Are you using Bitcoin Tax today, but are you looking for a better alternative? In this article, we will break down the differences between Bitcoin Tax and Coinpanda, so you can decide which crypto tax software is best for you.
Integrations
Bitcoin Tax does not support many exchanges and blockchains with API today. In fact, the total number of supported exchanges is only 32, and they don’t have direct API integration with any blockchains either. In contrast, Coinpanda supports almost all exchanges and blockchains that exist today. Coinpanda supports more than 400 exchanges and 150 wallets at the time of writing.
| Coinpanda | Bitcoin.Tax | |
|---|---|---|
| Total integrations | 900+ | 32 |
| Supported exchanges | 473 | 32 |
| Supported wallets | 158 | 0 |
| API integrations | 370 | Unknown |
| Major platforms/blockchains |  |  |
DeFi and NFTs
Since Bitcoin Tax does not have API integration with any blockchains, it does not support DeFi or NFTs either. However, it seems to support uploading the CSV file format from Zerion, so this might be a temporary workaround solution that might work for some users.
Coinpanda supports almost all DeFi transactions today including liquidity mining, staking, borrowing, and lending.
| Coinpanda | Bitcoin.Tax | |
|---|---|---|
| General DeFi | |  |
| Staking | | |
| Lending/borrowing | | |
| Add/remove liquidity | 450+ protocols | |
| NFTs | 70+ blockchains | |
When it comes to NFT support, there is a clear winner: Bitcoin Tax does not currently support NFTs for tax calculations, while Coinpanda has full NFT support for more than 70 blockchains.
Coinpanda NFT center
Portfolio tracking
Bitcoin Tax does not offer much functionality for portfolio tracking today. They seem to be focused only on supporting tax calculations, so you will not be able to track your crypto portfolio using Bitcoin Tax.
Coinpanda is both a crypto portfolio tracker and a tax solution that lets you connect your exchange accounts and wallets using either API keys or your public addresses. The Dashboard page gives you a full overview of your portfolio holdings and the latest movements in the crypto market.
If you are looking for a combined portfolio tracker and tax solution, Coinpanda is most likely your best option.
Coinpanda dashboard
Futures and margin trading
Bitcoin Tax does not support futures, derivatives, or margin trading, so the clear winner is, again, Coinpanda.
Customer support
Doing your crypto tax calculations can be both a very challenging and intimidating task, and it’s critical that you get enough support and help so that you can generate an accurate tax report.
Bitcoin Tax does not offer live chat for any of its users. However, they do offer email support to all users, including users on their free plan. Coinpanda, on the other hand, offers 100% free support, including live chat, to all users, whether they have upgraded their tax plan or not. This is something you must consider if getting the appropriate help and support is important to you.
| Coinpanda | Bitcoin.Tax | |
|---|---|---|
| Live chat | | |
| Email support | | |
| Forum support | | |
| Help Center | | |
Both platforms have an extensive help center with published help articles explaining most of the functionality, troubleshooting missing transactions, and importing transactions from different exchanges and blockchains.
Supported countries
| Coinpanda | Bitcoin.Tax | |
|---|---|---|
| Complete Tax Report (PDF) | | |
| Income and expense report | | |
| USA, IRS forms | | |
| UK, HMRC report | | |
| Australia, ATO report | | |
| Canada, CRA report | | |
| France, Formulaire 208 | | |
| Sweden, K4 blankett | | |
| Japan, total cost basis | | |
With the exception of IRS forms, Bitcoin Tax does not support other countries with tax forms or specialized tax reports. For anyone outside the US, Coinpanda is a much better option.
Free plan
The free plan offered by both Bitcoin Tax and Coinpanda lets you explore most features before deciding to upgrade to a paid tax plan. However, since Bitcoin Tax has so few features, it’s quite limited in what you can do except for importing transactions.
Because Bitcoin Tax doesn’t have any portfolio tracking features, the free plan offered by Coinpanda provides much more value.
Pricing
Both Bitcoin Tax and Coinpanda have a similar pricing plan structure. How much you need to pay depends on the total number of transactions for a specific tax year. All plans give you lifetime access to download tax reports for the year to which you have upgraded. Both platforms also have custom plans for users with a large number of transactions exceeding the lower plans seen in the table below.
Bitcoin Tax is, in fact, cheaper than Coinpanda for the same number of transactions, but this comes at the expense of significantly fewer features, integrations, and tax reports.
Conclusion
After reading this comparison guide, we hope you have gained insight into some of the most important differences between Bitcoin Tax and Coinpanda.
Although we might be slightly biased, our conclusion is that Coinpanda is the overall winner and provides more value for money than Bitcoin Tax!
