CoinTracking Review: Crypto Tool To Track Your Portfolio
CoinTracking, a leading crypto portfolio management platform based in Munich, Germany, has been revolutionizing the industry for over 9 years. The platform serves as a comprehensive portfolio manager, overseeing all trades and transactions of digital currencies. Users can access detailed reports that provide a comprehensive overview of their transactions, including current and historical values of profits and losses, prices, volumes, and much more. CoinTracking also offers an automatic function to generate tax and capital gains reports, ensuring compliance with the standards and regulations of various countries.
With the ability to manage over 15,000 coins and assets, CoinTracking provides a powerful platform for tracking transactions across multiple exchanges and wallets, while also simplifying the process of fulfilling tax obligations. Users have the option to import trades automatically through APIs, manually through CSV files, or enter them individually. The wide range of available transaction types covered by CoinTracking includes not only simple trades like buy and sell, but also more complex aspects such as mining, staking, airdrops, futures, interest, and margin trading, among others.
Some of the key services provided by CoinTracking include the import of transactions from over 130 exchanges and wallets, automatic import via APIs and blockchains, manual import through CSV files, customizable crypto reports, interactive charts, profit and loss audit reports, reports for realized and unrealized gains, short and long reports for tax-exempt or tax-deferred coins, and the ability to export reports in various formats such as Excel, PDF, CSV, and XML/JSON. CoinTracking also offers 12 tax methods, including FIFO, LIFO, and AVCO, to cater to different tax requirements. Additionally, the platform provides tax and capital gains reports for over 100 countries, making it a valuable resource for tax advisors and offices.
As a global leader in the industry, CoinTracking has established itself as the go-to platform for managing crypto portfolios in over 100 countries since 2012. With over 1 million users, CoinTracking has become the market leader and has built strong partnerships with tax advisors. The platform is trusted by more than 25,000 businesses, including tax firms, fund managers, and trading firms, which manage thousands of sub-accounts for their clients.
Over the years, CoinTracking has connected over 130 exchanges and wallets to its platform, with the number continuing to grow. Clients also have the option to import individual currencies via the blockchain using Blockchain Import. For cases that are not covered by the existing features, CoinTracking provides the option to import custom CSV or Excel files, ensuring that all possible cryptocurrencies and transactions can be accurately mapped.
For users who require additional assistance, CoinTracking offers a full-service option where their team of experts and qualified tax consultants handle all aspects of managing the account and filing cryptocurrency taxes. This all-in-one solution is designed to save users time and provide them with confidence in their tax reporting. CoinTracking’s team can assist with complicated crypto transactions, conduct full imports, answer tax-related questions, and more. Users have the flexibility to choose which tasks they want assistance with.
However, it’s important to note that CoinTracking does come with some challenges. Due to the diverse and constantly evolving nature of the crypto world, clients need to be diligent in setting up and maintaining their CoinTracking account to ensure accurate and transparent tax reporting. For example, if a user trades on multiple exchanges but fails to import transactions from one exchange, their reports may be incomplete. Manual entries must also be maintained according to the double-entry principle.
To overcome these challenges, CoinTracking offers fast and free assistance through its support team, guiding customers through the necessary steps. The platform also includes automatic features and checks, such as the Live API Check, which can detect and correct missing or incorrect imports. While CoinTracking is suitable for beginners, it primarily caters to advanced and professional traders, as well as companies. However, beginners can still benefit from the software with up to 200 transactions free of charge.
CoinTracking has invested in making its platform user-friendly by incorporating customer feedback over the years. Instructions and explanations are provided on every page and for every feature. The platform offers a detailed FAQ section and 24/7 support to assist users. Users also have the flexibility to switch between a compact and detailed view in certain areas. Additionally, filters can be applied to reports to obtain specific data, and a mobile app is available for quick and clear data access.
CoinTracking offers four different packages, ranging from the Free Account for beginners to the Pro/Expert and Unlimited variants for users with over 200 transactions and a need for automatic API connections. Prices for the paid packages start at $10.99 per month and go up to $54.99 per month for the Unlimited variant. Users can also opt for a discounted 2-year package or purchase a lifetime license for permanent account usage. Corporate customers can take advantage of an account-based pricing model, which offers cheaper rates for unlimited sub-accounts.
CoinTracking places a strong emphasis on customer support and ensures 24/7 availability through its team of professional support agents. Support tickets are typically answered within 4 hours, and the team is continuously growing to accommodate more languages. In addition to support, CoinTracking provides comprehensive documentation, video tutorials, and FAQs to address user questions and provide solutions. The FAQs are constantly updated to include previously addressed support tickets, allowing the community to benefit from shared knowledge.
CoinTracking supports various payment methods, including credit card, PayPal, and bank transfer. Additionally, users have the option to pay in Bitcoin and over 50 Altcoins through payment services like crypto.com and coinpayments. Customers who choose to pay in Bitcoin receive a 5% discount.
CoinTracking offers its products and services to individuals and companies, including tax advisors, tax lawyers, investment firms, and trading firms. The platform caters to their specific needs by allowing them to manage multiple clients, employees, and team members. The CoinTracking portfolio includes features such as transaction importing, customized reports and dashboards, account linking, manual backups, mobile apps, tax and capital gains reports, access to prices of over 15,000 coins and assets, and much more.
In terms of security, CoinTracking implements standard measures such as data encryption and two-factor authentication. One of its unique advantages is the ability to use the platform completely anonymously, as no personal data is required for registration. However, users who choose not to provide an email address will not be able to reset their passwords. API keys are encrypted and only allow read-only access, ensuring that data can be viewed but not traded or withdrawn.
CoinTracking prioritizes user data protection and offers free backups of users’ CoinTracking data, which can be restored at any time if needed.