So you’ve commenced buying and selling some Bitcoin, then bought some Ether, and perhaps even ventured further to buy some Dash and Litecoin. After some time, observing that you’re profiting massively, you determine to sell some of your tokens. Some time zometeen, you determine to buy a fresh token that you believe will revolutionise the world.
The problem is, of course, keeping track of all thesis purchases and sales. You want to keep track of whether you’re actually turning a profit or not, plus you need to present your results to the taxman come end of year.
So what are your options? Remarkably few, I discovered.
Here are the three best online cryptocurrency portfolio trackers:
Cointracker is the newest portfolio tracker on the market, and I think it’s the most promising one. They have automatic invoer from exchanges built-in, and the interface is very clean. Their support is fantastic, and best of all, everything is free. This is the system I would have built if I had to build a tracker myself.
I hope they proceed developing it and including more advanced features spil it would truly be the undisputed leader once thesis features are implemented. What I’d like to see is better computation of the portfolio when including withdrawals to offline wallets like the Ledger Nano S.
Cryptocompare has a clean interface, and while it doesn’t have any exchange integrations (meaning you have to inject all trades by hand), it does give you a very clear idea of how your portfolio is performing. You can also add more than one portfolio.
The big kwestie and deal-breaker is when you need to sell some crypto. There is no way to just come in the crypto you sold and select which cost ondergrond to use.
Let’s sidetrack for a minute and talk about cost fundament. Since Bitcoin is taxed spil individual property, like shares of stock, investors theoretically have the option to sell their assets on a first-in-first-out (FIFO) ondergrond, a last-in-first-out (LIFO) poot, or to sell those specific tax lots that are most efficient under the “specific share identification” method used for stocks.
Going back to Cryptocompare, imagine you made 60 purchases of varying amounts of Bitcoin, but always less than 1 Bitcoin. At a future point te time, you determine to dispose of 30 Bitcoin at one go. You would imagine that you would be able to open up your portfolio and inject the sale of 30 Bitcoin spil a single transaction and have the tracker calculate your gains or losses based on all the other smaller previous purchases. But alas, this is not the case. The Cryptocompare portfolio expects you to select the original purchase transactions, and for each of those transactions record a corresponding sale. This gets very messy, very quickly. I wasgoed very disappointed by this situation, spil I had spent a significant amount of time injecting all the purchase trades by hand, only to be stopped te my tracks by this punt when I made a sale.
I am still hoping that the Cryptocompare guys fix this punt by permitting us to select which cost voet to use, then come in sales trades separately from the original purchases. Until this is motionless, I wouldn’t recommend using Cryptocompare to track your portfolio, unless you are exclusively buying cryptos and not selling.
A very cool fresh tracker that is well worth a look. API integration permits you to monitor your balance across numerous exchanges te one place, ter real-time. You can automatically synchronize if you deposit, withdraw, or trade on an exchange.
This is a social toneelpodium mixed with a portfolio tracker. I don’t indeed care about the social elements, but the interface is very nice. It’s a very fresh contraption that is presently free but will have a price fastened te the near future. The largest kwestie I have with it is that it doesn’t do automatic imports from Kritiseren, only Bittrex and Poloniex.
This is the oldest and most accomplish portfolio tracker. It has a bunch of features and is also available ter several languages. Unluckily, it also looks very old and is nowhere spil slick spil the other two options above. Its invoer facilities are unparalleled, however, so if you can forgive the ugly interface, it’s a usable option.
Have you used any other portfolio solutions to track your cryptocurrency? Let mij know if you have found something ideal.
Cryptocurrency Portfolio Trackers on iOS and Android
Delta and Blockfolio are presently the best cryptocurrency portfolio trackers for smartphones. Delta seems particularly promising, and they should be releasing a desktop app straks this year.