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

[Dario3000]

This is really useful and I am now using for more than 6 months now.

when can we expect auto import from poloniex API?

Thanks a lot

Poloniex API is already on my to do list.
Should be ready in 1-2 weeks.

Dario

[whallify]

Gotta say, Dario... what a great site! I quickly decided to go pro even though I'm not to the 200 trades yet, as I'm very appreciative of this wonderful tool.

I've been playing with manual import, import from various exchanges, and the bulk import.  I'm doing pretty well with the 28 different altcoins with 7 different exchanges, and I love the graphs.  I think I messed up with how deposits are tracked (coinbase specifically, and trying to track USD wallet there differently than using an external bank account for purchases) but I think I'm good on that.

Two remaining questions:

Q1: Mining. (cloud mining - are these deposits/withdrawals?)
I just started playing with mining, and I'm using hashnest.  I bought some GHS on the market and it regularly deposits BTC into what looks to be a private wallet (they don't display the address) and they withdraw the fees.  I can export the transactions, which comes in an xlsx file with a chinese workbook name, so I can't import. So I convert to CSV and I'm good.

This is what it looks like
No.   Date   Amount   Balance   Type   Comment
1   2017-03-14 23:05:32   -0.00013285   0.01444857BTC   Mining   Maintain Fee 457266:AntminerS9:Duration Time 2 h 42 m 35 s
2   2017-03-14 23:05:31   0.00016203   0.01458142BTC   Mining   Earnings 457266:AntminerS9:Duration Time 2 h 42 m 35 s

I figure I can remove "No." and "Balance" because that doesn't matter to the import. 

When I drag and drop the CSV into custom exchange import, it sees all the data.  But I don't know if:

• I should make two separate CSV files, one with all the fees and one with all the earnings, and import them separately
• or if it will automatically understand positive is earnings and negative is fee
• if I do make two separate CSV files, do I do the override to say "this is deposit/withdrawal"
• or if this is even supposed to be deposit/withdrawal

So, what's the best practice for tracking cloud mining?

Q2: How best to try and track down discrepancies, like with BTC?

I'm noticing that what cointracker thinks is my bitcoin balance and what I've verified it to be is off.  As an example, let's say cointracker says my btc balance is 2.15 but when I go check all of my exchanges manually, I only count 1.9.  There's a delta there.

First thing I did was double check all my imported and manually entered transactions for typos.  I didn't find any, so I checked again.  Maybe there's a fee, transfer or something else that I'm missing.  I went to the trade list and put in "BTC" and the exchange name so I could just see all the transactions there, and then I would go to the exchange and do the same thing.  Didn't find anything.  I also checked the daily balance report (great report) to see if there were any issues there.

What would you recommend as to help try to track down discrepancies?   Maybe another report or comparison I should try?

[Dario3000]

Hey whallify and thanks a lot

I would recommend to track mining coins as deposit. This is the easiest way.

You say:
>> I bought some GHS on the market and it regularly deposits BTC into what looks to be a private wallet (they don't display the address) and they withdraw the fees.

But they must send those BTC to your address. Right?
Maybe hashnet is not displaying the BTC address inside their app, but once they are sent to your wallet, you have the address.
That's why I would use the "Bitcoin Wallet Import" to automatically import all your hashnet transactions into your wallet.

If you want to import the CSV (what's more difficult), I would do:
"Declare as deposit, if amount >= 0" and
"Declare as withdrawal, if amount < 0"
This is not perfect for tracking, but will show at least the right balance at the end.


Q2: Track down discrepancies:
First you should check if you have entered fees correctly.
Please note, that they should be already included in the Buy or Sell price.
This means, if you buy 1 BTC for 1000 USD and you pay an additional fee of 5 USD, the final entry should be:
Buy: 1 BTC | Sell: 1005 USD | Fee: 5 USD (a common mistake is to set Sell = 1000 USD)

Second, you should check in the "Trade Table" if movements between wallets or exchanges have been tracked in both ways.
This means, if you send 1 BTC from Exchange A to Exchange B, there should be
One "Withdrawal of 1 BTC from Exchange A"
and one "Deposit of 1 BTC to Exchange B".

Maybe not all of them are listed, as not all exchanges show deposits and withdrawals in their CSV file.

When your trades are correct, the discrepancy must be somewhere here.

I hope that helps.
If not, let me know and I will help you searching

Best regards and a nice weekend,
Dario

[whallify]

You wrote:
> But they must send those BTC to your address. Right?
> Maybe hashnet is not displaying the BTC address inside their app, but once they are sent to your wallet, you have the address.

I don't know all the details, as their FAQ doesn't explain this, but what I see is I have a wallet there, and I can get a btc address to deposit.  I did so, and it showed up.  I then bought some things internal to hashnet (they have a market place where you can buy hashing power at (x) btc per GHS).  That purchase came out of the same wallet address.  When I imported this wallet address into cointracking, or looked at blockchain, there are only those two transactions, and they're for identical amounts.    So, no, they're not sending earnings or taking fees from my address.

None of the mining earnings or maintenance fees are touching that wallet.  However, hashnest's website tells me there's (x) amount available to me for withdrawal, and I can send money there.  But they must be tracking earnings and fees separately or internally.  I can just get the XLSX spreadsheet, which I need to modify some to get it to import.  

I will use your CSV import idea as that makes sense.    Thank you!

(side note) Interestingly, I had put in a sell order a few days ago for my GHS at a certain rate and it sold just after I posted my mining question to you.  So not only have I mined some bitcoin through cloud mining... about $30 USD in 2 wks.. but I also made some money selling the GHS back to the market.  The fee is low (0.15%) so it was definitely worth playing with cloud mining in my case.  In my personal case, for those interested, I had deposited .75 bitcoin, purchased 7716 GHS for .749xxxx BTC, mined for a while, then sold my GHS and my total withdrawal is .967xxxx BTC.  After taking into account the BTCUSD value at time of purchase and sale [where btc has declined quite a bit], I still netted $45 USD after fees.  I think I'll try it again when my own Antminer S9 comes in.

[whallify]

> I will use your CSV import idea as that makes sense.    Thank you!

Dario - I figured it all out eventually.  I knew that I had either made too many manual transactions in USD with Coinbase for USD Wallet stuff, and didn't trace down the withdrawals and where they went to, and the corresponding deposits in those other places.

How I fixed it:  What I did was make a backup and a full CSV export (just in case), deleted all trade data, then went exchange by exchange and did the automated imports if it allowed, then checked the deposits and withdrawals at each exchange since they typically don't get imported with the bulk imports.  This is where I had issues before, because not only did I not put in there things like purchases (my cointracking upgrade was one of them!) and marking my hashnest mining purchase as an import over at hashnest account, but I had several bitcoin transfers from my main wallet to other exchanges not input or reflected at all.

Now the BTC balance in cointracking.info is exactly what I added up manually at the 7 different exchanges.  All the other currencies (~30 of them) look correct as well.

--

Then for the mining, what I did was export all the transactions to a local file, then I split it into three different files - one with just mining earnings, one with just mining fees, and one with just mining trades/deposits.  I had to manipulate the data by removing the "no" and "balance" columns and I added a currency column (BTC).  One neat feature would be to be able to override some things like Currency in case the import file doesn't have it.  For example, we can set an exchange over on the right side of the "Custom Exchange Import" page.  

I also tried to research the hashnest wallet thing since the address I can deposit to at hashnest only had the two transactions (my .75 btc deposit in and a btc withdrawal to somewhere).  I realized I could check the destination address and see what that had in it, but it only had a couple transactions that might have some fee, and then I saw where THAT went, and then it went to an address with way too many transactions that would match my account (ie, there were transactions from January but I started in March), so they must be obscuring it somewhere.

I'll let you know if Hashnest supports a better export, or I can send you what the file looks like and maybe you can more easily parse the mining earnings, fees and deposits.  It would even be neat if cointracking.info supported GHS as a currency (ie, they call it ANTS9 and ANTS7 for two of their current "currencies").  In the report, they show a "trade" of (x) BTC for (y) ANTS9.  It actually exports in XLS but has chinese characters in the workbook name and doesn't import well in your generic parser.

Here's a sample:

No.   Date   Amount   Balance   Type   Comment
1   3/24/2017 20:39   -0.00138888   0.96746603BTC   Trade   Sale taker fee AntS9 amount 7716.0 at price 0.00012
2   3/24/2017 20:39   0.92592   0.96885491BTC   Trade   Sale AntS9 amount 7716.0 at price 0.00012
3   3/24/2017 20:39   -7716   0.0ANTS9   Trade   Sale AntS9 at price 0.00012

Last note - since Coinbase Exchange changed to GDAX, maybe that importer should be renamed as well.  The help file should at least be updated.

thanx again - wonderful tool and I'm glad for it being very flexible for all the complicated things I'm wanting to do.

[Dario3000]

Hey and thanks a lot for your feedback.

I guess hashnet is mixing BTCs of different users, that's why this address is showing too many transactions.
What I meant was to track down all BTC you have withdrawn from hashnet into your wallet (your BTC wallet, not your hashnet wallet). But in this case CT will only import them once they were sent to your wallet.

You can use the "If, Then" condition on the Custom Exchange Import to fix missing currencies.
Like: Set Buy Currency = BTC, if Buy Currency =""

Thanks for the GDAX info. I will have to check if the file layout is still the same, or if they have changed it.

Best regards and a great weekend,
Dario

[lumbridgecity]

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:

Sell of   0.00299999 BTC   for   21385.71428572 SC   at Poloniex   25.09.2015 15:33:31

Sell of   0.00299999 BTC
There is no suitable purchase to this sale (all purchasing pools consumed). Assuming purchase on the same day for 0 CAD.

Cost Basis: 0 CAD
Proceeds: 0.67 CAD (Price: 223.57413191 CAD / BTC)
Gain/Loss: 0.67 CAD
Short-Term

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...

[Dario3000]

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:

Sell of   0.00299999 BTC   for   21385.71428572 SC   at Poloniex   25.09.2015 15:33:31

Sell of   0.00299999 BTC
There is no suitable purchase to this sale (all purchasing pools consumed). Assuming purchase on the same day for 0 CAD.

Cost Basis: 0 CAD
Proceeds: 0.67 CAD (Price: 223.57413191 CAD / BTC)
Gain/Loss: 0.67 CAD
Short-Term

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...

Hey, please note that deposits will not count for the tax report.
If you have bought BTC on other exchanges, enter them as a trade.
For example:
Buy: X BTC
Sell: X USD
This way CoinTracking can calculate the cost basis for your BTC correctly.

Please let me know if you need any assistance.
I'm right now not at the office, but I can have a detailed look later.

Dario

[lumbridgecity]

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!!

[Dario3000]

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!

Thanks a lot. This would be great!

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?

Yes it can.
First of all you should hide all trades from this list.
You can do this by opening the [Advanced Search]
Enter wit|dep in the "Type" textbox and check the "RegEx" checkbox.
This will only display deposits and withdrawals.

However if you want to track your transfers, you should give them a comment or trade group to identify them.
This could be an address or comment like "Poloniex -> Bitstamp transfer 2017/01/05"

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?

Currently yes. I have already sent some tickets to Bitfinex to add all deposits and withdrawals into their regular CSV file. I hope they will do this soon.
Right now you need to enter them manually or using the Excel or Custom Exchange import.

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?

I'm working right now on a Poloniex API import to get all your trades, deposits, withdrawals, margin trades and lendings into CoinTracking.
I will release it next week as I'm almost done.

If you create a deposit you should also create a withdrawal.
This way you can move currencies between 2 accounts.
You can find more details in our FAQ "How do I enter deposits, withdrawals and transfers between exchanges / wallets?" and "How do I enter my fees? (the last example)"

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!!

You could try to use the Custom Exchange Import to get all trades into CoinTracking.
If you need any help, you can send me the CSV file and I will try to set up the format for you.

best regards,
Dario

[cryptowally]

Great software, Dario.  I've been using the Pro version now for > 1000 trades, 90+ currencies, 9 exchanges and I'm drooling over all the reports.  The dashboard is great, the interface is slick, and I keep finding new features where you've already thought of something that I wanted.  

For example, I was thinking "hey, it'd be nice if I could multi-edit change all the trades that say "Kraken Ledger" to just "Kraken" so I was going to request this feature... and then I realize you already have it! I just go to the Enter Coins page, use Advanced search, show enough entries, and then shift-select the rows and Edit.  Excellent work.

Two things have come up with my daily use of the product that make me want to ask about it here.

--

1. How better to research how I did with a specific coin?

Let's say I want to get a better summary of how I did with a specific coin... say, ETH.  I know from my memory about when I bought it, how much I paid, when I sold some, when I bought some, etc.  I know I can use cointracking reports to get me more info.  Here's what I found so far to help me "tell my story" with a specific coin:

• Reporting > Trade List can be used, with a search string of currency type, to see the trade details.  This gives me the gory details if I want them, but is too much information for what I'm looking for.
• Reporting > Average Purchase Prices can be used, in two ways.  One, it gives me a one-liner of red/white/green of loss/even/gain of my existing coins.  At least, I assume it's existing coins and isn't taking in account previous sales.  Second, I can click the Balance Details each Currency at the bottom of that page, select ETH, and I can see each transaction.  This is more along the lines of what I'm looking for - I can see, for example, that I bought 100 ETH on 2/3/17 at .01068 BTC ($1120 USD) and the value now at .0485 BTC is $5223.54.  However, that's for that 100 ETH purchase.  All this page lists is purchases, but no sales.  According to this page, I've bought so much, but I know I've sold a lot, so it doesn't help me with "my story" since I'd also want to include the sales.
• Charts and Trends > Coin Charts lets me enter in ETH at the top, draw the chart, then click "show my trades beta" at the top, which gives me a neat graph (below).  This is very helpful because it shows a timeline AND intensity/volume of trades.  But it's missing the numeric details and the underlying data of the story. (also, it looks like deposit/withdrawals are showing up on the graph and maybe shouldn't)

So I guess what I'm asking for is a "Coin Performance" type of report that, for one specific coin, gives the coin chart mentioned above, plus the actions along the way, combining the average purchase price info and the trade details.  It'd be nice if there were a table below the graph that showed purchase price (and comparing bitcoin to USD like the Avg Pur Price report does) for the initial purchase, and then each subsequent purchase and sale of that coin.  If we can identify the profit made at the time, that would help round out the story (of course, you'll need to determine if you're doing FIFO or LIFO).  Then at the bottom, it would total up the current inventory of the coin in a table similar to the average purchase price red/white/green table, showing the current balance and if we're in negative purchase value territory, the current sales value and the profit/loss.

If there's a report that already does this and I missed it, let me know.

https://ibb.co/jZy3rF

--

2.  would be nice to have expand/collapse on the summary bar

I'm sure I'm in the minority, but I have 93 currencies in my portfolio, and I will probably have 100+ soon.  The summary is neat to look at, and I love how it is now, but it'd also be nice if there was a quick expand/collapse grouping for tiers of coins.  The immediate tier I can think of is by digits place  >10000, >1000, >100, >10, >1.  For example, in my portfolio, I first look at the ones that are > 1000 each.  I have 4 currencies with more than 1000 USD value and 23 coins that are between 100 and 1000 in value.  All the coins between 100 and 10 are noise, and the ones between 10 and 1 are noise and the ones under 1 are noise.   These last three are different levels of noise, if you know what I mean.  So, it'd be nice to have a +/- toggle in the summary that would go from a summarization to expanding all the currencies like it's displayed currently.  

When it's collapsed, the summary line for that group would show # of currencies and the total $ of the currencies.  Still keep BTC at the top like you already do.

One suggestion would be to make this a button option at the bottom of the summary like you do the Sorting:,  Values: and Coins with Amount = 0 options... and make it sticky so once it's set, it remembers.

--
Thank you!

[Dario3000]

Hey cryptowally and thanks a lot

Have you already had a look at the realized and unrealized gains page?
They will show both, your purchases and your sales for ETH or any other currency.
Just click on the "show details" link and search for "ETH".

I'm always using this calculation to track a coin performance.
But thanks a lot for your ideas. I will be back at the office on Monday, and will think about a solution


About the summary tab:
I like the idea.
I will add a "hide coins above/below X BTC" function soon.
Got some requests from other users to hide coins < 0.1 BTC.
I will add a custom value box, so you can hide or show any coins and values you like.

Thanks a lot and have a great weekend,
Dario

[carlo__]

Hello Dude

Sorry for the dumb question but i am trying to get what i look for.

Let's suppose i bought on 1/3/2016 200 ETH
and Let's Suppose that yesterday (1/4/2017) i sold 50 ETH. So i keep still 150 ETH

How can i add this kind of trades in the report?

In the "Trade" type, there is only one date format, so i can't separate buy date and sell date.

[Dario3000]

Hello Dude

Sorry for the dumb question but i am trying to get what i look for.

Let's suppose i bought on 1/3/2016 200 ETH
and Let's Suppose that yesterday (1/4/2017) i sold 50 ETH. So i keep still 150 ETH

How can i add this kind of trades in the report?

In the "Trade" type, there is only one date format, so i can't separate buy date and sell date.

Hey,

Go the the Enter Coins page,
Click on the "New" button and add a trade:
Buy: 200 ETH
Sell: Whatever you paid for them in USD or any other currency
Date: 03.01.2017

Then add a new trade:
Sell: 50 ETH
Buy: whatever you got for your 50 ETH
Date: 04.01.2017

Best regards
Dario

[sile16]

Looks like Tax is a fairly new feature here.  The main challenge I have is that the details around purchases and income are a little light.  On a purchase, it's important to note whether it's a Gift, Charity, a Purchase, Stolen or Lost , also with the feature of auto determining fair market value at that date/time.  Then auto tracking an address and marking it as income for DASH would be amazing.  I'll be using json in the comment field until this can be added as a workaround.

Thanks for all your work!

[Dario3000]

Looks like Tax is a fairly new feature here.  The main challenge I have is that the details around purchases and income are a little light.  On a purchase, it's important to note whether it's a Gift, Charity, a Purchase, Stolen or Lost , also with the feature of auto determining fair market value at that date/time.  Then auto tracking an address and marking it as income for DASH would be amazing.  I'll be using json in the comment field until this can be added as a workaround.

Thanks for all your work!

Thanks a lot for your feedback.
I will think about a solution.

Right now, you could use the Trade-Group to add details like "Gift, Charity..." to each trade.

Best regards,
Dario

[sana123]

This is really useful and I am now using for more than 6 months now.

when can we expect auto import from poloniex API?

Thanks a lot

Poloniex API is already on my to do list.
Should be ready in 1-2 weeks.

Dario

Thanks so much for adding Poloniex API  awesome work !

So I deleted all my Poloniex history and enabled the API import, now its showing me more coins than I actually have and more profit.
This cannot be something else as I use that account only with Poloniex. And why there's 60 min waiting period for API import ?

Also, can we have a slack channel for better communication please ?

[Dario3000]

Thanks so much for adding Poloniex API  awesome work !

So I deleted all my Poloniex history and enabled the API import, now its showing me more coins than I actually have and more profit.
This cannot be something else as I use that account only with Poloniex. And why there's 60 min waiting period for API import ?

Also, can we have a slack channel for better communication please ?

The API will import all your selected trade-types.
So it must match your Poloniex trade information.
You can cross-check on the Polo website.

The Polo import will automatically import all your trades. No need to do a manually check.
In case you want to check them manually, we've added a 60 min cooldown, to avoid too many Polo API requests.

Dario

[sana123]

Thanks so much for adding Poloniex API  awesome work !

So I deleted all my Poloniex history and enabled the API import, now its showing me more coins than I actually have and more profit.
This cannot be something else as I use that account only with Poloniex. And why there's 60 min waiting period for API import ?

Also, can we have a slack channel for better communication please ?

The API will import all your selected trade-types.
So it must match your Poloniex trade information.
You can cross-check on the Polo website.

The Polo import will automatically import all your trades. No need to do a manually check.
In case you want to check them manually, we've added a 60 min cooldown, to avoid too many Polo API requests.

Dario

60 min is too much in my opinion, can you make it atleast 15 mins. People using polo API with 20 sec interval for their bots (including myself). 

[Dario3000]

60 min is too much in my opinion, can you make it atleast 15 mins. People using polo API with 20 sec interval for their bots (including myself). 

OK, I will check the amount of requests the next days and will reduce the cooldown.
Best,
Dario