- >Best CryptoPortfolio Trackers
- >Altpocket Review 2021
- Create a social crypto trading profile and interact with other traders
- Follow tips from the top traders on the platform
- Import your trades from major exchanges
- You can download this crypto portfolio tracker for free
Create a social profile for your crypto portfolio account
Follow the decisions of other traders
Automatically import your trades from popular exchanges
This app is free
Available on mobile and desktop
Some crypto traders may have privacy issues with the social element of Altpocket
Could also just use Twitter
Extremely limited number of crypto exchanges supported
Relatively small user base despite focus on social functionality
Best Features of Altpocket
Most Altpocket reviews revolve around the social aspects of the crypto portfolio tracker application. In fact, the normal features that you’d expect to find in a crypto portfolio tracker are somewhat limited in this app, so the social features are needed just to make up for some of the shortcomings found in other areas.
The best feature of Altpocket is the social feed, and this is the main selling point of the app. This social feed looks pretty much like what you would see if you’re using to scrolling through Facebook or Twitter throughout the day, although there are a few tweaks to the usual layout to create a greater focus on crypto trading. The social feed is the main component of the app, so it’s what you see when you open the app every time after you’ve created your account.
There are two main version of the social feed, known as public and personal. The public version of the feed is all of the posts being made on Altpocket at any time. This is usually the best feed to follow if you’re mainly interested in seeing what is trending in the overall crypto trading community. That said, users will also get a different form of value out of the personal feed. This is more like a traditional social media feed where you’ll only see posts from people you follow on Altpocket. The personal feed allows you to find like-minded traders who are interested in the same sorts of coins and crypto tokens as you, that way you can get a more relevant data stream coming at you whenever you open the app. Users are able to like and comment on posts made in either of the social feeds, just like they would on Facebook or Twitter.
Altpocket’s Exclusive Toplists
Another key aspect of the Altpocket app is known as Toplists. This section of the app will allow the user to view three different kinds of lists: Best performance, Most followed, and Most followed coins. The Best Performance list lets users see which traders on the app have had the most successful trades over specific periods of time. Users are able to see who has made the most money with their crypto trading over internals of one week, one month, and three months.
Other filters can also be used to narrow down the leaderboard of best Altpocket traders to the user’s specific liking. The Most Followed list allows users to see which Altpocket traders have the largest followings on the app. While the Best Performance list is useful for seeing who has been successful over the short term, the Most Followed list may give a better indication of who people should be following over the long term. Traders who are able to garner large followings tend to have a good reason for earning all those followers in the first place. Finally, the Most Followed Coins list is a good indicator of which coins are trending right now, as users can track the growth of users tracking coins over specific time intervals. Users can also see the total number of followers each coin has on this list.
A final feature of Altpocket that is worth mentioning is the ability to get notifications of other users’ activity on your phone. The most useful version of this functionality is that users are able to get a notification any time a specific crypto trader makes a trade. In other words, Altpocket makes it extremely to first find successful traders and then copy their trades as quickly as possible.
What Cryptocurrency Exchanges are Supported?
One of the key downsides of Altpocket is its general lack of exchange support. While alternatives like Blockfolio are known to have varying degrees of support for more than 500 different exchanges, Altpocket currently only supports 8. The reality of the matter is actually even a bit worse than that low number makes it sound, as some exchanges are effectively counted double, as they are just different versions of the same platform. Here is a complete list of the exchanges supported by Altpocket:
Of course, you can always add trades to your portfolio manually too, but this sort of defeats the main purpose of the app, which is to share confirmed trades with other users. If a traded is added manually, then there is no way for the app to verify that it’s a real trade that actually took place on an exchange.
Is Altpocket Safe?
While Altpocket has limited support for tracking your trades automatically, a key benefit of this setup is that the app is also a bit more safe and secure. In terms of losing funds, you’d have to actually give an app access to your private keys or exchange passwords for something to go wrong. Altpocket does not support trading from within the app, so there is no reason for users to give this crypto portfolio tracker full access to their exchange accounts.
Having said that, there is still one key situation where something could potentially go wrong with this app. Whenever you add an exchange connection to a crypto portfolio tracker, you complete the process through the use of an API key. This API key lets the app look into your account whenever it wants so it can automatically keep track of all your trades. In the case of Altpocket, the app just wants to look at your trades and not actually make any transfers on your behalf; however, you need to make sure that the settings on any API key generated in an exchange account also agree with this policy. This means that you want to turn off the ability for an API key to be used for things like trading and cryptocurrency withdrawals. If these optional attributes of an API key are not turned off, you could still end up losing funds in a situation where someone gains access to the API key you use for Altpocket or Altpocket itself gets hacked.
Supported Operating Systems
Altpocket is supported on all of the different platforms you may use for your crypto trading activities. This includes Windows, MacOS, and Linux on desktop computers and Android and iOS on mobile devices. The key benefit of being accessible on all platforms is that your trading data in your Altpocket accounts will be automatically synced between all of your devices.
While the social feed is a key selling point of Altpocket, this crypto portfolio tracker is lacking in a variety of other key areas.
The biggest dealbreaker for most of the potential Altpocket users is the lack of extensive exchange and crypto asset support. There are currently only eight exchanges supported by the app (and that’s being generous with the count), although the developers behind the project do intend to add more exchange support in the future. The real issue with the relatively small number of exchanges supported by the app is that it leads to a lack of overall cryptocurrency support as well. After all, you’re only able to automatically track your holdings in the cryptocurrencies available for trading on exchanges supported by the Altpocket app.
Another potential dealbreaker with Altpocket is that there is no ability to trade from within the app. Although exchange integrations are supported, this functionality is available on a view-only basis. With Blockfolio, for example, users are able to trade directly from within the crypto portfolio tracker, with trades happening on FTX in the backend.
Another factor to consider is that Crypto Twitter is already a rather popular phenomenon in the crypto trading community. The network effects around Twitter (and Telegram groups as well) are already rather strong, and it’s difficult to see a reason why a large percentage of social traders would decide to move over to this new platform. There is also chatroom functionality already included in a few other crypto portfolio trackers.
One last potential dealbreaker to consider is the lack of privacy that comes with using Altpocket. Yes, the entire point is to share your trades with other users on the app, but some people simply aren’t interested in sharing this sort of data with others. Other crypto portfolio trackers can be used to keep your trades to yourself.
Altpocket Frequently Asked Questions
The developers behind Altpocket have created a bot that makes it easy for Discord users to get access to information about the crypto markets from within their own servers. Discord users are able to use a variety of commands in text chat in order to get the latest news regarding a particular coin or just the current price of a token. Users are even able to see the current price of any cryptocurrency in terms of any other fiat current or crypto asset.
You will not find many people who prefer Altpocket over Blockfolio. Blockfolio really has a stranglehold on the crypto portfolio tracker app market, and the fact of the matter is their dominance is only likely to increase after being acquired by cryptocurrency exchange FTX. In terms of everything from features to the number of cryptocurrencies and exchanges that are supported, Blockfolio is much better than Altpocket. Most users would be better off using Blockfolio for tracking their crypto holdings and something like Twitter or Telegram for social interactions around the crypto markets.
To follow another users’ trades on Altpocket, you just need to follow their account. The process is similar to following someone on Facebook, Twitter, or any other form of social media. You just need to navigate to the user’s profile page, and you will then be able to click the “+ Follow” button to follow that user. In addition to following individual users from the Altpocket app, you can also get notifications on your phone every time those users make new trades.
Yes, Altpocket is a free app. There is a premium version of the app that is currently in development, but it is not yet available.
Altpocket did not hold a traditional ICO. Instead, the developers behind the app raised money by doing a presale of lifetime premium subscriptions for a future version of the app. The development team behind the project raised $62,000 during this endeavor by selling premium subscriptions to 500 different people. Eventually, the developers also raised another $140,000 from early cryptocurrency adopters.