CoinTracker Assessment 2023 | The Faculty Investor

CoinTracker has made it a degree to ‘wow’ its customers from the start. As a substitute of providing a easy crypto monitoring platform, you’ll discover important tax monitoring instruments that set it aside from the group. 

Plus, the intensive dashboard reveals details about your crypto belongings, together with real-time costs, historic knowledge, deposits, withdrawals, market caps, and efficiency particulars. 

At the moment, $20 billion in crypto belongings is tracked by way of CoinTracker. They’ve come a good distance since Chandan Lodha and Jon Lerner based the corporate in 2017.

When you have a cryptocurrency portfolio, then CoinTracker.io gives a collection of options. Right here’s a better have a look at what stands out.

CoinTracker offers a pockets and change monitoring function. With CoinTracker, you possibly can join your cryptocurrency wallets to observe incoming and outgoing transactions. The monitoring can monitor over 300 wallets, together with Ledger, Coinbase, Binance, and TrustWallet. 

At the moment, CoinTracker gives integration with over 8,000 crypto belongings so your crypto portfolio will probably be supported by this platform. It additionally companions with platforms like OpenSea to make sure large help for NFTs.

Probably the most notable downside is that it at the moment lacks help for Solana wallets.

CoinTracker helps you keep tax compliant. When it’s time to file your taxes, all you need to do is obtain your tax report in a couple of minutes in your submitting. CoinTracker now has integrations with each TurboTax and TaxAct.

The platform routinely optimizes value foundation accounting strategies to permit for seamless tax-loss harvesting. Plus, the elevated visibility into these particulars will help you make extra clever trades to reduce your tax liabilities. 

When constructing your cryptocurrency portfolio, staying tax compliant is crucial. Sadly, it may be complicated to trace these particulars by yourself. Fortunately, CoinTracker takes care of this chore for you. 

Charge Monitoring

Anybody who’s traded crypto is aware of that charges might be costly.

With CoinTracker, you possibly can simply see the charges you pay per transaction and change. This info will help you alter to reduce the prices of buying and selling crypto belongings.

CoinTracker is offered on the Apple App Retailer and the Google Play Retailer. This implies you possibly can rapidly examine in along with your portfolio and real-time costs on the go. 

The cellular app is extremely rated by customers, incomes 4.7 out of 5 stars on the Apple App Retailer and 4.2 out of 5 stars on the Google Play Retailer.

The one draw back of CoinTracker is that it may be extraordinarily costly when you have a lot of transactions.

Relying on the variety of transactions you will have, you could possibly rapidly end up in a Premium tier plan.

CoinTracker is one in every of a number of crypto portfolio monitoring choices. However the tax options built-in into this platform set it aside from the group. In case you are uninterested in managing your tax accounting duties for cryptocurrency, then CoinTracker is a wonderful choice. 

Koinly can also be aggressive with CoinTracker’s choices and a crypto tax software program favourite. 

Listed here are different monitoring choices on the market that may additionally assist with tax prep:

The method of opening a CoinTracker account begins at CoinTracker.io. Click on the ‘Get Began’ button. You may breeze by way of your account setup when you have a Coinbase or Google account that you’re keen to attach with. If not, you’ll want to offer an e mail. 

After you present an e mail, you possibly can add exchanges and wallets. Moreover, you’ll must safe your account by organising your two-factor authentication particulars. 

That’s it! You may add extra wallets and exchanges as wanted.

Is CoinTracker Secure And Safe?

CoinTracker makes safety a precedence. As a rule, the platform won’t ever ask you in your personal keys. As a substitute, info from crypto wallets is included by way of a read-only setup. You may arrange read-only API integrations at most main corporations.

The complete platform makes use of SSL encryption. Plus, there are two-factor authentication necessities for tokens. 

Lastly, CoinTracker states that it’ll by no means promote your knowledge to a 3rd social gathering. With all of those safety features, you need to really feel snug working with CoinTracker.

options, you need to really feel snug working with CoinTracker.

CoinTracker is our favourite total cryptocurrency monitoring platform, going face to face with Koinly as a best choice. As a result of plans rapidly add as much as a whole bunch or 1000’s of {dollars} per yr, it’s as much as you to determine if CoinTracker is value the price.