As a cryptocurrency trader and miner I have the need of tracking multiple wallets and exchanges. I tried several solutions like homemade excel tracking, Blockfolio, etc.. but they somehow lacked the automation part which I was looking for.
Then, during one night of intensive googling I came across Cointracking.info (Link with 10% discount for the paid plans!!).
As with every crypto website, I was skeptical at first, but after some proof reading of reviews on popular forums I decided to give it a try.
The GUI
Landing page
The GUI went to a complete redesign and I have to say it looks much better now than when I discovered it.
It is sleek, dynamic responsive and very well designed.
You immediately get:
- What's the service for
- What are the main features of the product.
- It's free!.
- mmmm....I am not sure, but wait...there's a demo available, I'll go check that out
Themes
Let's start by the greatly appreciated small details which give you a smile when you know you're gonna lose hours of your life looking at that pixels:
Demo - Dashboard
The juice - The great features
Trade statistics
Trade List
In this screenshot I deliberately expanded the Filter and the Advanced Search so you can really have a glance on the capabilities offered for you crazy crypto-traders.
Trade Prices
A different view of all your trade, focused on prices in your favorite currency and BTC.
More info
Trade Prices Table
This table contains all your trades including their converted trade price at the time of transaction.
Type: Can be "Trade", "Deposit" or "Withdrawal"
* Buy: The bought amount and currency
* Value in BTC: The buy amount converted in BTC at the time of transaction
* Value in EUR: The same, just in your account currency
* Sell: The sold amount and currency
* Value in BTC: The sell amount converted in BTC at the time of transaction
* Value in EUR: The same, just in your account currency
* Spread: The difference between the buy and the sell value in percent
* Exchange: The name of the exchange (specified when you use a CSV or API import)
* Trade Date: The day and time of your transaction
Notes on the spread:
Usually the sell value of a trade is a few percent higher than the buy value. That's because a sale includes the order books spread and a fee.
The spread should not be more than 5% for well-traded coins on a good exchange.
For low-traded coins or on bad order books it can be more.
If the spread is too much or too low, please make sure your entered trade data is correct (especially the time, the buy & sell values and both currencies).
When you think, your trade data is correct, have a look at the Coin Charts. Please check the prices for both currencies (the buy and the sell currency) at your transaction time in the chart. Should the price not be correct, you can fix it on the 'Enter Coins' page by editing the 'Asset value' in the edit form.
Export: You can export this table by clicking on the export buttons.
Column Sorting: Click on a column name to change the sorting. Shift-Click another column to sort multiple columns.
Additional Trade Information: Click on the blue plus on the left of each row, to display additional information.
Current Balance
Balance By Day
Balance by Exchange
Balance By Currency
Details for all your coins and currencies including trades, amounts, values and volume, grouped by day, week, month or year.
Use the filter to disable transaction types like 'deposits' and 'withdrawals' or to exclude exchanges and groups.
Trading fees
This is a very interesting feature. It will show what has been spent on fees.
Fees are an important aspect of trading, especially for day traders and bot users.
Tax free coins
Another fantastic feature. As Cointracking.info is a German company they are aware that in this crypto-friendly country, the coins being held for more than one year can be sold tax free!.
On the other hand, if you sell your coins before the one-year hodling period (no, this is not a typo) you are subject, in most case to a 25% speculation gain tax on the value of the transaction (You can use both the buying and the selling coin, please see the chapter about the Tax report feature) calcualted at the time it happened.
I think this is a great incentive for people to invest intelligently without relying on mathematics only. This also greatly encourage people on using crypto as a mean of payment (When exchanging crypto for goods you are not subject to speculation tax!).
Realized and Unrealized Gains
The list of awesome services being offered to crypto users is not finished. Here on Cointracking.info you really have everything you need to dig deeper and deeper into your portfolio and find loopholes in your strategies.
Trade Analysis
Per-pair analysis is available and really helpful:
Average Purchase Prices
How to load data
There are several ways of importing your data. The great thing is that you probably won't need to manually import anything as most exchanges support automated API import.
Exchange imports (API based)
Tons of exchanges are supported:
The process is straightforward, instructions are provided per exchange.
You know what is supported and what's not and you have control on scheduled import runs.
An important note on security
Please follow the provided instructions in order to create read-only API keys. In this way, even if a data-breach would occur, your funds will be safe.
Exchange imports (mainly CSV based)
Some imports from API do not support some data:
That is why it is also possible to cover using CSV import which in most of the cases supports every aspect of exchange movements:
In every case, very detailed instructions are provided, so you will not need any special technical knowledge to import all your trades.
Wallet import
Not only imports are supported from other services such as Blockchain.info:
But you can also have Cointracking.info automatically pull data from your wallet public key.
No need to manually insert transactions from your private wallets!
Bulk import
You can also import CSV and Excel data into your account by using a specific format.
This is useful if your exchange is not supported. You may create an Excel spreadsheet converting the CSV exported from the exchange into that format and voila!
I know it is a bit technical, but this is really in case you use a little-known exchange which is not supported.
You can also use this function to restore backed up transactions exported using the Trades Backup function!
Overview and Manual Import
Trends and Charts
Coin Trends
Coin Charts
Coin Price Calculator
User Statistics
This contains stats of Cointracking.info users. It shows also some stats in relation to your account.
I have not included screenshot of each graph as some contain private data, but have a look at the others!
Bitcoin Analysis (experimental as of now)
Very very interesing feature, will have a closer look at that!
The Forecast
Important: As everyone knows, a forecast is of course impossible. Nevertheless, each course (whether a stock or digital currencies) has a particular pattern, which can be evaluated in the long term. That is what this site makes. It analyzes several factors (eg. past developments, prices, trading volume, foreign exchange rates, Google Trends, time, day, etc.), read the pattern and calculated from currently 12,472,560 records a prediction. The program is not a neural network, but it analyzes the actual predictions and is able to learn from mistakes.
Please do not come up with the idea to trade over your limit, just because this tool tells you to do so. Rather, you should use this tool to see the development of prices and see possible probabilities. You need to interpret the values alone.
The forecast chart
The forecast graph consists of several values, all of which can be added or removed in the legend. Here is a detailed description of the legend:
Price: The current course of Bitcoins in Euro.
Forecast (long term): This is the forecast value, which was calculated on the basis of many factors.
Range: An area that represents the forecast in a plus/minus zone. The forecast value is always in the middle of the area.
If the course is in the middle of the range, the prediction was accurate. Otherwise, it was wrong.
The range is indicated by plus / minus one, five and ten percent. By strong changes of the current trade volume, the range may increase, which indicates generally a stronger price fluctuations in the next few minutes / hours.
Forecast (short term): This is a different prediction that is based only on events of the last hours.
Risk: The risk indicates the probability of a price change. Although I often specify the value in percent, it is more a score.
If the score is low, a low-price change is expected, the probability of a large price change is also very low.
At a high level a large price change is expected. Also, the probability of a large price change increases significantly.
The forecast is always determined for now + 3 hours. A given estimate is not corrected later. Even if the program noted later that it was wrong. Zoom with the mouse in the yellow area to see the forecast better.
BTC Risk-O-Meter
Large pointer: Indicates the current probability of a price change in 3 hours (see Risk).
Small pointer: Indicate the development. If the course will rather go down (red arrow) or up (green arrow).
The more the little pointer is removed from the large pointer, the greater the likelihood that the price goes up or down.
Hit rate: Indicates how often the forecast in which Range was right.
Additional charts
Bitcoin price per weekday: Here you see, that the price on certain days is always higher or lower than on other days.
Bitcoin price per time: The same as above, only for 24 hours. Again, it is clear that the time plays a role for the course.
Bitcoin price and trade volume: No Forecast, displays only the development of the course, depending on the trading volume. Here it is clear that each increase of the trade volume is followed by a strong price change.
Google Trends: How often a term was searched.
The Tax Report
"...in this world nothing can be said to be certain, except death and taxes."
— Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789
As I mentioned before, this is a very useful feature as in the end we should all pay taxes.
The guidelines here in Germany are not always clear, so I suggest anyhow to refer to a professional advisor to avoid painful mistakes!
(PS: you might check out this thread from toytowngermany.com an english speaking forum about Germany)
Account
There are some nice features for your account management which are quite interesting as well:
The App
I used the Android widget for quite a while. Very handy!
For the tech-savvy: The API!
For now the methods are quite limited. I hope they will expand it in order to query more data out of all the analytical features:
Pricing for PRO plans
For most of it the service is free, however if you want to use API import, access to the tax report and to have your trades automatically backed up you will have to go for PRO or UNLIMITED.
I strongly advice to go for UNLIMITED as several features are limited to 3500 trades and unless you do not trade too much you are gonna reach that limit.
The prices of the plans are in BTC and by my opinion they are not too expensive for the service provided.
Bottom line : The Verdict
It is a good service so far, however in situations where you have to control several exchanges and wallets, the values may not match and it is very hard to check if you have thousands of trades.
I see the team improving the service quite regularly and I see a great potential in this platform.
I am myself an UNLIMITED user and I use this service to track taxes and all my portfolios.
PROs:
- Tons of features, charts, insights.
- Great trading resources (Trading fees, gains, bitcoin analysis, etc..).
- Very easy to use.
- Lots of options for data input.
- Automated API data input.
- Unlimited plan not overpriced.
CONs:
- May get complex to find the needle when wrong values are displayed. There are though walkthrough guides and documentation provided by them to help you.
- API is limited and not accessing all the awesome analytical features.
- If you have tons of trades there may be accuracies.
- Exchanges sometimes do not report all trades, leaving you a bit alone figuring out the holes in your reports...
Final notes
Thank you for reading my review!
If you plan to subscribe please use the link Cointracking.info, you are gonna receive 10% on all paid plans.
Please feel free to comment, criticize, praise or condemn my review! I am open for discussion and I look forward to receive the steemians thoughts and experiences!