Crypto portfolio and tax management tool that offers real-time tracking, advanced tax reporting, and supports 12,000+ cryptocurrencies, ideal for both casual and professional traders
CoinTracking Review: A Comprehensive Crypto Portfolio and Tax Management Tool
Introduction
In the fast-evolving world of cryptocurrencies, managing portfolios and staying compliant with tax regulations is increasingly important. CoinTracking has emerged as a powerful solution, providing users with detailed portfolio tracking, performance analytics, and tax reporting. This review will break down the features, benefits, and potential drawbacks of CoinTracking, helping you decide if it’s the right tool for your crypto management needs.
What is CoinTracking?
Company Background
Launched in 2013, CoinTracking is one of the earliest cryptocurrency portfolio and tax management platforms. It has gained trust from over 1 million users, offering robust features that cater to both casual investors and professional traders. Its powerful analytics and tax tools set it apart as a comprehensive solution for anyone serious about managing their crypto investments.
Key Features of CoinTracking
1. Automatic Exchange Syncing
CoinTracking connects to over 110 exchanges, including Binance, Coinbase, and Kraken, allowing automatic syncing of all transactions. This feature makes managing multiple wallets and exchange accounts seamless, eliminating the need for manual input of trades.
2. Real-Time Portfolio Tracking
With CoinTracking, users can view the real-time value of their crypto assets. It supports over 12,000 cryptocurrencies, including altcoins and tokens. The platform provides detailed performance analytics, helping users understand gains, losses, and overall portfolio health.
3. Advanced Tax Reporting
CoinTracking simplifies tax season by generating accurate capital gains, income, and tax reports for over 100 countries, including the U.S., U.K., Canada, and Germany. It supports multiple accounting methods such as FIFO, LIFO, and HIFO, allowing users to choose the most beneficial tax strategy.
4. DeFi and NFT Support
The platform supports transactions from decentralized finance (DeFi) platforms and non-fungible token (NFT) trades, offering insights into these complex areas of the crypto world.
5. Customizable Reports and Charts
CoinTracking’s reporting tools are highly customizable, offering users the ability to generate charts and reports that suit their specific needs. Whether you want an overview of gains and losses, transaction history, or tax data, the platform provides detailed visualization options.
6. Mobile App
Available on both Android and iOS, CoinTracking’s mobile app allows users to track their portfolio and manage transactions on the go, making it a convenient tool for active traders.
Security and Privacy
Bank-Level Security
CoinTracking uses advanced encryption methods to secure user data. It supports two-factor authentication (2FA) to add an extra layer of protection to your account.
Privacy Focus
CoinTracking places a strong emphasis on user privacy. Data stored on the platform is not shared with third parties, and the company provides users with full control over their personal information.
Pricing Plans
- Free Plan
The free plan allows users to track up to 200 transactions, making it suitable for beginners or casual traders. - Pro Plan ($10/month)
The Pro plan increases the transaction limit to 3,500 and provides additional features like priority customer support. - Expert Plan ($16/month)
With support for up to 20,000 transactions, the Expert plan is ideal for frequent traders or those with complex portfolios. - Unlimited Plan ($54/month)
For high-volume traders or institutional users, the Unlimited plan supports an unlimited number of transactions, offering top-tier features and customer support.
Pros and Cons of CoinTracking
+ Accurate tax reporting for over 100 countries
+ Real-time portfolio tracking and performance analytics
+ DeFi and NFT support
+ Mobile app for easy on-the-go tracking
+ Supports multiple tax accounting methods (FIFO, LIFO, HIFO)
− The interface may feel complex for beginners
− Limited DeFi and NFT tracking compared to some competitors
Comparison with Competitors
| Feature | CoinTracking | CoinTracker | Koinly | ZenLedger |
|---|---|---|---|---|
| Price (Premium) | $16/month | $199/year | $99/year | $149/year |
| Supported Exchanges | 110+ | 300+ | 200+ | 300+ |
| Cryptocurrencies | 12,000+ | 5,500+ | 6,000+ | 4,000+ |
| DeFi & NFT Support | Yes | Yes | Yes | Limited |
| Tax Report Types | Capital gains, income | Capital gains, income | Capital gains, income | Capital gains, income |
Key Differences:
- CoinTracking excels in tax reporting for complex portfolios with diverse accounting method support (FIFO, LIFO, HIFO).
- CoinTracker supports more exchanges, which might make it more suitable for users managing a broader range of platforms.
- Koinly is more affordable, but its crypto support is less comprehensive compared to CoinTracking.
Conclusion: Is CoinTracking Right for You?
CoinTracking stands out as an excellent choice for crypto users who need detailed portfolio management and tax reporting. Its support for 12,000+ cryptocurrencies, real-time portfolio tracking, and advanced tax features make it a top choice for serious traders and investors.
While the platform’s pricing can be high for heavy traders and the interface may feel overwhelming for beginners, its comprehensive features are well worth the investment, especially for users with complex portfolios. If you’re looking for an all-in-one solution for tracking, analyzing, and managing your crypto taxes, CoinTracking should be at the top of your list.
