In the world of cryptocurrencies, having a dependable platform to manage your digital assets, keep track of your investments, and handle tax reporting is crucial. CoinTracker and CoinTracking are two well-known choices for achieving these tasks, each offering tools tailored to assist crypto investors with important tasks.
In this article, we’ll conduct an in-depth examination of CoinTracker and CoinTracking, focusing on their main features, user-friendliness, pricing options, customer support, and security protocols. This guide was made to help you track and report tax on your crypto profits and assets.
By the time you finish reading, you’ll be better equipped to decide which platform best fits your cryptocurrency investment and tax reporting requirements.
CoinTracker vs. CoinTracking: Which is Best?
When it comes to reporting taxes for cryptocurrencies, there are two well-known options: CoinTracker and CoinTracking. We compare these two tools and give you an honest review from experts. These platforms have features designed to help investors and businesses handle the complexities of crypto regulations and taxes. If you want to avoid getting in trouble for not paying taxes, it’s important to handle your crypto taxes correctly. You have to manage your crypto compliance carefully.
Before you choose the right tax tool, it’s smart to carefully look at what each platform offers. This way, you can make sure you pick the one that’s right for your needs. Once you’ve done that, you can easily report your digital currency holdings and trades accurately and quickly to your tax office.
But first, let’s take a quick look at what each platform offers.
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What is CoinTracker used for?
CoinTracker is a great software for managing your cryptocurrency taxes and keeping track of your investments. It does a bunch of complicated stuff automatically, like figuring out how much money you made or lost on your crypto trades and filling out tax forms for you.
One of the best things about CoinTracker is how easy it is to use. The website looks nice and it’s simple to find what you need. Plus, it works with all the best crypto exchanges, so you don’t have to worry about missing any transactions.
With CoinTracker, you can see exactly what’s going on with your crypto assets. It shows you your transactions, how much crypto you have, and even how much tax you might owe. This makes it easier to make smart choices about your investments.
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BOOK EXPERT COACHING NOWWhat are the benefits of CoinTracker?
CoinTracker is easy to use, connects automatically to your exchange and wallet, and gives you detailed reports for tax purposes. You can also see how much money you’ve made or lost. Plus, it works with over 3,000 different cryptocurrencies, so it’s really versatile and useful for managing your portfolio.
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CoinTracker has partnered with Coinbase and TurboTax
CoinTracker offers a significant benefit because they have partnered with Coinbase and TurboTax. This simplifies the process of calculating and filing cryptocurrency taxes. This partnership allows you to easily import all your transactions from Coinbase or Coinbase Pro and determine your cryptocurrency tax liability. Additionally, you can directly import your transaction history into TurboTax online. This means that once you import your data, the capital gains you’ve earned will be automatically included in the calculation of your overall tax return. This makes CoinTracker unique and a good pick for serious investors.
CoinTracker Review
What is CoinTracking used for?
CoinTracking.info is a website that uses blockchain technology. It helps people keep track of their digital money, manage their investments, and understand more about how cryptocurrency mining works. This tool can show you in real-time how you are doing, and it works with popular cryptocurrency trading platforms like Coinbase, Binance, Kraken, KuCoin, and Gemini.
CoinTracking has lots of helpful and unique features. You can customize your dashboard, and the app itself is designed to be simple and easy to understand. It’s a top choice for people who are seriously into cryptocurrency.
With CoinTracking, you can stay on top of your cryptocurrency investments. You can learn about profits and losses, and understand more about how your overall investment is performing. The app is easy to use, accurate, and thorough all work together to give users a really good experience. It’s a great tool for managing your cryptocurrency investments!
What are the benefits of CoinTracking?
CoinTracking is more of a tracking tool compared to CoinTracker. It can help you monitor your portfolio, import trades automatically, and analyze coins. On top, of course, you can also create a tax report. With its easy-to-use design, it supports over 10,000 cryptocurrencies and works with more than 75 exchanges. CoinTracking’s strong reporting features and mobile app make it convenient and accurate for managing your crypto investments.
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Special CoinTracking Deals and Offers
A special feature of CoinTracking is their deals and offers from Partners like BitBox, Taxdown, or Binance, where you get a 10 % or even 20 % discount on wallets, paid plans, or first crypto exchange orders.
CoinTracking Review
Key Features of CoinTracker and CoinTracking Compared
Now that we’ve got the basics down for CoinTracker and CoinTracking, let’s dive into what makes each of them unique and stand out. We’ll take a closer look at their main features and compare how they work and feel for users like you.
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CoinTracker’s USPs
- Easy Tax Reporting: CoinTracker’s tax software makes reporting crypto taxes simple, saving you time and effort. It tracks your transactions automatically, calculates capital gains, and generates tax forms like Schedule D.
- Seamless Connection to Exchanges: CoinTracker connects smoothly with popular crypto exchanges such as Coinbase, ensuring that your portfolio information is accurate and complete. You can effortlessly import transactions and monitor your crypto assets in real-time.
- Complete Portfolio Support: CoinTracker’s portfolio assistant offers valuable insights into tax implications, capital gains, and transaction history. This helps you manage your crypto portfolio effectively, make informed choices, and optimize your tax strategies.
CoinTracking’s Unique Features
CoinTracking offers some other cool features that can help you understand your crypto portfolio better. First off, they have a customizable dashboard and a great learning platform, and you can dive deeper into how your portfolio is doing.
Another neat thing is that it works with lots of different crypto exchanges like KuCoin, Kraken, Gemini, and Binance. So no matter where you’re trading, you can keep track of everything in one place.
And when it comes to managing your portfolio, CoinTracking has you covered. You can easily see how much you’re making or losing and even keep track of taxes. It’s like having a personal assistant for your crypto investments!
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BOOK YOUR LIVE SEMINAR NOWComparing Ease of Use
Ensuring that the interface is easy to understand and navigate is important when managing your cryptocurrency investments and handling tax reports. Let’s take a look at how easy it is to use CoinTracker and CoinTracking and see which one might be better for you to use.
User Interface of CoinTracker
CoinTracker has a very simple and easy-to-use design that makes it super easy for people to move around the app. When you open it up, you see a main screen that gives you a quick look at all the cryptocurrencies you own, any transactions you’ve made, and any taxes you might owe. This helps you make smart choices about what to do with your money. You can find all this info with just a few clicks. The app’s design is so easy to understand that it makes you feel confident using it. Plus, it has accurate info, which makes it safe to use. This means you can manage your cryptocurrency without any trouble at all!
Get the CoinTracker App on Google Play or Apple Store
User Interface of CoinTracking
CoinTracking has a customizer tool that lets you change how things look on the screen. You can make your crypto portfolio, mining stuff, and tax details show up just how you like. You can even change the font to make it easier to read. Plus, the app makes sure everything you see is correct and up to date. It’s well-designed and helps people keep track of their crypto money and make smart choices about investing.
Get the CoinTracking App for Google or Apple devices
Pricing Plans: CoinTracker vs. CoinTracking
Understanding how much it costs to use a crypto portfolio management and tax reporting platform is very important. Let’s take a closer look at the different pricing options offered by CoinTracker and CoinTracking so we can see how they stack up against each other.
CoinTracker’s Pricing
CoinTracker has different pricing options designed for various sizes of cryptocurrency portfolios. There’s a free option that works well for people with smaller portfolios. It lets you track up to 25 transactions without any cost. But if you have a bigger portfolio or need extra features, there are other pricing plans available at reasonable prices.
If you want software to handle your tax reports only, then the Base plan for $59/year is the right one for you. But if you need all the powerful tools to optimize your taxes and your portfolio performance, then their Ultra plan for $599/year is what you have to invest. All plans depend on how many transactions you need to track and what advanced features you want. CoinTracker helps users manage their taxes and portfolios effectively without breaking the bank.
CoinTracking’s Pricing
CoinTracking offers different pricing plans that you can choose from depending on the size of your crypto portfolio and the features you need. They offer a free plan but limit you to 200 transactions. If you are a more advanced investor, then you can pick a Pro, Expert, or Unlimited plan. The Pro plan is about $130/year and their Unlimited plan is selling at $770/year.
Sure, CoinTracking is more expensive than CoinTracker. But you can pick the plan that fits your needs best to manage your portfolio and make sure your tax information is accurate and complete. On top, CoinTracking gives you a helpful tool to manage all your crypto investments and taxes at prices that are fair compared to other options.
Customer Support: A Comparative Analysis
When you’re using a platform to manage your cryptocurrency portfolio and handle tax reporting, it’s really important to have good customer support available. Let’s take a look at how the customer support from CoinTracker and CoinTracking compares.
Support Services offered by CoinTracker
CoinTracker is dedicated to helping its users every step of the way. They are always available to make sure you have the support you need. The platform offers dependable customer service that helps you navigate through tax rules and manage your investment portfolio. They also promise to respond quickly and give you the tools and information you need to stay on top of your crypto taxes. Whether you have questions about tax reporting or need help with your portfolio, CoinTracker’s support services are designed to help you manage your crypto taxes with ease.
How does CoinTracking fare in customer support?
CoinTracking knows how important it is for users to get help when they need it. They offer different ways to get support, so you can reach out if you need assistance. They listen to what users have to say and work hard to constantly make their support services better. CoinTracking wants to help crypto investors deal with tax issues quickly. Sometimes, it might take a while to hear back, but their support team is dedicated to giving each user the help they need.
Security Measures: A Side-by-Side Comparison
Crypto security is the most important thing when dealing with cryptocurrencies. Therefore, we have to compare the security measures taken by CoinTracker and CoinTracking to safeguard your crypto assets.
Crypto Security features of CoinTracker
CoinTracker places a high importance on keeping users’ cryptocurrency safe and uses strong security measures. The platform has various security features like encryption, two-factor authentication, and wallet tracking to ensure users are secure. CoinTracker also integrates with APIs to securely sync transactions and cryptocurrency holdings from different exchanges, making it easy to track portfolios. Users can rely on CoinTracker to protect their digital assets, giving them peace of mind to concentrate on managing their portfolios and improving their tax strategies.
Is CoinTracking secure enough for your cryptocurrency investments?
CoinTracking takes extra steps to keep your cryptocurrency investments safe. They use special security measures like encryption and two-factor authentication. This helps protect your information even more. CoinTracking knows it’s really important for users to have a safe place to manage their investments. They offer helpful tools like mining insights and detailed portfolio analysis. With CoinTracking, investors can make smart choices about their money while knowing it’s being kept safe. You can trust CoinTracking to look after your cryptocurrency investments and feel confident in the fast-changing digital world.
Conclusion
In summary, both CoinTracker and CoinTracking offer unique benefits. CoinTracker is perfect for beginners and experienced users alike, thanks to its easy-to-use interface and wide range of features. Meanwhile, CoinTracking is the best if you need advanced portfolio tracking and tax reporting. It is a top choice for those needing in-depth analysis. Ultimately, your decision should be based on your specific needs and preferences. Whether you value simplicity or advanced capabilities, it’s essential to evaluate your requirements and choose the platform that best fits your goals.
If you need further assistance, feel free to reach out to us. We’re here to help you navigate the world of cryptocurrency tracking and tax reporting.
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FAQ
Does CoinTracker report to IRS?
CoinTracker helps simplify tax reporting by offering a tool to create reports for the IRS. These reports detail gains and losses from cryptocurrency transactions. CoinTracker supports various accounting methods like FIFO and LIFO to ensure accurate tax calculations. It’s important to seek guidance from a tax professional for precise reporting.
Is CoinTracker free for Coinbase?
CoinTracker has a free option where you can track up to 25 transactions. But if you want to connect it to Coinbase, you’ll need to choose one of the paid plans. The prices start at $59 per year. With these plans, you get more features and information about taxes, which can help you handle your cryptocurrency investments better. If you’re unsure about committing to a paid plan, you can try out the premium options for free before deciding.
Which Wallet works with CoinTracker?
You can use almost any cryptocurrency wallet of your choice. Some of the best and recommended wallets are Trezor or Ledger hardware wallets, or Exodus if you prefer a self-custody hot wallet.
Is CoinTracking a legitimate site?
CoinTracking is generally considered a legitimate site for cryptocurrency portfolio tracking and tax reporting. It offers various features and has a sizable user base. However, you should exercise caution and conduct your research to ensure it meets your security and privacy standards before using it for sensitive financial information.
How does CoinTracking work?
CoinTracking is a cryptocurrency portfolio tracking platform that aggregates data from exchanges and wallets. You can import transactions, track profits, and losses, and generate tax reports. The platform employs APIs and CSV uploads to automatically update and categorize transactions, providing you with comprehensive insights into your cryptocurrency holdings and trading activities.
