Tax

Free Cryptocurrency Portfolio Tracker For Taxes

With the rapid rise of cryptocurrency, more and more people are venturing into digital assets, seeking new investment opportunities. While cryptocurrencies like Bitcoin, Ethereum, and many others have proven to be highly rewarding, they also come with their fair share of complexities when it comes to managing them for tax purposes.

Gone are the days when tax reporting was as simple as submitting a tax return with income earned from traditional investments. For crypto traders, tracking profits, losses, and transactions across a myriad of exchanges and wallets has become a daunting task. As governments worldwide ramp up their crypto tax enforcement, the importance of keeping accurate records for taxes is undeniable.

But, there’s a way to take the guesswork and hassle out of crypto tax reporting—by using a cryptocurrency portfolio tracker. In this post, we’ll introduce you to CoinTracking, a platform that offers a powerful free cryptocurrency portfolio tracker to help you stay organized, manage your holdings, and, most importantly, generate tax reports with ease.

Start tracking your crypto portfolio today with CoinTracking’s free plan: CoinTracking Sign-Up

Why You Need a Free Crypto Portfolio Tracker

1. The Complexity of Crypto Taxes

Cryptocurrencies are not like traditional investments. Every time you sell, trade, or exchange crypto, it triggers a taxable event. For instance, swapping Bitcoin for Ethereum or selling part of your holdings for fiat currency can lead to capital gains, which must be reported for tax purposes. Given the volatility of crypto assets, these transactions happen frequently, and tracking them manually is nearly impossible for most investors.

2. The Risk of Underreporting or Overreporting

One of the biggest mistakes people make when filing crypto taxes is underreporting or overreporting their gains or losses. This can happen when people forget to track all their transactions or miscalculate the cost basis of each asset. By using a free portfolio tracker, you can ensure that every transaction is accounted for, and your tax reporting is accurate.

3. Keeping Track of Multiple Wallets and Exchanges

Most crypto traders don’t just stick to one exchange. Many people use multiple platforms to trade, and some even hold crypto in several wallets. Managing all these different accounts, monitoring your holdings, and keeping track of every trade across these accounts manually is cumbersome. A portfolio tracker can automate this process, saving you time and stress.

Use CoinTracking to seamlessly sync all your exchanges and wallets in one place: CoinTracking Sign-Up

Introducing CoinTracking: Your Free Crypto Portfolio Tracker

CoinTracking is an all-in-one cryptocurrency tracking and tax reporting platform that offers a free plan with essential features to track your crypto portfolio for tax purposes. With CoinTracking, you can manage your crypto holdings, track your transactions, and generate accurate tax reports, all in one place.

Let’s dive into the features of CoinTracking and how they can help you stay on top of your crypto portfolio.

Ready to get started with CoinTracking? Sign up for the free plan here: CoinTracking Sign-Up

Key Features of CoinTracking’s Free Crypto Portfolio Tracker

1. Automatic Transaction Import

Manually entering each crypto transaction can be time-consuming and error-prone. CoinTracking eliminates this problem by allowing you to automatically import transaction data from over 75 supported exchanges and wallets. Whether you’re trading on major exchanges like Binance, Coinbase, or Kraken, or using decentralized platforms, CoinTracking can sync your transaction history automatically, saving you time and ensuring accuracy.

Import from exchanges: Sync your transaction history directly from supported exchanges.
Wallet import: Import transactions from your cryptocurrency wallets.
Decentralized exchanges: CoinTracking also supports decentralized exchanges, so you can track transactions even in decentralized environments.

By automatically importing your transaction data, CoinTracking ensures that every transaction is recorded, no matter how many exchanges or wallets you use.

Start syncing your transactions today with CoinTracking’s automatic import feature: CoinTracking Sign-Up

2. Real-Time Portfolio Tracking

The crypto market is highly volatile, and your portfolio value can change drastically within minutes. CoinTracking offers real-time portfolio tracking so that you can always know the current value of your holdings.

The platform consolidates all your holdings from different exchanges and wallets into one easy-to-read dashboard. This gives you a clear overview of:

The current value of each asset
Your total portfolio value
Historical performance of your investments

For tax purposes, you’ll also be able to track capital gains and losses in real time. Whether you’re trading or holding long-term, CoinTracking makes sure you’re always in the know.

Track your crypto portfolio in real-time with CoinTracking’s free plan: CoinTracking Sign-Up

3. Tax Reporting Made Easy

When tax season arrives, the last thing you want is to scramble to organize your crypto transactions. CoinTracking makes tax reporting a breeze with its built-in tax reporting feature. The platform calculates your capital gains, losses, and income from crypto activities such as trading, staking, and NFTs.

Here are some key tax-related features CoinTracking offers:

Capital gains and losses: CoinTracking calculates your taxable gains and losses based on the transactions in your portfolio.
Tax reports for multiple jurisdictions: The platform generates tax reports that comply with tax regulations in your jurisdiction, including the United States, the EU, and other regions.
FIFO and LIFO accounting methods: Choose the accounting method that suits your needs, whether it’s FIFO (First In, First Out) or LIFO (Last In, First Out).
Detailed tax reports: CoinTracking generates detailed reports, which can be directly used for tax filing.

Even with the free plan, you’ll be able to generate basic tax reports that summarize your taxable events for the year.

Generate tax reports with ease on CoinTracking: CoinTracking Sign-Up

4. Track Multiple Assets and Wallets

With the increasing number of tokens and cryptocurrencies being launched, it’s crucial to track a diverse range of assets within your portfolio. CoinTracking allows you to track an extensive list of cryptocurrencies, tokens, and NFTs, all within one platform.

Whether you’re holding Bitcoin, Ethereum, altcoins, or NFTs, CoinTracking will automatically track the value of each asset and calculate your gains and losses accordingly. You can also sync your wallets, exchanges, and DeFi platforms to consolidate all your transactions in one place.

Track all your assets across multiple wallets and exchanges with CoinTracking: CoinTracking Sign-Up

5. Mobile-Friendly and User-Friendly Interface

CoinTracking offers a mobile-friendly interface, allowing you to track your portfolio and transactions on the go. Whether you’re traveling or just away from your computer, you can easily access your portfolio, check your gains or losses, and keep track of new transactions.

Why CoinTracking Is the Best Free Portfolio Tracker for Taxes

There are several reasons why CoinTracking stands out as one of the best free portfolio trackers for crypto tax purposes:

Comprehensive features: Even with the free plan, you get access to a wide range of features like automatic transaction imports, real-time portfolio tracking, and tax reporting.
Easy-to-use interface: The platform is designed to be user-friendly and accessible, even for beginners.
Automatic transaction tracking: Forget about manually entering each trade—CoinTracking automates the process, saving you time and effort.
Supports multiple wallets and exchanges: CoinTracking aggregates data from a wide range of wallets and exchanges, ensuring you have a complete view of your portfolio.
Accurate tax reports: CoinTracking’s tax reports are designed to help you file your taxes accurately and in compliance with local regulations.

Start using CoinTracking today to simplify your crypto tax reporting: CoinTracking Sign-Up

Conclusion: Make Crypto Tax Reporting Easy with CoinTracking

Tracking your cryptocurrency portfolio for taxes doesn’t have to be difficult or time-consuming. With CoinTracking’s free portfolio tracker, you can easily manage your crypto holdings, track your transactions, and generate accurate tax reports, all from one platform.

Whether you’re new to crypto or a seasoned trader, CoinTracking offers the tools and features you need to stay organized and ensure that your taxes are filed correctly. Best of all, you can get started with a free plan that provides all the essential features you need for effective crypto tax management.

Take the hassle out of crypto tax reporting—sign up for CoinTracking’s free portfolio tracker today: CoinTracking Sign-Up

Start tracking your crypto portfolio with CoinTracking and make tax season a breeze!

Chukwudi Dozie

Chukwudi Dozie is a digital expert skilled in website creation, SEO writing, and crypto education. He helps businesses grow online and teaches people how to navigate the crypto world. Passionate about tech, he shares clear, practical tips for all levels. Contact: WhatsApp: +2349066044999 Email: dozieseo@gmail.com