Whether you’re just starting to track cryptocurrency trades on one exchange or frequently trade a variety of coins on multiple exchanges, being able to easily track everything can help take your portfolio game to the next level.
The first thing you’ll need to do to begin tracking like a pro is to import all your cryptocurrency trades and portfolios into one place. Fortunately, CoinTracking has three ways to help you enter all your cryptocurrency trades, each one based on your personal preference or available options for each exchange.
How-To Enter Cryptocurrency Trades on CoinTracking
Once you’ve created your free CoinTracking account, there are three ways to enter your cryptocurrency trades:
Entering coins manually on the Enter Coins page.
Upload transactions as files from exchanges and hardware wallets.
Automatic API imports from exchanges and coin wallets on a Pro or Unlimited account.
Entering Cryptocurrency Trades Manually
Entering cryptocurrencies manually allows you to enter the value and relevant information for a coin purchase on your own. Just provide the number of coins, the buy currency, the price, the sell currency, the fee (if applicable) and the exact time and date of purchase.
For example, if you bought 2 BTC for $500 USD on June 1st, 2018 and paid an additional $5 USD in fees, then on the Enter Coins page, you would enter:
Buy Currency: BTC
Sell Currency: USD
Fee Currency: USD
For more information about entering the fee manually for the different transaction types view instructions from CoinTracking’s Customer Support.
Upload Cryptocurrency Trades from Exchanges via a File
Uploading trades from Exchanges is a quick and simple way to import accurate data about cryptocurrency trades you purchased on Exchanges. CoinTracking integrates with many well-known Exchanges, and the site allows you to upload transactions from those Exchanges. Here’s how you do it:
Step 1: Go to the Enter Coins page and scroll to the bottom
Step 2: In the “Upload Trades from Exchanges Section”, click the logo for the trade Exchange you purchased the coins on. A new page will open that provides additional instructions on how to upload your trades. Be aware of the possible limitations of the files as shown in the table on the right. Alternatively you can go to the drop down under Enter Coins – Exchange Imports and select your exchange.
Step 3: Follow the instructions, and the coins will be imported into your Trade Table.
When you upload transactions from Exchanges, the Exchange will be noted in the exchange tab of the transaction information. This allows you to easily search or sort for that specific Exchange in the reports and tables. In addition the exchange and its balance will be listed on the Balance by Exchange page.
Automatic API Imports
Automatic API imports are the simplest way to make sure your cryptocurrencies trades on an exchange populate into your CoinTracking Trade Table. Once you set up an API, when you purchase coins on the Exchange, the data will automatically populate in your Trade Table with the daily API check. Here’s how to set up an automatic API import:
Go to the Enter Coins page.
Scroll down to the “Automatic API Importer” section.
Select the logo of the Exchange you want to use. This will launch the API page for the Exchange. Alternatively you can go to the drop down under Enter Coins – Exchange API Imports and select your exchange
On this page, enter the required information and pay attention to the possible limitations of the API.
You’re all set. Any cryptocurrency purchases you make on that exchange will now automatically populate in your Trade Table. If one daily import is not enough for you, you can click on “Check Now” on the API import page up to once an hour in addition for extra imports.
Whichever method you choose for entering trades, CoinTracking allows you to quickly and easily view, edit, and track all your trades once you’ve entered them.
Beyond importing cryptocurrency trades, CoinTracking can help with you:
12 accounting methods (e.g., FIFO, LIFO, HMRC, ACB).
Generate compliant tax reports in your country.
If you need personalized help reviewing your transactions or preparing your US tax returns, check out our CoinTracking Full Service. CT Full Service is provided by a team of crypto tax professionals led by Sharon Yip, an expert CPA. Follow our weekly AMAs on Twitter where Sharon Yip answers your crypto tax questions.
Check the best crypto tax content in the industry:
Do you pay taxes on crypto trades?
How to report crypto in your taxes?
Earn Interest on Crypto: The Taxes Guide.
Do you pay taxes on Bitcoin debit cards purchases?
How to calculate taxes with Bitcoin dollar-cost averaging?
How Crypto tax laws save money for Bitcoin hodlers
2021’s NFT guide (with taxes).
Is Bitcoin taxable? The ultimate guide for 2021 taxes.
Tax implications of getting paid in Crypto.
Bitcoin Millionaire? An inheritance plan for wealth.. with taxes.
Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.
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