I think the pricing structure needs to be reworked

With the current pricing structure, anyone that’s staking is forced to move up into higher pricing tier’s due to the number of transactions from staking.

It really screws people over like me that don’t own a ton in crypto, yet have a lot of transactions simply due to staking. I would have less than 40 transactions if I wasn’t staking. But due to multiple cryptos that I’m staking, it pushes the number to over 200 transactions.

So I end up paying more to use cointracker than I earned from crypto. This pricing structure completely wipes out any gains I make.

My suggestion is to exclude staking reward transactions from the transaction count when determining which pricing tier you’re in.

Alternatively, the pricing could be based on total assets being tracked on cointracker. I think this would make the pricing be much more directly related to the amount people can justify paying to use cointracker.

It’s just really not economical from the consumer standpoint with the way it is now.

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I agree. Needs to be cheaper. Especially when people want to be able to DCA on multiple cryptos on a regular basis, transaction numbers can blow out. 10 cryptos x 1 transaction a week x 52 weeks = over 500 transactions.

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I agree the staking and rewards makes things difficult. I get about a dollar a year from it, but it potentially bumps me two plans cuz coinbase does multiple a day.

But, I think there are ways to work around it using the ignore feature, and downloading the csv to figure out an average cost basis, and then re-add as a single/daily/weekly/monthly/whatever entry. Just make sure you do it in a way that keeps tax man happy.

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What you suggest is an ok idea, but then you will have the same issue when you dispose of your crypto.

I can’t even get cointracker to calculate my staking / airdrop / interest at all.

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Nah should work I think… so long as u enter the correct amount on the manual entry… full sum of rewards (share count) I mean. With average cost basis … it’ll be tracking the right # of shares … and on sales just calculate against what should be the right# and a darn close $… which since your paying nothing for it… close enough is fine… you pay tax on it all…

…right? I hope lol

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You’ll need to seek your own taxation advise that’s relevant to the country you live in.

If you get $100 in staking rewards for say Neo GAS, you would need to pay income tax on the $100 when you acquire it. If it goes up to $200, and you sell, you’ll need to pay the tax on the difference (200-100=100).

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Yep. :wink: sounds good :+1:

YES! I was so pissed last night to realize that a sudden syncing that must have started working in the past couple of weeks with Binance’s Flexible Savings has suddenly bumped me into the new tier! And I had ALREADY bought a tax plan based on my final year-end “actual” transactions, which were below the limit for Hobbyist. So I’m supposed to pay an extra $200 for that? Doesn’t work out. These individual transactions are mostly less than USD$0.01!

I think both anything categorized as “Interest” or “Staking Rewards” needs to be excluded from that total. It really makes me want to look for another crypto tax solution. :roll_eyes:

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Yes absolutely agree. Don’t forget the crypto debit cards also. I understand if you sell crypto to put funds on the card counting those, but also all the small cash back rewards. Those alone can put someone into the max tier or higher after trades. Maybe an unlimited or lifetime plan like some services have.

I have noticed this as well. I would be interested in a “roll together” option. For Staking if you get daily rewards from coinbase your “30 transaction for the month” would get rolled into 1 transaction monthly. This way each coin being staked would count as 1 transaction for month. Thanks for the suggestion.
Have a good day every one.

Yes, I agree. I hold most of my coins based on investment capability where the coins generate daily gains. I currently hold 19 different coins, but according to the pricing structure I need only hold three coins which generate daily gains to exeed the “Pro” level pricing teir which is pretty costly in itself. I can’t imagine having to pay for a custom teir. While I have many coins, I have small investments in each and the cost of cointracker renders those investments pointless.

Yep, I just unstaked some CAKE (counted as 4 transactions) from pancakeswap and then staked it in another pool (another 4 transactions)… so what I’d count as 2 customer transactions = 8. Cointracker, please reevaluate the pricing structure, especially as DeFi becomes even more popular.

I agree with this as well. Definitely a problem driving us small to mid-tier crypto investors up into the highest Cointracker tiers just because of the transaction limits.

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Agreed. Pricing needs a big change. Once a competitor steps up, and they could do half the work by copying what CT has already done, they could be profitable at a much lower rate. Much of CT’s customer base will NEED to shift over - like me, I’m a CPA and I can’t responsibly recommend $100 a month plus the tax package price for any of my clients let alone myself.

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Well said.

It’s been a month since I started this thread and the feedback from the comments is clear that CT needs to work on this…Yet not even a single response from anyone at CT.

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Couldn’t agree more. I occasionally run NiceHash and with their change from waiting until you had accumulated .001 BTC to multiple tiny deposits per day, it pushes my “transaction” count to a point where I would have to pay $200/year to use CoinTracker for my taxes. I don’t mine full-time and when I do I’m mining on the order of $1.50 a day. So it’s a no-brainer that I can’t use CoinTracker’s paid services. The irony: I’d be happy to pay a small fee because the site works fairly well and it could make my life more convenient, but as-is I’ll just sit here with my free account and manually transcribe my small number of actual TRADES into TurboTax and actually feel a little bit guilty that I didn’t have to pay anything to Cointracker. (Of course then when I see threads like this one and many others complaining about zero response from Cointracker on these forums I feel less guilty, and more certain that I should just keep an eye out for their next competitor that’s serious about winning :wink: )

completely agree as well – it would be nice if someone from CoinTracker would chime in on the matter.

Anyone?