CoinTracker Review 2022: Pricing, Plans, and Features

The CoinTracker platform provides assistance in maintaining an overview of your crypto portfolio. The software can easily import information from various crypto wallets and provide the reports required for filing taxes related to crypto investments.

  • November 17, 2022
  • 23 Min Read

Our Take on CoinTracker

4.5
DeFi Rate Rating

The Bottom Line:

Crypto trading involves plenty of research, work and, quite often, keeping track of a large number of crypto accounts and wallets. CoinTracker does an excellent job of consolidating all of this information and providing valuable updates and tips to investors. All of this data is used by the platform to generate the appropriate tax forms for your tax return, which it can easily share with tax preparation software services. All of these features provide invaluable help for the modern crypto trader.

As crypto investing moves deeper into the mainstream, various tools are here to make the process more accessible than ever. One of these is CoinTracker. You can think of it as an all-in-one virtual accountant and assistant.

CoinTracker is a great way to keep track of your portfolio and provides all the tools required to easily file your taxes related to crypto transactions. In this article, we’ll find out how the platform works and how to best utilize its potential.

CoinTracker Overview

Pricing$0–$199/year
Integrations300+ such as Coinbase or Gemini
DeFi SupportYes, all tiers
NFT SupportYes, via wallet scan and OpenSea
Tax Loss HarvestingYes, all tiers
Tax IntegrationTurboTax and TaxACT

What is CoinTracker?

What if you could have someone monitor all your crypto trading activities, calculate your tax liabilities, and also provide tips to save you money? CoinTracker is designed to function similarly to a virtual crypto assistant charged with keeping track of all of your crypto investments, as well as assisting with filing crypto taxes.

But, is it expensive? The bare-bone functionalities of the service are free to use such as cost basis and capital gains, and error reconciliation, as well as forum support. Meanwhile, Premium features can be unlocked for a discounted price of $179. These will report a higher number of transactions, provide tax summary by wallet type, margin trading reporting, and more

CoinTracker Review

CoinTracker’s most significant selling point is that it can connect flawlessly to a variety of wallets and exchanges through APIs. If your wallet or exchange platform doesn’t have API integration, you can also download your transactions in a CSV file and upload it to CoinTracker to extract the data. Extracting data from multiple wallets and exchanges either way makes it easy to monitor your transactions and fill your tax forms.

The platform offers other features related to market activity, privacy, and security, as well as tax loss harvesting opportunities. Is this the kind of assistance that you need? Let’s see how it all works.

How Does CoinTracker Work?

CoinTracker allows its customers to easily import their information from various platforms where their crypto is stored via:

  • .CSV file imports
  • Entering them as manual transactions, or importing the transaction history (e.g. Binance)
  • Syncing transactions by API or by trading report

CoinTracker then offers a clear snapshot of a user’s entire portfolio (it supports over 8,000 cryptos such as BTC, ETH, USDT, BNB) and continues to monitor your performance. Finally, it instantly generates tax reports for filing your crypto taxes.

Some of these tax reports include:

  • Form 8949
  • Schedule D
  • Form 1040
  • Schedule 1

The tax softwares that CoinTracker integrates with include:

  • TaxAct
  • TurboTax
CoinTracker Review

All of these tools can quickly help improve a crypto user’s behavior, helping them become more responsible and better informed.

CoinTracker New 2022 Features

While the majority of CoinTracker’s essential features have already been established, a few notable updates have been added to the platform in 2022:

  • CoinTracker has partnered with NFT marketplace OpenSea, easing difficulties in filing taxes related to trading of Non-Fungible Tokens
  • It has introduced token tracking for the ERC-1155 standard
  • It has partnered with additional crypto platforms such as Blockchain.com and Bittrex to support transaction imports through APIs.
  • Crypto tax compliance and portfolio tracking services have been added for India

Who Can Use CoinTracker?

Generally speaking, CoinTracker can be helpful for citizens of any country, especially in terms of helping calculate taxes, gathering info, and drawing up reports. However, the crypto tax features are specifically optimized for the U.S., the U.K., Canada, Australia, and, more recently, India. CoinTracker provides specialized support for these territories and easily integrates with revenue calculation software, such as TurboTax.

All the same, crypto users from across the world can find benefits in CoinTracker’s assistance. In relation to taxes, specifically, the software’s ability to import information from a variety of wallets and accurately provide detailed reports can significantly decrease the effort involved in filing tax returns.

Can You Try CoinTracker for Free?

CoinTracker offers most of its essential features for free and further add-ons for paid accounts. The free account allows users to track up to 50 transactions. This type of account is currently dubbed The OpenSea plan. It provides info related to crypto cost basis and capital gains, as well as error reconciliation reporting and customer support. Furthermore, users can sync up all of their wallets, generate tax forms, and receive cryptocurrencies.

The CoinTracker platform at the moment advertises heavily its Hobbyist and Premium accounts, priced $59, and $199 respectively. Currently, discounts are in place as well as a 30-day money-back guarantee policy. The Premium account tracks up to 1,000 transactions across all wallets and provides assistance in regards to margin trading and DeFi functionality.

Of course, companies looking to use the CoinTracker service may opt for the Unlimited plan. This includes an unlimited amount of transactions that the software can track, as well as specialized assistance such as concierge support, and various customized features. This type of plan is priced individually.

CoinTracker Pricing and Plans

PlanPriceTransactions LimitIntegrationsAdditional FeaturesCustomer Support
Free (OpenSea Plan)Free50300+FIFO, LIFO, HIFO, AS,ACB (Cabda), portfolio tracking, cost basis & capital gains, portfolio trackingForum Support
Hobbyist$59/year100300+Same as Free AccountForum Support
Premium$199/year1,000300+Margin Trading, DeFi Functionality, Tax Summary by WalletForum Support
UnlimitedPriced individuallyUnlimited300+Customized FeaturesConcierge Support

Casual crypto traders may be happy with the features that come with the free account. However, for many, this type of account will merely be a way to acclimatize themselves to the services provided by CoinTracker. This account type allows users to track up to 200 transactions and import 5MB per CSV file. In spite of this, there’s no option to import information automatically or link multiple accounts.

Advanced investors who have already amassed a good deal of digital assets may look at the Hobbyist and Premium account types. The former, ideal for those dipping their toes in the world of crypto investing, lets users track up to 100 transactions, and offers cost basis info, as well as general support.

The Premium account helps track 1,000 transactions and offers additional assistance in regards to margin trading, DeFi, and provides a tax summary by wallet type. Note, that all types of plans on CoinTracker come with unlimited auto-sync of info from wallets and exchanges.

Finally, the Unlimited account is ideal for professional investors who need to keep track of an extensive portfolio of assets and who face significant responsibilities in regard to filing tax reports for each of these.

This type of account can track an unlimited number of transactions (starting at 3000), allows integration with an unlimited number of wallets and exchanges, provides support, and has a 30-day money-back guarantee.

CoinTracker Integrations

CoinTracker’s mission is to help reduce the burdens of accurately tracking the ebbs and flows of a complex crypto portfolio, as well as filing tax reports for those digital assets. In order to work efficiently, the software has over 300 integrations. These make it easy to track and import information regarding owned crypto assets and use this to file the appropriate reports. Let’s take a look at the most significant of these.

Tax Software

CoinTracker Review

CoinTracker is useful in ensuring that its customers stay compliant with tax regulations. The software is designed to gather the required information, automatically optimize the accounting process, and provide reports that can be used to file tax returns. Since the software integrates with both TurboTax and TaxAct, the process of supplying the required information becomes seamless.

By receiving an in-depth look into how the software creates these series of optimizations, such as tax-loss harvesting, crypto traders are offered invaluable information that can help them make better decisions.

The process is simple. CoinTracker automatically consolidates and arranges the information regarding your assets based on the information that has been imported. Users can customize their settings, for example, to include a debugging feature, or add a tax professional to verify the information. At the end of the specified period, users can download a tax report and use the integration feature to share it.

Exchanges

Since it began operations in 2017, CoinTracker has steadily integrated the majority of well-known crypto exchanges. The platform’s aim is to become the best-trusted software for tracking crypto losses and gains, as well as for filing tax returns.

At the moment, CoinTracker has integrations with over 300 exchanges and wallets, letting you import data from them through APIs or CSV uploads. It has integrations with some of the most popular crypto platforms like Gemini, Coinbase, Kraken, Bitpanda, and Binance US.

Through this integration, the software can easily access transaction information from the custodial wallet of the exchanges. CoinTracker is also easily able to verify trade details related to over 800 cryptocurrencies.

Wallets

CoinTracker Review

Besides being able to gather data from your accounts opened with various exchange services, CoinTracker is also able to import and monitor activity on a number of crypto wallets. This includes both hot (Coinomi, Electrum) and cold wallets (Ledger, Trezor).

The primary thing you’ll need in order to pair your wallet with CoinTracker is the wallet’s public address. Transactions are transparent and freely accessible on the blockchain, so CoinTracker can import them from any address instantly. For more details, check the site’s guide about how to add a new wallet.

Once the addition has been made, the crypto data will show under the Wallets tab and will automatically sync up with the latest transaction information. This will also be added to the Portfolio section.

NFT

CoinTracker Review

It’s no secret that Non-Fungible Tokens (NFTs) have become very popular. Some of them have been known to trade for millions of USD. Naturally, NFTs have become an essential part of many crypto investors’ portfolios. CoinTracker, since October of 2021, has been able to verify essential information about these digital assets and add this to your portfolio.

The largest NFT marketplace in the cryptosphere is OpenSea, and it has API integration with CoinTracker. To link your account, you’ll need to request an API key from OpenSea and input it on your CoinTracker dashboard. CoinTracker also allows users to add transactions from other types of NFT wallets through the wallet’s public address.

DeFi

CoinTracker Review

Similarly, CoinTracker has integrations with many DeFi platforms, such as Compound, Uniswap, Maker, and Synthetix.

The types of transactions that are handled through DeFi, and which may be taxable include:

  • Lending
  • Borrowing
  • Paying and earning interest
  • Yield-farming
  • Earning governance tokens
  • Airdrops/forks
  • Paying transaction fees

In order to add DeFi details, users will either need to export the .CSV files and import them (such as with Synthetix), while with others, the requirement will be to scan the wallet addresses (Compound, Uniswap) in order to gather the necessary info.

CoinTracker Crypto Tax Services

As previously noted, one of the primary purposes of CoinTracker is to make filing crypto-related taxes a straightforward task. For this purpose, the platform integrates seamlessly with TurboTax and TaxAct, two of the principal tax preparation software available on the market.

Both of these have been customized to handle users’ crypto information. TurboTax, for example, can import info related to over 400 crypto coins and from all of the major crypto exchanges.

CoinTracker Review

To draw out your detailed report, you will need to visit the Tax Center in CoinTracker. Using TurboTax or TaxAct, you can easily import the information and break it down into separate categories related to short and long-term capital gains and income. This information is then used to calculate a user’s crypto tax liability. This report can be imported back into CoinTracker and used to file tax reports.

CoinTracker Review

Besides this, CoinTracker allows its customers to add a tax professional to their account in order to verify that the tax report is correct. They can do so by simply adding their email to the account. Furthermore, the platform is set to add the Preview Tax Impact feature, which will offer customers a better impact on the tax implications of their trades.

CoinTracker also includes a large number of helpful guides on how to use the services. Contacting customer support can be done through the website’s contact form, by mail or by interacting with the team via their Twitter account.

Portfolio tracking

CoinTracker Review

The Portfolio Tracking feature allows CoinTracker to assist users in offering them an overview of all of the crypto assets. In order to do this, as previously mentioned, users need to first sync their wallet information.

The feature supports more than 300 cryptocurrencies, together with NFTs and DeFi assets. It also is able to import information from all of the significant cryptocurrency exchanges. The number of assets that can be connected to the account differs based on the subscription plan of the user.

Besides all of this, a portfolio is a great tool that can be used to monitor one’s development as a crypto trader. The Performance tab monitors trade activity, while Crypto Prices provides updates about the value of various crypto assets. All of this information, together with the way that it is organized, makes filing end-of-the-year tax reports an uncomplicated process.

At the moment, CoinTracker also has included a number of subscription options focused on portfolio management.

CoinTracker Review

Tax loss harvesting

CoinTracker also provides support for tax loss harvesting crypto. This feature permits losses from trades to be offset against certain gains for tax purposes. The service highlights unrealized tax loss harvesting opportunities for various crypto assets.

Optimizing your taxes to lower your tax burden can be a wise move. For example, tax loss harvesting can allow a user to sell their crypto assets at a loss in order to offset tax expenses. It’s a process that takes minutes to complete and can have a significant impact on the amount that they need to spend.

Let’s look at an example. If a user had decided to buy Ethereum in January of 2022, they might have done so at a price of $3,000 per unit of ETH. At the time of writing, the price of the same asset is $1,600.

For the sake of argument, we are going to assume that the price remains the same by the end of the tax season. The harvestable losses are a difference between the price at which they bought the asset and the current price. This means that they can save $1,400 in harvestable tax losses.

Invite Your Tax Professional

CoinTracker knows that the majority of its users may want to take advice from a licensed accountant. This is why the platform makes it easy to share information with a tax professional.

All a user needs to do is add the accountant’s email address and send an invite to view the tax report drawn out by the platform. The accountant will be able to view or download the report.

Accountants can also use CoinTracker as a tool with which to interact with their customers. For this, they will need to set up a CoinTracker admin account.

They can use this to administer the crypto trade information of their customers and to have more control over the information that they will be sharing with tax authorities. The tool can also be used to invoice customers and offer priority support.

CoinTracker Crypto Tax Reports

CoinTracker makes it easy to track crypto trade activity, and the software automates reports required for filing tax returns. Some of these include

  • Audit Trail Report: Also known as Roll Forward, this report contains bought and sold currencies, together with the start and end balances for the assets of a period of time.
  • IRS Form 8949: This form is used to report sales and exchanges of capital assets for tax purposes. Once you have inputted all of your exchange and wallet information, CoinTracker will be able to generate Form 8949 automatically.
  • Short- and Long-Term Gains Report: This report shows earnings for owning an asset for more or less than 36 months. This is a report that CoinTracker can help you optimize.
  • Cryptocurrency Income Report: This involves reporting all crypto gains and losses. CoinTracker will help provide this report based on the information you have provided
  • Tax Loss Harvesting: Tax loss harvesting allows users to offset losses related to a crypto asset by adding them to this report. CoinTracker will highlight opportunities to do so for various crypto coins.

How Does CoinTracker Compare to Other Crypto Tax Services?

As crypto trading has more and more entered the public consciousness, various platforms designed to act as virtual assistants have appeared. CoinTracker faces competition from platforms such as TokenTax and CoinLedger that, like it, help provide an overview of one’s crypto portfolio and greatly automatize the process of filing tax reports.

Here’s the way that the essential features of CoinTracker compare to those of its prime competitors.

SoftwarePrice Per YearTransaction LimitIntegrationsTax SoftwareDeFi/NFT Support
CoinTracker$0 - $659.88/year200 - Unlimited+300TurboTax, TaxActBoth
TokenTax$65 -$3,499500 - 30,000+700TurboTaxBoth
CoinLedger$49 - $299100 - Unlimited+150TurboTax, TaxAct, H&R, Tax SlayerBoth

CoinTracker vs. TokenTax

TokenTax is one of the other major crypto-tax assistants available on the market. Unlike CoinTracker, it does not have a free account option, with subscriptions starting at $65 per year. There is no unlimited transaction feature either, with those capped at 30,000.

However, in terms of integrations, TokenTax, for the moment, proves to be more reliable with over 700. However, in terms of specialized tax software, TokenTax integrates only with TurboTax.

CoinTracker also supports a higher number of operating systems, including Windows, Android, and iOs. Still, while both platforms offer a large array of helpful documentation, only TokenTax provides webinars on issues related to taxes.

Lastly, it should be mentioned that both platforms have adapted to recent crypto trends, including NFTs and DeFi assets, both include tax loss harvesting optimization, and both are integrated with the majority of high-profile crypto exchanges. Learn more with our full TokenTax review.

CoinTracker vs. CoinLedger

Similarly to TokenTax, CoinLedger does not appear to have many free features at the moment. The Hobbyist account is priced at $49 and covers 100 transactions. Meanwhile, like CoinTracker, the Unlimited account covers and provides access to all of the website’s features. This is priced, however, at $299, lower than the option offered by CoinTracker.

Like CoinTracker, CoinLedger keeps track of your crypto portfolio and calculates your gains and losses using methods such as FIFO, LIFO, and HIFO. DeFi and NFTs are supported, and an error reconciliation tool is included for all types of accounts.

CoinLedger, however, offers permanent live chat support, while CoinTracker can only be reached via email and social media. Also, it supports over 10,000 cryptocurrencies.

Moreso, while CoinLedger has fewer integrations than CoinTracker, it works with a more significant number of crypto software platforms. This means that crypto traders who have grown used to Tax Slayer, or H&R, might prefer to continue utilizing those. Still, both platforms will provide, generally, the same kinds of tax reports. Learn more with our full CoinLedger review.

How to sign up for CoinTracker

Joining ConTracker and getting started is a simple process. Let’s look a the required steps:

Step 1: Visit the CoinTracker website and click on Try it free. You will be able to update your plan later.

CoinTracker Review

Step 2: You can sign up for the platform using a number of methods. Users can connect using their Coinbase account, which will give them additional features, or their Google account. Lastly, they can set up by using their personal email.

CoinTracker Review

Step 3: If you opt to connect using email, or your Google account, you will need to confirm the mail sent to your inbox.


Step 4: You should now have access to CoinTracker’s essential features, including its portfolio view. You can start syncing your crypto wallets which will import your crypto information to the platform. Also, from the Settings tab, you will be able to choose the currency in which you want your financial information to be reported. Don’t forget that you can also set up Two-Factor Authentication to further protect your account’s security.

CoinTracker Review

Step 5: Once you have added all of your crypto wallets, you should be all set. CoinTracker will continue to monitor the activity of your portfolio, offer helpful suggestions, and automate tax reports when you request those.

Final Thoughts on CoinTracker

In the fast-paced world of crypto trading, it is vital to keep track of one’s investments. CoinTracker is a good solution for maintaining an overview of your crypto portfolio and for using this information to easily file tax reports. The platform has been updated to account for DeFi assets and NFTs. Overall, CoinTracker can be an invaluable tool in finding success as a legitimate, responsible crypto trader.

Frequently Asked Questions

  • Can I Trust CoinTracker?

  • Is CoinTracker Owned by Coinbase?

  • How Much Does CoinTracker Cost?

  • Is There a CoinTracker App?

Contributors

  • Avatar of Eduardo Bănulescu

    Eduard Bănulescu is a freelance writer in the crypto space. He has collaborated with numerous publications that are focused on DeFI, Fintech, and Web3. Also, he runs and writes for his crypto, music, and sports websites that he owns and manages.

  • Avatar of Shannon Ullman

    Shannon Ullman is a senior editor for DeFiRate.com. Shannon specializes in cryptocurrency and personal finance. Her work has appeared in publications like The Motley Fool and Insider.