Blockpit is an automated, web- and mobile-based, cryptographic tax reporting and portfolio monitoring solution. It connects its services to APIs from multiple exchanges, including Binance, Coinbase, Bitpanda, Kraken, and many more.
Blockpit aims to provide a solution for its users to be able to seamlessly connect all their trades, wallets, mining rewards and other sources of income such as airdrops in a single dashboard.
The dashboard summarizes profits that should be reported to tax authorities in a concise manner.
In addition, Blockpit users can generate tax reports that can be reviewed and approved by one of Blockpit’s legal partners.
In September 2020, Blockpit bought German competitor CryptoTax and the two tools were merged into a single brand: Blockpit.io.
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What features does Blockpit offer?
Blockpit offers a wide variety of tools to help you monitor the development of your portfolio, set individual alerts, and automatically import data into your tax reports.
You can also download your tax report directly from Blockpit or export it to other popular tax calculators for further processing. Some of the features of Blockpit are discussed in the following text:
Automatic imports
The ability to sync data across multiple channels is one of the most sought after features for online businesses. This feature allows you to automatically import transaction data into your accounting software, CRM system, ecommerce store, etc., without having to manually enter it every month. In addition to saving you valuable time, automatic imports are a great way to ensure accurate financial reporting.
Importing transactions via API and CSV files is easy. Simply download files from your exchanges, wallets, or other services, upload them to your Blockpit, and schedule regular imports to keep up with your monthly activity.
You can also set recurring imports based on dates, times, or events.
Portfolio Management
A portfolio analysis tool allows you to monitor the performance of individual assets over time, including historical data, current trends and future projections. You can track key metrics like ROI: return on investment, cash flow, and equity.
The software can help you analyze how each asset fits into your overall strategy, identify potential risks, and make smarter decisions about which ones to sell and which to keep.
Tax report
Blockpit offers a number of different reporting options depending on what you want to report. You can use the API to generate a report based on a specific set of criteria, such as tax forms, filing status, or even the type of account you’re trying to track.
For example, you can request a capital gains/loss ratio for an individual business or a complete U.S. tax return for a company or individual. It supports over 40 different report types. Here is a list of the most common offered by Blockpit:
- IRS Form 8949
- Capital gains and losses
- Additional income and income adjustments
- Form 1040 U.S. Personal Tax Return
Blockpit Prices
Blockpit offers four pricing options: free, basic, advanced, and professional.
Each option provides a different number of transactions and a different annual price.
- For example, the free option costs 0 € and provides 25 transactions.
- The Basic option costs 79€ and provides up to 1000 transactions.
- The Advanced option costs 199€ and provides up to 25 000 transactions.
- Finally, the best option, i.e. the Professional option, costs 599 € and provides an unlimited number of transactions.
Supported exchanges
Blockpit provides support for several crypto exchanges It always works hard to add more exchanges and encourages users to let users know about any exchanges they think need to be added. The exchanges supported on Blockpit, for now, are:
AscendEX, Binance, BitFinex, BitFlyer, BitMart, BitMEX, Bitpanda, Bitpanda Pro, Bitstamp, Bittrex, Bitvavo, Blockchain.com, ByBit, Celsius, Coinbase, Coinbase Pro, CoinEx, Coinfinity, Crypto.com, Deribit, FTX, Gate.io, Gemini, HitBTC, Huobi, Indodax, Kraken, Kucoin, Latoken, MEXC Global, OKX, Paymium, Phemex, Poloniex, WhiteBIT.
Supported wallets
Blockpit offers support for several popular and secure crypto wallets. As with crypto exchanges, it is always working hard to add support for multiple wallets. Those who are supported at this time are:
Bitbox, Electrum, Exodus, Ledger, Metamask, MyEtherWallet and Trezor.
Learn more about reporting taxes on other crypto assets:
- How to make DeFi fees
- How to report NFT on your tax return
- How to report your crypto staking rewards in your tax returns
Blockpit Alternatives
Blockpit is good, but when it comes to crypto fiscal tools, there are a couple that are more established. The list includes:
Koinly
With the help of Koinly online crypto tax platform, you can track all your transactions and create tax documents that comply with all applicable regulations. Koinly makes it easier to keep track of all the details of transaction recording by allowing you to combine your wallets and track activities like trading, mining, staking, lending, and airdropping.
You can use Koinly to automatically import transactions, track market prices, manage wallet transfers, determine cryptocurrency gains and losses, and produce tax reports.
The platform offers a comprehensive crypto tax reporting service and is accessible in over 20 different countries. It also interfaces with over 6,000 blockchains, 350 exchanges, and 75 wallets. The platform’s basic plan is free, however, annual subscriptions cost between $49 and $279.
Accointing
Accointing is an online platform that allows you to easily manage your taxes and bitcoin wallet; It is not your typical crypto tax preparation tool. This powerful solution serves as a one-stop-shop for all crypto administration needs for both crypto experts and enthusiasts.
Accointing’s desktop and mobile dashboards are intelligent and deliver a spectacular user experience, allowing you to track progress and transactions in real time. Accointing supports over 100 exchanges and has an easy-to-use CSV/API connection for syncing with your wallets.
Consider Accointing as a comprehensive tax report and crypto tracker. Both inexperienced and experienced cryptocurrency holders can use its user-friendly interface. Most of the platform’s features are accessible for free to everyone, however, creating tax reports requires one of the paid subscription packages.
There are 4 types of annual subscriptions. These are free, which provides 25 taxable transactions for $0, then Hobbyist, which provides 500 taxable transactions for $79. The Trader subscription type costs $199 and provides 5000 taxable transactions. Finally, there is the Pro type that provides 50 000 taxable transactions for $299.
Coinpanda
With Coinpanda, a crypto tax program, you can get help with your tax returns and get information about your holdings.
You can complete your crypto tax returns in less than 20 minutes using it. It automatically supports tax reports for trades on exchanges, wallets, DeFi, NFT, staking, mining etc.
Coinpanda offers 4 pricing plans. These are free, providing 25 taxable transactions for $0. Hodler, which provides 100 taxable transactions for $49. The Trader subscription type costs $99 and provides 1000 taxable transactions. Finally, there’s the Pro type which provides 3000+ taxable transactions for $189.
