Considering how long the internet was around before the likes of Facebook and Twitter came out, it is no surprise that the crypto industry has taken a while to get up to speed in terms of usability and advancement. Up until recently, small things such as buying crypto was quite challenging, and to this day the market lacks the broad range of detailed tools available to conventional investors.
However, a new range of platforms and offerings is making headway in the industry, aiming to make trading and investing both more accessible to new investors and offer advanced trading for experienced investors. One such tool is CoinTracking, which has considerable experience in the industry and is continually releasing new features to try to solve more problems for its users.
Trading with the big boys
As more institutional investors pour into the crypto space and crypto trading gets more headlines from the press, many crypto traders are starting to seek out optimum ways to trade.
The company states on its website: “CoinTracking analyzes your trades and generates real-time reports on profit and loss, the value of your coins, realized and unrealized gains, reports for taxes and much more. With the prices for all 5719 existing currencies, you’ll always get the complete overview.”
Specifically, CoinTracking allows for advanced charting and visualization of portfolios as well as taxation assistance to make the whole process of trading easier. It tracks thousands of coins, allowing for in-depth analysis of trading scenarios. There is also a public portfolio option giving users a “public portfolio on CoinTracking to share it with your friends. All people with whom you share the link can access a read-only version of your portfolio as long it’s activated.”
As is important with fintech, the solution has been well received. The-blockchain.com rates it thus: “CoinTracking offers investors of digital currencies a useful portfolio monitoring tool. The tool analyzes the price history of over 4,000 cryptocurrencies, your own trades, profits and losses from the trades as well as current balances. Furthermore, CoinTracking provides a time-saving and useful service that creates a tax report for the traded cryptocurrencies, assets, and tokens.”
A long time under development
Despite some of the newer features that have been released as of late for CoinTracking, the platform is actually the result of a long-term development effort on the part of the company’s founder, Dario Kachel. He saw in 2013 that there was a big gap in the market for advanced crypto analysis tools, and the feature offering of the site has grown over time. One example of this is the advanced taxation analysis feature which has gained importance in recent times given the increased regulation in the area from countries around the world.
Having been refining their solution for years, CoinTracking has been able to build a reputation in the industry. With the stakes rising in crypto as regulators move in, more investors will be looking for acceptable solutions that provide a professional standard for those who want to up their returns.