It’s no surprise that handling taxes requires a significant amount of time and effort. If you aim for your business to flourish, you’d likely prefer to allocate your time to tasks beyond tax-related activities.
Here’s where tax software comes into play! It’s akin to enlisting a skilled professional to manage your taxes – but even better. There’s no room for human errors or delays, and the cost is reasonable. Notably, it offers a range of additional functional tools.
All of these aspects will be thoroughly examined in the forthcoming Coinpanda review.
Also Read: 15 Best Crypto Tax Softwares & Calculators in 2023.
Table of Contents
About Coinpanda.
Coinpanda is the leading tax solution for cryptocurrency investors and traders. Also, file your crypto taxes with confidence. Moreover, calculate your taxes accurately in under 20 minutes. Also, it has lots of tools. They serve over 7,000 customers, and the reviews are excellent about Coinpanda.
Coinpanda Features.
A generous package of features. We’ll explain them in this Coinpanda review.
Accurate & Complete Tax Reports.
Thanks to their AI, all tax reports are generated quickly, easily, and accurately. All generated tax reports and forms are compliant with local tax laws.
Portfolio Tracking.
Furthermore, maintaining a record of your holdings and gaining comprehensive insights into all your exchanges at a glance. Additionally, you’ll acquire valuable information about your performance.
Capital Gains Report.
Consolidate all of your cryptocurrency transactions and taxable gains into a unified report, offering you a comprehensive overview. Access a thorough analysis detailing your gains, acquisition costs, and other crucial metrics for each individual cryptocurrency. This comprehensive report ensures you understand your financial activity within cryptocurrency.
Income, Staking, DeFi, and Mining.
Tax reports show all your income from mining, staking, airdrops, yield farming, and other revenue transactions.
Supported Cryptocurrencies & Exchanges.
Coinpanda integrates with over 350 exchanges, wallets, and blockchains. Besides, they support every crypto supported by the exchanges they support.
Also, they have historical data for all cryptos. And you can upload your transactions via CSV file or import from an exchange connected with an API key.
FAQ.
Is Coinpanda Easy to Use?
Coinpanda is relatively easy to use. Yes, if you’re new to Coinpanda, you’ll take your time to get used to it. But the overall experience is good.
Is Coinpanda Safe?
Yes, as they don’t require your passwords or private keys. Your exchanges are connected through APIs and wallets through public keys or addresses. And they’re both safe and secure.
Which Are The Supported Countries?
Coinpanda can calculate crypto taxes for every country that uses one of the following supported cost basis methods:
FIFO (First In, First Out), LIFO (Last In, First Out), HIFO (Highest In First Out), ACB (Average Cost Basis), Adjusted Cost Base, Share Pool
That includes USA, Canada, UK, Germany, Brazil, Peru, and more than 60 other countries.
Which Tax Reports Does Coinpanda Support?
In addition to the wide range of supported exchanges and countries, Coinpanda supports the following tax reports:
Complete Tax Report, Transaction History, Capital Gains, Complete Tax Report, Transaction History, Capital Gains
Also, there are some localized tax reports too.
IRS Form 8949 and Schedule D (USA), Skatteverket K4 (Sweden), Skatteetaten RF-1159B (Norway)
And also, Coinpanda supports tax reports for other taxes software, like:
TurboTax online file, TurboTax CD/Download file, TaxAct Export
What’s Coinpanda Pricings?
Starting at $49 up to $189 with a free plan. Also, you pay per tax year. According to how many transactions you made, choose a plan with at least that amount of transactions.
Get Started on Coinpanda.
We’ll take you through every step of getting started on Coinpanda. Also, the process is easy and straightforward. It’ll take you only a few minutes.
Create an Account.
To create an account on Coinpanda, visit Coinpanda sign-up page. Then, enter your information. And remember to use a robust and unique password. You can also continue via Coinbase or Google.
Verify Your Account.
Similar to all sign-up processes. Check your email for a verification link to complete the process.
Connect Your Exchange And Import Data.
Besides all the features in Coinpanda, Connecting your exchange and importing data is accessible. Follow the following steps to fire up.
Firstly, on the top bar, click on ‘Wallets.’
Now, click ‘Add new wallet’; choose the exchange/wallet you want to connect with.
You can use a CSV file or connect via a public address for wallets.
And for exchanges, you can also choose a CSV file or API key for auto-sync.
Generate a Tax Report.
Generating a tax report will be easy, and we’ll take you through the steps in this Coinpanda review.
Firstly, Click on ‘taxes’ on the top bar. Then choose the type of tax report you want to generate on the bottom left.
Pros.
- Wide range of supported exchanges and cryptocurrencies.
- Super user-friendly interface.
- A good amount of supported tax reports.
- Localized reports.
Cons.
- Transaction limits on plans are lower than their competitors.
Coinpanda Comparison and Alternative Options.
In our opinion, here’s a comparison of the best crypto tax calculators.
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The world’s most reliable and easy-to-use tax solution for cryptocurrencies. File your tax return in under 20 minutes.
Available in 65+ countries
- Complete Tax Report
- Transaction History
- Capital Gains
- IRS Form 8949 and Schedule D (USA)
- Skatteverket K4 (Sweden)
- Skatteetaten RF-1159B (Norway)
Connect major exchanges like Coinbase, Binance, and BitMEX with automatic API import, or upload a trade history CSV from any exchange.
- FIFO support
- LIFO support
- IRS Form 8949
- Audit Trail Report
- Cryptocurrency Mining & Income Tax Report
- International Gain / Loss Report
- TurboTax Cryptocurrency Import.
Accointing is the accounting, tracking, and tax optimization tool for Bitcoin and other cryptocurrencies. They are a team of passionate blockchain investors and believers that have come together to create the most comprehensive and simple-to-use taxes and tracking tool in the blockchain space.
- FIFO
- LIFO
- HIFO
After a mouthful Coinpanda review, we’d like to suggest a handy review of ours, Koinly Review and Alternatives.
However, we’d like to hear from you in the comments. What do you think about Coinpanda?
Please, feel free to comment in the comments section below.
I will say this review is completely wrong because I am pretty sure the one who wrote this never actually used coinpanda. If one is simply using Coinbase or Binance, and all their transaction are done in those exchanges; coinpanda would be fast and easy to use. (well but in this case who still need to use coinpanda as those exchanges provided clear report already….)
But if someone actually used metamask and have some transactions, and I am not talking about over 10,000 transactions; just a regular a few hundred transactions can easily make the system lag and the website will not respond. Also it have very limited supported tokens and have to manually input most of the data in by the users. That makes the whole situation much worse as their system calculation can easily take over 10~15 mins for even one slight changes, and we are taking about hundreds of manual changes needed.
Then I reflect to the customer support, which is like near none. And I got frustrated and requested refund, just told me they will look into it and kept pressing me to try fixing the issue. It CANT be fixed if your system is that slow, and I am the last one that wants it fail cause I paid a few hundreds for it to purchase the most expensive plan….
TL;DR : Coinpanda simply too slow and one manual update can take over 15 mins for the system to get back to work. Customer support close to none and impossible to get a refund. Don’t want anyone else to lost their money in this software therefore type it here. Can reply me for more detail and I can prove it. thanks!
Problem has been resolved and have received replies from coinpanda, things has been resolved professionally and has changed my view, please ignore above comment, thanks!