Topic: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies - page 96. (Read 122619 times)

I haven't "dealt with" BCH in my data yet, but I thought I'd take a look in case it helps...

1. Enter Coins / Overview & Manual Import
2. New
3. Transaction Type = [In] General Deposit (Transfer)
4. Deposit: Amount=1, Currency=BCH
5. Exchange=test123
6. Add transaction
7. Dashboard
8. "click here to recalculate your data"
9. Balance by Exchange

"test123 Balance" shows 1 BCH = 337.11 USD


Seems to be working.

Compared to manually putting in all my transactions in Blockfolio & Excel, I definitely consider this easy mode! 

Thanks Dario and Cointracking for taking care of minor issues so fast !!!
It takes some time to get used to it and know it's insights, but it's very powerful...and indispensable tool for a trader
Maybe you should consider an "EASY MODE" for beginners /investors ...it will definitely get you more customers in the future

Hi, new to cointracking and am enjoying it so far. Im trying to add BCH "the easy way" on the "enter coins" page but the values in USD don't seem to show up. I think Im probably missing something here.

Will you be adding automatic pricing from date and time for BCH soon?

Hey,
This is #3 on my todo list.
I guess it will be added within 1 week

Dario

@Dario3000
For mining payouts cases using "BTC Wallet Import" (and Altcoin for LTC, though i haven't tried it yet), I'd like to set the following:
- Type: Mining
- Exchange: NameForMyWallet
- Group: NameOfMiningService
- Comment:

where all 4 of the values above will be consistent (for me at least) for an API job -- i.e. one set of the above data per receiving address.

Is this something that can be provided easily?


For the time being, I'm just using the label specification and I'll try to do a bulk edit correction periodically by hand.


BTW, upgraded my account.  So you're stuck with me for a while.

@taipalag: OK great
@V.pop85: Thanks, I will add the historical ANS prices into NEO later on today.

NEO and ANS should be treated as  1 Coin, not 2 separate ones.
Thanks

@V.pop85:
Please ensure, you are using the "Average of unsold Assets as Cost Basis" setting instead of the "Average of all Assets as Cost Basis".
This will work exactly as you have described it and calculate gains only on the remaining an unsold amount, while the other setting will calculate the cost basis based on all ever purchased coin of a type.

@Barisko:
Correct, the mini-charts and the trends are based on USD.
I will think about a way to show them in EUR and other currencies, but they will look pretty much the same in EUR.

@V.pop85 & ALargeOrangeCat
NEO is already listed on CoinTracking. The coin icon will update soon as well.

@6Asmodeus6:
Sure, you can just play with the demo account.

Best,
Dario

It shows up in Cointracking , but as a new coin , and I just sold some ANS after reranding and i am seeing a negative balance on NEO.
Does my post make sense to you ? Do you get the same problems as i do?

It realy is an amazing service.Just today i saw in a topic,people were discussing what to use for calculating profit and now I saw this topic.I don't know if it will be too burden now but is it possible to add coin and prices for ourself just to test the system.

+1 on the request to update the ANS to NEO rebrand. This coin is skyrocketing right now.

Hi Dario,
I hold an Unlimited Licence and I have some issues..
ALargeOrangeCat has a point ,I am running in the same issue...and i am mostly using the Relaized / Unrealized Gains TAB
When we (the users)  liquidate position and then start a new one , the software doesn't show correct info. It should know that we started over and not take into account the previous price to calculate an average . It is important to know the correct average price in case we want to short sell a coin for a buy-back at a lower price.

I use your service to keep track of more than 25 coins where I update (buy and sell) positions very often .
Other example I can give you:
I buyed STRAT at an average price of .0030 BTC and kept it  and after some time STRAT was .0020 BTC and buyed X ammount and after a few days , it went to .0024 and I sold the X amount taking profit ... Now I see REALIZED LOSS of 2 BTC on STRAT and the Gain from the X amount was 1 BTC.
1 more example:
I made 30 BTC profit on ETH and it was displayed as Realized Gain , then buyed some more and got stuck with it at 0.11...yesterday I made a quick trade and buyed and sold ETH for some profit ,now the balance shows lower Realized Gain and lower average purchase price, but the old ETH position stayed intact .

You should do something with the Algorithm to "recognize" these trades .
I always trade and import using Exchanger's API and refresh the (UN)Realized Gains page every 5-10 minutes so i can see how I am standing and when to take profit .
Also, ANS rebranded to NEO and it doesn't get updated anymore....You should Merge ANS with NEO

Thanks ,
Victor

Hi,

In Account Settings, I've set my main currency to EUR, but when looking at the Current Balance page, I notice that the trends (Trend 24h, Trend 7d, Trend 30d and 30 days trend in USD (Graph)) still use USD as a the reference currency. It would be useful if the trends also take the main currency as a reference.


PS. I'm new here and to CoinTracking, must say: very impressed! 

Thanks for the clarification Dario, that's exactly what I was looking for!

CoinTracking is fantastic, I'm really impressed with this. I can't believe I've used Blockfolio for so long 

Hey taipalag,

I can recommend these 2 methods to enter your BCH:

1) The easy way:
Add your BCH as "gift" with a cost basis of 274.59 USD per coin (the initial price on August 1st).
 
2) The correct way:
To make it 100% tax compliant, you would have to search for every single BTC transaction you made (before August 1st) and create an additional BCH transaction at the same date/time and with the same amount (just with a 0 USD cost basis).
At the end (on August 1st) you will have the same amount of BCH as your BTC amount in your CoinTracking account.
 
But if you have hundreds of BTC transactions this method can be quite time wasting.
If you plan to keep your BCH for more than 1 year, you can ignore this method and go with the first one, as your BCH will be tax free anyway.

I hope that helps.


@ALargeOrangeCat:
The calculation you're looking for is on the "Realized and unrealized gains" page.
It will work exactly as described in your post.

The Average purchase price will sum all your coins and calculate one average price.
This can be a nice info but is not a gains calculation.

Best regards,
Dario

Hi,

I recently purchased Cointracking and have everything imported - great job on the software.

However I have run into an issue. The way that Cointracking calculates average purchase value doesn't make sense to me, I'm hoping you can explain.

Say I have a run of buys & sells with a particular coin. Then at some point I sell all my coins & take profit. After I've done this I'm effectively at zero value with this coin.

If I then buy a quantity of that coin at a new value, the new price divided by the new quantity is my new average purchase price, and the buy/sell average of the past should not be relevant.

The way your averaging system works is all of these earlier transactions continue to factor into my purchase price even after I've zero'd my balance with a coin. So if I'm at zero coins & buy 1,000 coins at $1,000, I get an average purchase price of more or less than $1. This creates incorrect profit & loss values in the chart.

Am I missing something?

Thanks,

@afterfiat:

Thanks a lot
I will contact the Hashnest support. Maybe they can create a better export.

In the first week after the registration, there is no trade limit.
You can add as many trades as you like.
There is currently no other trial.

But basically the functions of an account with 200 trades are pretty much the same with an account with 200,000 trades.
So if you like what you see with 200 trades, you will probably like it as well with 200k trades.
And if you don't like what you see with 200 trades, adding 200k additional trades will probably not make it better

Don't worry about the performance

You can switch from PRO to UNLIMITED with a discount.
There is no discount from 1 year to lifetime.
But I always try to find a good solution. So just send us a mail and I will figure out something for you (at least if your 1 year package is not 1 week before expiration)

Have a nice weekend,
Dario

@Dario3000

1. Thanks for the follow-up.  I was already underway trying to extract the data from Hashnest to local files so that I can then reformat for attempted import into CoinTracking, but I was hopeful you guys might want to directly integrate Hashnest support.  Even so, I'll keep you posted on my progress (if you're interested).

2. Kudos for this (from your pro.php page) policy...


I wish more software / service providers had such an approach.

3. Suggestion: The "max. 200 trades" of the free account is very limiting.  For example, with my Hashnest data I can't really evaluate the usefulness of CoinTracking with such a small limit.  Please consider offering a "TRIAL" that is "FREE 200 forever, unlimited for a limited time".  The limited time might be a week or a day.  More specifically, I'm curious how the performance will be but buying an Unlimited just to find that out is a bit spendy.

4. Question: After buying the Unlimited One Year plan (0.09 BTC), is the upgrade to Unlimited Lifetime at full price (0.53 BTC) or is it discounted (0.44 BTC)?

@afterfiat:
I've never used Hashnest/Bitmain, but 1.3 million entries is a lot

If it's possible to download the full history as Excel list (at least sometimes ), I would recommend to sum all values by day.
This should be much easier.
Once you have the data ready in Excel, it should be easy to import them using the Custom Exchange Import.

If you need help with the Custom Exchange Import, let me know via a ticket, and I will try to set the import up for you.


@Pietpiraat:
No currently not.
Is there an export feature in the client to download the history?
This way it should be possible to import it into CoinTracking.

Best,
Dario