Tradeswatch vs. CoinLedger : which crypto portfolio tracker choose in 2025

CoinLedger is one of the most popular tool when it comes to tracking crypto and tax reporting. Tradeswatch on the other hand is more recent, and focus on portfolio tracking and analysis more than tax reporting. Tracking tools are essential for any investors who want to keep an eye on their investments and perform well. CoinLedger and Tradeswatch are two of the most advanced solutions available on the market. But which one is the best for you in 2025? Let's compare them.

What is CoinLedger?

Founded in 2018, CoinLedger is a cryptocurrency tax reporting and tracking tool that enables users to do their tax reporting and track their digital assets across various wallets, exchanges. CoinLedger supports CEX and decentralized finance (DeFi) tracking.

What is Tradeswatch?

Tradeswatch is a cryptocurrency portfolio tracker focusing on portfolio tracking and analysis. It is a complete tool for analyzing your portfolio. While tax reporting is not its main focus, its data export feature allows users to generate detailed transactions history in XLSX format, ready for tax accountants.

Comparison between Tradeswatch and CoinLedger

When comparing Tradeswatch and CoinLedger, several key features stand out that differentiate these platforms. Each feature addresses specific needs of crypto investors and traders with varying levels of sophistication.

CEX Tracking

Tradeswatch and CoinLedger both offer unlimited portfolio and transactions limit and provides similar portfolio tracking features, allowing users to track their transations across different centralized exchanges.

DeFi Tracking

CoinLedger has superior capabilities regarding DeFi tracking and allows users to monitor their decentralized finance investments across many DeFi protocols. Tradeswatch acknowledges the importance of DeFi tracking and has this feature on its development roadmap and is planning to introduce DeFi tracking capabilities in the near future to provide users with a complete view of both their centralized and decentralized investments.

Tax Reporting

CoinLedger focuses on tax reporting and allows users to generate tax reports for their crypto investments. Tradeswatch however does not offer any tax reporting capabilities but instead offer the users the capability to generate a detailed transactions history in XLSX format, ready for tax accountants.

Portfolio Analytics

For portfolio analytics, CoinLedger provides basic metrics where users can see their global profit and loss. Tradeswatch goes beyond that and delivers advanced analytical tools that help traders identify in an eye blink their performance per trading pair, the fees they spent, their average buying/selling price and more.

Smart Alerts

Tradeswatch provides smart alerts that allows users to receive notifications on multiple channels including Telegram, Discord, emails or webhooks. Users can set alerts to receive Top 100 Crypto Market Cap updates, BTC dominance updates, portfolio value updates and more. CoinLedger does not provide any sort of notifications.

Data Export

Tradeswatch offers allows its users to export their complete data in just a few clicks in a formatted XLSX format, ready for an accountant to take over. CoinLedger does not allow to export users data but instead allows to export CSV tax reports such as Capital Gains, Income, End of Year Positions etc.

Manual Transaction Entry

CoinLedger allows manual transaction entry and file uploads. At the moment, Tradeswatch however does only support manual entry for trades. Giving the importance of manual entry and CSV upload for many users, Tradeswatch  has this feature on its development roadmap and is expected to release it in 2025.

Trade Notes

Trading journals are essential for improvement. Both Tradeswatch and CoinLedger offer to add notes on transactions.

Alerts & Notifications

Tradeswatch provides a sophisticated alert system with multi-channel customizable notifications when their orders are executed. Users can also set alerts based on price movements, portfolio value changes, or specific market conditions, and receive these alerts through multiple channels including email, telegram, discord or webhooks, ensuring they never miss important market events.

Pricing & Plans comparison

CoinLedger offers a free tier with basic portfolio tracking features. On the other hand, Tradeswatch does not offer a free tier but instead a free trial for multiple days. CoinLedger and Tradeswatch have different pricing models. CoinLedger charges a one time payment for tax report and the price corresponds to the number of transactions the user has, starting at $49 for 100 transactions, up to $199 (or more) for 3,000 (or more) transactions. Tradeswatch however offers a subscription model with a free trial for 7 days. The price is $9.99 per month for the lowest tier, up to $49 per month for the highest tier.

What makes Tradeswatch better than CoinLedger?

While CoinLedger thrives on tax reporting, Tradeswatch offers a more comprehensive, complete and user-friendly experience when it comes to portfolio tracking and analysis. CoinLedger however supports more integrations and DeFi, which currently lacks in Tradeswatch.

Conclusion

While both platforms have their strengths, Tradeswatch emerges as a compelling alternative to CoinLedger, especially for users seeking advanced portfolio analytics. With its different features and a user-friendly interface, Tradeswatch provides excellent value for cryptocurrency investors. CoinLedger stands by its remarkable tax reporting features and Tradeswatch is a great alternative for users who want to track their portfolio and analyze their performance without the need to pay for tax reporting. People in need of tax reporting would be better off with CoinLedger and traders/investors who want to track their portfolio and analyze their performance would be better off with Tradeswatch.