Which Cointracking alternative is available on the market? In this article I will show you 3 alternatives for the crypto tax tool and a free alternative.
The three alternatives for Cointracking are:
What is Cointracking?
Cointracking offers a software solution for managing crypto portfolios and creating country-specific tax reports.
The German provider was founded in 2012 by Dariusz Kachel, who developed the program to make it easier to track his portfolio in Excel spreadsheets (see the original Bitcointalk thread). This is how Cointracking became the world's first provider of its kind and is now the industry leader.
With almost a million users, Cointracking offers a variety of very detailed reports and allows access to specialized crypto tax advisors (optional if desired). The software is available in different languages and on different devices.
Cointracking analyzes transactions and movements on crypto exchanges and wallets to generate live reports on the entire crypto portfolio.
Read more about Cointracking in my review.
Cointracking alternatives
Cointracking is not the only provider of crypto portfolios and crypto tax reports. There are many different Cointracking alternatives, which we will take a closer look at below.
Therefore, you should first ask yourself what you want to use the Cointracking Alternative for.
- For crypto tax reports
- For portfolio tracking
- For both
You should think about this beforehand. This makes the decision easier since all tools have their advantages and disadvantages.
A tool should contain the following criteria:
- Representation of a portfolio through multiple wallets or exchanges
- Manual or automated import of transactions (e.g. CSV file, API)
- Creation of tax reports
- Secure storage of sensitive trading and wealth data
Accointing
Accointing is a software provider for cryptocurrency portfolio management and crypto tax reports. The platform allows users to track, analyze and manage all their crypto transactions and holdings in one place. It was founded in 2018 and was acquired by on-chain data analytics platform Glassnode in late 2022.
Accointing offers its users a user-friendly interface that makes it easy to import and categorize crypto transactions from various sources such as exchanges, wallets, and blockchains. The platform offers a variety of features such as the automatic generation of tax reports for different countries, tracking of investment returns and profits, and risk management tools.
Additionally, Accointing offers a mobile app for iOS and Android that allows users to manage and monitor their cryptocurrencies while on the go. Accointing also has partnerships with tax advisors and accounting service providers to provide professional tax reporting support.
Features
Accounting offers a wide range of features.
- Automated crypto tax report: Accounting creates automated tax reports according to German law. This ensures that the special and advantageous situation in Germany is optimally exploited. A distinction is made between various short-term and long-term positions. Crypto tax reports can be created for several years.
- Portfolio Manager: With the portfolio overview you can track all your crypto assets and view many different cryptocurrencies and tokens from different wallets and exchanges in one place.
- Live price data: Current price data is provided and displayed in charts, so you always know the current value of your portfolio.
- Tax Optimizer: The Trader Tax Optimizer (TTO) tries to optimize your tax burden. The tool should be able to give you tips based on your trading strategy.
Pricing
Accointing is available for free as a freemium model. You can import up to 25 transactions in the free version to create a tax report for them. With CoinTracking there are up to 200 transactions in the free version.
Do you have more than 25 transactions? Then there are other account upgrades you can do. It is always calculated according to the number of transactions in the year and per tax year.
The models at a glance:
- Free: Free, up to 25 transactions
- Hobbyist: 79€, up to 500 transactions
- Trader: 199€, up to 5000 transactions
- Pro: 299€, up to 50000 transactions
The costs only refer to the crypto tax report. Portfolio tracking is free for up to 50,000 transactions.
Conclusion
Accounting is a great way to track your crypto portfolio cheaply. Tax reports in the "free" version are just a lure because with only 25 transactions you can probably do the tax return yourself.
Therefore you should plan at least 79€ for accounting per year.
Blockpit
Blockpit is an Austrian provider of tax reporting and compliance solutions for cryptocurrencies. The platform offers a user-friendly interface to import and categorize crypto transactions from different sources.
Blockpit also has solutions to comply with regulatory requirements related to cryptocurrencies like AML and KYC. The platform also has a mobile app and partnerships with tax advisors and accounting service providers to provide professional support.
Features
Blockpit offers the following features
- Legally sound tax report: A crypto tax report in PDF format is generated by Blockpit based on transactions. The reports are created country-specifically in cooperation with KPMG. Different tax rates generated by different crypto revenue like staking, mining, lending, etc are supported.
- NFT and DeFi Support: In addition to cryptocurrencies and tokens, NFT and commodities are also supported
- Crypto portfolio tracking: Your entire crypto portfolio can be tracked on one platform.
Pricing
Blockpit is available for free as a freemium model. Blockpit is free if you only want to use the portfolio tracking feature.
If you want to use the tax report, you have to pay at least 49€ per tax year. In this model, you can add up to 50 transactions.
The models at a glance:
- Free: Free, only portfolio tracking. No tax reports
- Lite: 49€, up to 50 transactions in the tax report
- Basic: 79€, up to 1000 transactions in the tax report
- Pro: 199€, unlimited transactions in the tax report
The costs only refer to the crypto tax report. Portfolio tracking is free.
Conclusion
Blockpit is a good way to track your crypto portfolio cheaply. You should budget at least 79€ per tax year for use.
With only 50 transactions, you can do it yourself in Excel or use Cointracking's free feature.
Koinly
Koinly is a cryptocurrency tax reporting and portfolio management platform. It is easy to use and allows users to automatically import and categorize their crypto transactions.
Koinly offers automatic tax reporting functionality for different countries and also has profit and loss tracking tools.
The platform has a mobile app and partnerships with tax advisors and accounting service providers for professional support.
Features
Koinly offers the following features
- Crypto Portfolio Tracking: View total holdings and portfolio growth over time
- Data import: Accounts and wallets can be connected via API to automatically import transactions and movements into the tool.
- Crypto Tax Reports: Generate country-specific tax reports for the USA, Canada, UK, Germany, Sweden, and numerous other countries
Pricing
Koinly is available for free as a freemium model. The portfolio tracking functions and the tax preview can be used free for up to 10,000 transactions.
If you want to use the tax report, you have to pay at least 39€ per tax year. In this model, you can add up to 100 transactions.
The models at a glance:
- Free: Free, only portfolio tracking. No tax reports
- Newbie: 49€, up to 100 transactions in the tax report
- Hodler: 79€, up to 1000 transactions in the tax report
- Trader: 169€, from 3000 transactions in the tax report. Further transactions are possible, but they also cost more.
The costs only refer to the crypto tax report. Portfolio tracking is free.
Conclusion
Koinly is a great way to track your crypto portfolio cheaply. You should budget at least 39€ per tax year to use it to create a crypto tax report with 100 transactions.
Koinly tends to specialize more in the Anglo-Saxon market and less in the German-speaking market. Nevertheless, the website is also available and usable for German customers.
Cointracking alternative for free
What options are there if you are looking for a free Cointracking alternative?
Cointracking Free
Is Cointracking free? Yes, it is free to use.
First of all, I would like to point out that Cointracking already offers a pretty good and usable free version. This version gives you the possibility to import up to 200 transactions and use up to 100 entries for the tax report.
I was fine with it myself for several years before I had to upgrade.
Excel Lists
You can use an Excel spreadsheet or a Google spreadsheet to create your crypt taxes. All exchanges offer CSV file export, so you can use it to replicate crypto movements between multiple exchanges and wallets.
There are also numerous Excel templates to be found on the Internet.
I have used this method myself for several years and it can be very time-consuming and complicated. With very few exchanges and blockchain transactions between wallets, this still works quite well. But as soon as you “trade a little more” and don’t just use crypto wallets for silent hodling, you should think about a professional tool.
