The best alternative to CryptoTaxCalculator
10 Oct, 2023 · 9 min read
The world of cryptocurrencies is complex and constantly changing. To succeed in this dynamic environment, investors need the right tools to manage their investments and optimize taxes. But is CryptoTaxCalculator really the best option on the market? In this article, we shed light on the current situation and offer a powerful alternative to CryptoTaxCalculator that is superior in many aspects.
What is CryptoTaxCalculator
CryptoTaxCalculator is a tax software platform designed specifically for cryptocurrency, DeFi (Decentralized Finance), and NFTs (Non-Fungible Tokens). The service aims to simplify the complex process of tracking and calculating taxes on cryptocurrency transactions. It supports various types of transactions and can integrate with multiple cryptocurrency exchanges to import transaction data.
We now take a closer look at CoinTracking and show why the market leader is considered the best alternative to CryptoTaxCalculator.
CoinTracking vs CryptoTaxCalculator
CoinTracking has established itself globally and has been on the market since 2012. The platform is a superior alternative and not only offers all the features like CryptoTaxCalculator, but has many more advantages and features.
Price
There are notable differences between the two platforms in terms of pricing. CoinTracking outperforms its competitor with a better price-performance ratio across all pricing models.
For instance, CoinTracking offers a completely free option for up to 200 transactions including tax report generation, while CryptoTaxCalculator would already charge you $99 for a similar service.
CoinTracking also offers an unlimited lifetime account, which can be particularly appealing for traders or DeFi applications. CryptoTaxCalculator instead doesn’t offer unlimited plans. So it’s easy to understand the more transactions you have, the more you will benefit with CoinTracking.
Additionally, the CryptoTaxCalculator’s basic transaction plans do not encompass all of their functionalities, while with CoinTracking you can enjoy an all-in-one solution.
CoinTracking price chart
| Transactions | ||||||
|---|---|---|---|---|---|---|
| Plan | 200 | 3.500 | 20.000 | 50.000 | 100.000 | Unlimited |
| 1 year | 0 | $115.00 | $220.00 | $284.00 | $388.00 | $775.00 |
| 2 years | 0 | $206.00 | $335.00 | $439.00 | $620.00 | $1,188.00 |
| Lifetime | 0 | $408.00 | $967.00 | $1,398.00 | $2,044.00 | $6,026.00 |
CryptoTaxCalculator price chart
| Transactions | ||||
|---|---|---|---|---|
| Tax year | 100 | 1.00o | 10.000 | 100.000 |
| 1 year | $49.00 | $99.00 | $249.00 | $499.00 |
Features
To understand the benefits of CoinTracking, let’s take a look at the core features of both CryptoTaxCalculator and CoinTracking.
Portfolio Tracker
Portfolio tracking features are crucial for real-time monitoring of crypto investments and obtaining detailed information on the portfolio performance.
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Historical Charts | 26.000+ | unknown |
| Current price | 26.000+ | unknown |
| Total Value per Coin | ✅ | ✅ |
| Total Portfolio balance | ✅ | ✅ |
| Total Fiat balance | ✅ | ✅ |
| Total Trades | ✅ | ❌ |
| Trades per Exchange | ✅ | ❌ |
| Trades per Month | ✅ | ❌ |
| Balance by Day | ✅ | ❌ |
| Balance by Exchange | ✅ | ❌ |
| Balance by Currency | ✅ | ❌ |
Import of transactions
Both platforms offer to import transactions from various exchanges, wallets, and blockchains. However, CoinTracking surpasses this aspect by providing more extensive options for importing transactions overall. It is especially appreciated by customers that all import functions work smoothly and without errors.
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Exchanges | 141 | 158 |
| Wallets & Blockchains | 200+ | 335 |
| API Importer | 55 | 68 |
| CSV Importer | 86 | 526 |
| Legacy Importer | 22 | none |
| Transactions limit | unlimited (lifetime) | 100.000 (per year) |
| LP-Token | supported | supported |
| Transaction types | 41 | 44 |
| (buy, sell, send, etc.) | ||
| Backups | 20 | none |
| Sub-accounts | yes | none |
Portfolio Analysis (specific reports)
These reports provide deep insights into your portfolio performance. Compared to CryptoTaxCalculator, CoinTracking’s reports are significantly more comprehensive, making them a valuable tool for any crypto investor.
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Current Balance | ✅ | ✅ |
| Balance by Exchange | ✅ | ❌ |
| Balance by Currency | ✅ | ❌ |
| Coins by Exchange | ✅ | ❌ |
| Realized Gains | ✅ | ✅ |
| Unrealized Gains | ✅ | ✅ |
| Tax-privileged Coins (Short & Long) | ✅ | ❌ |
| Missing Transactions | ✅ | ✅ |
| Duplicate Transactions | ✅ | ❌ |
| NFT Center | ✅ | ✅ |
| Average Purchase Prices | ✅ | ✅ |
| Coin Charts | ✅ | ❌ |
| Coin Price Calculator | ✅ | ❌ |
| User Statistics | ✅ | ❌ |
| API Live Data check | ✅ | ❌ |
| Trading Statistics | ✅ | ❌ |
| Trading List | ✅ | ❌ |
| Trading Prices | ✅ | ❌ |
| Trading Fees | ✅ | ❌ |
| Number of Trades | ✅ | ❌ |
Tax report types
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Tax methods | 14 | 4 |
| Transactions | unlimited | 100.000 |
| Capital gains | ✅ | ✅ |
| Cost basis | ✅ | ✅ |
| Income | ✅ | ✅ |
| Margin gains | ✅ | ✅ |
| Gifts and donations | ✅ | ✅ |
| Fees | ✅ | ❌ |
| Lost and stolen Funds | ✅ | ✅ |
Tax Tool Integration
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Turbotax | ✅ | ❌ |
| TaxACT | ✅ | ❌ |
| Drake | ✅ | ❌ |
| Wiso Steuer | ✅ | ❌ |
| H&R Block | ❌ | ✅ |
Tax Forms (country specific)
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| USA (Form 8949) | ✅ | ✅ |
| USA (Form 8938) | ✅ | ❌ |
| USA (Form 1040) | ✅ | ✅ |
| Canada (T1135) | ✅ | ✅ |
| Germany | ✅ | ❌ |
| Austria | ✅ | ❌ |
| India | ✅ | ❌ |
| UK | ✅ | ✅ |
| Australia | ❌ | ✅ |
| Denmark | ✅ | ❌ |
| Finland | ✅ | ❌ |
| Italy | ✅ | ❌ |
| Belgium | ✅ | ❌ |
| Spain | ✅ | ❌ |
Countries and languages
CoinTracking offers tax reports for over 100 countries worldwide in 15 different languages.
| CoinTracking | CryptoTaxCalculator | |
|---|---|---|
| Countries | 100+ | 22 |
| Languages | English, German, Spanish, French, Italian, Polish, Portuguese, Indian, Russian, Albanian, Turkish, Vietnamese, Catalan, Korean, Chinese |
English, German, Spanish |
Switch to CoinTracking
To take advantage of CoinTracking, it doesn’t require a lot of effort. However, there are a few basic steps that should be followed.
Recapture transactions – Recommended!
It is recommended to export the complete transaction history from CryptoTaxCalculator. All transactions should then be re-entered into CoinTracking. This will ensure that all information is complete and accurate.
Importing data from CryptoTaxCalculator into CoinTracking
Entering transactions can either be done manually for a manageable amount of data, or via an automatic import of an Excel or CSV file. Once the data is imported into CoinTracking, it is important to carefully review and verify its completeness and correctness.
Frequently Asked Questions
about CryptoTaxCalculator alternatives
Conclusion
CoinTracking offers a superior alternative for crypto portfolio management and tax reporting. With its comprehensive features and affordable pricing, the platform is an excellent choice for those who value reliable portfolio management and want to efficiently generate tax reports.
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