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

[CoinTracking Dominik]

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?

This is not possible if the Exchange delivers these transactions with different trade IDs and our software therefore does not know that it is a common order.

[mpfx]

Qryptos/Quoine have merged into a new exchange called Liquid. Will you offer support for this exchange?

[CoinTracking Dominik]

Qryptos/Quoine have merged into a new exchange called Liquid. Will you offer support for this exchange?

We'll take a look. We have already received information about it. Thank you for the hint.

[BenitaM]

Hello Dario and everybody else,

I have a related situation here and would like to build on the example mentioned below. So, same situation, but after selling a fraction of my coins, the cost per unit suddenly showed a value which is lower than any price I have purchased the coins at.
To go with the example, the cost per unit is now 0.17. I just can't figure this out. Any help is appreciated.

Additional question: Why do you apply fifo at all? I can't see the logic behind it.

Thanks in advance,

Benita

@Galletera:
The 'cost per unit' will be calculated from the weighted average of all unsold assets according to your selected method (e.g. first-in first-out).

Let's use your example:
-> buy (50) units at 0.18, (35) at 0.25 and (15) at 0.40.
selling 10 units will result in a remaining amount of:
-> buy (40) units at 0.18, (35) at 0.25 and (15) at 0.40.
And this will lead to a different cost per unit price as 10 units @ 0.18 have already been sold.

Correct, counterpart prices will include the spread and the fees.

The average prices we are using will match Bittrex prices in most situations.
But yes, adding more exchange prices is already on our to do list

Best,
Dario

[CoinTracking Dominik]

Hello Dario and everybody else,

I have a related situation here and would like to build on the example mentioned below. So, same situation, but after selling a fraction of my coins, the cost per unit suddenly showed a value which is lower than any price I have purchased the coins at.
To go with the example, the cost per unit is now 0.17. I just can't figure this out. Any help is appreciated.

Additional question: Why do you apply fifo at all? I can't see the logic behind it.

Thanks in advance,

Benita

Hi BenitaM.
Please check on the Gains page table 2 if there are warnings for sales of this coin (cost basis 0) and correct them.
FIFO is a method used in many countries. Why shouldn't we offer it?
You can also change the calculation method (FIFO, LIFO, HIFO and LOFO, etc).

[bitcoinminer0319]

what is the difference between mining vs income? if i am mining, which one i pick?

[manuelpirata]

I have been using CoinTracking for the past two years and all I can say are good things. One of the smartest customer support I've ever experienced. I've used about 4 other portfolio tracking, and none come close to what CoinTracking offers, usability and design is great.

The companion app is amazing as well. Now I can quickly see a snapshot of all my investments, regardless of where they are located, in one easy to use app.

Although the free version is good, import each CSV file from each exchange is time consuming, with the PRO version all your transactions are up to date with one time setup.

You can use my affiliate link which gives you 10% discount. https://cointracking.info/?ref=M326096

Hope this helps!

[CoinTracking Dominik]

what is the difference between mining vs income? if i am mining, which one i pick?

Mining is taxed differently in different countries. So if you want to use and distinguish your Mining entries from other income types like PoS, Masternode and many more, choose "Mining".

I have been using CoinTracking for the past two years and all I can say are good things. One of the smartest customer support I've ever experienced. I've used about 4 other portfolio tracking, and none come close to what CoinTracking offers, usability and design is great.

The companion app is amazing as well. Now I can quickly see a snapshot of all my investments, regardless of where they are located, in one easy to use app.

Although the free version is good, import each CSV file from each exchange is time consuming, with the PRO version all your transactions are up to date with one time setup.

You can use my affiliate link which gives you 10% discount. https://cointracking.info/?ref=M326096

Hope this helps!

Thank you for your kind words. That makes us happy.

[WickedPigeon]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

[PontusLSE]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks
https://i.imgur.com/vmOEtMp.jpg

I am having the same problem. I do hope it will get resolved soon.

[cryptowally]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

Same here - seems it's been weeks since any import from Binance.  Last successful add from Binance API was 2018-10-25, then it was a week before that. 

I know Binance can be extremely restrictive on their API pulls, and they do not publish all of their "rules", because they do not want anyone to be able to game the system.  I believe Cointracking is doing a lot and expending effort to try to fix this, as I'm sure they're aware and intent on making customers happy.

As a suggestion to Cointracking, in case the following items weren't thought of:

• Binance's API responses warns you when you're about to break their rules, so when they respond with the "Back off" messages, be sure to back off to prevent the full ban.  For example, if you get 429 responses, that's a warning to slow down.  418 is when you've been auto banned due to ignoring their 429 responses too many times.  When you get the red error shown, that means you've been more "hard banned" by IP, which in my experience means the 429, and 418 errors were ignored, OR a malformed request was sent and the WAF (web application firewall) stepped in and is now blocking requests.
• Throttle yourself in a queue so all your requests are evenly dispersed by entitlement and age, and spread out more IP addresses.
• Favor the customers who pay more.  Unlimited subscribers should be queued first, then Pro.  If needed, go one Ultimate, then one Pro. Increase intervals to always prevent the ban per IP.
• Set age limits where a certain age by entitlement triggers an increase in queue.  For example, a Pro waiting 5 days is bumped up the queue ahead of an Unlimited waiting 2 days, but not ahead of an Unlimited waiting 3 days.
• "Spread out more IP addresses" - I realize IP addresses are not "free" but VPS hosts and proxies to host your API pulls are cheap enough, especially if you have paid subscribers.  As low as $5/month in most places, and that's retail.  I don't know how many you can logistically support from one device, or how long you have to wait between queries, but it'd be worth the calculation, I'd bet.
• I'm pretty sure Binance lowers the "risk profile" of API queries for a given API key if it knows the IP address it's coming from.  If you provisioned said VPS host dynamically out in the cloud, assigned it to a swath of users, and showed the dynamically-assigned IP address on the user's Binance API page, such that we could put that on our API Key page at Binance, it would likely reduce the risk of an IP ban for that specific API key, and that would help you out a lot.  For security reasons, you would want to make sure this was an IP address from a VPS host and not from your data center.  For throttling reasons, you would also probably want to assign, ratio-wise, a set number of Unlimited subscribers together with Pro subscribers so that the Unlimited queuing mentioned above would work out better. Note that each IP address would need to be sticky to the user and stay that way.
• If you haven't already, maybe reaching out to Binance and discussing this issue with them would be a worthy endeavor.  I would think they (the largest fee-based exchange by volume) would appreciate you (the largest fee-based tracker, I think) who helps people make sense of their trades.
• Is there still no way to combine CSV and API - is that due to the way BNB and fees are handled?  I wouldn't mind filling in the gaps every few days myself by importing CSV file... I'm hurting quite a bit recently without my Binance trades.

I still love Cointracking!

(and if anyone needs a 10% link from me, and finds my tips helpful, feel free to use my personal code at https://cointracking.info?ref=C937652 or GBU's at https://gunbotuniversity.com/cointracking)
 

[CoinTracking Dominik]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

Binance ban usually lasts only for a couple of hours, so if you run into the ban again in the future, it should work again after one or two hours. You can also start the API job manually once.
We have contacted them regarding this issue and asked them to raise our call limit. In addition, we are constantly working to minimize the hits. As this ban is put in place by Binance, there is nothing we can do about it.
Apologies for the inconvenience caused.

[WickedPigeon]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

Binance ban usually lasts only for a couple of hours, so if you run into the ban again in the future, it should work again after one or two hours. You can also start the API job manually once.
We have contacted them regarding this issue and asked them to raise our call limit. In addition, we are constantly working to minimize the hits. As this ban is put in place by Binance, there is nothing we can do about it.
Apologies for the inconvenience caused.

Thanks for the reply. I see that the API eventually makes its connection and uploads the trades. It just takes time. All is well that ends well.
 

[MegaHustlr]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

Binance ban usually lasts only for a couple of hours, so if you run into the ban again in the future, it should work again after one or two hours. You can also start the API job manually once.
We have contacted them regarding this issue and asked them to raise our call limit. In addition, we are constantly working to minimize the hits. As this ban is put in place by Binance, there is nothing we can do about it.
Apologies for the inconvenience caused.

Thanks for the reply. I see that the API eventually makes its connection and uploads the trades. It just takes time. All is well that ends well.
 

Having the same problem. My last import was on August 15th, 2018. Binance API errors with the same error described above, mentioning the ban will last till 1538878129544 which maps to October 7th, 2018 but today is already November and I still can not import.

I think this is not only a problem on the Binance side. When I go to my jobs overview it tells me "0 trade pairs," but this is obviously wrong, it should be a couple of dozens. Also, finally, when I go to the job details, it tells me this job never succeeded importing anything.

Can you double and tripple check this? Thanks

[WickedPigeon]

I keep getting this, even when I add a new API? Is there a solution?
Many thanks

Binance ban usually lasts only for a couple of hours, so if you run into the ban again in the future, it should work again after one or two hours. You can also start the API job manually once.
We have contacted them regarding this issue and asked them to raise our call limit. In addition, we are constantly working to minimize the hits. As this ban is put in place by Binance, there is nothing we can do about it.
Apologies for the inconvenience caused.

Thanks for the reply. I see that the API eventually makes its connection and uploads the trades. It just takes time. All is well that ends well.
 

Having the same problem. My last import was on August 15th, 2018. Binance API errors with the same error described above, mentioning the ban will last till 1538878129544 which maps to October 7th, 2018 but today is already November and I still can not import.

I think this is not only a problem on the Binance side. When I go to my jobs overview it tells me "0 trade pairs," but this is obviously wrong, it should be a couple of dozens. Also, finally, when I go to the job details, it tells me this job never succeeded importing anything.

Can you double and tripple check this? Thanks

I have had luck with the following semi-manual "pull." I create a new API - this sometimes updates right away but not always, but either way, I just wait a day.  Then I go to the API and press up date now. While this doesn't work at that moment, I still get the error, within 24 hours it seems to update on its own. If it doesn't work, I start over with a new API, wait, press, wait, repeat.

Good luck,

Not exactly a fix, but I've been getting the data via API that way.

[CoinTracking Dominik]

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Update for exports
When exporting the tax report and the report for (un)realized gains, the totals in the footer are now also exported (for Excel, PDF and print table).

New Imports
- itBit API Import
- Poloniex CSV Import for Borrowing
- Bitfinex CSV Import for Deposits and Withdrawals (updated to the new Bitfinex format)

[PoetaMaledetto]

Dear CoinTracking User. We would like to inform you about the following changes / improvements:

Update for exports
When exporting the tax report and the report for (un)realized gains, the totals in the footer are now also exported (for Excel, PDF and print table).

New Imports
- itBit API Import
- Poloniex CSV Import for Borrowing
- Bitfinex CSV Import for Deposits and Withdrawals (updated to the new Bitfinex format)

is it possible to add wallet from stellar, wanchain and tezos?

thanks

[CoinTracking Dominik]

is it possible to add wallet from stellar, wanchain and tezos?

thanks

Hi Poeta,

we use the chainz.cryptoid.info API to import Altcoin Wallet transactions. So we can only import the Altcoins that are available there.
For now, you can enter the transactions either manually on the "Enter Coins" page, with the "Excel Import", or with the "Custom Exchange Import". Both are very flexible and customizable and data can be uploaded in a bulk action.

[colicco]

How to disable crypto/crypto gains? I need calculate only crypto to fiat gains for taxes.

Does CoinTracking have this feature. Calculate realized gains only from crypto to fiat trades and ignore crypto to crypto realized gains.
If both are enabled it calculate my gains wrongly with FIFO.
I'm using free version and I haven't figured out yet, but it's somehow possible or not?

[CoinTracking Dominik]

How to disable crypto/crypto gains? I need calculate only crypto to fiat gains for taxes.

Does CoinTracking have this feature. Calculate realized gains only from crypto to fiat trades and ignore crypto to crypto realized gains.
If both are enabled it calculate my gains wrongly with FIFO.
I'm using free version and I haven't figured out yet, but it's somehow possible or not?

Hi Colicco,
I'm afraid that's not possible.