Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 105. (Read 122948 times)

Hi, I'm a user here, but can answer your question. I see Dario answered your question, but he is a busy guy and gave you a quick answer. I'm retired, so am not as pressed for time as Dario, so I can give you a little more detailed answer, because there is a lot more to CoinTracking than manual entry, but that's always a way to go.

Hopefully, you have downloaded the free trial so you can see what I'm referring to. On the Menu Bar, there is a link called "Enter Coins", from there you can pick your poison. If you only have a few trades to put in, pick "Overview & Manual Entry". Let's assume you have a lot of transactions to put in. There is not currently a way to automatically load the trades from gatehub so it will have to be a semi-manual effort. To do the import to CoinTracking, you have to be able to download some sort of transaction file from gatehub. If you can do that, it's just a question of manipulating that file to get the data into the right places in CoinTracking. CoinTracking will try to figure out what the columns represent by the header name, but you can fix that before the import. CoinTracking even gives you a preview of what the import will look like before you tell it to proceed. if you have ever imported an address book from one application to another, the process is much the same. A good thing about Cointracking is that you can make a backup of your database before you do anything, so if you create a mess on your first attempt, you can just restore from the backup and start again.

So the best way to be sure this answer works for you is to download the free version, download a transaction file from gatehub (a csv will do fine). Then just see how easy/hard the whole process will be for you.

I hope this helps!

Steve

There is currently no gatehub import, but you can of course enter your XRP manually like all other currencies.

Best, Dario

Is there a way to import gatehub transactions? Or at least manually enter my XRP?

Hey Steve,

as you know we really appreciate your suggestion and feature requests.

I´ll put this on our todo list as well as your other ideas.
Thanks for contributing. Happy Tracking.

Greetings,
Keven

Hey @Liquid71,

thanks for your question. We understand such concerns and take special care about it.

I want to give you some points on our security activities.

- All data is stored secure and only on our own server, plus it will stay there.
- All databases are protected and completely shielded.
- User data is stored fully encrypted.
- The whole website is running on a SSL certification base.
- All data we delete, is deleted directly and forever. No data is left behind.
- You can register completely anonymous, nothing of your personal data is required.
- All user statistics are calculated without personal details.

To name just a few security features.

Hope this is going to help you.

Also @sgjenks01 thanks a lot for submitting an answer.

Best regards,
Keven

Hey @Tap Project,

thank you for the compliment.

We try our best to make our platform as useful as even possible. We are working on it every single day.

And yes, it´s probably a lot easier than the old excel files for most of the people.

Wish you happy tracking.

Best regards,
Keven

Hi @moftkhor,

thank you for asking about this.

Currently we are not able to add XRP as a wallet import, because we are working with a Multi-Blokchain-API and we mostly track data from there.
Unless you can name a Blockchain-API source we could implement, where this Coin is already added. In this case we would try to start an integration.

However, we hope the Multi-Blokchain-API is going to add this Coin soon.

For now you could use our bulk importers or the manual import.

Kind regards,
Keven

Hi @lofydf,

thanks for your question.

You are right, you have margin trades in your account before you even bought the Cryptocurrency.
Because of these circumstances you have warnings coming up. Currently there is no solution for CT to show running margin trades.

We are currently working on a method, so this becomes easier to handle and more efficient. This could probably take a few weeks to implement.
Over the next time we try to integrate more tools especially to make everything easier for traders.

Please be patient while we are working on a solution. Thank you very much.

Best regards,
Keven

Feature Request:
When setting up the automatic imports for BTC and ETH as well as the other Alt Coins, it would be very helpful if you provided a free format "Description" field. I got an email that said I got a deposit in BTC to xyz wallet. The problem is, I had no idea which BTC wallet the import was set up on or where the transaction came from. i had to do some digging to figure out it came from a miner. With a notes/description field, that could have been avoided.

Thanks,

Steve

@liquid71
You would probably rather hear this from a user than the guy trying to get you to buy it, so here goes. You can see what sort of information is being sent to them by looking at an export file, for example. They are plain text csv files with trades from the exchange you are using. They get info like: Date & Time, Symbol and Amount Sold plus symbol that you bought and amount, and any fee the exchange took out of the trade. I'm sure they can look at all this in aggregate or detail to see what you are doing, but why would they care? None of the information about wallets ever leaves your wallet or exchange. I suppose a risk might be that a government could subpoena their records to help them capture tax dodgers, but that's pretty unlikely, because all the data is "hearsay". A government probably wouldn't rely on this data and would be much more likely to go after an exchange. This is exactly what the USA did when they went after Coinbase to get their customers' records.

Steve

This looks like a really cool project, I usually avoid this type of thing because of privacy concerns, well that and coin security. What kind of personal info is shared and with whom using this service? Thanks

Looks like a great platform, would of been better than the old excels

How can I import my XRP address from my hard wallet? There is no 'XRP' ticker in the list of altcoin wallets...

I just tested cointracker and i think it's a pretty awsome piece of work when it comes to cointracking and taxes. Thank you very much, i'm really thinking about going Pro when i figured out the last little tricks

Currently i'm sturggling on how to correctly enter future trades in a manner where they correctly get processed for the tax report.

Example 1 How would i enter a okc quaterlies long trade with 10x leverage

Day 1
open long position of 100BTC leveraged 10x (using 10BTC of my balance)

Day 2
close long with P/L of lets say 2BTC


Example 2 How would i enter a okc quaterlies short trade with 10x leverage

Day 1
open short position of 100BTC leveraged 10x (using 10BTC of my balance)

Day 2
close short with P/L of lets say 2BTC

With the short i'm selling BTC that i didnt buy prior to the trade, resulting in cointracker complaining that my balance is messed up at that trade.

Dario,
I found a new "wrinkle" at the BitShares exchange. They are an exchange and have a currency BTS. It doesn't matter what currency you are exchanging for what, the fee is always charged in BTS. In essence, this means you have to buy their currency to use the exchange (pretty clever). But here's where there's an issue with CoinTracking: If I do a transaction to exchange some DASH for ETH, the fee is in BTS and it actually drops the balance for BTS. Since CT "ignores" fees, this makes my BCN balance incorrect. As a work-around, I've added an "out" transaction that deducts the fee from my BCN account.

I know accounting for Fees is a challenge because of the different ways exchanges report them (in the total and not in the total for the Sell side), so I thought I would up the challenge by throwing in a new variation. To account for fees properly, it seems like CT has to "know" which exchanges do what and treat fees accordingly. In the case where the fee is included in the Sell amount, any fee reported would just be put in the fee column. If the exchange doesn't include the fee in the Sell amount and reports it only in the fee amount (in the same or different currency), perhaps you could have CT add a "Fee Out Transaction" for that exchange. This way CT would not re-import transactions because they had been modified. Then it's a question of how CT "knows" how the exchange handles fees. This information could be maintained by you or a checkbox could be provided to the user so they could indicate whether the fee is in the total Sell or not.

I used to have to think about and code this kind of stuff for a living, which is why I feel compelled to problem-solve. If you only want me to report issues and not suggest solutions, just let me know. I'm okay either way.

Steve

Thanks a lot. I really appreciate it

Have fun with CoinTracking,
Dario

Found the site yesterday and for now, I'm pretty amazed, thank team!!!

Hey,

Yeah, seems like there are two coins/tokens with the same ticker.
BAT (Basic Attention Token) is now listed with the correct price and BAT (BatCoin) will now be listed with the ticker "BATCOIN" on CoinTracking.

Best,
Dario

Was going to mention this too. There's an old coin that also uses the BAT ticker (Batcoin), and maybe that has prevented the new one from being updated.

Either way, Basic Attention Token is already in the top 20 for market cap, so hopefully it gets added soon.

Excellent site !
My comment is regarding BAT (Basic Attention Token).
BAT values are not not updated in portfolio. Its value is 0 and
hence my portfolio shows 0 for BAT portion !