CoinTracking calls itself the “Leader for Cryptocurrency Tracking and Reporting” and we have to agree. I have personally been using CoinTracking (cointracking.info) for more than a year to track my trades, it is truly indispensable to me in keeping track of my crypto portfolio. Not only will you be able to get a general overview of the value of your coins but there are tons of more advanced features and reports. My personal favourite is the realised and unrealised gains section, I won’t make any selling decision without checking this out first.
In this review I will go through all the features, quirks and reasons every crypto holder needs this tool in their army. I’m not trying to sell it to you, all the reviews on our site are independent, we are not paid by anyone to recommend products. If we recommend something it’s because it is genuinely awesome. Anyway, read on and we will be dishing out all the details. Or if you are eager and ready to check out CoinTracking already click here to sign up for a free account and enjoy a 10% discount if you upgrade to a paid plan.
What is CoinTracking?
Cointracking is the most advanced crypto portfolio tracking tool out there. It will analyze all of your trades and from that generate all the data you need. Whether that be profits or losses, gains or even tax reports. As much as we love Blockfolio, it cannot compare to CoinTracking in terms of features and essential reporting for a serious cryptocurrency investor. Boasting over 300,000 active users, 9 years of data and the ability to add any coin on the market into your portfolio you can’t go wrong.
Here’s a summary of the main features:
- Import of trading data
- Supports over 40 exchanges for CSV and/or API import (including popular exchanges like Binance, Bittrex, Bitstamp, Coinbase, CEX, Gemini, Kraken, Poloniex and many more).
- It can also sync transactions from your wallets using sites like Blockchain.info or even from a Trezor.
- Some of the smaller exchanges are not supported like Kucoin or Bibox. We hope they are added soon, in the meantime you can enter trades manually for those.
- Portfolio analysis
- Tons and tons of charts – pie charts displaying your portfolio percentages by coin, graphs showing your portfolio value of time and many more.
- Realised and unrealised gain indicators – as we mentioned before, this is super useful.
- Coin Analysis
- Included are charts for each coin dating back for the entire history of the market.
- You will be able to check the latest price trends and volume.
- They even have an experimental Bitcoin forecast!
- Tax Reporting
- For those that live in a jurisdiction that requires you to pay capital gains on cryptocurrency gains then this report will be a real time saver.
- You can tweak it based on your country and it is designed for accountants.
- FIFO, LIFO, HIFO and LOFO options (your accountant could assist you to choose the correct one)
- Giving your crypto data away could be a scary thing and you are right to be paranoid but you needn’t be, all data is encrypted and APIs are read only.
- CoinTracking never needs access to your exchanges or wallets if you don’t want them to.
- It’s quite anonymous and they don’t require your email address to sign up.
If you would prefer to watch a quick video overview then CoinTracking have one for you:
Is CoinTracking free?
CoinTracking is totally free to sign up and get going. We recommend this so that people can get their feet wet and understand what a powerful tool this is. The free plan may even be enough for light users although you won’t be able to use API imports or produce tax reports. The good news is the paid plans are quite reasonable. The PRO plan (good enough for me) is just 0.012BTC for 1 year and 0.019BTC for 2 years whilst the unlimited plan, for you crypto wizards is 0.019BTC for 1 year and 0.029BTC for 2 years. Lifestime options are also available which are very good value if you know you’ll be using it for a few years or more.
Check out the full pricing details below:
Is CoinTracking safe?
Crypto users should always be extra paranoid about both security and privacy, it could be the difference between being subject to a nasty hack or happily keeping your precious coins (hopefully not TRON though). As you would expect CoinTracking uses SSL so all your data is encrypted from the web point of view, but this is pretty standard stuff, we need more than that to be happy.
One important feature of cointracking is that they do NOT need your email address to sign up and you can pay with Bitcoin. This means that even though they can potentially see how much crypto you have (actually they can’t because your data isn’t accessible to them), they won’t know your email address or your identity, preventing hacking attempts.
As for things like API imports, just make sure when you generate the keys at the exchanges you always select read-only. That way nobody can trade on your behalf.
Overall, we think CoinTracking is very safe but for those who are super paranoid it may not be enough. Some people would only be happy with a local solution rather than something that runs online, so far we haven’t seen anything like that. Let us know in the comments below if you have.
How to use CoinTracking
Now it’s time for a CoinTracking tutorial. I’ve been using it for a while so I’ll run you through some of the main features and how to go about using them. Note, this is a demo account and not my real crypto portfolio.
The CoinTracking dashboard is a pretty thing to look at and is your command centre for your crypto portfolio. Just look at all that useful data on one screen!
There isn’t really much to do here but you can customize it for your preffered currency or timeframe, I personally like to see a 30 day trend since things are so volatile and quite meaningless in 24 hours of crypto (unless some crazy shit happens). You can also adjust your balance graph to show different data e.g. a logarithmic version (which always looks better during the current bear market).
Next up is the reporting section, which is my favourite. As you can see from the drop-down menu, the options are seriously extensive. You could spend hours looking through all these reports and charts. Depending on what you need, some of them will be more useful to you than others.
In this review I will show you the realised and unrealised gains report, since I find this one the most useful. As you can see below, this report is extremely useful if you are trying to make a decision about whether to sell a cryptocurrency or not. You see, most people actually have no idea if they are at a profit or a loss with their trades but CoinTracking will show you exactly where you stand. All unrealised gains will be calculated on the remaining amount (unless you change the settings), normally you would have to work this all out in your head but here you have it done for you. If that isn’t worth the price then I don’t know what is.
Importantly, you can also change the currency that gains are calculated on. Any cryptocurrency trader worth their salt would know that you should probably calculate your gains in BTC rather than a fiat currency. Otherwise, you are probably being mislead and trading back into Bitcoin at a loss rather than a gain, this is a very common mistake that novices make but CoinTracking has your back here.
As you can see below, the number of supported exchanges is quite extensive and the most popular ones are all there. I just wish they would add support faster for the newer ones, I quite like trading on Bibox, Kucoin and IDEX. It’s relatively easy to export the data and enter it manually though (unless you do tons of trading).
I won’t go into full detail about how to import your trades because you will be guided through step by step on the CoinTracking.info website anyway. You can, however, see below that it’s pretty damn easy, you just need to export your trading history CSV from the exchange (in this case, Binance) and then upload it to CoinTracking. It will then do all the hard work and bring in all the transactions and analyse everything for you.
Another really nice feature of CoinTracking is the ability to import transactions from your wallets, this means if you buy something with Bitcoin (yeah some people do) then that would be reflected in your reporting. Below you can see how to export your transactions from blockchain.info and then import them in ready for reporting.
CoinTracking can even automatically import transactions from Bitcoin and Ethereum wallets (shown below) as well as other altcoins. This is really cool since it’s likely you aren’t doing all your transactions on the exchange. You may be moving funds around, paying for things, giving away some crypto for friends or for you crazy folk, you may be investing in ICOs. Well if you link your Ethereum address it’s going to see that contribution to the latest ICO and then when your shiny new tokens are sent to you it will also automatically pick that up. Pretty neat huh?
Charts and Trends
As you would expect, CoinTracking has a full list of cryptocurrencies along with the current prices and tends. This is quite similar to CoinMarketCap, so it’s hardly an amazing feature but nice to have when you can just stay on the same site for all your crypto needs. Other cool areas of this section include coin charts, a currency converter and even more interesting is user statistics of people using CoinTracking. You will be able to see information such as how many bitcoins the average user has or the value of their portfolio, are you in the 1%?
Finally, there is the Bitcoin analysis section, including an experimental Bitcoin price forecast. I can’t say I put much weight into this thing, I haven’t tested it but it’s pretty interesting nonetheless. If you’re looking for some indicator of Bitcoin’s price movement it may be just as useful as any chart “expert” on Twitter 😉
I am impressed at the below though, CoinTracking must have some smart dudes working there because Google Trends is a serious tool when it comes to predicting sentiment. If you check back at past data you could see in hindsight that a falling Google trend for the search term “buy bitcoin” towards the end of 2017 could have predicted the coming bear market. Unfortunately, I didn’t notice it back then, despite myself being an internet marketer by trade. Cointracking provides a nice chart (shown below) displaying the trend data for the search terms Bitcoin, BTC, blockchain, cryptocurrency and Ethereum all in one easy to compare chart.
Finally, what many of you may have been waiting for is the tax report. As you can see below the options are quite extensive and this will work for every country because you can select the right settings such as the method of counting e.g. FIFO or LIFO, tax rate and the tax year along with other options. It will then allow you to produce a nice report ready for your accountant to file and pay your taxes like a good honest citizen. Of course, in a perfect world, we don’t have to pay tax on this stuff, it is none of the government’s business but that’s another story. Many of us, unfortunately, live in countries where the government needs their share and paying up is better than going to jail.
The CoinTracking App
For those that love to compulsively refresh their Blockfolio app on their phone and feel they might miss out by using CoinTracking, well don’t worry because you can hook your account up to their Android and iPhone apps. As you would expect, it’s not as simple as Blockfolio but it does look beautiful and has all the powerful features of the website right in the palm of your hand. It even has widgets for the really crypto obsessed of us, yes I’m looking at you.
If you haven’t realised already, we at Crypto.Review love CoinTracking, they provide a full-featured, beautiful way to track all your crypto investments and transactions. Generate more reports than you can throw a stick and help you get around the headache of paying taxes on this stuff. Not only that, but these guys are always working behind the scenes to provide more cool features, that’s something we always like to see. Their shiny new app is the latest addition.
If we convinced you then go ahead and click here to sign up with a nice 10% discount. If we didn’t convince you then you must be nuts and you should probably sign up anyway for the free account to see what all the fuss is about.