GEBucky
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August 23, 2018, 06:50:25 AM |
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I have been using CT for almost a year. I have gone to a simplified method of tracking trades as I don't do many trades (I do a lot of mining but don't sell often so that's easy).
My issue is if I buy one of the thinly traded alts. Say I buy 3000 shitcoins for 1 ETH. I ignore fees on the trade and just let them get incorporated into the cost basis. The problem is the spreads are huge on alts, so in my example:
sell 1 ETH - value of $280 at time of trade buy 3000 shitcoins - shows value of $195 from the data feed, which is clearly not what I paid for them.
So my method had been just to overide the "asset value" in the trade to be equal on both usually picking the reliable value (USD, ETH, BTC). So in this case I over ride the $195 purchase price of shitcoin with $280 as that's what I paid. Again, I just ignore the fees as it ultimately should work out with the cost basis (yes, losing a bit if I don't sell in the same year but not worth the hassle). Not sure it's really that material as have run it both ways.
This seems to work. The Tax Reports have the "best price" option which theoretically would so what I just did above. I just am not sure that leaving it with the original asset values will result in the correct cost basis for the shitcoin if I decide to sell it two years from now - afraid it would pick up the $195 vs the actual value i paid of $280. At the end of the day, FMV is what I paid, not an arbitrary feed from an exchange with 30pct spreads between bid and ask.
I welcome any thoughts on this. It's not absolutely precise, but pretty freaking close. My mining income dwarfs everything else and that is all correct. I also ignore fees with mining related transactions and just record what hit's my wallet as income on a net basis. Seems crazy to try to track the fees associated with each. Income is what is realized at the time of the receipt, net of fees.
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dealersocket
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August 23, 2018, 11:18:24 AM |
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Good service
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looking0101
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August 26, 2018, 01:45:29 PM |
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Hi trying to use the free service and have put a couple transactions in the portfolio. But the dashboard field that says Total Account Value is inaccurate. Example I have in portfolio entered i buy 2000 XRP for 500.00 USD i buy 2500 XLM for 200.00 USD currently XRP is @ .32 us XLM @ .21 us
2000x.32=640.00 us 2500x.21=525.00 us
total 1165.00 us spent 700.00 us =465.00 us currently but in total account value it says 205.00 us any ideas where or how I am going wrong? Thanks in advance
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PolarisPolaris
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August 27, 2018, 07:14:54 PM |
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Well, I decided to go with CoinTracking over BitcoinTax......but I've got major issues! For examle XLM is showing I've got 68 coin's but in reality I have over 10,000 coin's. CoinTracking also says I have several bitcoin but I have none... What is happening here?? I entered all my exchange info via API Import which is easy enough but somehow didn't pull the correct info? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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CoinTracking Dominik
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September 05, 2018, 12:56:07 PM |
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Does it support segwit bitcoin addresses for importing wallets? The last tool I tried didn't support addresses beginning with bc1, so I want to make sure before upgrading to the pro version.
Unfortunately it is not possible to import bc1 addresses. How should we account for Ven to Vet exchange.
I do not want a tax event for the exchange so confused how I account for this.
Thanks in advance for any advice.
To track the swap in CoinTracking you have to enter a trade from VEN to VET with the factor 1:100 (Buy VET - Sell VEN). If you don't want a tax event to happen (gain or loss), it's important that you enter the asset value of the original costs of your VEN in this trade so that no profits or losses result. You can find the cost of all your purchased VENs on the Gains page in Table 1 under "Cost". The asset values of the trade become visible when you edit the trade and click on "Edit Asset Value". Well, I decided to go with CoinTracking over BitcoinTax......but I've got major issues! For examle XLM is showing I've got 68 coin's but in reality I have over 10,000 coin's. CoinTracking also says I have several bitcoin but I have none... What is happening here?? I entered all my exchange info via API Import which is easy enough but somehow didn't pull the correct info? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Please contact us via our HelpDesk so that we can take a closer look at the problem. https://cointracking.freshdesk.com
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o20180911
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September 11, 2018, 09:50:24 AM |
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I am located in Germany, and I am trying to make sense of how to deal with hardforks. cointracking.info's recommends * entering duplicated transactions for each "old coin" transaction redenominated in the new coin and with 0 cost basis. I've understood this as: a transaction of (X BTC bought for Y EUR sold) prior to BCH fork-date requires an additional transaction (X BCH bought for 0 EUR), and similarly (X EUR bought for Y BTC sold) requires an additional transaction (0 EUR bought for Y BCH sold). Is that right? This makes sense to me in terms of keeping the BTC/BCH balances synchronised, but in the second case I'm not sure it makes sense to express the pre-fork BCH activity in terms of "0 EUR bought". My generated "Detailed Calculation" / "Auszug aus dem Handel von digitalen Währungen" report contains strange looking transactions such as: "Verkauf von 0.01 BTG für 0.00000000 IOT bei Bitfinex" because it's preceeded by a real transaction of 0.01 BTC for some amount of IOT on Bitfinex. It's just not true that I sold 0.01 BTG for 0 IOT on bitfinex.. Should these kind of "fork transactions" be included in the report at all? *: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018052-entering-coins-with-a-fork-e-g-btc-and-bch-
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Javelina
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September 13, 2018, 04:48:12 PM |
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Does CoinTrack allow for inter-exchange arbitrage trades? In 2017 I bought some coins on Bitstamp, transferred them to GDAX and sold them as there was a spread of about 3% on average (unfortunately gone now). Do I have to calculate all these trades manually or does CT allow me to automate the process somehow? Many thanks.
PS: I did a search for "arbitrage" and go no results.
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boomboom
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September 14, 2018, 04:08:33 AM |
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Does Cointracking have data from the NXT asset exchange? I need to get historic balances for NXT assets and MS currencies at particular dates in the past for 6-8 NXT accounts, can Cointracking do that?
Also, is cointracking made by the same team who created nxtreporting? That was a great site, but sadly doesn't have the old NXT asset exchange data anymore.
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WickedPigeon
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September 17, 2018, 02:43:24 PM |
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Dear CoinTracking Dominik Two questions for you. 1) Can you give any update, road map or schedules for new enhancements - like next quarter CT plans to release x, y and z or like, "by next year we will...." (it's been a little quite on CT's end for the past few weeks). And 2) With the manual trade input/review page, I would like to request that an additional column be added for Trade/Transaction Price. This would help with both trading and balancing accounts. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FJ9KNWnf.jpg&t=665&c=Jjf3vxzQxkAmmw)
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“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
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jonasnoble
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September 18, 2018, 09:45:03 AM |
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Hey, I'm having trouble searching the thread, wondering if somebody can help me.
I have been entering all my mining and trades manually, but decided to create a Binance job for API import, starting at yesterday at 12pm. I did a manual import, and it added my current trades correctly. But it also when back and added my BNB fee transactions for my entire history at Binance. I deleted all these, as I had already manually entered them all year. I did another import, with today as a starting date, and the same thing happened. Now I have to go delete them all again.
I would think with a set start date, nothing before should be added. And why were those fee transactions added, but not all my trades? I should see double of everything if it's adding my entire Binance history, right?
Has anybody seen this, and is there a simple fix or workaround?
I'll try to keep searching the forum, but it's not going well. I appreciate any help you guys can offer.
~Jonas
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WickedPigeon
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September 18, 2018, 01:35:10 PM |
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Hey, I'm having trouble searching the thread, wondering if somebody can help me.
I have been entering all my mining and trades manually, but decided to create a Binance job for API import, starting at yesterday at 12pm. I did a manual import, and it added my current trades correctly. But it also when back and added my BNB fee transactions for my entire history at Binance. I deleted all these, as I had already manually entered them all year. I did another import, with today as a starting date, and the same thing happened. Now I have to go delete them all again.
I would think with a set start date, nothing before should be added. And why were those fee transactions added, but not all my trades? I should see double of everything if it's adding my entire Binance history, right?
Has anybody seen this, and is there a simple fix or workaround?
I'll try to keep searching the forum, but it's not going well. I appreciate any help you guys can offer.
~Jonas
I had a similar issue. I deleted my manual entries and used the API imported ones.
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“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
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CoinTracking Dominik
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September 18, 2018, 02:03:29 PM |
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Does CoinTrack allow for inter-exchange arbitrage trades? In 2017 I bought some coins on Bitstamp, transferred them to GDAX and sold them as there was a spread of about 3% on average (unfortunately gone now). Do I have to calculate all these trades manually or does CT allow me to automate the process somehow? Many thanks.
PS: I did a search for "arbitrage" and go no results.
Hey Javelina. by default arbitrage in CoinTracking is not possible, because we get the prices from different sources and use the average of them. But you can adjust the prices for individual trades (see the following FAQ article: https://cointracking.freshdesk.com/en/support/solutions/articles/29000018057-coin-price-value-does-not-seem-correct) or you can use a different calculation method (e.g. counterpart instead of best price). Does Cointracking have data from the NXT asset exchange? I need to get historic balances for NXT assets and MS currencies at particular dates in the past for 6-8 NXT accounts, can Cointracking do that?
Also, is cointracking made by the same team who created nxtreporting? That was a great site, but sadly doesn't have the old NXT asset exchange data anymore.
Our Coins and Assets are sourced from: coinmarketcap.com, worldcoinindex.com and cryptocoincharts.info. We are not the team of nxtreporting! Dear CoinTracking Dominik Two questions for you. 1) Can you give any update, road map or schedules for new enhancements - like next quarter CT plans to release x, y and z or like, "by next year we will...." (it's been a little quite on CT's end for the past few weeks). And 2) With the manual trade input/review page, I would like to request that an additional column be added for Trade/Transaction Price. This would help with both trading and balancing accounts. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FJ9KNWnf.jpg&t=665&c=Jjf3vxzQxkAmmw) 1) Unfortunately, we cannot say anything about this at the moment. I will discuss your wish for better communication with the users internally. 2) You can find this information on the Trade Price page: https://cointracking.info/trade_prices.php
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T-Roy
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October 02, 2018, 05:36:38 PM |
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Is it possible to add BLOC.MONEY to Cointracking?
Thanks, Troy
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whatsaprivatekey
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October 03, 2018, 11:28:35 AM |
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Hello I have just joined cointracking and I have a few questions.
Firstly, should I not include fiat deposits and withdrawals when setting up my API? The default setting was not to include these but will I still be able to provide a good CGT report without these?
Secondly, I deposit on coinbase and send to coinbase pro then send btc to binance. So far cointracking reports coinbase to coinbase pro in an odd way and my reports give the wrong value etc because of this. Is this a known issue? Always says my coinbase pro account is negative value
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rasman
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October 08, 2018, 01:53:44 AM |
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According to this thread the ACB (Adjusted Cost Basis) method required for Canadian and Swedish citizens was supposed to be completed in the first quarter of 2018. Any update on this? I'm getting desperate and would pay someone to get this done by mid next week. Without it, many well-meaning taxpayers risk facing harsh fines. [/color] Has there been any CT response on this? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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CoinTracking Dominik
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October 08, 2018, 03:45:06 PM |
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According to this thread the ACB (Adjusted Cost Basis) method required for Canadian and Swedish citizens was supposed to be completed in the first quarter of 2018. Any update on this? I'm getting desperate and would pay someone to get this done by mid next week. Without it, many well-meaning taxpayers risk facing harsh fines. [/color] Has there been any CT response on this? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Hi. We are still working on this, but unfortunately we can't give an ETA at the moment.
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coinzzzpro
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October 08, 2018, 08:40:28 PM |
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Thanks for the service. Another important function for me is monitoring the listing of tokens on the exchange. I want to get information about the token I need as quickly as possible. This is a very necessary function. No one competitor is not doing this service as I have (ERC-20 token - insert smart contracs adress for start monitoring)
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mitkos1
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October 11, 2018, 12:52:37 PM |
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Is there a way to extract the number of realised orders per year? There is a basic statistics for number of transactions but those usually form part of an order. For example: you put on a buy order for 1btc. There are 4 orders of 0.25btc on the sell book so cointracking will show that buy as 4 transactions. For statistical purposes I need to get this info as 1 order or 1 transaction. Is this possible?
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