The Top 5 One-stop Solutions for Your Crypto-Portfolio — Accounting and Tax Reports

CoinTracking

The Big Dog

CoinTracking is arguably the most well-known crypto accounting software company in the market. As no one likes to be on too many platforms at once, they are also used by many people as a portfolio tracking tool.

Pros and Cons

The big advantage here is the reliability of the tool. Since April 2013, a bit under 400,000 users have signed up and the approach of the tool makes it very simple to get an overview of your portfolio, gains, and relevant tax information.

Visuals

Availability

Desktop — the browser-based tool is very slick and the UI looks nice — though it has a certain “old analytics”-feel to it.

Overall rating: 4/5 Stars

The current market leader status of CoinTracking is well-deserved. Except for the pricing and the limited tax optimization, the tool has everything we would want in a portfolio/tax report service. With small design updates in the web dashboard and a pricing model that is a bit more competitive, we would give the tool 5/5 Stars.

CoinTracker

Brief description of tool

According to its website, Cointracker has already connected more than 100k exchanges and wallets via its service. Next to the export of tax-relevant documents, users get an overview of the overall portfolio performance and accurate fee tracking.

Pros and Cons

  • All-in-one platform
  • Trusted by many
  • Automatic synchronization across exchanges
  • While the tracking part is free, even the cheapest tax report will set you back about $50. Prices are going up to €899 for 15,000 transactions or more.

Visuals

Availability

  • Desktop availability via browser
  • iOS: App available with a high rating (at the time of writing, 4.5 stars)
  • Android: App available with reasonably high rating (at the time of writing, 4 stars)

Overall rating: 3/5 Stars

The tool has a very nice look and feel to it and has some major force behind it. Overall quite pricey, but a little slicker and tidier than its “bigger brother” CoinTracker… I mean CoinTracking… Now, I’m confused as well…

Accointing

Brief description of tool

Germans might not be the most fun of people. They are not big on the humor. What they seem to be great at however is tax and accounting software. Both CoinTracking (Munich) and Accointing (currently Zug) are founded — at least in part — by Germans. Stereotypes… But I digress…

Pros and Cons

  • Adolescence stage, not all features fully developed yet
  • Beautiful User Experience and full-fledged portfolio overview and metrics
  • Tax optimization using advanced inventory methods and holding period optimization for best results (FIFO, LIFO, and Specific ID)
  • About three to four exchanges added weekly
  • Additional tax report capabilities
  • Pricing below its competitors, free version offers an optional limited tax report for $50

Visuals

Availability — desktop/mobile/iOS/android

  • Website fully optimized for mobile and desktop
  • App currently in development

Overall rating: 4/5 Stars

Great potential, beautiful UI and overall promising tool. As of yet, it does not offer enough import functionalities, though they are working hard at that and are currently adding 3–4 exchanges per week.

CryptoTax

Player 3 has entered the game — or at least the third company promising to do tax reports for you from Germany. The purpose of the Bavaria-based start-up is as clear as its name: provide reports for the taxation of your crypto-currencies. The tool has been available in Beta at least since 2016 and wants to create the most reliable and correct tax reports available on the markets.

Brief description of tool

Which is exactly what the tool does. There are still a good many of wallets, ICOs, and exchanges missing but due to the possibility of a manual import, anyone who is willing to put in a bit of manual labor can import anything.

Pros and Cons

  • Their support is top notch: They have quite a substantial FAQ section and their support via Telegram is supposedly very good
  • The good thing — you can import anything through a manual import
  • The bad news — Users have described the complete upload to be a good bit of work as a manual upload is required a little more often than people would have liked.
  • For a tax report tool without beautiful portfolio management capabilities, the software is quite expensive.

Visuals

The following is an excerpt of the tax report that CryptoTax provides. It is quite substantial but definitely made for the IRS (or in this case, its German equivalent).

Availability — desktop/mobile/iOS/android

Available through the browser, no software downloads available for iOS, Android or the desktop computer.

Overall rating: 2/5 Stars

As a tax optimizer, the tool gets 4/5 stars, though for portfolio capabilities, this tool isn’t necessarily very useful. You would need a second tool to visualize your portfolio — and who wants that?

TokenTax

TokenTax, founded 2017 in New York, is another strong contender in the “Creatively Naming Your Business” category. It seems that this is the one thing that most of the companies on this list have in common.

Brief description of tool

TokenTax promises the most versatile tracking abilities by also covering margin trading, international exchanges and even have solutions for employees who get paid in cryptocurrencies.

Pros and Cons

  • Overall, TokenTax is a great single-purpose product, especially for the US-market, if that single purpose is to not worry too much about taxes.
  • It doesn’t offer much in the visualization of your portfolio.

Visuals

Availability — desktop/mobile/iOS/android

Available only through browser; no apps or software to download

Overall rating: 2/5 Stars

For tax purposes, this tool is at the higher end of the spectrum concerning pricing, but also gets the job done. If you would like a comprehensive all-in-one solution, TokenTax is not the tool for you.

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Accointing by Glassnode

Accointing by Glassnode

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Connecting Crypto: Track, Manage, and Report all Your Crypto Platforms in One Place.