Is CoinTracker a scam?

I’m cancelling my plan as I believe this platform is a scam. No product support, no technical support, can’t get any support. There are bugs which the community has submitted on a constant basis, yet, CoinTracker has done nothing to support. I wish everyone the best of luck and I’m in communication with my State Attorney General to see if they can assist with a refund for this disservice.

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I’m having the same concerns with CoinTracker. It takes me too much time to correct transactions and support from the team. When you move to another tax service like Koinly, are there any issues with transferring all the transactions – including manual entries? I have over a thousand transactions per year.

Weeks later and I still am not receiving replies to my tickets. On top of that, I’m encountering SERIOUS bugs (like zero cost basis) that are going to completely mess up my 2021 taxes. CoinTracker team, what are you doing!?

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Same problem here. They are renaming my UMA to LUMA a crypto that does not exist at GEMINI. Multiple tickets over the last month has not gotten it corrected. 2021 tax records will not be correct.

This is a good idea. I’ve sent about 2 emails over the past 2 months and got no replies except for the automated reply. I’ve been using cointracker since 2017… but sad that when you need support, it’s not being provided (not just my experience but from what I’ve been reading on this forum / review sites / what people say about cointracker on discussion boards - the main reason it’s not recommended is the support - it’s non existent).

but this is a good idea. Stop / pause taking on new clients so you’re not inundated with support tickets, upsetting older customers who are not being looked after. I’m reluctant to move because of all the tedious adjustments I’ve made in cointracker but if push comes to shove, I might have to bite the bullet of trying another provider (I would rather stay with cointracker to be honest).

Fingers crossed they’re doing something about support

Yes, It’s a scam. I signed up for Top tier support at the highest paid level, and never get a single reply to my support requests. Importing function for wallets doesn’t even work. Meanwhile, they just keep charging my credit card. I am at the point that I will have to sue them to receive all of the monthly charges back and sue them for:

1.) False advertising
2.) Breach of contract
3.) Assumption of liability for all IRS penalties and fines.

If you think the other services don’t have issues then you’re going to have a bad time. I’ve tried Koinly, CryptoTax, Coinpanda, and I don’t recall the others – but I can say every single one had issues.

Missing support for LPs, missing Avax/SOL, missing support for top any number of top 100 coins, incorrectly tagging transactions, CSV import lacking, etc, etc, and the list is long.

Very likely that if you have even a slightly complex set of transactions you’ll have issues and the only path to 100% accurate reporting is to perform a lot of manual adjustments along with any number of CSV imports.

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Concur. I went looking but all in all, CTracker was the lesser of all evils. Also many many manual edits to keep the sanity yet some things are on CT’s end which is an unfortunate evil. Time heals all wounds aye haha. Looking at you Chandan :loop:

While I remember, be good if there was a backup option for portfolios. We can dl our portfolio csv but I know of no way to reinstate that csv if ever needed.

I may have a workaround for the $0 cost basis bug. See my response here Cost basis still zero

+1 vote of confidence back in Cointracker.

Its all i ever used but i just successfully filed and footed all my CT transactions to 4 different exchanges via csv statements from each of the exchanges.

Was certainly frustrated for a bit there but CT came thru last week with my accurate cost basis, condensed 8949, and Sch D. Aligns with HIFO summary from throughout the year and exchange csv’s

I’m satisfied. Tracked 200k+++ transactions HIFO.

Far as I know there is no other service that will do this many, let alone provide a condensed 8949 loadable to Turbo Tax.

For the record i have a CPA file and dont use the TurboTax imoort but either way i got the docs i needed to file.

Also like that i was able to tax plan throughout the year knowing full well the trading gains both short and long term. I had my tax burden figured down to within 2% of the final figure i owed on Jan 2nd. Sold what was needed to square up then and looks like it was the right de-risked move. Thinking is in order to not play with what you owe the man, you have to know what you owe the man at all times. Thats why need CT to be spot on.

Simply had to wait till mid March to get tax docs rolling accurately :wink: But the summary shook out as accurate and thats what i used throughout the year to plan! :pray:

-1 vote for confidence as after 5 months they still do not show the UMA I bought at GEMINI which did exist at cointracker till they arbitrarily changed it and all prior UMA transactions to LUMA TOKEN which does not exist at GEMINI and can not be changed back. You are taking a huge risk now using cointracker if they can do this and not respond to fixing it.

GEMINI UMA is no longer an editable item as it no longer exist according to cointracker. Cointracker deleted my crypto and added a purchase I did not make.

Just to clarify, cointracker took a crypto I owned and showed up on cointracker for some time, deleted it and made up a coin name and applied it to all of my transaction on my prior valid coin. Imagine, cointracker takes say all of your BITCOIN changes it to a crypto called say ROACH and changes ALL transaction you have ever done to crypto ROACH that’s buys/sells, etc so there is no existing record on their site of you ever owning any BITCOIN. As a matter of fact the site were you bought the BITCOIN according to cointrackers software does not even offer BITCOIN for sale. This is what they have done to me and in five months have done nothing to correct it. Anyone can verify GEMINI TRADES UMA AND DOES NOT TRADE ANYTHING CALLED LUMA TOKEN. Our past tax records at cointracker that we downloaded does show our UMA transactions. The current tax records on their site do not.

This is what GEMINI SAYS I OWN IN UMA:

SELL

Available to trade:

USD: $0.17 USD

Add funds

UMA: 48.455716 UMA

THIS IS WHAT COINTRACKER SAYS I OWN:

|LUMA Token

LUMA||48.455716 LUMA|

Which one is right? Cointracker for tax reporting or THE GEMINI TRADING EXCHANGE? And COINTRACKER arbitrarily changed it from correct to WRONG!

Seems like the IRS would be interested in knowing why a crypto trade record keeping for tax purposes outfit would want to replace legitimate crypto transactions with fictional non existent ones for tax reporting. Further when discovered by the customer, is unwilling or unresponsive in correcting it.

I think Cointracker is trying… they actually responded to my support request within a day or two which is quite refreshing after the year or so of non existent support.

Also I noticed the re-computation of cost basis is happening much faster.

So thank you for these improvements Cointracker, but please refrain from taking away crucial features we pay for such as downloading a .txf file for turbo tax.

if you are reading this PLEASE FIX THAT, it’s not cool. We pay for that feature and we need it back ASAP.