Cointracking.info aims to make cryptocurrency portfolios easier to track

January 8, 2019 Bitcoin

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Taxes

As cryptocurrency trading and investments become more widespread, users often find they need tools to track their portfolios to analyze gains or losses for tax and record-keeping purposes. This week news.Bitcoin.com spoke with Dario Kachel, the founder of Cointracking.info, a digital asset tracking service for investors and traders.

Read also: Node40 features easy to use tax compliance software for Bitcoiners

Cointracking.info: track the historical prices of over 4000 cryptocurrencies

<img class = "alignright wp-image-67895 size-medium” title=”Cointracking.info aims to make cryptocurrency portfolios easier to track ” src=”https://news.bitcoin.com/wp-content/uploads/2017/10/CT4451-300×69.jpg” alt=”Cointracking.info aims to make cryptocurrency wallets easier to track "width =" 300 "height =" 69 "srcset =" https://news.bitcoin.com/wp-content/uploads/2017/10/CT4451- 300×69.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2017/10/CT4451-768×178.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2017/ 10 / CT4451 -696×161.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2017/10/CT4451.jpg 865w "sizes =" (maximum width: 300px) 100vw, 300px”/>Cointracking.info is an online service that tracks cryptocurrency movements for profits and losses. Information such as this is useful for established traders and investors who send data to tax collectors. The company claims that it can import data from over 40 cryptocurrency bags and can track 4,000 virtual currencies so traders can view their investment performance.

The founder of Cointracking.info, Dario Kachel, started the activity because he tried to track coins and earnings using an Excel spreadsheet as a trader. Using this method, Kachel found many drawbacks in the use of the spreadsheet, and led him to create his startup focused on cryptocurrency in April 2013.

"After three months of work, I had released the first version of Cointracking.info as it was the first cryptographic portfolio tool on the market," explains Kachel at news.Bitcoin.com. "We currently have 62,000 active users from around the world, with 13,000 new registrations per month, our team consists of seven employees who work primarily on programming, support and marketing, and we work with external specialists who are programming APIs and app for iOS and Android. "

We are all active bitcoin users and also moderators in different crypto-communities.

Cointracking supports data from many exchanges including closed trading platforms such as Mt Gox, Mintpal and Cryptsy.

The monitoring of cryptocurrencies can be a nightmare for the accountant

Kachel added more details that he believes Cointracking.info is the easiest way cryptocurrency enthusiasts can manage their wallets in one place. "We store historical prices for all 4,000 coins and we can calculate all your earnings, losses, current and historical monetary values, totals and amounts, tax-free coins, tax reports for IRS and any other tax authority in the world", Kachel details. The founder also tells us that customers who use company resources include users who want to track fiat value in real time, experienced traders with arbitrage operations on numerous exchanges, users who generate thousands of exchanges a day with bot of trading and accountants.

"It would be extremely difficult and time-consuming to calculate earnings for thousands of transactions using conventional methods," explains Kachel. "Our tax report saves a lot of time and money compared to manual calculation or a tax consultant. We reduce this value to a couple of minutes or even seconds, which means a lot of time is saved for other things. that our customers face every day ".

Users of Cointracking.info can remain completely anonymous

Regarding data privacy, Kachel tells news.Bitcoin.com that Cointracking.info is not an exchange that houses coins, funds or API keys with trading or withdrawal permits. The founder further explains that the service does not require personal data and that users can remain completely anonymous using the system.

"The data we store, such as transactions or read-only API keys for exchanges, are stored encrypted and protected by firewalls and a three-step verification system," Kachel emphasizes. "As all of our data are hosted in Germany, all our security practices are in line with strict German data protection regulations."

Tax and data monitoring services have become more popular over the years as there are few other startups offering similar services for example Node40, Bitcoin Transaction Coordinator and Libra Enterprise.

What do you think of the Cointracking.info services? Let us know what you think in the comments below.

Disclaimer: Bitcoin.com does not endorse or support this product / service.
Readers must exercise due diligence before taking any action relating to the company mentioned or its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.

Images via Shutterstock and Cointracking.info.

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Cointracking.info aims to make cryptocurrency portfolios easier to track

Cointracking.info: track the historical prices of over 4000 cryptocurrencies

The monitoring of cryptocurrencies can be a nightmare for the accountant

Users of Cointracking.info can remain completely anonymous

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