CoinTracking was developed in 2012 as the first cryptocurrency tax and portfolio management software. This cryptocurrency platform provides tools and services to help users navigate the cryptocurrency market, tax rules, and their cryptocurrency holdings. CoinTracking offers a variety of reports and services for seeing all crypto data and creating tax reports, as well as additional tax reporting capabilities that customers may use for their digital currency portfolio. Learn more about this crypto tax service in our complete CoinTracking review.
- Excellent portfolio analytics
- Tons of supported exchanges, wallets, and blockchains
- Free plan option
- Aesthetic charts and graphs
- Slightly limited tax services compared to competitors
- Focus on BTC (neglects altcoin data/services)
- Somewhat challenging user interface
CoinTracking was founded in 2012 as the world’s first crypto tax software and portfolio managing software.
CoinTracking is German based and compliant with the German income tax act, among other German tax declaration laws, but it is also designed for US tax laws and can be customized for other countries.
The CoinTracking platform has a full suite of tools and services to view and manage all your crypto trades and tax obligations under one roof by linking countless supported exchanges, wallets, and blockchains.
Whether via its tax report selection, trade statistics, or market analytics, CoinTracking has tools and services to help users navigate the crypto market, tax laws, and their crypto portfolio.
If you want to learn all about CoinTracking’s services and whether or not they’re right for you, stick around for this in-depth CoinTracking review.
CoinTracking Features and Services
Within the CoinTracking Dashboard, you’ll be able to view key statistics for your crypto portfolio, including total value, total trades, trades per exchange, the BTC price, and your current balances.
CoinTracking also includes a timeline displaying all your most important moments, like your first trade on each exchange, dates your portfolio hit its highest or lowest values, and other relevant dates regarding your activity.
It would be nice to see CoinTracking include even more statistics and charts in this section, but it’s still a solid place to track your portfolio’s performance and crypto history.
Reports and Services
CoinTracking supports a wide range of reports and services for viewing all your crypto data, and each report is organized beautifully into charts and graphics.
CoinTracking has far too many charts and services to list but includes reports on trading fees, balances by exchange, a list of trades, coins by exchange, and a double-entry ledger list.
Every report is displayed as a snapshot with a description and organized into one window that users can easily scroll through, making the whole section very easy to navigate.
If you want to dive into the full report, click any of the boxes and you’ll be redirected to the full window where you can filter results, copy tables, or download files.
The sheer number of reports CoinTracking offers can be a bit overwhelming, but they are extremely digestible and provide a detailed insight into all your crypto trading activity.
Crypto Tax Reports
In addition to its portfolio managing services, CoinTracking will generate tax reports and provide other tax reporting features users can apply to their digital currency portfolio.
CoinTracking includes reports for realized and unrealized gains, tax-privileged coins, a roll-forward audit report, missing transactions, and average purchase price through its cost-basis accounting methods.
CoinTracking also has a tax reporting feature that offers several different ways to view your tax data/tax forms. Available reports include a capital gains report, income report, gifts and donations report, lost and stolen coins report, and a closing positions report.
Overall, the tax reports and services CoinTracking provides are great but still fall short of other advanced crypto tax reporting platforms, like ZenLedger, that offer NFT services, tax-loss harvesting, and other helpful features.
That being said, there is still a wealth of information and value in CoinTracking’s tax reporting software that will more than effectively help users navigate the evolving crypto tax laws.
Charts and Trends
CoinTracking’s “Charts and Trends” section is a great place to view price action, market trends, and personal trade statistics.
The subsections included in this section are “Coin Trends,” “Coin Charts,” “User Statistics,” “Bitcoin Analysis,” and “Coin Price Calculator.”
The Coin Trends section lists all the crypto assets, their price, volume, and trend over various periods. Each asset even has a little chart next to it.
The layout is quite similar to crypto exchanges, and it should prove to be a great place to track the crypto market.
The charts CoinTracking provides in the Coin Charts section aren’t ideal for active crypto traders and only display BTC price action, but they are still a respectable resource.
The most useful part of the Coin Charts section is the statistics portion, which includes volume, market cap, historical opening prices, on-chain analysis, and actionable signals.
The User Statistics section is a detailed page full of average portfolio and trading statistics based on aggregated data of all users.
Some statistics it tracks are the number of bitcoins per user, total account value, percentage of trades by asset, and historical distribution, making it an excellent resource full of relevant data.
The Bitcoin Analysis section is similar to the Coin Charts tab and includes charts outlining the bitcoin price (normal, per weekday, and per hour) and trading volume.
While those features aren’t all that different from the Coin Charts section, there is also an EMA Analysis and Google Trends section that can be quite useful. They often have difficulty loading, but they’re great features when working.
The last section of the Charts and Trends section is the Coin Price Calculator, which is just a simple way to calculate exchange rates between any selected crypto asset and a particular fiat currency.
This is usually a feature available through any crypto exchange, but it’s nice to see it on CoinTracking considering it isn’t an exchange.
CoinTracking has four tiers of plans: a Free plan, a Pro plan ($10.99 per month, an Expert plan ($16.99 per month), and an Unlimited plan ($54.99 per month).
The Free Plan includes tracking up to 200 transactions, tracking of coins, the dashboard, charts, and reports, 5MB per CSV file, limited access (100 entries) to the tax and capital gains reporting, a limited number of linked exchanged accounts, and up to two personal trade backups.
The Pro Plan includes tracking up to 3,500 transactions, tracking of all coins, the dashboard, charts, and reports, 20MB per CSV file, five automatic exchange/blockchain imports, unlimited access to the tax and capital gains reporting, an unlimited number of linked exchanged accounts, up to five personal trade backups, and no ads.
The Expert Plan includes tracking of up to 20,00 transactions, tracking of all coins, the dashboard, charts, and reports, 20MB per CSV file, ten automatic exchange/blockchain imports, unlimited access to the tax and capital gains reporting, an unlimited number of linked exchanged accounts, up to ten personal trade backups, and no ads.
The Unlimited Plan includes tracking of unlimited transactions and coins, the dashboard, charts, and reports, 200MB per CSV file, 50 automatic exchange/blockchain imports, unlimited access to the tax and capital gains reporting, an unlimited number of linked exchanged accounts, up to 20 personal trade backups, no ads, access to advanced tools, prioritized calculations, and priority support from crypto tax advisors.
How CoinTracking Compares to Competitors
CoinTracking is a bit unique because it serves as a portfolio management platform and crypto tax service, so the best comparison will depend on what you want.
That said, there are other platforms that provide the same combination of services, such as CoinTracker.
CoinTracker has a beautiful and easy-to-use design, arguably a more extensive suite of services, including tax-loss harvesting tools and an NFT center, but you certainly pay for that extra value.
CoinTracker has separate plans for all its services (taxes, portfolio tracking, etc.), including some without free plan options, meaning the bang for your buck with CoinTracking is much better.
In summary, CoinTracker is probably a superior platform overall, though not by a large margin, it will just cost you a lot more money. CoinTracking is the better value option, so if you aren’t willing to fork out a large sum for portfolio tracking and creating tax reports, we believe CoinTracking is the better platform.
Conclusion: CoinTracking Review
After carefully walking through all of its services for this CoinTracking review, we believe CoinTracking is a great platform for tracking one’s portfolio, but it isn’t the ideal platform for crypto taxes.
CoinTracking’s portfolio statistics and market analysis tools are excellent, and both investors and traders will appreciate the countless insights available to them, but that won’t matter all that much if your sole focus is taxes.
With that in mind, CoinTracking is a solid platform for managing your crypto tax liabilities, but it still falls short of other crypto tax platforms that maintain that as their sole focus.
This is not to say CoinTracking’s tax services are not great or extensive, but they are quite as extensive or easy to use as those of Koinly or TaxBit.
As a platform providing both crypto tax services and portfolio analytics, CoinTracking is arguably one of the best out there, but the portfolio analytics would be the main reason to consider creating a CoinTracking account.
If portfolio tracking is your focus, CoinTracker might be a better option, but you still can’t go wrong with CoinTracking.
In conclusion, we would highly recommend CoinTracking’s portfolio tracking tools and believe its tax services are more than satisfactory, but if you don’t care about portfolio tracking, you would be better off with a more tax-focused platform.