Using Cointracking.info for Tracking Binance Trades
Over the next few minutes, I'm going to show you why I use cointracking.info. This site has been the tool I've relied on to quickly review my portfolio and take profits when needed. It is also incredibly easy to set-up and supports most exchanges.
First thing you will obviously want to do is to sign up for an account on cointracking.info, an account on an exchange such as Binance or Bittrex (https://bittrex.com/home/markets) and make a few trades. In this example we will be using Binance and you'll want head to your trade history
Once you've gotten to the trade history section of Binance you should see the export complete trade history on the right side of your screen. Click on that and an excel spreadsheet file should show up on your screen (lower left-hand corner if you are using Chrome) with a name of something like TradeHistory.xlsx or TradeHistory (x).xlsx.
Then head back to the cointracking.info site and look for the enter coin tab and exchange import section. Here Binance should be the first exchange-listed.
1st step is to select choose file and locate the spreadsheet that you just downloaded from Binance. Once the file uploads on the website then you'll be able to complete step 2 and select continue to import.
The next page that pops up should let you know that the import has been completed and you'll be able to navigate and track your trades on the website from here on out and won't have to go through and update anything again until you make more trades. If you see the error pop up below just click recalculate trades and everything should be up to date.
I've really enjoyed using this site for almost a year now. I think I'll be using the information provided on this site to do a once a month or week account update on my crypto trades and use the money I use from these posts to upgrade my account to the pro or unlimited version as well so I can get access to their Tax-Report and do a review of that as well. I've seen several crypto tax exports recommend this site for taxes as well. If you're interested in signing up for this site after reading this please use my affiliate link to support me and these posts.
Just for ease of tax information that looks like it be great for high trade solo induvial. So much tax and accounting starting to show up in cryptocurrency. While many hate that kind of thing its honestly needed even more so for it to go more main stream. Makes me wonder how much tax agencies will start to invest or spend for data.
There is a girl named cryptotaxgirl on twitter and I've seen her recommend it multiple times. Assuming she just uses the data from the site to help people fill out their taxes.
Seems like she's in a great niche and imagine she killed it this past tax season as she's one of the few accountants I know that seems to have a good and conservative approach to paying taxes on gains in crypto.
In a month or so I'm going to ask about Steemit earnings, but figure she's probably still swamped helping people who filed extensions wrap up their taxes.
I can only imagine the consulting fees she could be charging if she gets involved with large companies. I hated my tax college credits so much back in the day otherwise that should be a very nice goldmine right now. My brain, endless stupid loopholes and regulations-- nope!
Thank you for your continued support of SteemSilverGold
I really respect this breakdown of cryptocurrencies, I have done a similar breakdown but from a slightly more humour based point of view, please feel free to read it, and laugh :-)
https://steemit.com/funny/@georgemason/the-number-1-reason-you-aren-t-getting-rich-from-bitcoin
Upvoted :-)
Don’t do that. You did not even read this blog. You self-voted your own comment and you spam your link. -5 out of 10,000 time traveling cats for you. Please travel to the year 2351 and pay the fine of $5 billion.