CoinTracking: Ultimate Tool for Crypto Portfolio and Tax Reporting

CoinTracking is a comprehensive platform for tracking cryptocurrency portfolios and calculating taxes. It provides users with a detailed view to monitor the transaction history and current value of their Bitcoin and other cryptocurrencies, including real-time information updates.

CoinTracking can analyze users’ transaction history, calculate capital gains and losses, and assist in preparing tax reports. This platform supports a variety of cryptocurrencies and can directly import transaction data from multiple exchanges and wallets. Additionally, it offers various charts and statistical data to help users deeply understand their investment performance. CoinTracking is a highly popular tool, especially for those who need to manage a large volume of transactions and portfolios, as well as those looking to streamline their tax filing process.

What is CoinTracking?

CoinTracking is a pioneer in managing cryptocurrency portfolios, headquartered in Munich, Germany, with over 12 years of experience. The platform acts as a portfolio manager, managing all transactions and trades of digital currencies. In detailed reports, one can overview the current and historical value of trades, profit and loss (realized/unrealized), prices, trading volumes, etc. Moreover, CoinTracking also provides automatic functions that generate tax and capital gains reports for annual tax returns according to the standards and regulations of multiple countries.

With CoinTracking managing over 29,000 tokens and assets, people gain a platform to track all transactions across multiple exchanges and wallets, fulfilling tax obligations through an automated and simple method.

Transactions can be imported or entered automatically via API, manually via CSV, or individually. Due to the variety of available transaction types, CoinTracking not only covers simple buy and sell transactions but also many other aspects of the evolving crypto world such as mining, staking, airdrops, futures, interest, margin trades, etc.

Features on CoinTracking

Advantages

As a global player, CoinTracking has been providing support for tracking and managing cryptocurrency portfolios in over 100 countries since 2012. With over 1 million users, CoinTracking is a global market leader and cooperates with most tax advisors. Over 25,000 small businesses have a CoinTracking account, as well as 2,000 corporate clients, such as tax firms, fund managers, and trading companies, managing thousands of sub-accounts for clients and customers.

Over the past 9 years, more than 130 exchanges and wallets have been integrated into the platform, and the number continues to grow. Additionally, customers can use blockchain imports for individual currencies. For the remaining few cases, custom CSV or Excel imports are available to map all possible cryptocurrencies and transactions.

Those in need of more help can book our full-service package, where we go the extra mile for our clients, saving them time and effort. In this all-in-one solution, users can get the professional help they need to manage accounts and confidently submit cryptocurrency taxes. Our team consists of CoinTracking experts and qualified tax advisors to ensure all data is complete and cryptocurrency tax reports are accurate. We can assist with complex cryptocurrency transactions, full imports, answer cryptocurrency tax questions, and more. Users decide which tasks should be completed.

Disadvantages

Given the immense diversity and growing complexity of the crypto world, the challenge of unifying them on one platform while avoiding errors in transparent tax reporting arises. This is precisely where customers need to be diligent in setting up and maintaining CoinTracking. For example, those who trade on multiple exchanges but do not import transactions from one exchange will receive incomplete reports. For manually completed entries, inputs and outputs must be maintained according to double-entry bookkeeping principles.

To address this sometimes more complex setup, CoinTracking offers quick, free help through its support and guides customers through all the necessary steps. Additionally, automatic functions and checks (e.g., real-time API checks) are available to detect and correct missing or incorrect imports. Due to its diverse functionality, CoinTracking is mainly targeted at advanced and professional traders as well as companies. Of course, CoinTracking is also available for beginners, who can use the software for up to 200 transactions completely free of charge.

User Experience of CoinTracking

The platform has become user-friendly software through years of development and continuous customer feedback. On every page and with every feature, customers receive explanations and instructions. Additionally, detailed FAQs and support (24/7) are available.

In some areas, users can switch between compact and detailed views. Furthermore, people can use filters on all reports to precisely obtain the data they need. The mobile app provides another way to view data quickly and clearly.

Pricing

CoinTracking offers four different packages. For beginners and those who want to test it out, the free account can be used completely free of charge for up to 200 transactions. If the transaction volume exceeds 200 transactions and automatic API connections are required, users can opt for the Pro/Expert or Unlimited versions. The pricing for paid packages starts from $12.99 per month for the Pro version to $69.99 per month for the Unlimited version.

Opting for a 2-year package significantly reduces the price of the package (starting at $9.99 per month). Moreover, CoinTracking is the only one that offers the possibility to purchase a lifetime license with a one-time payment, allowing for perpetual use of the account. For corporate clients, such as tax firms, trading companies, fund managers, etc., CoinTracking offers an account-based pricing model, meaning unlimited sub-accounts can be created, with the price per sub-account becoming cheaper as the quantity increases.

On CoinTracking, users can view a detailed list of transaction limits, advanced features, and more.

Customer Support

CoinTracking places a high emphasis on support, relying on a global team of professional support agents to provide 24/7 availability. Support requests are usually answered within 4 hours. Currently, requests can be processed in German and English. However, the team is continuously growing, and more languages will follow.

In addition to support, documentation and FAQs are also important sources of information when problems arise. Recently, CoinTracking began offering video tutorials to explain reports and help solve issues. The FAQ is continually developed and includes all previously resolved support tickets, so the community can directly participate in knowledge transfer.

Payment Methods

Apart from common payment methods like credit cards, PayPal, and bank transfers, CoinTracking also accepts Bitcoin and over 50 altcoins, processed through payment services like crpyto.com and coin payment. For Bitcoin payments, customers can enjoy a 5% discount.

Service Offering

CoinTracking platform offers products/services to individuals and companies, such as tax advisors, tax lawyers, investment firms, and trading companies. They can manage multiple clients, employees, and team members.

The CoinTracking portfolio includes importing trades (automatically or manually), creating custom reports and dashboards, linking multiple accounts, manually generating backups, mobile apps, generating tax and capital gains reports, accessing prices for over 15,000 tokens and assets, and more.

Security of CoinTracking

Besides standard security measures such as data encryption and two-factor authentication, CoinTracking also has the advantage of being usable completely anonymously. Registration and use of the platform do not require personal data. If necessary, registration can even be completed without providing an email address. However, in this case, CoinTracking cannot reset the password if the user forgets it.

All API keys are encrypted and allow read-only access. This means that data can be read from exchanges, but no trades or payments can be made. Each user can create free backups of their CoinTracking data and restore them at any time if needed.

Bottom Line

CoinTracking is widely regarded as a highly useful tool, especially for those who need to track and manage their cryptocurrency portfolios and prepare tax reports. If you’re looking for a comprehensive solution to manage your cryptocurrency portfolio and prepare tax reports, CoinTracking is an excellent option to consider. However, whether or not to use it should be based on your personal needs, investment scale, and willingness to pay for advanced features.

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