CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies

[Andreas_CoinTracking]

@theratears
If your balances and validity checks are fine then there is no change needed.
Otherwise always:
1. create Backup
2. bulk delete affected transactions
3. Reimport them again

[Plenty]

Hi, I had provided you with multiple messages with specific guidance FROM GEMINI to fix their API import over two months ago.

Then you drop this major update and the problem still isn't fixed.  You apparently only added "AdminCredit" but NOT "AdminDebit".

I have since filed a support ticket.  Here is the error message again (new Gemini API was created and old one deleted):

(Error: Unsupported trade type: {"type":"AdminDebit","status":"Complete","timestampms":1612994178257,"eid":22593668290,"currency":"EUR",)
Created: 23.06.2021 09:53 | Last imported tx: 23.06.2021 09:53 | Last check: 23.06.2021 09:53
Label: Gemini | Start date: 29.04.2021 00:00
Imports: 0 | Mail: no | Auto: yes


PLEASE kindly follow Gemini's guidance and add "AdminDebit" as soon as possible.

Thanks in advance,
--------------------------------------

Updates and Improvements
- New Blockchain import: Stellar (XLM)
- New Blockchain import: Binance Chain (BNB)
- New CSV import: Relai
- New CSV import: Binance Complete Import (Beta)
- New API import: Binance v2 (Beta)

- HitBTC CSV import now supports the new file format
- ByBit CSV import now supports the new file format
- Bitpanda CSV import now supports the new file format
- AscendEX CSV import update (fix for fees)
- Kraken CSV import update (fix for trades)
- Cake Defi CSV import update (fix for liquidity trades, bonus trade types)
- Iconomi CSV import now supports the new file format

- Binance API import update (fix for trades and duplicates)
- Binance Pro API import update (fix of rate limits error, deposit transactions, fees)
- Bitfinex API import update (fix for margin trades, balances, API errors, reward trades)
- Bitstamp API import update (fix for fees)
- Luno API import update (fix for general import)
- Bitstamp API import update (fix of undefined error)
- Gemini API import update (new trade type "admincredit" added, fix for earn trades)
- Liquid API import update (fix for deposits/withdrawals)
- Kucoin API import update (fix for rate limits)
- Poloniex API import update (fix for wrong characters in comments)

- Ethereum Blockchain import update (fix for liquidity process and other DeFi processes)
- Binance Smart Chain Blockchain import update (fix of DeFi processes)

- Tax report conversion setting updates for "Best Prices" (stable coins are now ranked higher than other coins in the "Best Prices" calculation)
- Affiliate Program: additional payment methods
- Several Ticker updates for correct assignments and price history
- TurboTax export file format fixes

[Andreas_CoinTracking]

@Plenty
Thank you for letting us know. We add this of course as well. Thank you for your patience.

[Plenty]

Hi I'm sure it's trivial to make the fix now.  Will you please push the update today?  The announcement of the fix can be later.  Thanks in advance.

[scatterbug]

Hi I'm sure it's trivial to make the fix now.  Will you please push the update today?  The announcement of the fix can be later.  Thanks in advance.

How do you know that it's trivial? Do you have access to their source code or know about their internal workflows?
Even if it were a trivial change, they probably have some other changes that all need to be tested before they push to prod in order to ensure nothing get's f*cked up.
These things take time, be patient. A rushed push to prod is going to be much worse.

[Sasha404]

Any plans to add blockchain imports for layer 2 networks? Or more precisely, I'd like to see Polygon (MATIC) network imports. Any information on this? And if so, do you have a target date for this to be implemented? Thanks.

[Andreas_CoinTracking]

The MATIC API importer is almost ready to use. We ask you for some more patience and it will be available in summer.

[Sasha404]

Glad to hear, thank you.

[BobK71]

This tracker like interesting. There are a lot of features coming here to see the prize of a token.  Which is different from other trackers like Coingacko - Coinmarketcap

[Plenty]

Had you done some research on my posts about this topic you would come to my conclusion.

Hi I'm sure it's trivial to make the fix now.  Will you please push the update today?  The announcement of the fix can be later.  Thanks in advance.

How do you know that it's trivial? Do you have access to their source code or know about their internal workflows?
Even if it were a trivial change, they probably have some other changes that all need to be tested before they push to prod in order to ensure nothing get's f*cked up.
These things take time, be patient. A rushed push to prod is going to be much worse.

[Andreas_CoinTracking]

This tracker like interesting. There are a lot of features coming here to see the prize of a token.  Which is different from other trackers like Coingacko - Coinmarketcap

We are using those price sources for calculations within our tool. See: "Fiat, coin and commodities price sources, individual exchange price, change Fiat account
Currency" (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)

[dr1ver]

Hi CoinTracking Team

Can I make a request that you please set up a Feature Request webpage?
It should:

• Allow Feature Requests to be created
• Allow Voting
• Show Status of a Request

Kind regards,
dr1ver

[Andreas_CoinTracking]

@dr1ver
Sure, we add this to our improvement list.
Asking for features via Ticket/E-Mail is always possible already right now.

[dr1ver]

Thank you - yes I know, your team is generally very responsive to tickets.
I think making Feature Requests more public helps to create a sense of community. It can make a big difference if a number of people ask for the same Feature. It can help your team decide on priorities. It gives the community a sense that your team are prioritising items that the users think are important - which I'm sure you strive to do, but this will help.

[Andreas_CoinTracking]

We are working on an own Forum where those feature options you mentioned will be implemented then somehow.

[MuAnon]

Cointracking Asset Valuation vs Transaction Pricing

I'm trying to get a basic understanding of the approach taken by Cointracking to asset valuation, and its effect on the accuracy of the many available reports.

From what I can tell, when cointracking imports a trade transaction, it sets its own fiat asset valuations for each half of the transaction based on external price feeds, rather than assuming matching fiat valuations for both halves of each imported trade transaction.

Example: Trade 1: 100 ABC purchased for 100 USDT.  Trade 2: 100 ABC sold for 150 USDT.  So real-world a profit of 50 USDT from entry to exit, probably converted to $50 realized gain?

But what if Cointracking's valuation of ABC's fiat value in each of these two trades is different?  Let's say it shows ABC worth $90 on entry and $160 on exit.

In this case the two halves of each trade transaction don't match.  Trade 1 shows 100 USD value for selling 100 USDT, but 90 USD value for the same transaction's purchase of ABC.

1st question: What's the point of this?  Does Cointracking maybe want to capture that $100 was spent for $90's worth of ABC coin?  But for the integrity of all generated reports, isn't what's more important only an accurate representation of what was paid and what was received?

Also, in the 'Realized Gains' report, there is a dropdown for Best Prices, Transaction Prices, Counterpart Prices, etc.  Yet modifying this doesn't modify the valuations seen in the 'Enter Coins' list.

Why should the two halves of a single trade transaction ever not be a fiat-equivalent match?

Is there a setting or other way to tell cointracking to always set both halves of each trade transaction to matching fiat values?  Perhaps if one half is a stablecoin that would get preference, then going down the list of btc, eth, bnb, etc?

How important is it to get the 'Enter Coins' valuations exactly right?  What impact do inaccurate valuations have on the integrity of the reports?

How do you experienced users handle persistent mispricing of asset valuations in fiat terms?

From a gains calculation perspective, what choice in the "Best Prices" dropdown best represents real-world cap gains and losses?

Can this selection somehow render moot the mispricings of fiat asset valuations on the per-transaction level?

[Andreas_CoinTracking]

@MuAnon
I leave answering your post to the community.
Just want to add some FAQs where all you questions are described:
Fiat, coin and commodities price sources, individual exchange price, change Fiat account Currency (https://cointracking.freshdesk.com/a/solutions/articles/29000007214?lang=en)
Big differences in gains between best / counterpart / transaction price calculation (https://cointracking.freshdesk.com/a/solutions/articles/29000025558?lang=en)
Gains - Prices Setting (Dropdown)(https://cointracking.freshdesk.com/a/solutions/articles/29000018289?lang=en)

If you would pay in an OTC trade 100 USD for coin ABC but the averaged weighted market price (worth) is 90 USD at this time then we take the 100 USD at face value (since FIAT has highest priority) if you choose best price, but choosing the transaction prices would then take the 90 USD.

[theratears]

Hi could you please look at supporting Ronin wallet imports. Mainly used for Axie Infinity

[Andreas_CoinTracking]

@theratears
We add this to our improvement list.

[MuAnon]

Could use some top-down workflow advice...which order to do things.

For example "Reset calculated Asset Values". Are we supposed to always do this after bulk-correction of wrongly assigned coins/tokens?

But that will also wipe out all manual asset valuation edits?

If so, what's the solution for going back and forth between these two tasks?

Thx