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Your Crypto Tax Answers

Learn about crypto taxes in the US, Australia, and Germany with insights from professional crypto tax accountants while discovering the best crypto tools in the market.

CoinTracking and Cryptosheets: New Plug-in

Updated: Nov 16, 2021

We’re happy to announce a new features between CoinTracking and Cryptosheets. CoinTracking has always offered crypto beginners the opportunity to create tax reports with us for free. Furthermore, if you only initiated a handful of transactions during the year, you could always generate as many tax reports with us as you like.

CoinTracking and Cryptosheets

We recently released a new feature that lets you to take you crypto trading game to an entirely new level– the ability to use CoinTracking with Cryptosheets.

Now you can build your own custom cryptocurrency charts with CoinTracking and Cryptosheets

What is Cryptosheets?

Cryptosheets is a tool for analyzing a wide variety of cryptocurrency data including real time prices, historical OHLCV, order books, trades, performance, asset profiles, social and blockchain metrics and over 1,300+ other unique datasets. It works with Microsoft Excel and Google Sheets and has all kinds of applications, ranging from technical analysis, to creating mining models to backtesting trading strategies and more.

When used in conjunction with CoinTracking, you can use Cryptosheets to pull all your trades, account balances and capital gains into any spreadsheet. In all, there are six different CoinTracking endpoints that Cryptosheets’ API is capable of accessing.

CoinTracking is just one of over 50 different data sources you can experiment with allowing you to create your own custom data mashups, dashboards, charts and models. The plugin also works with CoinMarketCap, the mining profits calculator WhatToMine, cryptocurrency data provider, Cryptocompare, ParadigmAPI and many other cryptocurrency-related services.

Potential use cases between CoinTracking and Cryptosheets.

  1. Create your own customizable charts. Many cryptocurrency exchanges only offer basic chart features. As a result, traders that prefer to use metrics that aren’t widely used often have to rely on third party sites like Woobull Charts, TradingView, CoinMarketCap and others. These charts are accurate, but they reflect the market as a whole– not specific exchange marketplaces. If you use Cryptosheets with CoinTracking, you can pick your own pricing sources and create whatever type of chart you need.

  2. Develop your mining plan. If you use Cryptosheets with CoinTracking, you can map out all your costs and predict your potential profits in advance. Moreover, the IRS allows cryptocurrency miners to deduct the depreciation of their mining equipment from their overall profits. Other tax breaks may be available as well, all of which can be worked into your mining model at the planning stage.

  3. Design rebalancing scripts. Rebalancing helps you take advantage of sudden price spikes and protects you from being overexposed to risky crypto assets. Furthermore, you can specify whatever thresholds you want within Excel, and then use a trading ‘bot to automate your trades. The CoinTracking plug-in will let you see what you owe in taxes as you go.

  4. Make your own custom crypto indexes. Index funds– like the Nasdaq 100 or Dow Jones Industrial Average– let traders invest in a wide range of assets. With Cryptosheets, you can design your own personalized index fund from scratch– and the CoinTracking integration will let you take estimate your potential tax burden.

  5. Overlay technical analysis indicators on your Cointracking portfolio positions. Create custom screeners in seconds for oversold or overbought conditions using simple formulas like =CS.RSI() or explore dozens of other technical indicator functions

  6. Discover community trends for each asset symbol in your portfolio. Use historical social data including Twitter, Github, Reddit and many other sources to compare and analyze each of your portfolio positions and their relative growth trajectory.

  7. Analyze on-chain crypto metrics for your portfolio. Compare and analyze trends in network activity to help inform portfolio allocation, trading and rebalancing strategies.

Sign-up to CoinTracking today!

Start creating new trading strategies with CoinTracking and Cryptosheets for free

Just like CoinTracking, Cryptosheets lets beginner cryptocurrency traders use their software for free. Cryptosheets’ Free Forever level subscribers can make as many as 1,000 API requests per month. Existing Cointracking users who signup for a paid Cryptosheets subscription will receive a 20% discount by entering the code #ICAMEFROMCOINTRACKING in their Cryptosheets user profiles:

  1. This article shows how to add your Cointracking API key to Cryptosheets for Excel and Googlesheets

  2. This knowledge base article shows how to import CoinTracking data using the Cryptosheets plugin

  3. This page shows how to use custom function formulas to access your Cointracking data using the Cryptosheets plugin

Once you’ve imported your CoinTracking data into a spreadsheet, you can use various pre-made templates to come up with new ways to analyze it. These show you how to do things like re-create the CoinMarketCap front page, use various technical indicators, generate market volatility charts and more.

Check all CoinTracking’s benefits beyond Cryptosheets:

  1. Your US Tax Return ready to file: 20% discount on CoinTracking Full Service to all CoinTracking premium users

  2. Free Crypto courses by CryptoCandlz for all CoinTracking users.

  3. Learn how to trade with Sharper Trades, offering a 50% discount to CoinTracking users.

  4. Find your next crypto job with Crypto Careers (25% discount on their products).

  5. Get the best crypto research with TokenMetrics, offering a 10% discount on their plans.

  6. Get a 10% discount on all Deribit trading fees.

  7. 54% cashback on trading fees by Bithumb.

  8. Get €10 for your first €150 turnover by Switchere.

  9. 30% discount on Cryptohopper.

  10. 90-days full free access on CryptoView.

  11. In-depth analysis by Crypto Research with a 20% discount on their plans.

  12. On-chain data by IntoTheBlock with 90-days full free access for CT premium users.

Follow our crypto guides with the best tools in the industry:

  1. 2021’s NFT guide (with taxes).

  2. The best 65 Crypto Twitter accounts to follow.

  3. Crypto jobs: Here’s the 5 best platforms to find them.

  4. The best Crypto media outlets.

  5. Crypto debit cards: The best 5 providers in 2021.

  6. Find Crypto tax accountants near me.

  7. Bitcoin analysis: Here’s the best 7 tools to find it.

  8. 37 company accounts to follow on Crypto Twitter.

  9. The best tools to learn about Bitcoin and Crypto.

  10. Exchange imports: The 2021 guide by CoinTracking

CoinTracking can help you with more:

  1. Importing (API & CSV) your trades from 110+ exchanges/wallets.

  2. DeFi/DEX, Binance Chain, and Binance Smart Chain.

  3. 25+ advanced reports.

  4. Automatic Gains calculations with 12 accounting methods (FIFO, LIFO, HMRC).

  5. Complete Tax Reports compliant 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.

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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