16 min read
29 May
29May

CoinTracking offers investors of digital currencies a useful portfolio monitoring tool. The tool analyzes the price history of over 4,000 crypto currencies, your own trades, profits and losses from the trades as well as current balances. Furthermore, CoinTracking provides a time-saving and useful service that creates a tax report for the traded crypto currencies, assets and tokens.

In this Guide, you will learn how to display your trades in CoinTracking, generate reports and make sure that all your information is accurate before you file your taxes.

At the same time, you can briefly get acquainted with the best alternative crypto tax services, which also enjoy a well-deserved reputation among experienced investors and beginners. Such as Accointing, CoinTracker, CoinPanda, Koinly, CryptoTrader.Tax, TokenTax, ZenLedger, and others.


CoinTracking - Bitcoin, Digital Currency Portfolio and Tax Reporting

Before CoinTracking can perform calculations, your coins must be entered on the Enter Coins page. There are several ways to do this, which will be explained in more detail in the next section.

I. Entering coins and trades

1. Entering trades manually

CoinTracking - Entering trades manually

The manual method makes it easy to enter individual trades.
Click on the New button above the trade table on the Enter Coins page to create a trade.

Example:

If you bought 2 BTC on Kraken for $7000 USD, you would enter the following:

- Buy: 2 BTC
- Sell: 7000 USD
- Exchange: Kraken

Now let's say that you sold your 2 BTC at Kraken one day later for 7500 USD. To record that transaction, you would enter the following:

- Buy: 7500 USD
- Sell: 2 BTC
- Exchange: Kraken

Your trades are immediately displayed in the table and the current value as well as your profit or loss are calculated.
Congratulations! You have just entered your first trades.

You can add, edit, comment, filter, search, and delete all trades directly in the table.
You can find even more functions in documentation.


2. Upload trades from exchanges

CoinTracking - Upload trades from exchanges

Since manual entries of many trades can be very tedious, CoinTracking supports a large number of well-known exchanges, from which your trades can be imported directly as CSV files.

Click on the logo of an exchange below the trade table and select "CSV" to open the exchange import. Follow the instructions on the next page to upload your trades.


3. Automatic API imports

Cointacking - Automatic API imports

With these imports, you can synchronize your exchanges so that your data updates automatically. The system checks your trades at regular intervals and automatically adds new trades to your CoinTracking account.

Click on a exchange logo and select "API" to set up an API import.


4. CSV, Excel and custom imports for all other exchanges

CoinTracking - CSV, Excel and custom imports for all other exchanges

If you can't find the exchange you use within CoinTracking's interface, you can use one of these universal importers to copy your data to your account instead.

They let you transfer information from almost any source. The Excel Importer, for example, can pull in data from any type of Excel spreadsheet.


5. Wallet, Blockchain and legacy imports

CoinTracking - Wallet, Blockchain and legacy imports

CoinTracking also supports many different hardware and online wallets like Exodus and Trezor.

CoinTracking - Wallet, Blockchain and legacy imports

CoinTracking's software uses publicly accessible blockchains to update your deposit and withdrawal data. You'll never need to provide your private key or give CoinTracking access to your actual funds. If you have an old CSV file that contains your trading data, you can import your trades and declare a tax loss.


Tips and tricks for entering trades

Check your data after each import.

The Balance by Exchange report shows how much money you have in each of your connected cryptocurrency exchanges. For best results, you should import all of your information from each wallet or exchange that you use, and run this report after each import session. The balance of each coin shown should match the actual balance in your exchange or wallet.

CoinTracking lets you track your mining income, air drop income, expenses, donations, stolen or lost coins and much more. This knowledge base article explains all the transaction types you can use.


II. Reports and analyses 

Dashboard

Your dashboard offers the big picture view of how your assets are performing. 

Tip: For a more streamlined view of your dashboard, click the Customize Dashboard button on the top right side of the page. You can use it to hide or display various dashboard tiles.

CoinTracking - Reports and analyses, Dashboard


After you've finished importing your transactions, you can use CoinTracking to check on how your cryptocurrency assets are performing in real time. CoinTracking's reporting features give you the ability to look at your data in a variety of different ways.

The best way to learn how to use these reports is by experimenting with them yourself. Various filters and views give you the ability to zoom in on a certain type period, focus on one or more exchanges, add or remove different trade groups and more. 

Trade Statistics

CoinTracking - Trade Statistics

Here you can find charts that are derived from the Enter Coins page. They depict the total value of your portfolio, the value of individual currencies, your trading volume and more.

Tip: You can click on the legend to show or hide various asset types.

Trade List

Trade List view displays all your trades in a table style format. You can use the search box on the top right side of the page to look for a specific transaction.

Tip: For more detailed information about a transaction, click the blue plus button on the left.

Daily Balance

This view lets you go back in time and find out how much your currencies were worth at any given day in the past. It's the best view to use to get the amount and value of your coins at the end of the quarter or year.

Realized and Unrealized Gains

The Realized and Unrealized Gains report compares the current value of your assets to their purchase price. You can use it to see how much you would gain or lose, if you decided to initiate a trade.

Tip: If you haven't sold your assets, your gains and losses are considered to be unrealized for tax purposes.

Balance by Exchange

This report is useful for double-checking your data and making sure it's correct. You can use it to compare your CoinTracking data to your actual exchange and/or wallet balances. If the totals don't match up, you may need to make an edit, restore a broken API connection or import your data again.

Balance by Currency

The Balance by Currency report gives you several different ways of looking at your data. Thirteen different filters let you add or remove various types of transactions from the view. You can apply time filters to the view, as well and group by day, week, month or year. 

More views and graphs

  • Trade prices come in handy, if you've mined cryptocurrency, because it shows you the fiat value of each mining reward at the time of the transaction.
  • Trading Fees shows you not only all the fees that you've paid, but also the value of each fee in the fiat currency of your choice.
  • Trade Analysis calculates your Average Purchase and Sales Price, your Break Even Price and Profit/Loss. A filter lets you search for transactions involving specific coin pairs.
  • Roll forward / Audit Report shows start and end balances for all assets, together with valuation movements and any new asset purchase or sale that occurred during the report period. It can be used to identify missing transactions, incorrectly configured settings and other issues and mistakes that can throw off your tax report's accuracy.
  • Tax-free Coins (Short & Long) is useful for people that live in a country, where the tax authority lets you trade cryptocurrency tax free or for a discounted tax rate, if you hold onto your asset for longer than a year's time before you sell. It pulls up a breakdown of all your long and short positions.
  • Reports like Missing Transactions, Duplicate Transactions and Validate Transactions help you to check and validate your entries and imports to ensure everything is correct.

III. Tax reports and tax assistance

Tax reports

CoinTracking - Tax reports and tax assistance

One of CoinTracking's most convenient features is that it automatically prepares your cryptocurrency taxes for you. To get started, just click the Tax Report tab from the main menu.

Once you generate your tax report, you can convert it into a wide variety of different formats. You can export your data to TurboTax, Drake or TaxACT. US-based crypto traders can even use their tax report to generate IRS form 8949, which is the form that's required for reporting crypto gains and losses.

No other cryptocurrency tax software supports as many accounting methods as CoinTracking. Available accounting methods include Average Cost, FIFO, LIFO, HIFO, LOFO and many others.

CPA List

CoinTracking - CPA List

Learn about crypto tax laws and seek professional advice.
Use CoinTracking's new cryptocurrency tax law database to dig into the details of your local crypto tax laws, or find accountants that specialize in cryptocurrency.

On the interactive world map you will find a lot of information about the tax treatment and the legal situation of crypto currencies in different countries.


IV. Do Your Own Research with CoinTracking 

CoinTracking - The Charts & Trends menu contains several different research tools, which you can use to work out your own custom trading strategies. Find out which coins are hot and review historical prices for all cryptocurrencies.

The Charts & Trends menu contains several different research tools, which you can use to work out your own custom trading strategies. Find out which coins are hot and review historical prices for all cryptocurrencies.

User Statistics show which coins CoinTracking's users trade the most, the average number of Bitcoins they hold and the sum value of their portfolios. You can even examine their collective profits and losses over various time periods.


V. CoinTracking Tutorials

CoinTracking's 16-part series of tutorial videos provides a quick introduction to CoinTracking. You'll learn how to create trades, how reports work, and what settings and features your CoinTracking account has to offer. 


About CoinTracking


CoinTracking is a unified one-stop solution which can provide excellent tracking features across multiple platforms and multiple currencies. Excellent features and great integration with popular digital coins and exchange platforms, this can definitely be a powerful tool that users can take advantage of in better planning and managing their digital currency portfolio.

CoinTracking is a unified one-stop solution which can provide excellent tracking features across multiple platforms and multiple currencies.
  • Monitor and track all your coins in one place.
    Analyze your trading data and keep up with price changes in real time.
  • CoinTracking.info is the world's premier cryptocurrency tax tool and portfolio manager.
    Initially launched in April 2013, CoinTracking's community now consists of over 869,600 active users.
  • It tracks not only Bitcoin, but also Ethereum, Litecoin, EOS, Monero, Dash and over 10,606 other altcoins. Since CoinTracking doesn't require access to your accounts, it's completely safe to use.

Personal Analysis

  • 25 customizable crypto reports
  • Interactive charts for trades and coins
  • Profit / loss & Audit reports
  • Realized and unrealized gains

Trade Imports

  • Easy import from 110+ exchanges
  • Automatic import via APIs
  • Direct sync with the blockchain
  • Export in Excel, PDF, CSV, XML & JSON

Tax Declaration

  • Tax reports for 100+ countries
  • Capital Gains, Income, Mining, etc.
  • 13 Tax methods (FIFO, LIFO, AVCO...)
  • Tax export for CPAs and the tax office

Coin Charts & Trends

  • Chart history for all 10,756 coins
  • Always the latest prices for all coins
  • Top Coins by trades and by volume
  • Coin trends, statistics and analysis

Professional Help

  • Crypto tax laws for 100+ countries
  • Share your data with crypto tax advisors
  • Tax reviews by the Full-Service team
  • Detailed tutorials, video guides and FAQ

Security & Encryption

  • Data and API encryption
  • 2-factor authentication
  • Create and restore trade backups
  • No access to your exchanges required


Get Paid To Trade Bitcoin!

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The Best Alternative Crypto Tax Platforms:


The Best Alternative Crypto Tax Platforms: Accointing, Koinly, Coinpanda, CoinTracker, TokenTax, ZenLedger, Recap, CoinTracking, CryptoTraderTax, BearTax

1. Accointing.com


Accointing.com - Bitcoin Tax and Crypto Portfolio Tracking Platform. Crypto Tracking and Tax Reporting Track, Manage, and Report All Your Crypto Platforms In One Place.

Accointing.com - is an all-in-one crypto platform that consolidates all your transactions and generates several outputs: whether as a crypto portfolio tracker, providing you portfolio analytics, or as a crypto tax tool, generating a printable tax file to report your cryptocurrencies, based on your country's jurisdiction.

Accointing.com - is the absolute solution for crypto traders, regardless of their level of experience due to its great user experience and amazing customer support, all at the best price in the market.  

Accointing.com - Bitcoin Tax and Crypto Portfolio Tracking Platform. Crypto Tracking and Tax Reporting Track, Manage, and Report All Your Crypto Platforms In One Place.

Accointing.com - Bitcoin Tax and Crypto Portfolio Tracking Platform. Crypto Tracking and Tax Reporting Track, Manage, and Report All Your Crypto Platforms In One Place.

Accointing.com - Crypto Platform For All Your Needs: Manage your crypto portfolio, Analyze your portfolio, set up alerts, and get real-time insights. Explore the crypto market: Get an overview of the market, and track coins in your watchlist. File and report your taxes: File your crypto taxes in just a few clicks!

Accointing.com provides an insightul dashboard, available in both mobile and desktop to keep track of your performance and transactions in real-time with an amazing user experience.

Instantly connect all your crypto exchanges and wallets. Over 300 wallets and exchanges supported in the platform via mobile or desktop. It only takes 5 clicks to get your tax report, that is customized to your country. Select your country to get more information. 


2. Koinly


Koinly - Free Cryptocurrency Tax Software. Crypto tax reports in under 20 minutes. Koinly calculates your cryptocurrency taxes and helps you reduce them for next year. Simple & Reliable. Available in 20+ countries. Free report preview, Form 8949, Turbotax.

Koinly - Free Cryptocurrency Tax Software. Crypto tax reports in under 20 minutes. Koinly calculates your cryptocurrency taxes and helps you reduce them for next year. Simple & Reliable. Available in 20+ countries. Free report preview, Form 8949, Turbotax.

Koinly is developed in close collaboration with local tax firms to ensure it complies with all the applicable tax laws. Multiple cost-basis methods. Choose between FIFO, LIFO, HIFO, Average Cost, Share Pooling & Spec ID. Defaults to the recommended method in your home country. Universal or Wallet-based cost tracking. Keep track of your costs in a universal pool shared across all connected wallets or separately for each wallet. Smart transfer matching.


3. Coinpanda


Coinpanda - Free Bitcoin, Crypto Tax Software. Calculate, Report Your Cryptocurrency Taxes. Free tax reports, DeFi and support for 250+ exchanges. Import from Coinbase, Binance, BitMEX, Uniswap.

Coinpanda - Free Bitcoin, Crypto Tax Software. Calculate, Report Your Cryptocurrency Taxes. Free tax reports, DeFi and support for 250+ exchanges. Import from Coinbase, Binance, BitMEX, Uniswap, etc.

By selling coins at a loss you will reduce your total capital gains. This means you can pay less tax next year. 

Coinpanda helps you minimize your taxes and maximize profits. Save time and download your crypto tax reports in under 20 minutes. Crypto tax reports. Import your transactions and download tax reports with the click of a button. Coinpanda supports all popular exchanges and wallets. Capital gains report. Futures and margin trading.


4. CoinTracker


CoinTracker - Bitcoin Taxes, Crypto Portfolio & Prices. CoinTracker is the most trusted Bitcoin Tax Software and Crypto Portfolio Manager. Automatically connect Coinbase, Binance, and all other exchanges & wallets.

CoinTracker - Bitcoin Taxes, Crypto Portfolio & Prices. CoinTracker is the most trusted Bitcoin Tax Software and Crypto Portfolio Manager. Automatically connect Coinbase, Binance, and all other exchanges & wallets.


5. CryptoTrader.Tax


CryptoTrader.Tax — The #1 Crypto Tax Software. Calculate Your Crypto Taxes in 20 Minutes. Instant Crypto Tax Forms. Support For All Exchanges and 10,000+ Cryptocurrencies. CryptoTrader.Tax takes away the pain of preparing your bitcoin and crypto taxes in a few easy steps. Start by connecting your exchanges and importing your historical transactions. Calculate your income from any transaction type including trades, mining, staking, interest, and more.

CryptoTrader.Tax — The #1 Crypto Tax Software. Calculate Your Crypto Taxes in 20 Minutes. Instant Crypto Tax Forms. Support For All Exchanges and 10,000+ Cryptocurrencies. 

CryptoTrader.Tax takes away the pain of preparing your bitcoin and crypto taxes in a few easy steps. Start by connecting your exchanges and importing your historical transactions. Calculate your income from any transaction type including trades, mining, staking, interest, and more.


6. TokenTax


TokenTax - Cryptocurrency Tax Software, Crypto Tax. TokenTax - Calculate your crypto taxes and file your return. TokenTax is a crypto tax software platform and a full-service cryptocurrency tax accounting firm.

TokenTax - Cryptocurrency Tax Software, Crypto Tax. TokenTax - Calculate your crypto taxes and file your return. TokenTax is a crypto tax software platform and a full-service cryptocurrency tax accounting firm.

TokenTax has been rated best software for calculating and filing your crypto taxes. Connect any exchange, track your gains, and automatically create your tax forms.


7. ZenLedger


The Most Comprehensive Crypto Tax Calculator on the Market Easily calculate your cost basis, gains, and losses with ZenLedger

ZenLedger is one of the most comprehensive Bitcoin & Crypto Tax calculators on the market, with which you can easily calculate your costs, profits, losses and never overpay taxes again. At the same time, ZenLedger is a convenient tool to simplify taxes on DeFi and Crypto investors.

ZenLedger Crypto Tax supports more than 400+ exchanges, including 30+ DeFi protocols. Compared to its competitors, ZenLedger supports more exchanges, coin types, wallets, blockchains, fiat currencies, and DeFi protocols. New integrations are constantly being added.


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