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CoinTracker Review: Is it Safe to Use?

CoinTracker is one of the most trusted crypto tax softwares and portfolio managers that allows you to connect with other crypto exchanges so that you to manage your crypto taxes.

Cointracker logo

Our Partner

Crypto Tax Software

AT A GLANCE

  • Easily connect all exchanges & wallets
  • Track your entire crypto portfolio
  • Instantly generate tax reports
  • Supports over 8,000 cryptos
Overall Rating
4.0/5


Top Crypto Tax Software

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Pros & Cons

Pros

  • Track over 8,000 Different Currencies
  • Updates and Syncs to the Top Exchanges
  • Add Unlimited Crypto Wallets
  • Helpful Mobile App

Cons

  • Limited High-End Financial Tools
  • Older Looking Interface Can Turn Off Some Users

Do you have a hard time keeping track of all your cryptocurrency trades? Cryptocurrency is quickly becoming a favorite investment option for many people, but it can be challenging to keep all your investment information straight. 

That's where CoinTracker comes in handy. 

CoinTracker allows you to compile data about all your different currency purchases in one place. It updates their current prices, enables you to track the markets, and easily exchanges currencies.

Plus, it helps you generate your tax forms when that time comes. 

In the CoinTracker review, you will learn about the features and benefits of the system. You will find out what they offer to make it easier to use and grow your crypto portfolio so you can take full advantage of your investment opportunities.

CoinTracker icon

Quick Summary

Service: Crypto tax software & portfolio manager

Fees: $0-$199/year

Promotion: Get started for Free

About CoinTracker

CoinTracker allows you to link up to 300 different crypto markets and over 8,000 cryptocurrencies to one single account. By putting all your wallets together, you can quickly see how your investments are doing in real-time, which allows you to make adjustments when needed. 

Once you have all your crypto info in one place, you can also create tax reports on your investments. You can import these reports into your tax filing software to handle your taxes with less hassle.

Features 

There are a lot of features that you gain from CoinTracker. Using all these features together will make your cryptocurrency trade, investment, and reporting more straightforward and manageable.

Connect All Your Wallets

You can connect unlimited crypto wallets to your CoinTracker account. If you have multiple different crypto sources, this is a great way to combine all your information for easy reporting and tracking.

Track your Cryptocurrency

Use over 300 of the best markets for cryptocurrency so you can see how your trades and investments are doing. Stay apprised of the current value, and see trends in the market that you can take advantage of in real-time.  

You will be able to make adjustments quickly based on up-to-date reporting so you can maximize your gains.

Tax Reporting

Are you still trying to figure out how the Bitcoin tax affects your filing? Quickly and easily compile tax reports for multiple countries and import that information directly to your tax filing programs.

Mobile App

You can use CoinTracker on your computer or your mobile devices with dedicated apps for both Android and iOS. These safe apps make it easy to use CoinTracker on the go, so you don't have to be tied to your desk to use the service. 

Pricing & Plans 

CoinTracker offers four different plans depending on how much you plan on using their system. There are Free, Hobbyist, Premium, and Unlimited plans.

Each one of these plans offers users different features and price points that can help make sure Cointracker works best for you. 

Plan

Price per year

Free

$0

Hobbyist

$59

Premium

$199

Unlimited

Contact for pricing

Free

The free plan is a limited-service that allows you to make up to 25 trades. You can sync your wallets and markets, see data for the currency, make error reconciliations, generate tax forms, and access forum support. You get all of this at no cost.

Hobbyist

With the Hobbyist, you get everything the free account has, but you increase your trades from 25 to 100. The plan costs $59 a year.

Premium

Moving up to the Premium adds more transactions, topping out at 1,000. You also gain access to margin trading, Defi functionality, email support, and individual wallet tax breakdowns. Premium starts at $199 a year.

Unlimited

With Unlimited, you can get as many transactions as you need. You can also customize your support to suit your individual needs. This plan is highly customizable. You will get everything from the previous plans, and then you can add whatever other features you need. 

To access Unlimited, you have to contact CoinTracker directly, and they will create and price out the plan that works best for your needs.

FAQ's

Here are some quick answers to common questions about CoinTracker.

Is CoinTracker Legit and Safe to Use?

CoinTracker is a very safe system. They go to great lengths to ensure that you and your information are secure. To achieve this, they built their service on subscription to make money from fees and not data selling. 

CoinTracker also limits the data they collect from each user. They don't need your name, SSN, or address. The company also never asks for your private keys for your crypto wallets. These practices ensure that your data stays safely with you. 

A third party annually tests the application to ensure that new updates are safe and can withstand an attack on updates to the system. It is an extra step that helps prove that CoinTracker is safe to use.

Which Countries Does CoinTracker Calculate Taxes For?

Understanding your tax requirements for crypto can be difficult. When you're ready to calculate your taxes, you can create a full tax report for the US, UK, Canada, and Australia. The system integrates with tax-paying services and software to help you file your taxes. 

The system can also help you with your taxes in every country, creating reports, and gathering information. You will have to take extra steps in other countries, but the program will still be a useful and valuable tool for doing your taxes. 

Is CoinTracker Suitable for Beginners?

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What Tax Reports Can You Make With CoinTracker?

To make filling crypto taxes easier, CoinTracker generates your tax reports for you. You can create Form 8949, Schedule D, Form 1040, and Schedule 1. As the IRS updates forms for taxes on your currency, CoinTracker will add new forms they can generate.  

All you have to add to these reports are your name, address, and SSN because the service doesn't collect that information from you.

Is CoinTracker Legit and Safe to Use?

CoinTracker is a very safe system. They go to great lengths to ensure that you and your information are secure. To achieve this, they built their service on subscription to make money from fees and not data selling. CoinTracker also limits the data they collect from each user. They don't need your name, SSN, or address. The company also never asks for your private keys for your crypto wallets. These practices ensure that your data stays safely with you. A third party annually tests the application to ensure that new updates are safe and can withstand an attack on updates to the system. It is an extra step that helps prove that CoinTracker is safe to use.

Which Countries Does CoinTracker Calculate Taxes For?

Understanding your tax requirements for crypto can be difficult. When you're ready to calculate your taxes, you can create a full tax report for the US, UK, Canada, and Australia. The system integrates with tax-paying services and software to help you file your taxes. The system can also help you with your taxes in every country, creating reports, and gathering information. You will have to take extra steps in other countries, but the program will still be a useful and valuable tool for doing your taxes.

Is CoinTracker Suitable for Beginners?

The system is easy to use and helps you see all your crypto data in one place so you can understand, use, and grow your portfolio. Beyond just being easy to use, CoinTracker offers you many of their services entirely free for up to 25 transactions. That means if you are just starting, you can use their service with minimal risk to see if it will work for you. It is a great way to test the system and see if it can be helpful.

What Tax Reports Can You Make With CoinTracker?

To make filling crypto taxes easier, CoinTracker generates your tax reports for you. You can create Form 8949, Schedule D, Form 1040, and Schedule 1. As the IRS updates forms for taxes on your currency, CoinTracker will add new forms they can generate. All you have to add to these reports are your name, address, and SSN because the service doesn't collect that information from you.

CoinTracker Alternatives

Koinly

Koinly logo
  • Tax reports in under 20 minutes
  • Available in 20+ countries
  • Easily import your trades

CryptoTrader Tax

CryptoTrader Tax logo
  • Official TurboTax partner
  • International tax reporting
  • Import historical data

Coinpanda

Coinpanda logo
  • Reduce your taxes
  • 350+ exchanges and wallets
  • Support for 65+ countries

Who Should Use CoinTracker? 

CoinTracker can be customized to fit the needs of almost anyone who trades or invests in cryptocurrency. The free plan is great for anyone who is just dabbling in the field, and the Unlimited plan can add features that will help you with all your different transactions. 

There are some features that you can't take advantage of with CoinTracker. If you practice derivatives and futures trading, you may have to find a more robust tracker. 

If you are becoming more active in the cryptocurrency community and need a way to keep track of different wallets, CoinTracker can help you. It can also be useful for anyone trying to figure out their tax obligations based on cryptocurrency.

Final Verdict 

In this CoinTracker review, you've seen how easy it is to view and understand your different cryptocurrency purchases with the platform. Whether you're new to crypto investing or you are a seasoned expert with years of experience, CoinTracker can simplify your experience. 

If you're ready to start harnessing all the available data on your crypto investments, create a CoinTracker account today. 

CoinTracker

CoinTracker is the most trusted Bitcoin Tax Software and Crypto Portfolio Manager. Automatically connect Coinbase, Binance, and all other exchanges.

CoinTracker icon
  • Editor Rating
  • Rated 4 stars
  • 80%

  • CoinTracker
  • Reviewed by:
  • Published on:
  • Last modified: July 24, 2021


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