Best For

  • Casual and Intermediate Crypto Asset Investors
  • Professional Crypto Asset Investors
  • Crypto Asset Miners

CryptoTrader.Tax is a financial software that enables you to calculate the tax you owe in relation to your net crypto asset gains. The company was founded in Kansas City, Missouri by tax specialists and began offering their software and services in 2017.

CoinTracking Cryptocurrency Tax Software - Comprehensive 2020 Review

Overall Score:

8
Trusted
Compatibility:
9.5 of 10
Value:
9.5 of 10
Ease of use:
9 of 10
Transaction Types:
10 of 10
Special Features:
8.5 of 10
Customer Service:
8 of 10

CoinTracking Cryptocurrency Tax Software Overview

Platform TypeAll Traders
Exchanges SupportedAll
Countries SupportedAll Countries
Currencies SupportedAll
Pricing Plans$0 - $49.99 Monthly
Payment MethodsDebit & Credit Cards, Crypto
Transaction Count200 - 20,000
Tax Return AmendmentsNo
Portfolio TrackingYes
Personalized AccountingYes
Customer ServiceEmail
PromotionsFree accounts for up to 200 transactions.

How Does CoinTracking Work?

CoinTracking enables users to upload all of their crypto transaction history files from over 70 different exchanges or wallets to create an accurate crypto tax form. The software also displays real-time portfolio reports that track any gains or losses across each exchange.

After creating a new CoinTracking account, users must enter personal information such as the fiat currency you want your tax reports to use and the time zone you are located in. The trade import page shown below will then automatically load; from this page, the user may upload any transactionswill then load automatically which will enable you to upload any transactions for over 8,000 different cryptocurrencies using CSV or API imports.

The import page features two options: either manually input each transaction, or import all transactions from a specific exchange or wallet by clicking on the corresponding icon at the bottom of the page. Once all transactions have been uploaded, the tax report can be completed by clicking on the “Tax Report” link at the top of the page. If you require CPA assistance, choose the “Full-Service” option from the "Tax Report" drop-down menu.

Available CoinTracking Plans

Individual Crypto Asset Investor Plans

Individual crypto asset investors can use the CoinTracking software for free; alternatively, they may pay for a one-year, two-year, or pay for a one year, two year, or lifetime membership plan. In addition to the features listed in the chart below, all premium members will receive exclusive third party benefits from 18 different crypto companies, including Binance and KuCoin.

Free Pro Expert Unlimited
1 Year Price (Billed Annually)
$0
$9.99 Monthly
$15.49-$24.99 Monthly
$49.99 Monthly
2 Year Price (Billed Bi-Annually)
$0
$7.79 Monthly
$11.99-$19.99 Monthly
$40.99 Monthly
2 Year Price (Billed Bi-Annually)
$0
$7.79 Monthly
$11.99-$19.99 Monthly
$40.99 Monthly
Lifetime Price (One-Time Payment)
$0
$385
$1,649
$4,799
Transactions
Up To 200
Up To 3,500
20,000-100,000 (Price will vary)
Unlimited
Automatic Blockchain Imports
0
Up to 5
Up to 10
Up to 50
Tax and Capital Gains Reporting
Limited
Yes
Yes
Yes
Priority Customer Support
No
No
No
Yes
Complete Personal Trade Backups
Up to 2
Up to 5
Up to 10
Up to 20

Accepted payment methods for the plans listed above include PayPal, Bitcoin, Visa, MasterCard, American Express, Google Pay, bank transfer, and over 50 alt-coins. Membership plans purchased with Bitcoin will receive a 5% discount.

Corporate Accounts

With a CoinTracking Corporate Account, crypto tax professionals or trading companies can manage several of their clients’ crypto portfolios and create tax reports accordingly. The base price for this service is set at an annual price of $499, which includes 10 unlimited membership plans for clients. CoinTracking allows all users to test this software free of charge with a 2-day free trial.

If you have more than 10 clients, extra accounts can be purchased at a rate of $99 per account for the first 50. After that, the price per client account will decrease by $10 for every 50 additional accounts.

Full Filing Service Plans

The full filing service plan is ideal for users who require help filing, or simply need a CPA to review their reports. The chart below displays the differences between the four available full filing service plans and covers their costs.

Crypto Tax Expert Review Basic Full-Service Advanced Full-Service US Tax Return Preparation Service
Price
$150
$649
$250 hourly, plus quoted fee
$450 yearly
Error Checking
Yes
Yes
Yes
Yes
Prior Year Return Amendments
No
No
No
Yes
Transactions Supported
N/A
Up to 1,000
Unlimited
Unlimited
Wallets/Exchanges Supported
N/A
Up to 4
Unlimited
Unlimited

Those who purchase the Advanced Full-Service filing plan will receive a discount on the U.S. Tax Return Preparation Service Plan. Additionally, individual crypto asset investors who have already purchased a CoinTracking Unlimited Membership Plan will receive a 20% discount on all plans listed above.

Exchanges & Wallets Supported

CoinTracking supports 36 exchanges that enable you to upload your transaction history using CSV files, and 36 exchanges that facilitate API uploads. Some of the popular exchanges found on this list include Kraken, Binance, Coinbase, and Kucoin. The CoinTracking software also supports transaction data uploads from 20 different legacy exchanges, such as Mt. Gox.

Unlike most other crypto tax softwares, CoinTracking supports transaction data from hardware wallets like Trezor and Ledger. If your exchange or wallet is not listed, you can still upload a custom CSV, Excel, or exchange import file using the icons at the bottom of the trade import page seen below.

CoinTracking Security

All personal information is encrypted by the CoinTracking software for the safety of its users. Any API information used to upload crypto asset transactions is also encrypted.

For additional safety, CoinTracking enables users to apply two-factor authentication to their account, which requires two devices to verify a log-in attempt. The software also allows users to back up their transaction files and restore them if necessary.

CoinTracking and Cryptocurrency Mining

Both commercial and private crypto mining profits are supported by the CoinTracking software. After visiting the manual import page and clicking on the “New” button, you will see the pop-up shown in the photo below. You can then select whether your transaction type is private mining or commercial mining. Finally, enter the amount of crypto assets received and any associated fees.

CoinTracking And Airdrops

Airdrop transactions are fully supported by the CoinTracking software. On the import page, simply select the “New” button and then click on the "Trade" drop-down menu at the top of the pop-up window. After that, click on the "Airdrop" option seen in the image below. Once you have entered all of the relevant Airdrop information such as the currency and the amount received, click the “Add Transaction” button in the lower right-hand corner.

CoinTracking Customer Service

The only way to contact the customer service department is to fill out a support ticket and wait for a response. The live chat feature only allows you to speak with a chatbot, which can answer many generic questions; however, it cannot handle any specific account issues. To ask the support chatbot a question, click on the blue and white speech bubble seen in the image below.

CoinTracking and Margin Trading

While CoinTracking supports margin trading transactions, the process requires an extra step compared to other transaction types due to its advanced nature. On the import page, after you select the “New” button, you will then need to click on the “New: Show Advanced Types” link in the middle of the pop-up window.

On the advanced types page, you can select “Margin Trading” from the menu seen below if the trade is still open. The final tax report will ignore all open margin trades. If the margin trade is closed, you will need to select the “Margin Loss” or “Margin Profit” option to include it on your tax report.

CoinTracking Cryptocurrency Tax Software Alternatives

Rating8/109/109/10
Pricing$0 - $49.99 Monthly$65 - $1,999 Annually$39.95 Annually
Margin TradingYesYesYes
DeFi SupportYesYesNo
Personalized AccountingYesYesYes
Tax Return AmendmentsNoUp to 10 yearsYes (2017-2019)
Tax Loss HarvestingNoYesYes
Learn MoreReviewReviewReview

FAQ

How much does CoinTracking cost?

Can CoinTracking be used by tax professionals?

When calculating tax reports, which cryptocurrencies does CoinTracking support?

What are the differences between CoinTracking and CoinTracker?

Can CoinTracking be used to amend prior years’ tax returns?

Terms To Know

Form 8949

Tax form for crypto asset income.

Full Filing Service

Files a full tax return, crypto included

Unrealized Gain

A potential profit that is realized once the asset is sold

Airdrop

Zero-cost basis crypto sent to users of an exchange or protocol, usually as a promotion or a reward.

Hardware Wallet

A device that stores a user’s crypto keys to keep them secure

Pros and Cons

Pros

  • API and CSV Support - Uploading all of your crypto asset transactions from over 70 different exchanges and wallets can be done using either CSV or API imports.
  • Software Versatility - The CoinTracking software supports various transaction types including margin trading, mining, Airdrops, and many more.
  • Full Filing Service - Advanced crypto asset investors can use CoinTracking to completely file their US taxes with the help of a crypto tax professional.
  • Crypto Assets Supported - Over 8,000 different crypto assets can be tracked and included in your tax report using the CoinTracking software.

Cons

  • No Tax Harvesting - CoinTracking does not offer an easily-accessible tax harvesting dashboard to help reduce the amount of taxes owed.
  • Expensive - Although CoinTracking allows users to use their software for free in a limited capacity, the upper-level membership plans are very highly priced.
  • No Live Chat - Most crypto tax software programs offer a live chat feature for quick access to a customer service representative. In contrast, CoinTracking only offers access to a chatbot and a ticket support system.
  • Conclusion

    CoinTracking is a useful crypto tax software that may be utilized to track your crypto portfolio and accurately produce relevant crypto tax forms. The software also provides assistance to users who need help filing their U.S. tax returns or amending returns from previous years.

    The software conveniently supports over 8,000 different cryptocurrencies and accepts a number of different payment methods, making it an attractive option for a diverse consumerbase.

    Blockfer recommends CoinTracking for novice crypto asset investors who have less than 200 transactions, professional crypto tax investors who have thousands of transactions, or crypto tax professionals with multiple clients.

    Legal NameCoinTracking GmbH
    Incorporated CountryGermany
    HeadquartersEuropean Union (EU)
    Year Founded2012
    CEODariusz Kachel
    Total Employees20-50
    Regulators
    Links Website, Twitter, LinkedIn, Crunchbase
    Make Better Decisions With Your Crypto.
    How We Earn Revenue
    Make Better Decisions With Your Crypto.
    How We Earn Revenue