Group/consolidate mining, staking and interest transactions
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Eivind
Mining/staking transactions from services such as NiceHash, Coinbase, FTX (US), Kraken, etc. result in a lot of small transactions. In the case of services that add these transactions multiple times a day this results in transactions quickly racking up.
For example, FTX (US) credits interest every hour. For a year worth of interest transactions, that results in 365 (days in a year) * 24 (hours in a day) = 8760 transactions per year.
These push users over the transaction limit of their initial plan. We should group/consolidate these.
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Sam - CoinTracker
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We have implemented staking transaction support within our tax plans.
Free - $25 free staking
- $25 of staking reward transactions don't count toward your transactions limit
Hobbyist - $100 free staking
- $100 of staking reward transactions don't count toward your transactions limit
Premium - $1000 free staking
- $1000 of staking reward transactions don't count toward your transactions limit
Unlimited - Unlimited free staking
- Unlimited staking reward transactions don't count toward your transactions limit
We appreciate your feedback!
Eivind
Merged in a post:
FTX interest - hourly payments create a lot of transactions
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When you lend through the FTX exchange (margin lending), or FTX Earn, the interest is paid hourly per asset. This quickly adds transactions to the CoinTracker account which impacts the tax plan required and makes navigating the transactions pages more difficult.
Ideally these payments would be grouped up or tracked another way to prevent this.
Eivind
Merged in a post:
Consolidated Stake Transactions
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This largely to address a possible issue where an enthusiast (like myself) holds multiple cryptos capable of staking. The transactions (possibly hundreds) could be consolidated at the end of the tax year as one lump sum transaction. Currently, I anticipate at least 900 stake transactions which would cost $179 which would be half my portfolio.
Eivind
Merged in a post:
Consolidate Interest Transactions
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We should be able to consolidate all of our small interest/staking/income transactions for the tax year before generating our tax report. These transactions also shouldn't count against the service pay tier. It's silly to have to pay for a premium Cointracker.io subscription just because I have 1,000+ tiny interest receiving transactions that only total to a few USD worth of income. At the very least you could provide a tutorial on how to create our own consolidated CSV and import that instead of the individual transactions generated by the various services like Nexo.