In this modern world, trading in cryptocurrency is nothing new. People are investing in crypto more and more over time. A trader faces many problems while trading. One of these problems is paying crypto tax.
Crypto is a digital currency so it is also taxed. With the growth of the crypto trade, every country implements a tax on this. The most difficult task for a crypto trader is to make a tax report. It may take several hours to make a tax report and fill out forms manually.
Keeping all records of transactions in different exchanges is necessary for a fair tax report, which may take several hours.
Generating a tax report can be more difficult if you lose all the data of your trade or trade on a large scale. A tax calculating software is the need of the hour for every trader. There are many software available that can generate a tax report in just a few minutes.
One of the best is Accointing. We prefer this software due to its unique quality features. Accointing can generate your tax report in just a few clicks without any hassle. This software automatically collects the data from all your exchanges and wallets. It generates tax reports in an easy-to-use tax reporting software that tracks your portfolio across different exchanges.
Let’s discuss Accointing software in detail.
Table of Contents
What is Accointing Software?
Accointing is a tax calculating, portfolio tracking software. This software can easily track your portfolio through API keys and CSV files, get details of your gains and losses and generate a reliable tax report with just five clicks.
If you don’t want to waste time collecting the right data, transactions, and trades on which taxes are applicable, then Accounting is the right choice.
Let’s discuss its features so you can easily understand why it is one of the best software in 2023.
Best Features – Why does Accointing stand out from the crowd?
Accointing generates the tax report according to the applied tax principles. So you don’t need to worry about its report. It has the world’s best crypto tools that work automatically without any human error.
Crypto Tax Calculator tool
Accointing has one of the best tax-calculating calculator tools in the market. It generates the tax report according to the tax principles wherever you are in the world. It works in many countries of the world.
You can easily track your portfolio whether you are trading in Bitcoin or any other cryptocurrency. The Accointing calculator tool easily tracks and analyses your income for tax reports.
It has a holding period tool that helps identify the tokens you use for a long or short period. With the help of this tool, you can minimise your tax. You can trade with the token that generates loss and minimise your taxation.
You can get your tax report in HIFO, LIFO, AND FIFO forms that are usually accepted all over the world.
Crypto Portfolio Tracker and its Features
If you look deeply at the work phenomena of this portfolio tracker you will love its features. It supports almost 400 plus wallets and exchanges. It enables all the custom tokens and NFTs (non-fungible tokens). Almost 18,000 tokens and NFTs are available.
You can enjoy its five amazing features.
- Compare your performance vs others for 24 hours
- Always get reports about profit and loss
- Track your portfolio 24/7
- Estimate deficits
- Get a report about your available balance 24/7
With the help of the tracker, you can track the best performers and make your strategy. Easily track the tokens that are valuable in the market. It automatically tracks your exchanges and wallets whether you are using a laptop or mobile phone.
With the instinctive dashboard, you can see your gains, losses, and buying and selling dates with just a click. The Accointing portfolio tracker can be downloaded from Google PlayStore or Appstore.
Accointing Mobile App
Accointing has now introduced a light-mode mobile app. It has 15 more features. You can track your portfolio and its insights at just a glance. Your net profit, loss, overall performance, and performance comparison are just one click away.
Moreover, always be aware of the most trendy cryptocurrency in the market and can connect your exchange. It supports almost 19,000 cryptocurrencies. Follow market trends with a smart watchlist or set alerts and make a notable place in the market.
Exchanges and Cryptocurrencies supported by Accointing
Accointing supports almost all the cryptocurrencies and bitcoins available in the market. It supports a wide range of digital currency almost 400+ including the following;
- Digital Surge
And much more. You can easily find any of your desired exchanges here.
How to get started on Accointing?
It is a user-friendly platform. You can easily create an account with the following steps and start tracking your trade to get a reliable tax report when needed.
1.Log in with Accointing
First of all, click on Sign up from its official website page. By clicking on the sign-up option, you have to fill in your details correctly right here:
You can also sign up with your Google or Apple mobile to get started.
2. Connect With Your Wallets
After creating an account, add your wallet to track your portfolio. To connect your wallet, press the wallet tab and click “Add wallet”.
We suggest you add your wallet with its address. This will make the process easy. All the work will be done automatically, and you don’t need to put anything manually.
3. Connect Your Exchanges
To connect your exchanges, Accointing use API keys. Go to the exchange tab and click to add exchange. Use the API key and secret key of your exchanges for its long-term benefits. If you get stuck on this step, go to the Accointing Youtube channel and watch the tutorial video.
4. Balance Verification
To get a verified tax report, check your balance shown in the software and compare it with your actual balance. Make sure all the wallets and transactions are moved to this platform. This will help in calculating your crypto tax report.
5. Review all Steps
To get an accurate tax report don’t forget to review all the steps.
Finally, you can generate a tax report. Click on “taxes” on the top menu then select the year. You can easily see your short-term gains, long-term gains, and total gains. Accointing will automatically estimate your taxable gains and generates the tax report.
Accointing generates tax reports for the United States, United Kingdom, Australia, Switzerland(EN), Schweiz, Netherlands, Deutschland, and Osterriech, According to their taxation laws. It also provides you with a general report about tax if you don’t belong to these countries.
Accounting Pricing Overview- How Much Does It Cost?
Accounting offers five plans including a free plan.
All five plans have five main features. Let’s discuss these features in detail:
- You can track your portfolio in all exchanges and wallets
- Compare your performance with other professional traders
- Take a look at the functionality of all your tokens on the chart
- Alerts for price variations
- Monitor all the market trends with the help of an analysing tool
- Share your portfolio with others
To make our tax reporting process easy, they integrated it with many tax filing software. You can manually set the pricing of your assets and the cost of NFT positions.
3. Imports all your trading data
Whether you have been trading for years, this software easily imports all your trading history in just a few minutes. It also gets details of all your deals from almost 400 exchanges.
It classifies all your transactions to get a fair tax report and get transaction history in a CSV file in just a click.
Get your tax report in required forms like HIFO, LIFO, or FIFO.
The free plan is basically for beginners who just want to try this platform. You can get tax reports for up to 25 transactions. A crypto portfolio tracker can also be used in a free plan.
The Accointing Hodler plan is $49 per year with a 30-day money-back guarantee. You can file up to 100 transactions. It has all the features of the software but is limited. This package also suits a newbie trader.
With all the above features, this plan costs $149 per year. You can file up to 1000 transactions with a 30-day money-back guarantee.
This plan costs $329 per year. In this plan, you can file up to 10, 000 transactions with a 30-day money-back guarantee.
You can file up to 50,000 transactions in a year. This plan costs $499 per year with a 30-day money-back guarantee.
If we look deeply, all plans are not too costly as compared to other tax software. So you can buy a plan according to your workload.
What are people saying about Accointing? – Customer Reviews
Accointing mostly receives positive reviews. Most of the users are satisfied with this platform. They love this platform because it is user-friendly, cheap, and has 24/7 support.
Moreover, if you are stuck on any step, there are guides and blogs available on its official website that can guide you step by step. Video tutorials are also available on its Youtube channel. Another reason to like it is that it supports almost all the cryptocurrencies used in the world.
You can also get support online or via live chat.
Positive and Negative Aspects – Pros and Cons
- It is easy to use for calculating and optimising taxes
- It is cheaper than other software
- Quickly sync all exchanges
- The mobile app has made this software easier
- Limited transactions
- Can take some time when integrations are not set up
Why do I need tax calculating software?
Every country implements taxes on crypto trade. It is a difficult task to make a tax report according to the local laws. Tax software generates a tax report in just a few minutes. This software gives the exact amount of tax in the accepted forms like HIFO, LIFO, etc.
Which languages are supported by Accointing?
Accointing supports English, German, and Spanish languages.
Is Accointing a legit and secure platform?
Accointing is safe and legit software. All of your data are imported confidentiality.
Does Accointing have an Android and IOS app?
Accointing has introduced its mobile app, so you can easily download it from Google PlayStore or App Store.
Accointing reviews indicate that it is user-friendly software. It is one of the best software for crypto traders and professionals. Whether you are a starter or a pro trader, it solves all your taxation problems.
It saves you time and money. It is a secure platform that tracks your record and guides you in profitable trade with less taxes. Generating a tax report is easy even for a new trader.