Are you using TokenTax today but looking for a better alternative? In this article, we will compare TokenTax to Coinpanda so you can decide which crypto tax calculator is the right choice for you.
Integrations
Today, TokenTax does not support many exchanges and blockchains with APIs. In fact, the total number of integrations is less than 100, and many are not fully supported or are only supported by CSV files. TokenTax also lacks support for many of the largest and most widely used platforms and blockchains.
In contrast to this, Coinpanda supports almost all exchanges and blockchains that exist today.
| Coinpanda | TokenTax | |
|---|---|---|
| Total integrations | 900+ | Less than 100 |
| Supported exchanges | 473 | Unknown |
| Supported wallets | 158 | Unknown |
| API integrations | 370 | Unknown |
| Major platforms/blockchains |  |  |
DeFi and NFTs
From what we know today, TokenTax does not fully support DeFi transactions for tax purposes. It seems that they can only handle basic DeFi transactions and simple token swaps on DEXes on either Ethereum or BNB Smart Chain, not from any of the other DeFi ecosystems.
Coinpanda, on the other hand, supports almost all DeFi transactions today including liquidity mining, staking, borrowing, and lending.
| Coinpanda | TokenTax | |
|---|---|---|
| General DeFi | | |
| Staking | | |
| Lending/borrowing | |  |
| Add/remove liquidity | 450+ protocols | Few protocols |
| NFTs | 70+ blockchains | Few blockchains |
When it comes to NFT support, there is a clear winner: At the time of writing, TokenTax does not support NFTs for tax calculations, while Coinpanda does this for more than 70+ L1 blockchains.
TokenTax also does not have an NFT center like Coinpanda, which lets you view all NFTs and their associated cost basis.
Coinpanda NFT center
Portfolio tracking
TokenTax 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 TokenTax.
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
Futures, derivatives, and margin trading seem to be very limited and not fully supported by TokenTax. Because TokenTax lacks support for several of the most popular futures platforms, such as Bybit and MEXC, you will most likely find it difficult or not possible to import your transactions to TokenTax.
When it comes to futures and margin trading, the clear winner is Coinpanda.
Customer support
Doing your crypto tax calculations can be challenging and intimidating, and it’s critical that you get enough support and help to generate an accurate tax report. Both TokenTax and Coinpanda provide similar support features, including live chat, which is becoming increasingly important nowadays.
| Coinpanda | TokenTax | |
|---|---|---|
| Live chat | | |
| Email support | | |
| Forum support | | |
| Help Center | | |
While TokenTax offers both live chat and email support, it does not seem to have a community forum like Coinpanda.
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 | TokenTax | |
|---|---|---|
| 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 | | |
If you report taxes in the US, you are in safe hands with all required IRS forms, including Form 8949 and Schedule D, supported by both Coinpanda and TokenTax. You can also export a CSV file compatible with TurboTax and TaxAct.
However, anyone outside the US will find that TokenTax does not offer any detailed tax reports or tax forms. Coinpanda, on the other hand, lets you export detailed country-specific tax reports for all major jurisdictions such as the UK, Australia, France, Japan, and many others.
Free plan
| Coinpanda | TokenTax | |
|---|---|---|
| Portfolio tracking | | |
| Transaction details | | |
| Cost analysis | | |
| Capital gains preview | | |
| NFT center | | |
| Tax reports | 25 transactions | |
Coinpanda’s free plan lets you explore most features before deciding to upgrade to a paid tax plan. The free plans come with complete portfolio tracking, access to transaction details and cost analysis, and much more.
TokenTax, on the other hand, does not offer a free plan. In fact, you can’t even import transactions without first upgrading to one of their paid plans, so it’s quite difficult for anyone to get a good idea about whether TokenTax will work for them or not.
Pricing
TokenTax and Coinpanda have similar pricing plans. The amount you pay depends on the total number of transactions for a specific tax year. Both platforms also have custom plans for users with a large number of transactions exceeding the lower plans.
However, TokenTax’s plans are significantly more expensive than Coinpanda’s, and they also offer fewer features. Overall, based on pricing and features, Coinpanda is the clear winner over TokenTax.
Conclusion
After reading this comparison guide, we hope you have gained insight into some of the most important differences between TokenTax and Coinpanda.
Although we might be slightly biased, our conclusion is that Coinpanda is the overall winner and provides more value for money than TokenTax!
