Cointracking.info Review 2021

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Cointracking is a tool that aims to solve to problem of keeping an updated record of personal investments and owned coins, commodities and currencies. The site allows to keep track of both fiat and cryptocurrencies but it is strongly focused on the latter and optimized for them.

The site was officially announced on May 30, 2013 by its founder, Dario. When it first came out, it supported 3130 existing currencies, a number which has raised to 6575 after more than 6 years of existence.

Registration is required to use the site, but anonymous accounts are possible and a live demo is available to quickly browse the site features without having to set up an account. Cointracking.info is currently available in English, German and Portuguese, with beta versions in Spanish, Catalan and Italian and ongoing translations into Korean (90%), Russian (55%), French (55%) and Chinese (55%). The theme can also be changed from the light default to a black-and-white dark layout.

To start using the site it is necessary to first load some data into it. You can input coin information either by hand or using any of the automatic APIs they have for the purpose. Everything required to add data is available through the “Enter Coins” menu, which is divided into 4 subsections.

Enter coins page: from here all the different importing methods can be accessed

The site is free to use with some limitations that will pass unnoticed for average traders. Those requiring higher limits are given the option to purchase upgrades (named unlimited and pro) which are less restrictive. Buying a life-time unlimited plan right now costs 0.52 BTC (regular price 0.72), being the most expensive purchase available on the site (which comes with nearly no restrictions). Prices and terms for each account (including the free tier) are detailed here.

Entering Coins

Data can be added by hand from the manual import page by clicking new and filling the form that pops up. A second alternative is to bring data from any of the 70+ supported exchanges including some with legacy support; the process varies depending on the exchange, but instructions for every one are listed under the “exchange imports” option.

The site also has seamless integration with some of the APIs offered by popular exchanges, which allows to import data by just entering an API key. The user can alternatively use an address and load all the transactions from it, with the possibility of choosing if importing incoming, outgoing or all movements.

Loading data from a Bitcoin address: as easy as pasting your address in the appropriate box and clicking a button

A final option is loading data from files; currently Excel, csv and txt files are supported.

Dashboard

All data entered is carefully summarized on the user dashboard. Total account value (broken by categories); trading statistics; portfolio composition; balance by day, currency or exchange and; a personal timeline of transactions are displayed in a compact manner.

Dashboard: a summary of your personal holdings is shown here

Besides having a quick view of his portfolio, in this page the user can opt to make it public and share it with friends or people in general.

Reports

A core feature of the site are reports. The reporting menu contains more than a dozen of different options, including statistics, trading analysis and history. To work properly this section requires the user to have imported some data and it relies on the accurate information provided by him.

The reporting menu and the submenus available on it

Looking at the big picture, Reporting is subdivided in 4 categories: trades, balance, gains and further. Each of these subsections include their own charts and analyses which are detailed below.

Trades

here the user can view general statistics for his holdings, ranging from their total value using a given currency as reference to trading volumes and amounts of coins owned. There are two additional options in this section listing trades and their value for an account, respectively.

Balance

the user can list his current and daily possessions and classify them by exchange or currency. Bar and pie charts complement the section, with different filtering alternatives and options to export data.

Gains

the user can rely on this part of the site to decide whether to sell or not (with the average purchase price option), analyze previous trades (average buy/sell prices, break even price and profit / loss), check which coins are currently tax free and track realized or unrealized gains.

Further

anything else that does not fit in any of the subsections above comes here. Currently, a user can compare the cost of fees today against the amount paid when the transaction was executed, easily review his transactions divided as debits and credits and quick statistics for “easy enter” coins.

Charts and Trends

This sections comes in handy to investors that require tools that help them to watch trends, identify patterns and take decisions. The first feature offered here is a list of coin trends which includes 24h, 7d and 30d data. It also lists current volume and price in both fiat and BTC for a given currency or commodity.

Coin trends for the top 50 accounts (using the volume in BTC as ordering criteria)

A history of prices is also offered for all the 6575 coins, which can be customized to show any pair (not only the default cryptocurrency vs USD / EUR) including producing a plot with data for all the currencies the user owns. Naturally, charts are also interactive and allow zooming, changing timeframes and even including personal trading data (a feature still in beta).

Price charts: a customized chart with the historic price of ETH in Bitcoin and CNY

The third option is simply a global statistics page produced with data from all the CoinTracking users. It certainly does not give much value to investors, but might be interesting and even motivational to see.

Global user statistics: what is this for? who knows, but many sites have this page and CoinTracking is not the exception

The last component is on the other hand a remarkable and sensational one: CoinTracking has produced smart price and volume forecasting algorithms which it uses to predict Bitcoin price behavior and risk, daily and hourly prices and future trade volumes.

Bitcoin behavior forecasting: price predictions including risk estimations and success rate

Tax report

The last of the main features and probably one of the most interesting for busy people with lots of trading data is the automatic generation of tax reports. CoinTracking has been adapted to different local laws and is able to automatically produce tax declarations that comply with the regulations of many countries where cryptocurrencies and trades using them have to be reported.

Tax reports can be customized indicating the relevant year, method, currencies to consider, rates, among other options.

Additional features

Users can back up their trades with a single click and restore or delete previous backups with the same ease. The site is responsive, so it can be accessed from mobile devices without much hassle; CoinTracking also offers a mobile app that makes it even easier for Android users to work with the platform.

The site has a referral program that pays out 20% of commissions in any purchase made by referrers (i.e. account upgrades). Users are also given the choice of joining multiple accounts if for whatever reason they have more than one in existence.

Pros

• Easily import data.
• Wide range of statistics available.
• Generous referral program.
• Forecasting features.
• Multiple languages supported.
• Free version (limited).
• Reports for tax declaration.

Cons

• No 2-Factor-authentication.

Conclusion

CoinTracking is great either for casual traders that only want to keep track of a couple of movements every month or for established traders that can afford to purchase one of the non-free plans offered and take full advantage of the site. The forecasting tool is something worth checking and the available charts may serve to traders even without creating an account.