Are you looking to invest in cryptocurrencies but don’t know where to start? With the ever-growing popularity of digital currencies, it’s become increasingly difficult to keep track of transactions and secure one’s funds.
CoinLedger is a worldwide cryptocurrency wallet service developed for traders and investors who are looking for a secure, safe and efficient way to store, manage, and track their cryptocurrency investments. It is one of the most well-known and widely used wallets in the digital currency world as it offers high safety measures, especially compared to other wallets available on the market.
So if you’re looking for an easy yet secure way to store your coins, CoinLedger might just be the solution you’re after. In this review from Crypto Charity we will take a deeper look into its features, services, fees structure and user experience to help you decide if CoinLedger is right for your cryptocurrency investing needs.
Everything You Need To Know About The Features Of Coinledger
CoinLedger is a secure and efficient cryptocurrency wallet service that offers a variety of features to help traders and investors manage their digital currency investments. This review will take a closer look at the features of CoinLedger, including its safety measures, fees structure, user experience, and more.
What is CoinLedger
CoinLedger is an innovative platform that makes crypto taxes easy and cost-efficient. It allows users to import transactions from exchanges and wallets and automatically classifies them into the appropriate tax treatment. This eliminates the need for manual data entry and guesswork, making it a great choice for those who want to save time and money when filing their crypto taxes.
In addition to its automated features, CoinLedger also provides tools for tax professionals to view and edit tax reports on behalf of their clients. This makes it easier for professionals to manage multiple accounts at once, while still ensuring accuracy in their work. Furthermore, CoinLedger is constantly working on new integrations with other services, as well as providing excellent customer service. All in all, CoinLedger is an excellent choice for anyone looking to make their crypto taxes easier and more efficient.
CoinLedger overview
CoinLedger is an excellent crypto tax service that makes it easy to track and report on your crypto transactions. With competitive pricing plans ranging from $49–$299/year, CoinLedger offers integrations for Coinbase, Crypto.com, FTX, OpenSea, and 400+ more. It also supports DeFi and NFTs (OpenSea or via wallet scan) as well as tax integration with TurboTax, TaxACT, TaxSlayer, and H&R Block; blockchains supported include Bitcoin, Ethereum, Litecoin, Polygon, and Binance Smart Chain.
Crypto Charity recently used CoinLedger to track crypto transactions and generate a personalized tax report. The service was easy to use and the pricing was very competitive for 1,500 transactions. The integration with over 200 exchanges and wallets made it simple to track all of our trades in one place. The generated report was comprehensive and included Form 8949 which was great for filing taxes. Overall, Crypto Charity would highly recommend CoinLedger to anyone looking for an easy and cost-efficient way to track their crypto transactions.
How Does CoinLedger Work?
CoinLedger is a comprehensive cryptocurrency tax solution that also helps users track their capital gains and losses. It allows users to import wallets and exchange transactions, classify them automatically, and track historical prices for cost basis, proceeds, and gains. CoinLedger provides an easy-to-use platform that requires users to select relevant exchanges or wallets, enter API keys, and classify transactions. The generated reports can be imported into partnered tax software providers TurboTax or TaxAct, or sent to an accountant.
CoinLedger also provides a guide to cryptocurrency taxes in Canada. This guide helps users understand the taxation rules of cryptocurrencies in Canada and how they should report their crypto income on their taxes. With CoinLedger’s help, users can easily assess their gains and losses through numbers and chart display, download a tax report, pay for it if necessary, and submit it with confidence.
CoinLedger New Features
CoinLedger is a popular tax reporting software for cryptocurrency users that helps them make informed decisions about their investments. The platform has recently added integration with Polygon, a decentralized blockchain platform, allowing users to import their transaction history and generate tax forms to report capital gains, losses, and income. All that is needed is the public Polygon wallet address to import transactions at the click of a button.
CoinLedger offers several pricing plans depending on the user’s needs. The basic plan includes features such as portfolio tracking, capital gains/losses reports, and tax filing support. The premium plan adds more advanced features such as automated tax filing and real-time price updates. Additionally, CoinLedger provides users with new features to access educational resources such as tutorials and webinars to help them better understand the cryptocurrency market and how to manage their investments.
Can You Try CoinLedger For Free?
Yes! CoinLedger is a great tool for tracking crypto portfolios and managing capital gains and losses. It offers a free account that allows users to view their transaction history, preview tax forms, and track their portfolio. This makes it easy to stay on top of your finances without having to pay anything upfront. However, if you want to download reports or use the more advanced features, you will need to select and pay for one of CoinLedger’s four different tax service plans. The Hobbyist plan is $49/tax year, Day Trader plan is $99/tax year, High Volume plan is $199/tax year and Unlimited plan is $299/tax year. Depending on your needs, you can choose the best option for you.
Overall, CoinLedger provides an excellent way to manage your crypto investments without breaking the bank. With its free account option, users can get started right away with no upfront cost. And if they need more advanced features or reports, they can select one of the four pricing plans to get access to everything CoinLedger has to offer.
Pricing
We think that Coinledger is a great option for those looking to save money on their taxes. With competitive pricing plans, users can get the same core features and tax software integrations as more expensive platforms without breaking the bank. Prices range from $49 to $299 per tax season depending on the number of transactions, making it an affordable choice for most people. Additionally, CoinLedger offers a 14-day money-back guarantee and periodic discount codes, so you can be sure you’re getting the best deal possible.
The platform also makes it easy to determine which plan is right for you before signing up and filing. All plans include the same core features, tax software integrations, and tax report options so you know exactly what you’re getting no matter which plan you choose. With CoinLedger’s competitive pricing and comprehensive features, it’s no wonder why so many people are choosing this platform over others when it comes to filing their taxes.
CoinLedger Pricing Strategy
CoinLedger offers four pricing tiers, each with different transaction limits. The Hobbyist tier costs $49/year and allows up to 100 transactions, while the Day Trader, High Volume, and Unlimited tiers cost $99/year, $159/year, and $299/year respectively, offering 1,500, 5,000, and unlimited transactions respectively. The Unlimited tier is best suited for day or full-time traders with numerous transactions.
CoinLedger definitely provides an all-in-one solution to help users accurately report their crypto taxes. It features comprehensive tools such as automated import of transactions from exchanges and wallets as well as manual input of trades. Additionally, it offers real-time portfolio tracking capabilities and tax reports that are compliant with IRS regulations. With its user-friendly interface and competitive pricing plans, CoinLedger is a great choice for anyone looking for a reliable crypto tax reporting solution in our honest opinion.
CoinLedger Integrations
As previously stated, CoinLedger is a powerful platform that enables users to track and manage their cryptocurrency investments. It has integrations with various centralized and decentralized exchanges, wallets, and tax software. These integrations are powered by application programming interfaces (APIs) which allow CoinLedger to import transactions directly from an exchange or wallet and transfer tax forms directly to the government.
CoinLedger currently has hundreds of exchange integrations, including Binance, Uniswap and Exodus. It also integrates with 22 DeFi protocols as well as 8 wallets. This allows users to easily keep track of their crypto investments across multiple platforms in one place. With these integrations, CoinLedger makes it easy for users to stay on top of their finances while taking advantage of the benefits of cryptocurrency investing.
Tax Software
CoinLedger is making tax filing easier than ever with its integration with four of the most popular tax filing softwares; TurboTax, TaxACT, TaxSlayer, and H&R Block. This integration allows users to automatically match their data on their tax reports to the format of the tax filing software, eliminating the need for manual calculations and inputting.
In addition to this, CoinStats has partnered with CoinLedger to introduce in-app tax reporting capabilities. This will allow users to sync their portfolios and generate capital gains, losses, and income tax forms with just a few clicks. The rollout of these new features is expected to take place in 2023, making it even easier for users to stay up-to-date on their taxes. With these new features, CoinLedger is revolutionizing the way people file taxes and ensuring that everyone can do so accurately and efficiently.
Exchanges
Exchanges are an integral part of the cryptocurrency ecosystem, allowing users to buy and sell digital assets. CoinLedger is integrated with dozens of centralized crypto exchanges, including popular ones like Coinbase, Binance, Bitfinex, Gemini, Liquid, KuCoin, etc. These exchanges provide APIs to let other apps interact with them and CoinLedger connects to these APIs to import users’ transaction data and compute their tax liabilities. If a user is using an exchange that CoinLedger doesn’t integrate with, they can download their transactions in a CSV file format and upload it to CoinLedger for automatic extraction of the transaction data.
For your interest, Delta is another great tool for managing your crypto investments. It offers a free app for iOS and Android that provides detailed information on asset splits, locations, sources, and exchanges. Delta also offers a pro version of its app for $59.99 annually with additional features such as portfolio tracking across multiple devices. Download Delta to get an in-depth analysis of your crypto investments.
Wallets
CoinLedger is a great tool for managing your cryptocurrency wallets, whether you’re a novice or expert. It integrates with various DeFi wallets, such as MetaMask, Ledger, and Trezor, allowing users to easily import transaction data. To do this, users must download their wallet history in CSV format and upload it to CoinLedger. Alternatively, they can provide their public wallet address and CoinLedger will automatically fetch the data.
You may also be interested in the CoinStats wallet, which is another great option for managing crypto activity. It allows users to buy, swap, and earn yield on crypto via DeFi protocols all from one central hub. Portfolio tracking is also available directly from the CoinStats dashboard so you can keep track of your investments in real-time. With these two tools combined, you’ll have everything you need to manage your crypto wallets efficiently and securely.
NFT
Non-fungible tokens (NFTs) are a revolutionary way to own digital assets. They are cryptographic records on a blockchain that other people can’t duplicate, allowing users to securely own and trade digital items such as artwork, music, and collectibles. With CoinLedger’s API integration with OpenSea, you can easily import your NFT transactions into the platform. CoinLedger will then calculate your short & long-term gains or losses based on the difference between minting/buying and selling prices. This makes it easy for users to track their investments in NFTs and make informed decisions about when to buy or sell them.
The use of NFTs is growing rapidly, as they provide a secure way for people to own digital assets without worrying about counterfeiting or fraud. By using CoinLedger’s API integration with OpenSea, you can easily manage your NFT portfolio and track its performance over time.
How to Upload Transaction Data with a CSV File
Uploading transaction data with a CSV file is an easy and secure way to keep track of your DeFi investments. By downloading your transaction history from the DeFi exchange in a CSV file format, you can easily upload it to CoinLedger. This will allow you to summarize your transaction data and get a better understanding of how much money you’ve invested and earned.
To get started, first retrieve your public wallet address from the DeFi exchange. Then, on your CoinLedger dashboard, click Add account and select the blockchain your DeFi exchange is built on. CoinLedger supports DeFi exchanges built on Ethereum, Bitcoin, Litecoin, Polygon, or the Binance Smart Chain. Once you’ve selected the blockchain type, upload the CSV file containing your transaction data. CoinLedger will then summarize all of your transactions so that you can easily view them in one place.
How to Upload Transaction Data from a Wallet Address
Uploading transaction data from a wallet address is an important part of tracking and managing your cryptocurrency investments. With CoinLedger, it’s easy to do. First, you need to retrieve your public wallet address from the DeFi exchange you’re using. Then, on your CoinLedger dashboard, click “Add account” and select the blockchain your DeFi exchange is built on. CoinLedger supports DeFi exchanges built on Ethereum, Bitcoin, Litecoin, Polygon, or the Binance Smart Chain. Next, go to your DeFi exchange and download your transaction history in a CSV file format. Finally, upload the CSV file to CoinLedger and summarize the data to gain insights into your trading activity. This will help you better understand how much money you have invested in each asset class and how much profit or loss you have made over time. With this information at hand, you can make more informed decisions about where to invest in the future.
CoinLedger Crypto Tax Services
You will be interested to know that CoinLedger is a comprehensive crypto tax service that helps users accurately calculate their crypto tax liabilities in any country. With CoinLedger, users can easily compute their taxes using APIs, CSV files, wallet scans, or manual input. Tax reports can then be exported to popular tax filing platforms such as TurboTax, TaxACT, TaxSlayer, and H&R Block. Accountants can also be invited via email to view and download reports with a CoinLedger Tax Pro account.
CoinLedger offers free Tax Pro accounts to help users manage their crypto taxes more efficiently. Users can access the Help Center for assistance with any questions they may have about the platform, including a live chat session with CoinLedger’s support team. Support is also available via email at help@CoinLedger.io. Furthermore, CoinLedger provides tax reports to help you accurately report your crypto income and capital gains. These reports include an Audit Trail Report, IRS Form 8949, Short- and Long-Term Capital Gains Report, and more.
Portfolio Tracking
CoinLedger is also an effective portfolio tracking tool that makes it easy to keep track of your cryptocurrency investments in live time. It automatically imports data from crypto exchanges and public wallet addresses, allowing users to quickly view their holdings in real-time. CoinLedger also classifies transactions to avoid confusion come tax time, as well as compute the cost basis of crypto transactions. Manual classification may be necessary for specific deposits or withdrawals, but overall the platform is designed to make tracking your portfolio easier than ever before.
CoinLedger is one of the highest-rated cryptocurrency tax platforms on the market, allowing users to generate comprehensive tax reports and report capital gains and losses in minutes. It also has features such as real-time asset tracking, so you can always stay up-to-date with your investments. While it is possible to create a crypto portfolio tracker using Excel, it may be more time consuming than using a dedicated platform like CoinLedger which was specifically designed for this purpose.
Tax Loss Harvesting
Tax loss harvesting is a great way to reduce your capital gains from crypto trading. It works by selling investments that have unrealized losses, which can then be used to offset any capital gains. CoinLedger is a great tool for identifying these transactions and helping you take advantage of the tax savings. After selling the investments, users can re-run their tax reports in CoinLedger to see how much net gains they successfully reduced.
Tax-loss harvesting can save you thousands of dollars on your taxes each year. With CoinLedger’s help, it’s easier than ever to identify opportunities for tax-loss harvesting and maximize your savings. Check out CoinLedger’s guide to learn more about how to use this strategy effectively and make sure you’re taking full advantage of all the potential savings available.
Invite Your Tax Professional
CoinLedger is making it easier than ever to invite your tax professional and grant them access to your tax reports. With the click of a button, you can send an email invitation to your certified accountant, allowing them to review your CoinLedger tax reports. This makes it easy for you to get the help you need when filing taxes.
In addition, CoinLedger provides a directory of certified accountants that are available for hire. This makes it easy for users to find the right professional for their needs. Furthermore, CoinStats has partnered with CoinLedger to introduce in-app tax reporting capabilities in 2023. This new feature will make it easier for users to accurately report their cryptocurrency taxes by syncing their portfolios and generating capital gains, losses, and income tax forms with the click of a button. With this new feature, users can be sure that they are filing their taxes correctly and accurately.
CoinLedger Crypto Tax Reports
Furthermore, CoinLedger is a cryptocurrency tax platform that provides users with automated reports for verification, capital gains and losses, cryptocurrency income, and tax loss harvesting. The Audit Trail Report is a comprehensive report of all crypto transactions that can be used for verification purposes. Additionally, CoinLedger’s tax report and audit trail provide a detailed breakdown of capital gains from each taxable event. This includes an IRS Form 8949 which is used to report capital gains and losses from investments.
CoinLedger also offers TurboTax Direct Import which allows users to import their capital gains and losses into various platforms. Furthermore, Tax Loss Harvesting helps identify which cryptocurrencies possess the most significant tax savings potential. All these features make CoinLedger an ideal choice for those looking to manage their cryptocurrency taxes in an efficient manner. With its automated reports and audit trails, CoinLedger ensures accuracy while providing users with the necessary information they need to make informed decisions about their investments.
How Does CoinLedger Compare to Other Crypto Tax Services?
In the opinion of Crypto Charity, CoinLedger is the most comprehensive crypto tax software available, that helps users compute their crypto tax liabilities effeciently. It offers an affordable solution compared to other services, with integration with multiple tax filing platforms. CoinLedger supports APIs, CSV files, wallet scans, and manual input for computing taxes. Tax reports can be exported to popular tax filing platforms like TurboTax, TaxACT, TaxSlayer and H&R Block.
CoinLedger also provides free Tax Pro accounts to help users manage their crypto taxes. Accountants can be invited to view and download reports by creating a CoinLedger Tax Pro account. Additionally, users can access the Help Center directly from their dashboard for assistance if needed. Support is available via live chat or email (help@CoinLedger.io). All of these features make CoinLedger an ideal choice for those looking for an easy-to-use and cost-effective way to manage their crypto taxes easily.
CoinLedger vs. TokenTax
CoinLedger and TokenTax are two popular cryptocurrency tax filing platforms that offer users the ability to import transactions from multiple exchanges and generate tax reports. CoinLedger is significantly cheaper than TokenTax, with its highest plan costing 10x less. However, TokenTax offers more features for high-frequency traders who need help filing taxes, such as live consultations with tax experts and the ability to hire in-house tax experts to file full tax returns.
For everyday users, CoinLedger is a more affordable and simpler option. It allows unlimited transactions for $299 per year, while CoinTracker is more affordable but has limited functionality and requires extra fees for more transactions. Additionally, CoinLedger does not have direct integration with DeFi exchanges or three tax filing platforms like Wolters Kluwer that TokenTax does. A full TokenTax review can provide more information about which platform is best suited for your needs.
CoinLedger vs. CoinTracker
CoinLedger and CoinTracker are undoubtedly two popular cryptocurrency tax platforms that offer users the ability to track their crypto transactions and calculate their taxes. CoinLedger is a great choice for regular cryptocurrency investors, as it offers unlimited transactions for $299 per year. However, it does not have as many features as other crypto-tax platforms such as TokenTax or TaxBit, which offer more premium experiences for those with complex tax situations or who have performed lots of transactions this year.
On the other hand, CoinTracker is more affordable than CoinLedger but has limited functionality. It requires extra fees for more than 1,000 transactions and does not offer direct integration with DeFi exchanges at higher priced plans. However, it is integrated with three tax filing platforms; TurboTax, TaxACT, and Wolters Kluwer. This makes it a great choice for average users who don’t need extra features or transaction limits.
Crypto Charity Verdict on Coinledger
Coinledger comes highly recommended by Crypto Charity! CoinLedger is an excellent choice for those who transact with cryptocurrency frequently but not in large amounts. It is a cost-efficient and easy-to-use crypto tax platform that can save you time and effort in calculating taxes. CoinLedger requires payment before generating tax forms, but CoinTracker has a free tier for analyzing up to 25 transactions. It can automatically classify transactions into their appropriate tax treatment, making it easier to accurately report your taxes. Additionally, it provides tools for tax professionals to view and edit tax reports on behalf of their clients, allowing them to provide more accurate advice.
