I am biased. My system works and makes money.  The system is not hard - knowledge about trading isn't the difficult part and I can help you follow along with the system I trade.

But it's a lot like golf.  There's not a lot of time you are actually hitting the ball in golf.  most of the time you are walking to the next shot.  How you hold your emotions and your mental imaging during that time will have profound effect on the success of the next time you hit the ball.  The mental side of golf is the biggest edge.  Not the mechanics of hitting the ball.

Check out the research blog https://altcoinopportunities.com as a starting resource.

Trade safe, and keep those losses small.

Doug

Stable coins are nothing but a smart rich man grabbing money from the transaction fees -
government has realized this money stream is 'supposed' to be theirs...
they will soon have their own digital currencies and will act as their own 'stable coins'.

in the short term for 2023, all that money sitting in stable coins might pump altcoins in a bigger swell than we saw in 2017 and 2018.

Excellent tip.

I started off with cryptocurrencies without properly considering how to track and report my earnings, profits, losses, fees and expenses. As I'm getting skills at organizing my own crypto-accounting, I'll be making CoinTracking tutorial videos for my LumbridgeCity youtube channel !

- I think there are thousands and thousands of small cryptocurrency traders like myself, who have started off trading cryptos without having a way to track their profits and losses, and some practical walkthroughs will help many people!

I had been collecting spreadsheets from several sources where I've been earning and investing bitcoin...

• CoinBase Wallet
• Bitfinex referral earnings and trade history
• NiceHash mining expenses and Earnings
• Hashflare mining expenses and Earnings
• 1Broker referral earnings and trade history
• Four different Poloniex Trading accounts
• StorjX Cloudshare Earnings
• QuadrigaCX Canadian Bitcoin Exchange referral earnings, btc and fiat
• DigitalCurrencyTraders Course Membership Earnings, btc and fiat

...and now that I've found CoinTracking - I'm trying to create some order between all these accounts.  Here are some questions that I need to get sorted out...


Tracking Transfers Between Accounts

Can the double entry list help me find, track and verify the transfers from one account to another?  Or is that report for a different purpose?


Bitfinex

I downloaded the trading history files, as well as the deposit and withdrawal spreadsheets. 
The trading history files were easy to upload to cointracking - but, do the deposits and withdrawals need to be manually entered?

Poloniex

The trade spreadsheet uploads work. And instructions are explicit that withdrawals and deposits must be manually entered.
Well, I have a lot, and that would be tedious.

So I exported a test spreadsheet from Cointracking, and used those database fields to reorganize the poloniex deposit and withdrawals into a format that fitted Cointracking - then I uploaded my spreadsheet.  That worked well enough, but the cost basis for BTC was not correct in the tax reports.

You recommend that I enter deposits as a btc purchase, and withdrawals as a btc sale?

Would this be the same idea for Bitfinex deposits and withdrawals and for QuadrigaCX deposits and withdrawals as well?


Manual Entry

I have few enough transactions for Nicehash, hashflare, StorjX and earnings from my digital currency trading courses that I can enter those manually.


1Broker

But I've been doing quite a bit of trading over on 1Broker - and wonder if you provide support for importing the trade history spreadsheet they provide?  Or should I focus on reformatting their data to fit the CoinTracking generic import layout?

Many thanks again for your software - and even more for all the support you have been providing!!

I've been really enjoying the software, yet I'm having an issue with the imports from Poloniex.

After I import the trading history and look at a draft tax report, I'm getting the same error for all the coins:

For example, I bought Siacoin back in September of 2015, but the transaction is registered this way with a warning:



At first I thought it was because I had entered all the trades without the initial deposit of btc to the trade account that I used to make the purchase, but when I manually added the deposits, these warnings persist.

Any tips?

Tax time draws near and all my other ducks are in a row.  Organizing my maze of crypto playing is the last accounting to complete...