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LiteBit app, CoinCompare, Listings, Ups, Downs, and..

In this Buzz we recap a couple items from previous month. Subjects as the new LiteBit app, CoinCompare, Crypto listings, the top 5 ups and downs and of course the recurring best deal broker of the month announcement. August was quite boring frankly, Bitcoin didn’t do much, Libra news is as is, not a lot of listings, minor updates, etc. Let’s hope that September has more to show than August.

Poking bitcoin to do something
Source: Giphy.com

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LiteBit app review

A group of students that just wanted to buy Litecoin with Euro’s in 2012, but it was too hard. Result? LiteBit (combination of Litecoin and Bitcoin) was born, the first large broker in the Netherlands. Seven years later, with offering over 40 crypto’s, they come with a surprise at the end of August! They finally released their own app. At release the app is only available for iOS and will be released later for Android as well. For Windows it is not known yet.

The LiteBit app competes with Coinmerce, BitMyMoney and BLOX on Dutch soil. The BitMyMoney app is more focused on being a crypto wallet for payments, not for doing trades. Therefore, not a direct competitor.  The prices of BLOX are not tracked and we do not compare them on CoinCompare. Therefore, BLOX is not used as reference. We’ve tried the new LiteBit app of course and here’s what we think about it.

Installation

Version 1.0.0 has been released two weeks ago – at the time of writing – and not later 1.2.0 was released as shown in the version history of the App store, which is currently the latest version available. Although, in the app it is showing version 1.2.1, what makes it confusing which version is installed. The language of the app is determined by the language setting of your phone. Our settings are in Dutch therefore the pictures below are in Dutch as well. The language cannot be changed manually in the app itself.

Before the app can be used, your iPhone needs to be linked to your LiteBit account by login in and using the Authenticator. Don’t have an account yet? Create one here. Linking your phone is a fast, easy and steady process and doesn’t take longer than five minutes. Then verify your phone with an email received code. Enter the code and you are able to determine a five digit login code. Along the way you get the option to use finger print ID or Face ID in your settings. A must on the security options. After that, you can trade away!

Design and functionality

On the bottom there are three options; Wallets, Market and Account. On the top of the app there are option related choices. In Wallets you can check your owned crypto, values and the combined value of your portfolio and see your order history. From Wallet it is also possible to buy and sell the crypto of your liking. In the Market overview you are able to see all offered crypto’s, popular crypto’s and you are able to customize the overview by marking your favorites. The crypto’s are alphabetically ordered by the names of the crypto’s.

Tap on a crypto of your choice for more details as in the graph by the hour, day, week, month or year, the high and low of that day, 24 hour difference and your balance. The overview of the Market looks clean, doesn’t scream BUY and is OCD proof. If the text and the digits are too small, than there is a possibility to change the format on how the crypto’s are sorted. We prefer the tiles, as you can see more different crypto’s on your screen.

LiteBit app with Wallet and cryptocurrencies shown LiteBit app Market overview with cryptocurrencies LiteBit app with a Bitcoin graph and price LiteBit app Account overview with settings and options

Settings

In Account you can check your personal record, but cannot change anything yet besides the face ID functionality in the Beveiliging (Security) menu. The remaining menu’s will either show a lot of information about privacy etc. or redirect you to their website. For example, when you need to verify a payment method or need some support. We think that the re-directions will be removed in the future and all the information can be found in the app.

LiteBit is really striving to improve the app and need your help as user. Go to Account and give your opinion and experience through the ‘feedback’ button. Your feedback is what helps LiteBit improving the app for the sake of improving your experience in the future.

Conclusion

Pros
Cons
Easy to use Language cannot be changed manually
Clear and smooth design No stop limit setting
Excellent security No tilting support
Add favorites to overview Verifying payment methods outside the app*
Didn’t crash once Missing information of the crypto’s in Market
Functional, as it does what it needs to do Personal records cannot be updated in the app
No possibility to buy LiteBit Credits*
Tron wallet not supported
Small portfolio crypto in compare to Coinmerce

*Announced to be available in the next update.

We like the LiteBit app as it has great potential, with some more TLC (Tender, Love, Care) it will become one of the best Dutch broker apps out there. Give it a try and don’t forget to tell them what you think!
In general we are happy that brokers are slowly moving on to the mobile market to ensure the “on-the-go-traders” can trade anytime, anyplace, when they want and how they want. Next to Coinmerce, BLOX and LiteBit we expect that other competitors will also release an app in the near future.

CoinCompare

In July we happily introduced our new graphs. The graphs are built and set-up by the information that we retrieve and save from the brokers. Unfortunately, due to adding more and more crypto on the homepage it is taking its toll on the website. We’ve noticed that it is currently under going heavy loading time on the mobile website due to these graphs. We are looking into it to find a suitable solution. Apologies for the inconvenience.

Crypto listings and top 5 ups and downs

Crypto comes, crypto goes, price goes up, price goes down. A trader called Peter Brandt with over 304.000 followers, recently claimed that besides Bitcoin, Litecoin and Ethereum “99% of other cryptos will be forgotten five years from now” and even calling the altcoins a “junkpile“.

Below an overview of which crypto’s has been listed and delisted in August. Keep in mind that we focus on the listings of crypto’s where we compare the prices of. If possible, we track incomparable (de)listings as well.

Listed
Delisted
Knaken: Ankr (ANKR), UTRUST (UTK)
Bitladon: Chiliz (CHZ), Dragonchain (DRGN)
Coinmerce: Ankr (ANKR), Aurora (AOA), COCOS (COCOS), Contentos (COS), GoChain (GO), LockTrip (LOC), Maker (MKR), Open Platform (OPEN), UTRUST (UTK)
Coinbase: Tezos (XTZ)
Knaken: BitBay (BAY), BitSend (BSD), Cloakcoin (CLOAK), TransferCoin (TX)
Bitladon: BitBay (BAY)
Coinmerce:
LiteBit: BitBay (BAY)
Coinbase:

As of writing the total amount of unique and comparable crypto, per the largest brokers and exchanges, are as following in compare to previous month:

Knaken 242 (+3)
Bitladon 192 (+1)
Coinmerce 141 (+12)
Bitvavo 58 ()
LiteBit 56 (-1) Currently under going maintenance and therefore less crypto’s are visible. Among them are Monero, NEM and Zcash.
Anycoin Direct 25 ()
———————————
CoinCompare 170 (-1)

We started August with 171 crypto’s and ended with a minus 1, resulting in 170 different crypto’s on our unique one page price comparison overview.

Ups
Downs
Wanchain (WAN) +30.84% Spendcoin (SPND) -72.52%
Matic Network (MATIC) +12.18% BitBay (BAY) -61.43%
Metal (MTL) +11.32% COTI (COTI) -56.63%
MaidSafeCoin (MAID) +8.84% Red Pulse Phoenix (PHB) -55.59%
Everex (EVX) +7.87% GXChain (GXC) -54.89%

Best deal broker of the month

And as final, the announcement of CoinCompare’s best deal broker of the month. Please read the disclaimer below the trophy to understand how the best deal broker is determined. Here are the winners of August:

#3: Bitladon! The second largest broker from the Netherlands, based on the amount of crypto they offer. 27 of those are unique in compare to their competitors. Meaning 165 buy prices and 165 sell prices are comparable and tracked via CoinCompare. From 74 entries and a 21.51% share in July to 52 entries and a 15.20% share. A loss of 6.31% which makes us question if they are going to move out the top 3 in September?

#2: Bitvavo! The cheapest broker in the Netherlands for the crypto’s they offer! Unfortunately, they provide less crypto’s than some competitors and therefore miss the gold of the number one spot! Still, a great come back in compare to July from 77 entries and a 22.38% share to 103 entries and a 30.11% share. A raise of 7.73%! Keep enriching the portfolio and who knows Bitvavo might become #1.

#1: Coinmerce! There can be only one! From 150 entries and a 43.60% share to 142 entries and a 41.52% share. 2.08% less then July. Still ahead of every competitor and again number 1. Their secret? Nobody knows. What we know is that they have low commissions, wide variety of crypto’s and 20 of them are unique (not comparable) and have one of the most accessible support making them the best deal breaker of the month August. Congratulations Coinmerce! See you next month?

Broker of the month at CoinCompare

 

 

 

 

 

 

 

 

The best deal provider of the month is determined independently with the average of cumulating buy and sell prices of all the best deals that are shown on our homepage. Logically, the larger the variety of crypto offered, the most chance of becoming the winner. In the end it is still the price of the crypto that matters as it has to be comparable. Discounts in Tiers and VIP levels are not included in the calculation. As deals change several times a day, due to the volatility of prices, the broker with the best deal can therefore change as well. Due to that fluctuation we take two snapshots per day to the determine the broker for that day with the most entries on our main page of our website.

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