Accointing Review | The College Investor

If you happen to’re a cryptocurrency investor seeking to maintain shut monitor of the monetary efficiency of your digital property, Accointing could also be decide. Accointing is an internet and cell platform that connects to your crypto trade accounts and wallets to trace values, efficiency, transactions, and compile tax types.

You’ll be able to monitor your crypto portfolio with Accointing year-round at no cost, however most individuals should pay for tax forms and reports. You should use Accointing at no cost for as much as 25 transactions per yr, which works just for a small sliver of the crypto group. When you’ve got 26 to 50,000 transactions, you’ll must pay for an annual tax submitting plan. One other vital limitation is that it solely works for as much as 50,000 transactions per yr, so extraordinarily energetic and institutional traders received’t have the ability to use Accointing.

When you’ve got someplace between a number of hundred and some thousand transactions, you’re within the candy spot for Accointing’s very best buyer. Right here’s a more in-depth have a look at what it’s good to find out about Accointing. If you happen to’re nonetheless trying to find the perfect crypto tax software program, take a look at our listing of the best cryptocurrency tax platforms here.

Accointing is a cryptocurrency monitoring and tax reporting platform from the corporate Glassnode. Whereas you should use it anyplace on the earth, it’s optimized for customers within the U.S., U.Okay., Australia, Germany, and Switzerland. Accointing was acquired in October 2022 by Glassnode, a cryptocurrency evaluation firm primarily based in Switzerland.

Glassnode was based in 2017 and its flagship product is a robust cryptocurrency buying and selling platform designed to assist energetic and institutional traders time the crypto markets.

As a newly acquired firm, Accointing is poised to see enhancements and optimizations within the coming years. For now, it stays a strong alternative for year-round cryptocurrency portfolio monitoring. It’s additionally a fairly good option for cryptocurrency taxes, relying on the complexity of your portfolio and the way a lot you wish to spend on crypto tax types.

Accointing is a cryptocurrency monitoring and tax reporting platform from the corporate Glassnode. Whereas you should use it anyplace on the earth, it’s optimized for customers within the U.S., U.Okay., Australia, Germany, and Switzerland. Accointing was acquired in October 2022 by Glassnode, a cryptocurrency evaluation firm primarily based in Switzerland.

Glassnode was based in 2017 and its flagship product is a robust cryptocurrency buying and selling platform designed to assist energetic and institutional traders time the crypto markets.

As a newly acquired firm, Accointing is poised to see enhancements and optimizations within the coming years. For now, it stays a strong alternative for year-round cryptocurrency portfolio monitoring. It’s additionally a fairly good option for cryptocurrency taxes, relying on the complexity of your portfolio and the way a lot you wish to spend on crypto tax types.

For 2023, see our picks for the best tax software here.

What Does Accointing Provide?

Accointing affords two predominant options

1. Cryptocurrency monitoring 
2. Cryptocurrency taxes 

It helps for greater than 400 exchanges and 20,000 cryptocurrencies. It additionally tracks the worth of NFTs.

Cryptocurrency Portfolio Monitoring

Anybody can use the cryptocurrency portfolio monitoring options at Accointing at no cost. Producing tax types could be very simple in the event you already use the app on your crypto portfolio. Keep in mind that portfolio monitoring is designed to entice you with the chance to improve to a paid tax submitting bundle yearly.

Connecting to main exchanges like Coinbase is comparatively fast and painless. Relying in your pockets or trade, the steps so as to add your accounts takes anyplace from a number of moments to some minutes. When you’ve got lots of crypto accounts, it takes a while to set all the pieces up, however that’s true of all crypto tax platforms.

Accointing works with most main cryptocurrency exchanges and wallets. If you happen to use an obscure crypto trade, you possibly can add your knowledge to a spreadsheet template and add it manually.

Contemplating it’s free, it is a nice providing and worthwhile in the event you don’t have already got a crypto monitoring software.

There’s a web-based model and cell variations for Android and iOS units.

Whether or not you prefer it or not, Uncle Sam needs to know the way a lot cash you constituted of crypto final yr to get his slice. Main tax software program like TurboTax can import tax types summarizing your crypto exercise. Nonetheless, you’ll seemingly want an exterior platform like Accointing to place these tax types collectively.

Tax studies from Accointing work for anybody with as much as 50,000 annual transactions. When you’ve got 25 or fewer, it’s free. When you’ve got too many transactions, you’ll be prompted to pay to unlock a plan that works on your cryptocurrency holdings.

The tax report you get for United States taxes is available in a nonstandard format, so that you’ll need to enter the outcomes into your chosen tax submitting program manually. That’s a giant draw back, although you get the entire info you want in a abstract that’s simple to know.

This should not be too powerful in the event you’re assured and skilled with dealing with your taxes. However these much less snug might wrestle to place the shape to make use of.

Accointing is free for cryptocurrency monitoring and taxes when you’ve gotten as much as 25 transactions per yr. Right here’s a breakdown of prices past 25 transactions:

There’s a 30-day a refund assure for paid plans, so you may get a refund in the event you enroll and also you’re not completely satisfied within the first month.

Opening an account with Accointing is fast and straightforward. You’ll must enter an electronic mail and password or join with an current on-line account from Google or Apple. No fee info is important when signing up.

After confirming your electronic mail handle, you’ll have full entry so as to add your crypto accounts and wallets to trace your portfolio worth and do your taxes.

Accointing doesn’t get entry to your pockets’s personal keys, and it is best to solely join utilizing API keys with read-only or view-only entry. Once you accomplish that, your cryptocurrency stays secure even when an information breach occurs with Accointing. 

Nonetheless, it makes use of robust safety and encryption options, so your info is mostly secure.

Keep in mind that all web sites have at the very least some small threat of hacking. 

Use a novel password on each web site, significantly monetary ones like Accointing and your crypto exchanges. Additionally, make the most of two-factor authentication as a second protection towards cybercriminals.

The first technique to contact assist is with an email-based help form. You’ll be able to electronic mail them immediately [email protected]. There’s a chatbot and self-help part accessible as properly. You’ll be able to’t get fast stay assist from a human, whether or not by chat or telephone.

One distinctive alternative for assist is obtainable, nonetheless. There’s a hyperlink to schedule a 15-minute name with a member of the Accointing employees. It’s designed to offer suggestions, however you possibly can most likely sneak in a number of questions when you’re assembly.

The free cryptocurrency portfolio monitoring characteristic from Accointing is value it in the event you’re not already monitoring your whole cryptocurrency and NFT portfolio elsewhere. The simple setup and sturdy assist for a lot of exchanges and currencies make the setup course of simpler than others.