user.
How does CryptoCompare Portfolio work?
Create CryptoCompare Account –
Creating an account on this mobile-friendly crypto tracking tool is done easily by clicking the Login/Register button at the top right side of the website. It allows for Google and Facebook login as well as email signup. After that, you do email verification.
Create CryptoCompare Portfolio –
Creating a portfolio is done by clicking the “Portfolio” button. You can also create multiple portfolios for your wife and children, for instance. You then select the base currency in addition to setting the name of the portfolio. After this, decide and tick whether it is a private/public/encrypted or unencrypted.
Add coins to Portfolio
The next process after the creation of a portfolio is to add in the coins you own or wallets on exchanges. Click the +coin button. ‘Pick a coin’ allows you to type your coin. If adding manually, enter the amount in the base currency of the crypto amount you own for a given type of coin. Then, add the buy price for the price with which you bought the cryptocurrency and price type, the date when you bought and some description.
Press the ‘ADVANCED’ tab where you add the wallet where the coins are added from the ‘A wallet’ of ‘An exchange’ buttons. This is not a compulsory section. Just add manually the name of the wallet or exchange.
What do I like about CryptoCompare?
This cryptocurrency portfolio tracking tool allows you to calculate income (i.e cryptocompare calculator) statements. The income is the cost and revenue of the sold positions within a period. Plus, you can calculate the realized profit or loss. You can even calculate your tax payable by adding local capital gains tax and tax-free allowance.
There is also the cash flow statement that allows you to check the cash inflows of your account within a given period.
- real live trading
- interesting graphs and charts
- graphs at top page
- lots of great information about Bitcoin and cryptocurrencies (great stuff for beginners)
- Time periods for graphs not clear. As a long-term trader, I’d like to see a longer time horizon on charts. Allow for annotations on the graphs/charts so I can post them to my friends
- too many exchanges are graphed. It’s fine to have prices for various exchanges, but you don’t need to graph them all. Just graph one, list others as an option to view (i.e. the most liquid market). Then if the user clicks on others, use JS or AngularJS code to switch to that graph.
- design should be minimalist. Yes, even financial sites. Not easy to do for trading sites, it’s truly an art form, but you can do it.
- less jargon. If we’re ever going to make Bitcoin or other cryptocurrencies available for the masses, we’ll need simple language to help them understand it better.
My opinion is CryptoCompare should consider having one version for first-time users and another for expert users. Re-organize the site so beginners see information helpful to them.
The market for beginners is obviously exponentially bigger than niche Bitcoin users. From a business standpoint, that is where the platform should be focusing their efforts.
The CryptoCompare app is available on iOS and Android, you can find the download links in the footer of the CryptoCompare.com website.
The platform has a chat support. Also, you can contact the support team through a form in the profile section. You can send an email to [email protected] to resolve all your queries.
Yes, Cryptocompare has an API to be integrated on your website. However, the commercial API comes with a basic cost of $ 79.99 / mo and more. The Free API can be used only for personal use.