Is This Crypto Tax Tracker Reliable?

Blockpit is a crypto tax software that helps you track, calculate, and report your cryptocurrency transactions across exchanges, wallets, and blockchains in one place. The best features of Blockpit are automatic exchange and wallet integrations, pre-filled tax forms for supported countries, a built-in tax calculator, a tax-loss harvesting feature, real-time portfolio tracking, and source of funds reporting for compliance checks.

In this Blockpit review, we will break down how the platform works, what countries it supports, and how accurate its tax reports really are. You will also learn about pricing, pros and cons, security, and whether Blockpit is worth using for your crypto tax filing.

What Is Blockpit in Crypto?

Blockpit is an online tool designed to help you track, calculate, and report taxes on cryptocurrency activities. The company is based in Linz, Austria, and it has spent years building relationships with accounting giants like KPMG. You can easily access it through a web dashboard or mobile app and connect your wallets and exchange accounts using read‑only API keys or public wallet addresses. Now, after you connect it, it will pull in your transaction history, categorize each entry, calculate the cost basis of your trades, and then prepare your final tax reports based on your jurisdiction.

Blockpit now supports over 160 exchanges, around 190 blockchains, and dozens of wallets. The platform covers more than 500,000 crypto assets, including NFTs, and offers integration with popular names like Binance, Coinbase, Kraken, KuCoin, MetaMask, Ledger, and Trezor. The software then goes through every single line of your history to find taxable events like airdrops, staking rewards, or hard forks.

Who Is Blockpit Crypto Tax Tracker Suitable For?

Blockpit crypto tax tracker is suitable for long-term crypto HODLers, active day traders, tax novices, deFi users, and tax professionals.

• Long‑Term Investors: Basically, it is for you if you buy and hold crypto for extended periods. Blockpit helps you monitor your cost basis and track long‑term versus short‑term gains. You can easily see how your portfolio evolves without manually updating spreadsheets.
• Active Traders: You know, day traders generate dozens or even thousands of transactions. Therefore, Blockpit automatically imports trades from centralized and decentralized exchanges, calculates gains and losses, and prepares the necessary forms. Hence, this can save you hours compared to doing everything manually.
• Tax Novices: Blockpit also offers pre‑filled tax documents for certain countries and a detailed summary elsewhere. You simply need to download the report and file it as required.
• DeFi, Staking, and NFT Enthusiasts: Blockpit analyzes all your rewards from staking, yield farming, liquidity provision, and NFT trading. Basically, it captures all those complex transaction types that aren’t always covered by traditional tax software.
• Tax Professionals: It is also a great choice for tax professionals who manage the accounts of many different clients at once. You can use the Tax Professional Portal to see all your clients in one dashboard and generate reports for them in seconds.

Which Countries are Supported on Blockpit?

Blockpit supports over 100+ countries, but full localization is restricted to a smaller set. Basically, you need to know whether Blockpit can generate ready‑to‑submit forms or just a generic PnL summary for your region.

• Fully Supported Countries (Pre‑Filled Tax Forms): You get the most benefits if you live in these fully supported nations, like the USA, United Kingdom, Germany, Austria, Switzerland, France, Spain, Italy, Belgium, or the Netherlands. Now, for these specific places, the platform provides pre-filled tax forms that look exactly like the ones the government sends you. Basically, the software knows the difference between the FIFO (First-In-First-Out) method used in some places and the HIFO (Highest-In-First-Out) method used in others.
• Partial Support: Blockpit currently offers generic English reports for a broader list of regions, including Australia, India, South Africa, and Canada. Here, you can still import transactions and download a detailed tax summary, but you must manually enter the figures into your local tax forms.

How Does Blockpit Work?

Blockpit works by pulling transaction data from your top crypto exchanges and blockchains to create a synchronized history of your entire crypto journey. You need to start by connecting your accounts through API keys or by pasting your public wallet addresses into the system. 

The software will then use its automatic sync feature to download every trade, transfer, and reward you have ever received. You will see that every transaction gets a label like Gift, Mining, or Trade, so the tax engine knows how to treat it.

The next step is the automated calculation, where the software figures out your cost basis for every asset. It is very smart, and it automatically detects when you are just moving money between your own accounts. Basically, it will not charge you tax for a transfer from Binance to your Ledger wallet because it knows you still own the coins. Well, once the data is clean, you can see your total unrealized gains on the dashboard.

You get a dashboard displaying your portfolio value, profit or loss, and asset allocation after importing. You can use the free tax calculator to estimate your current liabilities by entering purchase and sale information for specific assets or viewing a summary across your portfolio.

Finally, when you’re ready to file, you can select the tax year and click “Calculate Report.” Now, for supported countries, the output is a PDF containing pre‑filled forms like IRS Form 8949 or the equivalent European forms, and for unsupported regions, Blockpit provides a detailed CSV or PDF summary that you can easily use to fill your local forms.

What Are the Pros and Cons of Blockpit?

Pros of Blockpit

• Automatic Data Import: Blockpit connects directly to your exchanges and wallets via API keys or public addresses. Hence, this saves you from manual CSV uploads and reduces the risk of missing transactions.
• Pre‑Filled Tax Forms: Well, users in the U.S., U.K., and several European countries receive fully completed tax forms. You simply need to review and submit them.
• Support for Passive Income Activities: Blockpit also handles mining rewards, staking, yield farming, liquidity pools, and airdrops. It also calculates income from DeFi platforms.
• Tax‑Loss Harvesting: The tax optimizer feature suggests which assets to sell in order to realize losses that can offset gains. So, this feature can help you legally reduce your tax bill.
• Free Portfolio Tracking and Calculator: You can track your entire portfolio, including NFTs, at no cost. The free tax calculator provides an idea of your potential liabilities without committing to a paid plan.
• Mobile Apps and Insightful Dashboards: Blockpit offers iOS and Android apps with full functionality, including real‑time charts, cost basis calculations, and asset allocation.
• Strong Security Measures: The platform encrypts all data, uses SSL, supports two‑factor authentication, and complies with the General Data Protection Regulation (GDPR). Also, API keys are read‑only and cannot be used to move funds.

Cons of Blockpit

• Limited Full Support: Well, only around 10 countries receive fully pre‑filled tax forms, and everyone else must transfer figures to their own forms manually.
• Higher Pricing: The cost can be a bit high for people who have many small trades. You see, for an extensive tax report, you need to pay EUR49 per year.
• No Integration With Mainstream Tax Software: Currently, Blockpit doesn’t export directly to software like TurboTax or H&R Block. You may need to copy the numbers manually or ask a tax professional to assist.
• Limited Free Tier: The free plan covers portfolio tracking and the basic calculator. It doesn’t let you preview detailed tax reports or use the optimizer.

Blockpit Review: Pricing and Fees

Blockpit offers a completely free Portfolio Tracking plan if you only want to monitor assets across 160+ exchanges and 190+ blockchains. The Tax Reports plan starts at 49€ per tax year and is designed for users who need official capital gains, income reports, and tax forms for over 100 supported countries. 

The Source of Funds report at 9.99€ per case is mainly useful for compliance situations, such as explaining specific transactions to authorities or banks. Finally, if you want ongoing analytics, tax optimization, daily sync, and deeper portfolio insights, Blockpit Plus at 3.99€ per month unlocks those premium features.

Is Blockpit Free?

Yes, Blockpit has a free plan. It is free for all users who want to track their portfolio performance and monitor their digital assets in real time. You can link as many wallets and exchanges (supported ones only) as you want without paying a single dollar for the dashboard access. The software also allows you to see your Profit and Loss (PnL), your total balance, and your asset allocation across different coins.

Now, what the free plan doesn’t include is the ability to generate free tax reports or use the tax optimizer. You see, when it’s time to file your return, you will need to purchase a license corresponding to your transaction volume. The free plan also doesn’t provide pre‑filled tax forms.

Does Blockpit Have Hidden Fees?

No, Blockpit does not have any hidden fees or secret charges that will surprise you after you sign up. You pay the flat price for the license tier that matches your transaction count, and that is usually the end of the cost. You should just keep an eye on your transaction count in the “Dashboard” section to make sure you stay within your budget.

Which Payment Options are Available on Blockpit?

You can pay for your Blockpit subscription with several common methods, such as credit and debit cards, PayPal, SEPA Direct Debit, EPS, Klarna, Giropay, and iDEAL. Now, all these payments are processed through Stripe. Also, at the time of this Blockpit review, the company was also considering adding cryptocurrency payments, but they were not yet available.

Blockpit Review: Key Features

The top features of Blockpit are the tax calculator, tax optimizer, portfolio tracker, source of funds report for compliance, and easy crypto wallet and exchange integration.

Blockpit Review: Tax Calculator and Reporting

The tax calculator is a lightweight tool available to everyone, and here, you can enter the purchase date, cost, and sale information for a crypto asset, and it calculates the gains or losses based on the current price. Well, this quick calculation helps you understand how selling today would impact your taxes. The calculator also factors in the applicable tax rate for your country, and gives you an estimate of what you might owe.

Also, when you need a full report, Blockpit analyzes all your imported transactions, applies the correct cost basis method (currently FIFO), and generates a PDF or CSV file. Plus, in supported countries, the report includes pre‑filled government forms. So, for instance, U.S. residents receive IRS Form 8949, Schedule D, and Form 1040 attachments, while European users get local equivalents.

Blockpit Review: Tax Optimizer

Tax optimization goes beyond basic reporting. You see, Blockpit’s optimizer analyzes your portfolio and then identifies opportunities to realize losses or offset income. 

So, for example, if you hold an asset that has declined in value since you bought it, the optimizer may suggest selling it before year‑end to reduce your taxable capital gains. It takes into account holding periods because different jurisdictions tax long‑term and short‑term gains at different rates. The optimizer also indicates whether losses can be carried forward into future tax years.

Blockpit Review: Portfolio Tracker

The Portfolio Tracker is a visual tool that provides a real-time overview of your wealth across all connected platforms. It shows you charts that track your balance over time, so you can see if you are actually making money or just losing it. Basically, the tracker is not just for taxes; it is for daily management of your risk and your asset allocation. You can easily see if you have too much money in one coin, like Ethereum, and if you need to diversify into other assets.

The tracker also includes sections for NFTs, with images and floor prices, and highlights the “best performer” in your portfolio. Now, beyond simple numbers, Blockpit’s tracker offers insights such as the percentage of your portfolio that’s taxable and which coins have unrealized gains or losses. 

You can filter by transaction labels, like trades or staking rewards, and export the data for further analysis. The information stays synchronized thanks to daily transaction updates (available with Blockpit Plus) and automatic merging of duplicate transactions.

Blockpit Review: Source of Funds

The Source of Funds report is a specialized document designed to prove to banks and authorities that your crypto wealth is legitimate. You really need this if you are trying to buy a house, get a mortgage, or transfer a six-figure sum back to your traditional bank account. 

You know, banks are very scared of crypto because of money laundering rules, and they will often freeze your account if you can’t prove where the money came from. Basically, this report creates a “Chain of Custody” that traces your money from the day you first bought it, and shows every trade and every transfer you ever made to get to your current balance.

It is a professional PDF that includes your name, your transaction history, and a certification that the data has been verified. Honestly, this report can save you weeks of stress and legal fees if you ever get into a fight with your bank’s compliance department.

Blockpit Review: Exchange, Wallet, and Blockchain Integrations

Blockpit supports over 160+ different integrations with the world’s most popular crypto platforms and networks. You can connect to major exchanges like Binance, Kraken, Coinbase, Bybit, KuCoin, and Bitpanda using safe API keys. Also, it supports top cryptocurrency wallets like MetaMask, Trust Wallet, or Ledger wallets.

Well, the platform also supports direct blockchain imports for over 190+ chains, including Bitcoin, Ethereum, Solana, Polygon, and BSC. Basically, you just need to paste your public address, and the system pulls in all your on-chain history without needing any passwords.

How to Register and Use Blockpit?

Step 1: Create an account on Blockpit

The very first step is to visit “blockpit.io” and click the “Start for Free” button in the top right corner. You only need a valid email address and a strong password to get inside the dashboard immediately. Later, you must select your “Country of Residence” during this part because the software needs to load the correct tax laws for your specific region.

Step 2: Connect the exchange and wallets

Alright, you need to bring your data into the system by clicking the “Add New” button located in the “Portfolio” menu. You can connect your Binance, Coinbase, or Kraken accounts using secure API keys that are set to “read-only” mode for your safety. 

Well, for your personal wallets like MetaMask or Ledger, you just paste your public wallet address, and the software pulls the entire history from the blockchain. It supports over 160+ exchanges and more than 190+ blockchains, so you can probably link everything you own.

Step 3: Track portfolio and generate PnL reports

You should wait for the automatic sync to finish so you can see your real-time “Profit and Loss (PnL)” on the main dashboard. You can check the “Dashboard” tab to see every single trade and reward that the system found in your history. 

It is a good idea to review the labels like Staking or Airdrop to make sure the software classifies your income correctly, and you get a very clear view of your ROI and your total net worth without doing any manual math.

Step 4: Use the tax optimizer and download forms

The final step is opening the “Tax Optimizer” to see if you can lower your bill by selling some losing coins before the year ends. Anyway, once everything looks perfect, you just choose your plan and hit the “Generate Report” button to download your official PDF tax document. You now have a professional file that is ready to be sent to your local tax authorities or your personal accountant.

Is Blockpit Crypto Tax Software Easy to Use?

Blockpit crypto tax software is very easy to use, and it is widely considered one of the most user-friendly tools in the entire industry. The design is clean, the colors are soft, and the menus are logically organized so you never feel lost. You don’t need any accounting degree or technical coding skills to get your reports ready. Actually, the step-by-step guides built into the dashboard are perfect for people who are using a tax tool for the first time.

Even the most complex parts, like DeFi liquidity, are handled with simple labels that make sense to a normal person. Anyway, if you ever run into a problem, you can use the “Knowledge Base”, which is full of hundreds of helpful articles.

The mobile apps mirror the web interface, so you can monitor your portfolio and generate reports on the go. The only part that might be challenging is locating and entering API keys from your exchanges, but Blockpit offers step‑by‑step instructions, and once set up, you rarely need to repeat this process.

Is Blockpit Legit, Safe, and Worth It?

Blockpit has a strong reputation for reliability. It has been operating since 2017 and maintains a solid Trustpilot rating (4.4/5). It’s particularly appealing if you live in one of the 10 fully supported countries, because the software generates ready‑to‑submit forms.

The platform is extremely safe because it never asks for your private keys and only uses “Read-Only” access to your exchanges. Basically, this means the software can see your data, but it can never transfer your coins or withdraw your cryptocurrency. They use AES-256 encryption, which is the same level that banks and military systems use. So, data is encrypted in transit and at rest, the website uses SSL, and two‑factor authentication is available. Plus, the company also complies with GDPR.

Also, Blockpit is definitely worth the investment if you want to track your crypto investments and avoid huge legal fees from a tax audit. You know, a tax mistake can cost you thousands of dollars in penalties, so paying $100 for a certified report is a very smart move.

Conclusion: Is Blockpit the Best Crypto Tax Software?

To sum up our Blockpit review, It is likely the best choice for tax obligations, and if you live in Europe or the US and need a legally solid tax report that is easy to generate. It offers a perfect mix of high-level features like “Source of Funds reporting” and simple tools like the “Free Portfolio Tracker”. Well, the pricing is fair as well for the value you get, especially if you use the “Tax Optimizer” to save more money than the software costs.

But again, Blockpit has limitations. Its free plan is basic, its cost‑basis calculation relies only on FIFO, and it does not integrate with mainstream tax software. Plus, if you live outside the fully supported countries, you may need to do more manual work and only get generic tax reports without any pre-filled forms.