Cryptocurrency and blockchain have become an important part of the worldwide economy, with their volatility and daily price changes creating the need for tracking tools for both novice and experienced crypto investors. By connecting to crypto wallets and exchange accounts, portfolio trackers provide an efficient way to monitor crypto investments and display the total value of the portfolio. But which coin tracker to choose among so many options? In this article we offer you through CoinTracker vs Cointracking comparison.
What is a Crypto Tracker?
A crypto tracker is a tool that helps you keep tabs on your cryptocurrency investments. It provides live updates on prices and can alert you to any market activity, so you can make informed decisions on when to take profit or adjust your portfolio. By connecting to various exchanges, wallets, and services, this app enables a comprehensive view of your crypto assets and their total value.
Benefits of crypto tracker
- Enables traders to browse and monitor the entire crypto market in real-time
- Generates trading reports in real-time and on the profits or losses you make
- The app connects to your wallets and exchange accounts and gives an instant overview of balances for all your cryptos
- Helps you to manage diverse crypto portfolios, saves you time, and gives instant alerts on market changes
- Enables you to stay updated with chart, price, and investment performance
How to Choose the Best Crypto Wallet Tracker?
Considering your personal preferences, including your investment styles, goals, trading strategies, and list of cryptos to watch, is paramount while choosing the best portfolio tracker for you.
So what’s the best way to pick your crypto portfolio tracker?
Here are some key features to consider:
Supported Exchanges
Your crypto wallet tracker should support all major cryptocurrency exchanges you have an account on. This helps you automatically sync trades from multiple exchanges.
Supported digital currencies
Your cryptocurrency wallet manager should be able to support your favorite digital currencies.
Price
There is a free and premium subscription for crypto trackers. It’s advisable to verify all the plans and see what crypto investors generally say about the specific software.
Dashboard
Userfriendly and simple dashboard for tracking your portfolio are also important. You will certainly need to examine many digital assets on different crypto exchanges. You will automatically be able to detect the changes in your trading portfolio. To track these movements in your portfolio with no hassle, you need an easy-to-use dashboard.
Security
As an inverter in crypto, you need to take care of the safety of your assets. Therefore, go for the software for tracking your portfolio that has multiple encryption layers and two-factor authentication to ensure the privacy and security of your private data. Also, choose a crypto tracker that only can access your crypto balance and not your crypto funds.
Functionality
Additional functional features beyond crypto tracking are most welcome within the crypto tracking app. Look for additional features such as swapping, Global stock portfolio tracking, and Monitoring the value and effectiveness of NFTs.
Now, We will take a look at CoinTracker vs. Cointracking apps and give you their side-by-side comparison. We will compare their pricing, user interface, security, and functionality. These are the aspects you must look at every tracker you eventually go to choose.
CoinTracker vs. CoinTracking: Side-by-side Comparison
Let’s look at a short overview of both software’s main features, supported integrations, customer support, pricing plans, and more.
Signup Process
The signup process is similar to most tracking software. First, you must go to the official website of CoinTracking or Coin Tracker. Then you must open an account.
CoinTracking – you only need to provide a username to open an account. No need to provide an email address since it’s optional.
CoinTracker – You have three options: to provide your Google or Coinbase account. Or you can provide only your email address to sign up.
After just several minutes, you are all set up, and you can import all your crypto transactions automatically or manually.
CoinTracker vs. CoinTracking: Features and Services
Now let’s see what are the main services and features these platforms offer to their clients.
CoinTracking
The following are the most popular functionalities that CoiTracking offers:
- You can generate free crypto tax forms. CoinTracking enables you to create tax forms, no matter if you are on a paid or free software version. However, if you are on a free plan, you can only include up to a hundred trades in your tax reports.
- If you are a user of a Premium account, you can benefit from CoinTracking full-service. This feature allows you to get assistance from cryptocurrency tax experts.
- CoinTracking has different types of cost-basis methods. These are HMRS, FIFO, LIFO, and HIFO for UK clients, and CRA, which is for clients from Canada.
- There is an integration with software such as WISO, Drake, and TaxAct.
- For experienced and skilled traders, there are handy features such as staking, crypto mining, airdrops, and tax-loss harvesting.
- Legacy exchanges support- This software provides the option to import data from crypto exchanges whose software has been shut down (Mt. Gox, QuadrigaCX, etc.)
- Besides the features destined for retail traders, there are some interesting ones for companies dealing with crypto. Report and crypto tracking feature for companies in the crypto sector, such as tax firms, CPAs, and fund managers
- CoinTracking provides training in the form of documentation, webinars, and videos.
- CoinTracking supports these languages: Catalan, English, French, German, Italian, Korean, Polish, Portuguese, Russian, Spanish, and Turkish.
- CoinTracking works with these users and organization types: Mid Size Businesses, Small Businesses, Enterprises, Freelance, Nonprofit, and Government.
CoinTracker
And here is a quick overview of CoinTracker’s main services and features.
- ACB, HIFO, LIFO, and FIFO cost basis methods are available for CoinTracker clients. These are also included in the free plane.
- Regarding the integrations with other software, CoinTracker has partnered with TaxAct, TurboTax, Coinbase, H&R Block, and Opensea.
- You can benefit from useful tools such as staking, tax-loss harvesting, and margin. Unlimited offer of wallet and exchanges is available on CoiTracker. It supports almost 300 exchanges with no limits for auto synchronization, no matter which plans you are subscribed to.
- The software offers different tax reports as well as portfolio tracking tools vital for creating tax reports.
- CoinTracker provides training in the form of documentation.
- CoinTracker supports these languages: English.
- CoinTracker works with these users and organization types: Mid Size Businesses, Small Businesses, Enterprises, Freelance, Nonprofit, and Government.
Both software are available on mobile apps for iOS and Android.
Integrations
This is one of the most important features to look for when choosing a crypto-tracking tool. So, let’s see what wallets, protocols, and exchanges CoinTracking and CoinTracker support.
CoinTracker’s integrations
CoinTracker incorporates approximately 300 exchanges and various wallets. Clients can directly connect their exchange accounts. Here are some of the most prominent exchanges CryptoTracker supports.
- Binace
- Gemini
- Kraken
- Bitfinex
- Bitstamp
- TraderJo
The wallet that this platform supports are:
- Trezor
- Ledger
- Metamask
- Exodus
Regarding Defi protocols, CoinTracker supports only four of them but is on its way to introducing many others. The ones it supports at the moment are:
- Maker
- Uniswap
- INDEX
- Compound
CoinTracking’s integrations
CoinTracking integrates 110 exchanges enabling its client’s automatic imports using API and CSV uploads. API is only available for paid plans. Unlike CoinTracker, CoiTracking supports legacy exchanges.
Among the most popular exchanges that this software supports are:
- Kraken
- Binance
- Bittrex
- Coinbase
- Poloniex
As for the supported wallets, some of them are:
- Exodus
- Abra
- Ledger
- Trezor
Regarding DeFi protocols, it supports Polygon, Binace Smart Chain, Ethereum, and platforms:
- PancakeSwap
- Uniswap
- SushiSwap
- TraderJo
CoinTracking vs. CoinTracker: Pricing Comparison
Both software has free plans, but let’s look at their paid plans now and what these comprise.
Coin Tracker has three paid plan options: Hobbyist ($59 per year), Premium ($199 per year), and Unlimited (priced individually). It has a 30 days refund policy. The maximum number of transactions for a hobbyist plan is 100, for a Premium is 1000, and for Unlimited, you guess there are no limits.
CoinTracking has also three paid plans which are: Pro ($10.99/month), Expert ($16.99/month to $27.49/month, and Unlimited ($54.99/month). The maximum number of transactions for the Pro plan is 3500. For the Expert plan goes from 20 000 to 100 000 transactions. No limits on the number of transactions for the Unlimited plan.CoinTracking offers training included with the purchase.
Security and Privacy
Thanks to SOC2 certification Coin Tracker handles users’ data in compliance with the AICPA standards. The software implements various security options, such as two-factor authentication and encryption. Moreover, CoinTracker doesn’t ask for private keys.
CoinTracker takes care of personal data protection. Actually, it doesn’t require users to fill in data such as email addresses. You can use the platform by only providing a username.
CoinTracking supports an IP anonymization tool so you can anonymize your IP address. Besides, clients can demand the deletion of their personal data.
Both companies guarantee that your data wants to be sold to third parties.
Supported Countries
CoinTracking is registered in Germany, but it offers tax forms for more than 100 countries, including Australia, Canada, the UK, and the US.
Also, although founded in California, CoinTracker offers support in the UK, Australia, and Canada. It covers more than 100 countries.
Customer Support
Let’s see how clients can contact both companies using various communication channels.
CoinTracker
In case of any questions you need answers to, you can contact the CoinTracker team via:
Email – available for clients of Unlimited plans and Premium plans.
Forum
Submitting queries and questions on their official site.
You can refer anytime to their FAQ and blog section.
CoinTracking
You can contact CoinTracking customer support via chat on their official website or via email. Their FAQ and blog sections are also very helpful if you need to quickly resolve some issues.
CoinTracking vs. CoinTracker: Customer Reviews
Comparing CoinTracker and CoinTracking to their competitors, there are fewer reviews available for these two platforms. Reviews for both platforms generally deem them as having average to poor ratings. The main difference between this two software is that CoinTracking provides most features for free, while users have to pay for the majority of features with CoinTracker. For crypto beginners, the free and cheapest plans for CoinTracking should be sufficient.
CoinTracker has a unique feature of auto-syncing for all plans, which CoinTracking only has in paid plans. Nevertheless, both have their own pros and cons. It is important to evaluate user reviews, features, fees, and types of accounts before making a decision. This will be helpful when deciding which one to use.
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