TaxBit vs Coin Tracker: Which Is Better For You? [2022]

TaxBit vs Coin Tracker

TaxBit vs Coin Tracker – if you want to buy cryptocurrencies, there are several cryptocurrency traders from which you can buy with many special features.

Following this article, you will learn about cryptocurrency service providers: TaxBit and Coin Tracker. Using them, you can buy, sell, trade and more.

We will discuss the operation, features, fees and prices, the registration process and the relevant features regarding these two crypto traders.

Simply browse the article and gather information about TaxBit and Coin Tracker.

Overview: TaxBit vs Coin Tracker

What is TaxBit?

TaxBit is a cryptocurrency-related tax software designed to unravel the mystery of cryptocurrencies. Provides IRS Form 8949 or IRS Form 1099 and also real-time information on the tax implications of crypto traders.

He acknowledges that traders cannot always track the fees for each transaction, and huge fees result in every year. TaxBit is trying to find a solution to this problem by offering traders real-time tracking of profits and can create tax-free forms for crypto traders deposited in the United States.

What is Coin Tracker?

Coin Tracker is a crypto tracking platform that simplifies your work while trading crypto. You can find important tax tracking tools at Coin Tracker.

In the dashboard, you can see information about your crypto assets, real-time pricing, deposits, withdrawals, market capitalization, performance details, and historical data. Currently, $ 20 billion in cryptocurrencies is made through Coin Tracker.

How does it work?

TaxBit

First, to work on TaxBit, you need to open an account. To open an account, follow the steps below:

– Provide them with an email, then create a password for your account.

– Once logged in to your account, simply add the required wallets and purchase the plan according to your needs by checking the features of that plan.

Your signing process is complete now start working with them and be more aware of it.

Coin tracker

– Initially, create an account with Coin Tracker or sign in with google. Then set up your wallets and exchanges.

– Then you can take care of your wallets and cryptocurrency. In addition, it allows you to calculate tax returns. Start working with them and be aware of that!

Features

  TaxBit Coin Tracker
Product type Cryptocurrency tax reports Crypto portfolio and tax form generation
Supported coins 500+ crypto exchanges 300+ crypto exchanges
Free wallet No No
Maintenance fees No No
Insurance Yes, it provides some policies of insurance. No
Support payment methods    
Security It has a better security to keep users’ information safe and achieved an SOC-2 certification. It has an SSL encryption and also has two-factor authentication requirements for tokens.
Desktop availability Yes It is available on windows and macOS
Availability of mobile app No Yes
Customer support options You can contact them at [email protected] You can contact their support team at [email protected]
Promotions None None

Fees and Pricing

TaxBit

It offers a free plan without worrying about the number of transactions you have had. But this free plan does not support historical tax forms or certain features, such as NFT Suite and Tax-Loss Harvesting. To get these features, you need to update them to their paid plans.

It has three paid plans, namely basic, plus + and pro. Basic support for the plan for platforms outside the TaxBit network and historical forms with a price of 50 USD / year, for the plus + plan you have to pay 175 USD / year and includes the feature of harvesting tax losses, Challenges and previous years and the plan pro gives you a CPA review and his fees are $ 500 / year.

Coin tracker

It allows you to make 25 transactions at no cost, and that includes tracking, cost base, and support. Then, the Hobbyist plan in which you have to pay $ 59 has the same features as the free plan but allows 100 transactions. There is also a premium plan that is available for $ 179 and includes all Hobbyist features, plus Challenge, margin and wallet summary and allows 1000 transactions.

Sign-in Process

TaxBit

In TaxBit, it’s a simple login process, you can provide them with your email and create a password and start working with them and purchase the plan you want and need to be based on your work.

Coin tracker

You can sign in with Google Accounts and Coins, if you don’t want to use any of them, you need to provide them with an email. Once you’ve provided an email, you can add exchanges and wallets to your account, and don’t forget to set up two-factor authentication.

Depending on your needs, you can add wallets whenever you want!

Protection and security

TaxBit

TaxBit has enhanced its security option with independent SOC-2 certification security, which means it has better security to keep users’ information safe. Their security team comes from a high level of experience in handling sensitive data.

Their compliance team had the most sensitive data industries, including reputable cryptocurrency exchanges and Facebook’s Calibra wallet, and secured millions of HIPAA records.

Coin Tracker

Coin Tracker is completely secure for crypto traders, as a rule of the platform, they will never ask for your private keys and it is encrypted with SSL encryption. It provides a read-only ASL integration configuration feature in your wallets.

It also requires two-factor authentication while buying crypto and payments. You can feel free because Coin Tracker will never share your data with any third party because of its security features.

Pros and cons

TaxBit

Pros:

  1. TaxBit has independent security certifications that are useful to keep your information private.
  2. Pro plan users receive CPA reviews and receive individual conversations from customer support.

Cons:

  1. Its tax loss collection feature is not included in the master plan.
  2. Its Defi support is still in beta.

Coin tracker

Pros:

  1. It has an NFT transaction tracking feature and is a great cryptocurrency.
  2. It also generates a required tax reporting document, namely IRS Form 8949.

Cons:

  1. Some minor errors were detected while working on integrations.
  2. It becomes expensive for larger transactions, depending on your volume.

Customer service

Taxbit – Has a robust system for its customers and provides live chat and email support for all of its plans, including a free plan. Their customer support email address is [email protected] If you subscribe to the pro plan, you can schedule your appointment via email and get an individual review of your CPA tax reports.

However, it does not have a customer service phone number.

Coin Tracker – you can send a request for the issue you are facing, or contact the support team manager directly at [email protected]

Final words

Both TaxBit and Coin Tracker are tax reports for cryptocurrencies that provide platforms and both provide great services to their users.

The main advantage of TaxBit is that it demonstrates over 500 crypto exchanges, while Coin Tracker supports over 300 crypto exchanges, rather than being available for mobile applications.

We hope the above article helped you find out about TaxBit vs Coin Tracker.

FAQs

  1. Which is better TaxBit or Coin Tracker?

Because they both have great features, it would be hard to find the best of these two cryptographic charge report generators. Both charge the same rates to use their advanced features.

  • Is Coin Tracker IO legitimate?

It is a very robust Crypto tracking application that has excellent features to help you perform over time to track your P / L for fees.

  • How do you use TaxBit?

You can start using TaxBit by clicking here, then create a TaxBit account and agree to the terms and conditions. Choose the plans they offer either basic, plus + or pro and pay for them and start using TaxBit.

  • Is Coin Tracker Good for Fees?

Yes, Coin Tracker is the best crypto fee software and allows beginners to use the free level. It offers the first 25 transactions without paying anything.

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