Best Crypto Portfolio Tracker Apps!! (Crypto Trade & Wallet Tracking)

Summary

In this video, the presenter discusses three types of crypto portfolio tracker apps: free apps, DeFi wallet trackers, and investment/tax tracker apps. Free apps like Coin Market Cap offer basic portfolio tracking with manual inputs. DeFi wallet trackers, such as Zapper and Nansen, aggregate wallet information across different blockchains for users involved in decentralized finance. Investment and tax trackers like CoinStats and CoinTracking provide automated tracking and detailed tax reporting, ideal for more serious investors. The video compares the features and benefits of each, helping viewers find the right app for their crypto tracking needs.

Takeaways

• 😀 CoinMarketCap is a free and popular crypto portfolio tracker that allows users to manually track their portfolio by inputting asset details and purchase information.
• 😀 Wallet or DeFi trackers like Bank, Nansen, and Zarion link directly to wallet addresses, providing an overview of assets across multiple chains like Ethereum, BNB, and Avalanche.
• 😀 Wallet trackers are helpful for users of decentralized finance (DeFi), allowing them to view all their assets and transaction history from a single interface.
• 😀 Nansen is a top-tier DeFi tracker that provides in-depth analytics, showing asset holdings, transaction history, and insights into wallet behaviors across multiple chains.
• 😀 Unlike CoinMarketCap, DeFi trackers do not automatically calculate profit and loss, focusing more on asset overview and transaction tracking.
• 😀 Investment and tax tracker apps like CoinStats, CoinLedger, and CoinTracking offer more advanced features, including automated linking to exchanges for tracking trades and generating tax reports.
• 😀 CoinStats integrates with centralized exchanges like Binance, Coinbase, and others, allowing automatic tracking of buy/sell prices and the creation of tax reports.
• 😀 CoinLedger, an extension of CoinStats, offers detailed tax reporting features that help users generate accurate reports for their tax filings across multiple jurisdictions.
• 😀 CoinTracking provides advanced tracking of trades, including detailed reports on profits/losses, and supports both API integration with exchanges and CSV file imports.
• 😀 Tax tracker apps, such as CoinLedger and CoinTracking, simplify tax preparation by generating reports and integrating with major tax software like TurboTax.
• 😀 Free versions of investment trackers like CoinStats, CoinTracking, and CoinLedger allow users to track a limited number of transactions, with paid versions required for more extensive use or tax reporting.

Q & A

What are the three main categories of crypto portfolio tracker apps discussed in the video?

The three categories are free apps, DeFi wallet-style apps, and investment/tax tracker apps.

What is the main feature of free tracker apps like CoinMarketCap?

Free tracker apps like CoinMarketCap allow users to manually create portfolios, track price movements, and view performance over time, but they require manual input of transactions and don't automatically calculate profits and losses.

Which blockchain networks are supported by wallet and DeFi tracker apps?

Wallet and DeFi tracker apps support Ethereum and EVM chains like BNB Chain, Polygon, and Avalanche, primarily for users with Metamask or other similar wallets.

What is the key difference between wallet tracker apps and traditional portfolio trackers?

Wallet tracker apps link to a user's wallet address and display asset balances across various chains, while traditional portfolio trackers like CoinMarketCap require manual input of transactions and offer more detailed portfolio analysis, including profit/loss.

What advantage do investment and tax tracker apps have over free tracker apps?

Investment and tax tracker apps offer automated features such as syncing with centralized exchanges and generating tax reports. These apps provide detailed profit/loss calculations, which free apps like CoinMarketCap don't support.

How do apps like CoinStats help users with tax reporting?

Apps like CoinStats automatically sync transactions from exchanges and wallets, track exact buy and sell prices, and help generate tax reports, which are crucial for tax filing. The paid version offers more detailed tax functionalities.

Can Nansen be used for profit and loss tracking?

No, Nansen and other wallet tracker apps focus primarily on providing an overview of asset balances and transaction history, but they do not calculate profit and loss like traditional portfolio tracker apps.

What is the main advantage of using CoinLedger for tax reporting?

CoinLedger, integrated with CoinStats, is designed specifically for tax reporting. It generates tax reports based on detailed transaction data and is compatible with multiple jurisdictions and tax software.

What is the difference between CoinTracking and CoinStats?

CoinTracking offers more professional-grade features, including detailed tax reporting and transaction management tools, whereas CoinStats provides a simpler experience, with a free version focusing on tracking blockchain and exchange transactions without extensive tax reporting.

Are there any free versions available for tax tracker apps like CoinTracking?

Yes, CoinTracking offers a free version that supports up to 200 transactions per year. However, for more transactions and professional tax reporting, users will need to upgrade to a paid version.