What do people think of CoinTracker?
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Overall ratings
3 ratings
72 Reviews
Review of CoinTracker
their CVS files are so off you might get a heart attack. it's not funny. massive headaches sorting thru tons of duplicated trades . Moving on after I straighten out 2021 - Others can't be this bad or confusing
Does not recommend this product
Review of CoinTracker
Got this mainly to help with filing taxes. Works pretty well for aggregating data from centralized exchanges. It sucks though at dealing with on-chain transactions, especially deFi. It consistently gets things wrong and is very difficult/impossible to correct.
As an example, I purchased 50 of a token (let's call it ABC) on Pancakeswap for $100 of BNB. I then immediately bought liquidity tokens with those 50 tokens of ABC and more BNB, thus triggering a "sale" of my ABC for tax purposes. Now, the software somehow gets the cost basis of ABC correct when I buy the tokens ($100), but when I go right around and "sell" them, it somehow now assumes a cost basis of ~$10 and thus I have to pay taxes on a non-existent gain. This is an obnoxious failure of the software, but what makes it much worse is that the software won't even let me manually correct the cost basis on the sale. Ugh.
The application also seems to often get the cost basis for things wrong and trying to find the right cost basis is the main headache I was trying to avoid with this software. The end result has been hours of work poured into an application that I know is still getting a bunch of things wrong.
If you are just using centralized exchanges, then this application will probably work well for you. However, if you're using deFi, I'd recommend saving yourself the headache and just steering clear. You'd honestly probably be better off making your own spreadsheets than playing an endless game of error whack-a-mole.
Does not recommend this product
Review of CoinTracker for NFTs
I do not care about NFT tracking at all. I want them to integrate support for native Algorand wallets, build a way to use referral credits into their site, and maybe answer a customer support email every once in a while. They are jumping the gun and not focusing on building the proper foundation.
The funny thing too is. All of my NFTS are on the Algorand blockchain in the native Algo wallet which, like I said, CoinTracker has never bothered to integrate. What a joke!
Does not recommend this product
Review of CoinTracker
I'm not happy with them. I have over $80 in referral credits but there's no way to actually use them when purchasing a tax plan. I emailed customer support about this over two weeks ago and have still not received a response. Unacceptable. On top of that, they STILL have not added support for Algorand wallets. Come on!!!
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