If you are a crypto enthusiast, you often face the issue of having to keep track of the returns and losses from each coin that exists in your portfolio. Furthermore, evaluating your whole collection under one roof needs more than the typically excel sheets that were in use. The current digital ecosystem has allowed for the growth of digital ventures that aim to provide coin tracking applications for crypto investors. As of now, the crypto market has a massive influx of these applications with each developer looking to gain from the crypto boom. However, other developers are working to make the cryptocurrency scene better by offering free apps.
What is All Out Coin?
All Out Coin is a free coin tracking application available for both mobile and web users. The open source application is the product of a team of developers who sort to counter the challenges of system failure within the existing trackers. With their decentralized structure, All Out Coin will accommodate a proof of concept model to allow users to add new platforms or exchanges
How All Out-Coin works
There isn’t much information on how the coin tracker will work, so we would presume that it will entail the features and work of a typical tracking application but with a more sophisticated structure. However, there is insight on how a user can add an exchange within the decentralized structure.
To add an exchange, each user will first require to register on to the platform. Once authentication takes place, you can add the site to the list on the platform. If you exchange application, you can proceed with loading the necessary data about the transaction onto the platform.
Benefits of using the coin tracker
- Decentralized nature gives users control over their portfolio management
- Available for both mobile devices and computers.
- High level of security with extra encryption to safeguard your data.
- Open source
- Supports only three exchanges
- No support for manually added coins or wallets
- A low number of features
Is All-Out-Coin safe to use?
The platform’s developer claims to use a Secure Account Store for safekeeping of each user’s API keys. The key will only limit itself to view just to protect your account from unlawful withdraw permissions. However, all these sophisticated security features also have a downside especially when it comes to the developers. The project intends to sell the users data to cater for the operations.
That is a huge turn-off for any crypto investor who knows the value of his portfolio information. If so it happens the information lands on malicious individuals instead of crypto tracking app developers; then it could turn into a disaster. As such, I do consider the data selling as a security flaw since all platforms should be protecting their user’s data rather than selling it.
The All Out Coin tracker app is a relatively new platform within the crypto market. The portal has a long way to go judging from their current state of affairs. Whereas they have assured security, they do need to add a lot regarding exchanges, features, analysis, and updates. If you are looking for a tracking app for your cryptocurrency, this would not be an excellent application to select. There are more established crypto tracking apps with more content for their users.