I've found the best way to keep track of my investmet, profits, losses and taxes

in #cryptocurrency7 years ago (edited)

Until today I was a huge fan of blackfolio (https://play.google.com/store/apps/details?id=com.blockfolio.blockfolio), the app where you can keep your coins. But I was always worried about entering the info by hand, and worst, I could get any insights from it.

But I saw a few days ago someone in youtube showing his portfolio in a new web I didn't know, and I started to investigate about it.

The website is CoinTracking.info, and with this site you managed your Bitcoin & Altcoin trades and analyzed all important key figures. Simple, secure, permanently free of charge. I have to say I am pretty happy about it.

I'll describe you my first impressions about it:

The truth is the most time you spend in crypto, the most difficult gets to follow and anderstand your portfolio. Even an Excel table must be maintained regularly and does not create an optimal overview anyway. This is where CoinTracking.info starts.

An overview: The CoinTracking offering
For advanced traders: Pro and Unlimited upgrades
Registration and initial steps
All trades in sight: Extensive analyzes with CoinTracking
Charts and user statistics
Security and service encryption, e-mail report and APIs
Bitcoin & Taxes: Fit for the next control
Conclusion

An overview: The CoinTracking offering

CoinTracking can be used without any time limit. Included in this usage is the tracking of trades and coins, a huge range of statistics (balance sheets per day, per exchange, per currency, profit / loss list, etc.) as well as stock market imports. These services are, however, limited to 200 trades in the free package; the capital income reports for the tax documents are limited to 100 trades. Also the automatic import via API is limited, just as the automatic wallet import for Bitcoin and Ethereum is limited to two wallets. The export to the formats CSV, XLS, PDF or even HTML is easily possible, also two Trades backups are included in the free package. In addition, CoinTracking is free of advertising for all users.

My assessment: The free package is perfect for beginners and casual investors! The same applies to long-term thinking strategists: buy, leave, but efficiently monitor, which is easily possible with the free version. If you are only interested in the maximum trades, we recommend simply linking several accounts, because this is actively supported by join code - very commendable:

For advanced traders: Pro and Unlimited upgrades

May it be more power? - No problem! CoinTracking offers a pro package: Instead of 200 trades, there are 3,500 trades into the reporting (including the tax reports), as many exchange and API imports are processed. The number of wallet imports grows in the pro package to five wallets!

For this, costs are also charged: For one year, the pro package costs 0.04 BTC, if you want to secure the package for two years, costs the 0.06 BTC. Also a lifetime version can be bought - which is for 0.1 BTC, thus about 340 dollars.

My assessment: In terms of the performance and the possibilities, the Pro version is recommended for all users, who are actively active with cryptic stimuli and do not want to lose their overview!

For professionals, there is the Unlimited package.

As the name implies, unlimited trades are included in this version, and 50 Wallets can be included. The site operators also promise prioritized caching, guaranteed access to all future features, and daily backups of all trades. The prices are about twice as high as for the pro package: One year costs 0.07 BTC, two years 0.13 BTC and the Lifetime account 0.51 BTC.

Bitcoin payers receive a five percent discount when purchasing Pro and Unlimited upgrades. The payment is possible by Bitcoin, Paypal or credit card.

Save 10% discount!
If you are interested in one of the paid packages, I recommend the registration via the following link:

https://cointracking.info?ref=T804843

So you get 10% discount on all your account upgrades - currently saving up to 200 dollars.

Registration and initial steps

So what do you have to do to use CoinTracking?
Very easy: register with username and password and you're done! The input of an e-mail address is optional, but is recommended because of a possible password reset. In addition, you will learn how the platform evolves by means of a newsletter. It makes sense!

The next step is to select the desired currency (usually euro); From the Swedish crown to the South African border, the website offers much more possibilities.

Now set the language: German, English, Spanish, Italian or Portuguese. Catalan and Russian are still in the beta phase. The developers are also working on a Korean, French and Chinese version.
The choice of the time zone is voluntary, but sensible.

Almost there! All you have to do is enter the trades you have already entered. This works by manual input or more conveniently by selecting the relevant stock exchange and importing the data values ​​via CSV file.

The big exchanges and wallets on the market can also be added automatically by API key:

All trades in sight: Extensive analyzes with CoinTracking

Now the really exciting part begins with CoinTracking: The analysis! CoinTracking can - import provided - display all our trades as a neat graphic or as a list. So you have your investment at all times in view.

However, the question of the current balance is more important for every cryptanal user. This is given in the form of a general overall balance, but can also be shown as a daily balance. If you want, the balance sheet can also be displayed per exchange or per currency.

My assessment: However, CoinTracking can do much more: to show the realized and unrealized profits, the average purchase price, the fees paid and many more. Interestingly, we also found the report " Short & Long ", which indicates which of our investments can be sold on a tax-free basis after one year (= Long).

Charts and user statistics

In the meantime, various charts and coin trends are standard on countless web pages, including CoinTracking.

A nice threading are the so-called user statistics. Here you can see how many Bitcoin the average user of CoinTracking holds in the portfolio (namely 72.7 percent at most 1 BTC, 0.24 percent and 98 users, respectively, over 1,000 BTC).

The value of the user portfolios as well as a profit-loss overview and others are also made available.

Security and service encryption, e-mail report and APIs

Security is, in my opinion, sufficiently taken into account: CoinTracking is SSL certified and encrypted; in addition, data is only analyzed or imported by API and thus read only. No access (username, password) to exchanges is needed! So stocks can not be manipulated. There is no two-factor authentication. For the reason just described, we do not consider it necessary.

Also recommended is the CoinTracking app and matching widgets. This is currently only available for Android devices and can be connected via Android mobile API key easily with your own account.

Anyone who wants to receive reports by e-mail (daily, weekly, monthly) - a nice service. Only the app is easier and more direct to handle.

Bitcoin & Taxes: Fit for the next control

On the subject of taxes: Which Porfolio shares can be sold without tax? The answer to this is provided by the above-mentioned report on tax-free coins . All tax-free (long) and taxable (short) coins are calculated for any date. All "Long Shares" must be indicated in the annual tax return, since all regular trades are considered a private sale and are taxed with the personal income tax rate (or 25% for geminte coins). CoinTracking with its tax report is a big help, even if the report should not replace a professional tax consultant. After some individual settings, however, you get a good overview of your own tax liability.

My assessment: With Cointracking.info one is well equipped for the next tax declaration.

Conclusion

CoinTracking.info has existed since April 2013 and has been constantly developed since then, most recently in the form of the tax report, the coin trend or the Altcoin Wallet import.

The input of your own data is intuitive and versatile possible. This applies equally to the entire page. Great for beginners and at the same time CoinTracking is versatile for advanced users. An outstanding administrative tool that every owner of cryptos should look at.

We also have the extensive free account for up to 200 trades as well as the moderate costs for which the program can be guaranteed for lifetime - even if the website is no longer available, you get the right for private and commercial use Via own server or installable version. This is a convincing product policy!

I have to add it has an app, and it shows you your portfolio, has blackfolio does, perhaps not so beautiful as blackfolio does, but it does it automatically :-)

If you would like to try out CoinTracking, please register for your own benefit via this link: https://cointracking.info?ref=T804843

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True. I have been using cointracking myself for last 4 months and it is pretty good.

Glad to hear it! It's always useful to use some tools to get better info :)

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I have been using CoinTracking for the past two years and all I can say are good things. One of the smartest customer support I've ever experienced. I've used about 4 other portfolio tracking, and none come close to what CoinTracking offers, usability and design is great.

The companion app is amazing as well. Now I can quickly see a snapshot of all my investments, regardless of where they are located, in one easy to use app.

Although the free version is good, import each CSV file from each exchange is time consuming, with the PRO version all your transactions are up to date with one time setup.

You can use my affiliate link which gives you 10% discount.

Hope this helps!

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Thank you @saywha! It's an honor coming from a steemit guru like you!

Wow! Very interesting. I must confess, i love this post. I will do some more research and come register with your link.

Thank you @akomoajong! First try the free version, and if you like it you can decide to move to the pro version. The great thing of the free version is you have the same functionality as in the paid one, but the automatization of trades. If you are starting or you don't have many trades it can be enough.

From the things I've seen, at the moment is the best one I found. The only thing missing is to have the great functionalities they have in web also in the app.

Looks pretty slick. Thanks!

Thank you for your words @mada! I'm still quite new here, so every tool I find to help me check my coins it's welcome :)