Honest Comparison
CoinTracker vs UpdraftFi
CoinTracker helps you file taxes. UpdraftFi is a crypto net worth tracker that shows you everything you own.
| Feature | UpdraftFi | CoinTracker |
|---|---|---|
| Primary focus | Net worth tracking | Tax reporting |
| Best for | Complete financial picture | Tax season prep |
| Pricing | Free / $19 / $49 per month | $29-$3,499/year |
| Free tier | Local storage, unlimited history | Unlimited tracking, no tax downloads |
| DeFi tracking | Yes | Yes |
| Traditional assets | Yes | No |
| DeFi yield / APY tracking | Yes | No |
| In-app token swaps | Yes | No |
| Balance encryption | Zero-knowledge | Standard |
| Tax reports | Coming soon | Yes |
| Mobile app | Mobile-responsive web app | iOS + Android |
Looking for a CoinTracker alternative? Here's how the two tools compare on features, privacy, and pricing.
What CoinTracker does well
CoinTracker is primarily a tax tool with basic portfolio tracking on the side. If your main goal is generating Form 8949, integrating with TurboTax or H&R Block, or running tax-loss harvesting, they've optimised for that workflow. They do show portfolio value and performance, though the tracking experience is fairly basic (you need to add each chain/wallet combination separately).
They support 800+ exchanges, wallets, and blockchains, and their system auto-classifies DeFi transactions (staking, LPs, lending) for tax purposes. Their free plan lets you track unlimited transactions, you only pay when you need to download tax forms.
That said, users on Reddit and Trustpilot do report issues with sync reliability (portfolios showing zero balances, slow updates), support response times, and occasional transaction misclassification. Worth checking recent reviews before committing.
Where UpdraftFi is different
Built for net worth tracking
We show you your complete financial picture: crypto, DeFi, exchanges, plus traditional assets like bank accounts and real estate. If you want one private crypto portfolio tracker that shows everything you own, that's us.
Active crypto features
UpdraftFi tracks DeFi yield and APY on your positions, and lets you swap tokens directly in the app. It's a portfolio you can act on, not just look at.
Traditional assets included
UpdraftFi tracks EVM wallets, Bitcoin, Solana, exchange balances, bank accounts, real estate, and custom assets. One place for everything.
Privacy architecture
This is where the tools differ most. Here's exactly what each approach means:
| Data | UpdraftFi | CoinTracker |
|---|---|---|
| Balance snapshots | Zero-knowledge (we cannot decrypt) | Unclear (no public spec) |
| API keys | Server-side encrypted | Server-side encrypted |
| Wallet addresses | Server-side encrypted | Server-side encrypted |
We're honest about the trade-off: we need to decrypt your API keys to auto-fetch data. But your actual balances, the numbers that matter, are encrypted with keys derived from your passphrase. We can't see your net worth even if we wanted to.
A note on CoinTracker's security: CoinTracker is SOC 2 Type II compliant, uses SSL encryption in transit, and stores API keys encrypted on their servers. This is solid standard security, but it's server-side encryption, not zero-knowledge. They can technically access your data if needed.
Which tool is right for you?
Use CoinTracker if…
Your main goal is tax reporting
You need TurboTax or H&R Block integration
Crypto-only tracking is fine
You prefer a native mobile app
Use UpdraftFi if…
You want a complete net worth view (crypto + traditional)
You care about zero-knowledge balance encryption
You have DeFi positions to track alongside everything else
You want year-round tracking, not just tax season
The bottom line
CoinTracker is a tax-first crypto tool with basic portfolio tracking. UpdraftFi is a crypto net worth tracker built for people who want privacy and a complete financial picture.
If you need tax forms, CoinTracker does that. If you want one private dashboard showing your complete financial picture, that's what we built.
Frequently Asked Questions
Sources: cointracker.io, user reviews on Reddit and Trustpilot. Last updated February 2026.
