CoinLoop Review In-Depth | Portfolio Management Tool & Market Tracker
What is CoinLoop?
CoinLoop is a site and mobile App aiming to become a one-stop shop for crypto investors. In the companies own words ‘Instead of opening 10+ different tabs every morning, wouldn’t it be nice to just open one?’. The aim being to build a user friendly platform that integrates news from several outlets, events updates, portfolio tracking, trading analytical tools, market signals and more, all in one user friendly dashboard. There are both free and premium options available.
An easy to use portfolio management tool that takes features from market data sites like CoinMarketCap and portfolio trackers such as Blockfolio and integrates them into one platform, allowing you to easily stay on top of cryptocurrency market developments. It has a sleek interface with some great features, including a holdings tracker, news, Twitter & Reddit feed, TA charting tools, an events calendar and a machine learning bot to interpret signals and predict price movements.
- Sleek user interface is well designed, works seamlessly and is super easy to navigate. Includes useful tips on getting to know the different features.
- We found adding coins to your portfolio was a lot simpler than other management tools like Blockfolio or Delta. Plus there were many more options for what currency you want to display your portfolio in.
- Familiar table of all coins similar to CoinMarketCap is useful for keeping a general eye on the market, featuring metrics like price, market cap and trade volumes.
- Includes advanced charting tools for doing technical analysis.
- The calendar is a really useful feature for keeping on top of upcoming events like airdrops, announcements and conferences.
- Great feed integrating popular news outlets, Reddit & Twitter.
- Signals bot incorporates trade analysis with social metrics to give trade signals. You can also setup alerts for signals.
- Whilst adding coins was easier, there wasn't much in the way of portfolio analysis compared with alternatives. The only figure given was the 24h change, with no option to look at change over time or add specific buy/sell prices to track profit & loss for specific coins.
- The coins table is pretty much the same as CoinMarketCap, however it lacks the additional info you get if you click through to individual coins e.g. price and volume on different exchanges. You also cannot set the price chart to custom date ranges or view statistics like Bitcoin/alt coin dominance.
- There is only one report (see below) detailing the results from the Signals trade bot so far, and this was during a period when the markets were rallying. As such, the reliability is uncertain at this stage and we would be hesitant to trade off any signals without further evidence of successful calls. It would be good to see a follow up from the team! That said, Signals has been updated with a new Premium Intelligence paid option with more details provided.
- Calendar currently does not feature any ICO information, so it would be nice to see this included in the future.
CoinLoop is a sleek and feature rich platform that integrates different aspects of many other crypto sites into one tidy dashboard. There are already several useful tools currently available on the site, with the team planning to develop a great deal more in the future. Plus it is all currently free to use! Find out more in our detailed CoinLoop review below.
The Dashboard is the first thing you will see when you login. It is split into 4 sections, providing you with a snapshot of the cryptocurrency markets at any given time. The first section is a portfolio tracker, which allows you to list any coin to your holdings and track price movements over 1D, 1W, 1M, 1Y or All time periods.
The design of this section is super fluid and it is extremely easy to add coins to your portfolio. However, it is perhaps a little too simple, as there is no option to add buy/sell values in order to track your gains or losses. This is where more advanced portfolio trackers like Blockfolio currently have the upper hand, although the team plan to add more complex portfolio tracking in the future.
The second section displays the top 5 gainers and losers with a market cap greater than $50 million over either a 1H, 1D or 1W time period. By default, only the top gainer and loser are shown, however this can be toggled to show the details of the top 5. The drop down menu is a nice touch as it keeps the dashboard tidy.
The final section is split into two, Loop AI Signals – which we will go into more detail on below, and a compact news feed. The feed provides a well-rounded view of the markets as it incorporates news from multiple sources including popular outlets like CoinTelegraph and CoinDesk, as well as top posts from Reddit and Twitter.
AI Trade Signals
Previously just featured on the dashboard, Signals was recently moved into its own expanded section. But what is it? Simply put, Signals is a machine learning bot that gathers information on the markets to make predictions about whether to buy or sell specific coins.
The bot compiles data from multiple sources, including traditional technical price analysis as well as social signals. Since rising social signals have been shown to predicate Bitcoin price hikes, including them is extremely important. You can also sign up to be alerted on Messenger or Telegram whenever a new signal is released. We tried out the Messenger alerts and found it to be very useful.
Users are provided with a probability of a price rise or fall and what indicators led to the prediction. However, the time frame given is only ‘short term’, ‘mid term’ or ‘long term’, with no explanation of roughly how long these time periods relate to. This information is pretty critical when making trades, so it would be nice to see it included in future development.
So that’s how Signals works, but how accurate is it? Well, the CoinLoop team released an article reviewing their results so far, which also included improvements to the bot. The first iteration of the bot was purely based on traditional statistical analysis, which has its limitations in the crypto markets. The team then programmed the bot to measure and correlate social volumes with price changes. Combining this data with traditional TA greatly improved the accuracy.
That said, the report from the team was based on tests during the December boom where it was difficult to make a bad call as pretty much everything was pumping! Our observations have shown the short term signals to be accurate quite often, but is is difficult to make an assessment of any of the mid to long term signals without knowing any kind of time frame. Overall, we really like this feature and look forward to testing the Premium Intelligence option – more on this below.
CoinLoop Premium Intelligence Signals
After several months of refinement, the CoinLoop team recently announced the release of CoinLoop Premium. This paid monthly subscription gives access to all new features on the platform, most notably expanding the Signals section to include more detail and accuracy. There are also more signals on offer than in the free version.
If you are a day trader, this is a pretty invaluable tool as it incorporates social data as well as technical analysis, so can serve as a great companion to your existing methods. Our only minor criticism is that you cannot pay for the subscription with crypto! We are in the process of testing the CoinLoop Premium signals feature with one month of trades. Our results will be published right here, so return for updates.
All Coins List
This section has a similar look to what you might find on popular sites like CoinMarketCap and CoinGecko, listing information on all current coins including price, market cap, circulating supply, 24H & 7D percentage price change and trade volumes. You can also sort in ascending or descending order for any of these metrics.
Clicking on any coin will then bring up the chart of its price history, allowing you to view 1D, 7D, 1M, 3M, 1Y or All time periods. The design of these charts is a lot more stylish than the sites mentioned above and is very fluid when moving between different time periods. Our only suggested improvement here would be to add smaller time frames, such as 1H & 3H.
However, where it falls short of the competition is that there is no detailed view of trade volumes on different exchanges or for different trading pairs. This kind of information can be useful when you are researching the most liquid exchange to trade a particular coin. Therefore, at the moment CoinLoop is not quite the one-stop shop it is aiming to become.
This is one of the more recent additions to the CoinLoop platform, designed to keep users updated with the big events and news in the crypto space. As is the case across the whole site, the calendar is well thought out, intuitive and has great functionality. A short summary of each event is given, with an external link for more information and the ability to add the event to your own custom calendar.
Each coin is tagged with a category, which currently includes airdrops, announcements/news, burns, community events and meetups, conferences, exchanges, forks, partnerships, releases and more. You can also filter by coin type. Whilst there are tons of different filters, what it is currently missing is ICOs. Again, this is another reason why CoinLoop might not be the only site you make use of for crypto info.
Another one of the newer features to be added to CoinLoop, the Bitcoin futures section allows users to stay up to date with the price of CME and CBOE Bitcoin futures contracts. This is a simple and informative section, with nicely designed charts and some basic explanations for beginners.
As you might expect, the news feed section is quite simple, split into two tabs for news sites and social. The news section features the latest articles from popular crypto sites with a small synopsis of each and an outbound link to the full article.
The social feed draws content from Reddit and Twitter. It is not immediately clear how this feed works, but the Reddit section seems to feature posts from both general and major coin Sub Reddits and the Twitter section from a few select Twitter accounts.
However, the Reddit posts featured are not always particularly important or relevant, whilst the Tweets only come from two accounts and are quite meme dense. Given the importance of social signals in crypto, this section needs refining.
Technical Analysis Charts & Tools
The final section of the platform enables you to perform your own technical analysis on many different trading pairs for lots of cryptos. As you’d expect, the charts are well designed and fluid. There is also a useful tool for taking instant high-res snap shots of charts for use elsewhere. The inclusion of TA analysis really helps to complete the full CoinLoop package as you do not need to navigate off site for this.
One of our main criticisms that cae up in our CoinLoop review was at the lack of community aspect. It would be good to see the team develop a forum for discussing cryptocurrencies and trading, as currently users would have to navigate off-site to Reddit or Bitcointalk to do this. In order to complete the vision of a ‘one-stop shop’ for everything crypto, this would be an important addition.
It would also be nice to see the portfolio tracking features expanded on a little more. Whilst it is nice how simple and easy it is to set up tracking, it is not much use for assessing profits and losses. For a platform that only launched in November 2017, there has been some nice development and we look forward to seeing what the future holds. We will be sure to update our CoinLoop review with any new releases, so stay tuned!