Contact & FAQ

To use CoinTracking and see the value and the profit / loss of your trades, you need to enter the amount of your coins first. This can be done on the Enter Coins page.

There are three different ways to do so:

• Manual Entry
• Exchange Import
• Automatic API Import

To import from an exchange or API, click on the exchange logo and follow the steps.

To create a manual trade, click the New button above the table.

Example:

Please check the chapter Enter Trades in our Documentation for more information.

Most importers can automatically import deposits and withdrawals.
If this is not the case, you can do this manually on the Enter Coins page.

Example:

Example:

Example:

If fees have been included in your transfers, check the examples in the section: How do I enter my fees?

Most importers can automatically import fees.
But you can also add them manually on the Enter Coins page once you have switched the table to Table View: Extended.

Please note that the purchase and sale values displayed on CoinTracking already include all fees.

Example:

Example:

Example:

Example:

CoinTracking automatically records prices for new coins as soon as they are listed on an exchange.

ICO Coins or assets that are not listed on any exchange yet can still be registered in your CoinTracking account.
To do this go to the Enter Coins page, create a new trade and enter the amount and currency of the purchased Coin or Asset. (The currency will not be displayed in the drop-down, but can still be saved.)

Once the new currency has been saved, it appears in the 'Summary' box on the right.
The currency value will be dashed. Click on it to enter a custom price.

For ICO Coins it is recommended to use your own purchase price.

Use the 'Best Price' option to override your custom price as soon as your currency is traded on an exchange.

There are 2 recommendations for Coins with a Fork.

1) The easy way:
Add the new Coin as 'gift' with the initial price as cost basis.
For example - Adding your BCH after the BTC Fork: Add your BCH as 'gift' with a cost basis of 274.59 USD per coin (the initial price on August 1st).

2) The correct way:
To make it 100% tax compliant, you would have to search for every single transaction you made with the old Coin and create an additional transaction at the same date/time and with the same amount (just with a 0 USD cost basis) for the new coin.
For example - Adding your BCH after the BTC Fork: Search for every single BTC transaction you made (before August 1st) and create an additional BCH transaction at the same date/time and with the same amount (just with a 0 USD cost basis).

At the end your new Coin amount will be the same as your old Coin amount.

If a Coin is renamed, you will need to rename all your old Coins as well in order to achieve the correct cost basis and according profit.

This can be done using the 'Bulk Edit/Delete' button on the 'Enter Coins' page or by changing them in the trade table on the same page.
Using the bulk function, select 'Overwrite Coins' from the dropdown and replace your old Coin ticker with the new one.
After that, all values are displayed again correctly.

There are 2 ways you can track your portfolio:
1) Overall based (recommended)
2) Exchange based

1) The overall solution is recommended, as it will display your total balance together with your expenses.
To use that method, do not track your deposits and withdrawals in your base FIAT currency.

Let's say you have deposited 1000 USD on Kraken and you have bought 1 BTC for 1000 USD.
Do not enter the 1000 USD deposit, but only the trade.

The result will be:

The USD value will be negative, because you have spent that amount for your coins.
It is not the current amount of USD displayed in your exchange.
We are recommending this method, as it shows the total expenses used to buy your coins.

Let's say you are selling your BTC later on for 1650 USD
The new result will be:

As you can see, the total value is always the difference between income and expenditure.


2) The exchange based method will show the amount of coins and FIATS on your exchange.

Let's say you have deposited 1000 USD on Kraken and you have bought 1 BTC for 1000 USD.
Enter a deposit of 1000 USD (the money you have sent to Kraken) and the trade.

The result will be:

Selling your Bitcoin for 1650 USD will result in:

You can see, that the total value is now the amount of money and coins listed on your exchange, but does not take into account your spent money from your bank account.

Which method you choose is up to you, but you should not mix them.

Summary:

(Please find the detailed version below)

• Please ensure all your trades have been imported correctly.
• Try to remember, if you had some trades on other exchanges that are not listed in CoinTracking.
• Some exchange imports can not import deposits and withdrawals. You will have to enter them manually.
• Please try to remove all your trades and import them step by step. Always confirm the imported data on the Enter Coins page.
• Decide which way you want to track your trades on CoinTracking. See Different ways to track your portfolio for more details.
• We can only import trades that are listed in a CSV file or an API. We do not have any influence over the accuracy of this data. If some trades are missing, please try to add them manually.
• Please try to get familiar with the tracking system of CoinTracking. Usually it will take you some time at the beginning to import all your trades correctly.
• Please read through this FAQ for more information.

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The most common causes for incorrect or negative values are:

1. You did not import all your trades in CoinTracking

The main reason for incorrect values is the fact that not all of your trades have been imported.
The lack of trades distorts the entire balance sheet and can lead to wrong values.

Example:

Always check, if you have entered all your purchases and sales completely in CoinTracking so that no values are missing.
Also consider, if you have bought coins on already closed exchanges or if you got come coins as a gift. If so, enter them manually.

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2. Your transactions between exchanges or wallets (deposits & withdrawals) are not correct or incomplete

The second most common cause of incorrect values are false or missing transactions between exchanges or wallets.
Note that transactions between two addresses (including exchanges and wallets) must always be entered with two entries.

Example:

And this is where the mistake often happens.
If you only entered the withdrawal, your displayed value is decreased.
If you only entered the deposit, the value is increased.
In both cases your balance will be distorted.

Please check whether all your transactions between two addresses have been entered correctly.
Some importers can not import deposits and withdrawals, because they are not listed in the CSV.
In such a case, enter the missing transactions manually.

Alternatively, you can correct your values by deleting all your deposits and withdrawals.
This is done on the Enter Coins page, by filtering for 'IN' and 'OUT', selecting the results and then deleting them.

If you have completely imported all your trades, your coin values will now be correct.
Note, however, that deleting all deposits and withdrawals may fix your total coin amount and value, but distorts the 'Balance by Exchange' calculations.
Since your deposit and withdrawals will always cancel each other out, your CoinTracking balance after deletion will be very close to your actual value (the only exception being transaction fees that will be missing).

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3. You have swapped something in your coin entry

Look at your trades on the Enter Coins page and check if everything is correct.
Perhaps you have mistyped the name of a coin? Some coins sound very similar.


If you can not find the missing difference despite this instruction, you can clear negative coins with a manual deposit (IN) equal to the negative sum.
However, this can increase the gain and thus also the tax.

If you have consciously entered negative values, you can ignore the warning in the box.

Please ensure that your trade date is not in the future.
If all of your trades have the current time as trade date, the chart will only display one single point and thus look empty.
In this case, please wait a few minutes or enter more trades.

CoinTracking uses different calculations to evaluate your trades:

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Total Account Value:

On some pages (for example, under 'Enter Coins'), you will find a 'Summary' box on the right hand side.
These numbers reflect the current value of all your currencies and coins.
It is the value you would get right now, if you sold all your coins and currencies. (appears only, if at least one commodity is listed)

• Sum Coins: The current value of all your coins like BTC, ETH, LTC...
• Sum Commodities: The current value of all your commodities like Gold, Silver... (appears only if at lease one commodity is listed)
• Sum Currencies: The current value of all your currencies like USD, EUR, GBP... (at the beginning probably negative, since coins are usually bought with currencies)
• Total Account Value (or sometimes called 'Profit/Loss'): The sum of all three values (Coins + Commodities + Currencies). It is the difference between income and expenditure.

Example:

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Unrealized gain:

Unrealized gain is the profit/loss you would achieve, if you sold all your coins right now.
It is calculated from the average purchase price of a coin and the current market price.

Calculation:

Example:

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Realized gain:

Realized gain is the profit/loss you've already achieved with your sales.
It is calculated using FIFO from your purchase price of a coin and your sales price.

Calculation:

Example:

Example:

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Balance:

Usually refers to the current value of a coin or currency.

• Current Balance: The current value for all your currencies
• Daily Balance: The value for all your currencies on a specific date in the past
• Balance by Exchange: The current value for all your currencies grouped by exchange or trade-group
• Balance by Currency: The current value for all your currencies grouped by currency and month or year

There are two ways to calculate the cost basis:
Average of unsold Assets as Cost Basis and Average of all Assets as Cost Basis.

We recommend using the Average of unsold Assets method.
If, however, the remaining amount of a coin is very low, this can lead to unnaturally high (but mathematically correct) values.
It's like a Break Even Price calculation. The smaller the remaining amount, the higher the cost basis.
Assuming you have only one thousandth of a coin left, you would have to sell it for an astronomically high price to reach the break even.

In this case we recommend using the Average of all Assets method.
If the values are still wrong, check if all your trades were imported into CoinTracking.
As long trades are missing, the values will not be correct.


Please move the mouse over the infoboxes (in the upper right corner of each box) on the Realized and Unrealized Gains page to get more information about the calculations and the settings.

Please note:
It is imperative that all purchases and sales are entered correctly and completely in CoinTracking.
If purchased coins are missing, this will lead to warnings and incorrect values for all gains calculations!

We don’t just convert the Fiat value into BTC, but we calculate the Bitcoin value of every single transaction.
Because of BTC price changes it is quite possible that your BTC gain is negative, but your Fiat gain positive.

Please move the mouse over the infoboxes (in the upper right corner of each box) on the Realized and Unrealized Gains page to get more information about the calculations and the settings.

When entering a new transaction, the value of the asset can be set.
If the field is skipped, CoinTracking calculates the value of the asset using historical prices.
In the event that the prices should differ, please edit the value of the asset on the 'Enter Coins' page.

You can only sell coins and currencies you own.
If the tax report detects sales without a suitable purchase, it will display a warning.
In this case, a purchase of 0 EUR will be assumed, which increases your gain and therefore also the tax.

Please make sure that all your purchased coins and currencies are correctly and completely listed in CoinTracking.
Look at the detailed calculation in the "Overview of all created Tax Reports table" to see all sales with a warning.

Please note, that deposits and withdrawals do not have a cost basis as they are considered as movements between wallets or exchanges.
That's why they will not be calculated in the tax report.
If you have bought coins, you need to add them into CoinTracking as trade instead of a deposit.

Other income and expenses such as mining, profits from gambling, gifts or margin trades are calculated automatically in the tax report if they are marked with the correct type.

- Use the type 'Mining' for mined coins
- Use 'Income' for profits from gambling
- As well as the other types like 'gift, spending, donation, or loss'.

It is also recommended to declare gains from margin trades as 'Income'.

We have created import functions for all major exchanges.
If an exchange is missing, you can try to import your trades with our Custom Exchange Import or the Excel Import.
If the data is too difficult to import, please let us know and we will try to create an import for your exchange.

• Please make sure that you have followed the instructions for downloading the export file exactly.
• Please do not open and save exported CSV files on your PC with programs like Excel, as they may change the date and the decimal format of the file.
• If it's still not working, please let us know and we will fix it.

Please note:
Not all exchanges provide access to all information.
If an API or CSV does not contain certain data, CoinTracking will not be able to import it.
Please enter the missing trade data in such a case manually on the Enter Coins page.

• First off: Please take your time with it and try it one more time exactly as written in the descriptions. Sometimes there are temporary issues or simple mistakes that can be solved by doing it once again.
• Take care that there are no spaces after or before the digits and the new API Key was copied correctly, as well as the Secret Key.
• Ensure you have set the correct permissions on the exchange website.
• Always create new API keys for CoinTracking. Never use the same key for multiple services because it causes conflicts.

Please also take a look if there are warning texts on the specific API page, if you skip them, some data could be missing.
Some APIs need a few minutes to import all transactions. Please be patient.

New trades are usually imported once per day (between 0:00-5:00 UTC), or if you click on the check now button.

Sometimes there are critical errors and failures on the exchange side (API source). In this cases there could be missing data, wrong values, no connection or other problems. We do not have any influence on the third party API data. We always contact the exchange support as soon as possible, to solve those issues.

Please note:
Not all exchanges provide access to all information.
If an API or CSV does not contain certain data, CoinTracking will not be able to import it.
Please enter the missing trade data in such a case manually on the Enter Coins page.

You can import transactions of more than 200 currencies into your CoinTracking account.
Go to the Enter Coins page and choose 'Bitcoin Wallet Import', 'Ethereum Wallet Import' or 'Altcoin Wallet Import'.
Enter your address to import all transactions.

We regularly add new currencies to the 'Altcoin Wallet Importer'. However, we can not add specific currencies on request.

Go to the Enter Coins page and choose 'Bitcoin Wallet Import', 'Ethereum Wallet Import' or 'Altcoin Wallet Import'.
Enter your address to import all transactions.
You can also track your whole wallet using your Extended Public Key xpub. (Only for BTC and only for future transactions).

We are using a Multi-Blockchain-API to import coins on the Altcoin Wallet Import page.
New coins are added on a weekly basis, but please note that we do not have any influence over the listed coins and we can not add specific coins on request into the Altcoin Wallet Import.

Please ensure your entered address is not empty.
Check your address using an online Blockchain Explorer (for example: blockchain.info for BTC or etherscan.io for ETH addresses).

Make sure you copied and entered the address correctly. No spaces, additions or missing digits.

Please note that hardware wallet devices are usually generating a new address for every transaction. In these cases we recommend using the xpub address for BTC transactions. You can find it on the Bitcoin Wallet Import page, in the second row. For Xpub addresses it is necessary to enter historical trades manually, or via a bulk import.

We are adding new coins automatically once they are listed on an exchange (usually within 1-3 days).

Please note, that ICO coins will also be added, once they are listed on an exchange.
You can find more information on how to add ICO coins in this FAQ article: How do I enter ICO Coins or not listed Assets?

In the right box on the Enter Coins page, you can delete trades individually, grouped or completely.

You can also select and delete multiple trades at once in the trade table on the Enter Coins page using the SHIFT (range select) or CTRL (single select) key on your keyboard.

To delete your entire account, go to the Settings page and click on 'Delete this account' on the right.

Recalculating your trades ensures that all charts are available for you in real time.

An example: Your first trade was one year ago and you have trades in 6 different currencies. In this case, the system has to perform over 2.6 million calculations, since all the exchange rates from the previous year have to be multiplied with your input for each currency.

This process may take a few seconds.
If you call up a page, which relies on cached values, a message is displayed. With each new trade, the process starts anew.

You can change your account currency in the Settings.
You can also change the market price (only available for USD and EUR). The choices are: Average Price, Bitstamp, BTC-E, Bitcoin.de and CampBX.

• FIAT currencies are from: bitcoinaverage.com (or Bitstamp, BTC-E, Bitcoin.de, CampBX if changed in the settings)
• Coins and Assets are from: coinmarketcap.com, worldcoinindex.com and cryptocoincharts.info
• Commodities are from: xe.com

Our prices are weighted, average prices fetched from different important exchanges.

Yes, of course.
Please contact us to discuss the details.

Yes, this is possible.
You can even link them together to switch between accounts with just one click.

More information can be found in the Settings under 'Join multiple accounts'.