As the panic started setting in among crypto traders, as they were overwhelmed with the sheer number of data points they needed to collect, Cointracking.info jumped to the rescue and swiftly became one of the best crypto tax tools on the market and the leading crypto tax software.. As a result of its subscription model, you can import historical data and receive a tax report for one year — or 13 years — for the same annual fee.
What is CoinTracking?
CoinTracking is a cryptocurrency tracking and tax reporting software that was the world’s first cryptocurrency tax reporting tool and portfolio manager when it was launched in 2012. The main reason for developing this software was to make the lives of crypto enthusiasts easier because it can perform a variety of services automatically. It is sufficient to import trading data via exchange APIs or CSV files.
This software analyses trades and generates real-time profit and loss statements, coin value realized and unrealized gains, tax reports, and much more. The tool supports over ten thousand assets with full historical data and tax reports for over a hundred countries. The total number of CoinTracking users has now surpassed 1,207,000 Active Users, 25,000 CPAs & Corporate Clients,Coin Trends for 21,221 Coins and $41.5B Total Value of all Portfolios
Benefits of using Cointracking
1. Trade imports
CoinTracking supports 110+ exchanges, wallets, and blockchains via API and CSV imports. It also supports 20 closed exchanges, including BitMarket and Cryptsy, and you can import your trades by uploading a CSV, or Excel if your exchange isn’t currently listed.
This software supports direct sync with the blockchain and allows you to export files in a variety of formats such as Excel, PDF, CSV, XML, and JSON.
2. Unrealised and Realised Gains
This shows the current unrealized and realized gains (or losses) for all the cryptocurrencies you currently hold. By default unrealized and realized gains are calculated using the FIFO (first-in, first-out) method, but you can change this.
It is extremely useful for monitoring the value of realized gains and keeping track of approximate capital gains obligations.
3.Creating tax reports
The tool allows for the creation of tax reports for over 100+countries, taking into account a variety of factors such as capital gains, income, mining, and so on. There are 13 different tax methods to choose from (FIFO, LIFO, AVCO, LOFO, HRMC, and others). There is also a tax export for CPAs and the tax office..
4. Trade Reports
One of the huge benefits of tracking everything using CoinTracking is the wealth of information that you can get from their dashboard and reports.
Because all your transactions are tracked in one place, you’re able to make better, more informed decisions about whether to buy/sell something (or do nothing).
5. Expert assistance
The tool gives users access to the tax laws of over100+ countries and allows users who are unable to deal with tax reports on their own to seek assistance from crypto tax advisors or order a report prepared by a representative of the Full-Service team. For beginners, there are also tutorials, video guides, and FAQs.
6. High level of security
The software offers data and API encryption, as well as 2-factor authentication you can also create and restore trade backups, as well as import any data from exchanges without giving them access.
Prices of Plans
Plans at CoinTracking range from $0 to $660 per year. Its free plan is limited to manual entries and CSV imports. While it can support up to 200 transactions, it can only generate a tax report for 100 trades. You must upgrade your account to get API integration and tax reports for all of your trades.
All new CoinTracking dashboard investors receive a free plan with up to 200 transactions, coin tracking, import of files up to 5 MB, only two manual imports, and two backups.
A desire to expand functionality leads to the selection of three paid (yearly) plans:
- $10.99 per month for Pro
It can handle up to 3,500 transactions, import files up to 20 MB, has 5 auto imports and unlimited manual imports, 5 backups, an API, and many other features.
- Expert – $16.99 for every 20,000 transactions, $21.99 for every 50,000 transactions, and $27.49 for every 100,000 transactions.
Despite the difference in transaction volume, all other aspects of this plan are the same. It allows you to import files up to 20 MB in size and has 10 auto imports and unlimited manual imports, 10 backups, an API, and many other features similar to the Pro plan.
- $54.99 per month for unlimited
It supports importing files up to 200 MB, 50 auto imports and unlimited manual imports, 20 backups, an API, a wider range of personal export formats, advanced tools, prioritized calculations, and support, in addition to an unlimited number of transactions.
Suitability
To benefit from CoinTracking solutions, you do not need to be a computer expert. Using the website could be a little challenging but has a drop-down menu for quick access to all functionality. It also supports a variety of light shades and is available in a variety of languages. There is a clear separation of services for individuals and businesses, as well as extensive tutorials and responsive customer support. There are also mobile applications for quick access at any time and from any location.
The software has received numerous positive reviews and is widely regarded as the most versatile in the crypto industry.
Customer service
- The CoinTracking app is available for both Android and iOS, allowing you to manage your accounts while on the go.
- Light, Dimmed, Dark, and Classic are the four modes supported by the website. It also supports ten different languages.
- You can personalize your dashboard using the various templates.
Reviews
Let’s go over what makes CoinTracking the best cryptocurrency reporting software and why you might be disappointed in some cases.
Pros:
- Support for a wide range of exchanges, wallets, assets, and countries
- Compatibility with mobile devices;
- The dashboard is simple, customizable, and easy to use;
- There are numerous guidelines for new users;
- Anonymity and security.
Cons:
- Paid plans
- The mobile app does not support all of the features available in the web version.
Conclusion
The main reason CoinTracking continues to be a market leader in the competitive cryptocurrency market is its functional versatility and continuous development. The team monitors current trends and tendencies and updates the product to meet the needs of cryptocurrency holders.
This cointracking.info review has confirmed its dependability and popularity yet again by focusing on the main features of a crypto portfolio manager. CoinTracking has been a trusted leader in crypto management and tax reporting for over 12 years and has no plans to relinquish its position. It has many advantages for crypto investors, but it may take some time for beginners to grasp all of the functions it provides.
