Auto-Tagging for DeFi Precision
CoinTracker has introduced automatic transaction categorization to enhance accuracy in accounting for DeFi activities, especially where default send/receive classifications fall short. This update ensures transactions reflect the specific activity within your wallet and have the appropriate tax treatment. For example, staking deposits will now be marked as
Stake, catering specifically to DeFi protocols. These categories are non-manual, applied automatically based on the DeFi protocols supported by CoinTracker. This feature impacts users with self-custody wallets on supported EVM chains.
Note: Users with basic transfer/trade-only wallets or non-self-custodied wallets won't experience any changes.
Verifying Transaction Impact
To check if you're affected, review your transactions. Look for categories like
Add liquidity, etc. Your account will visually display these tags, replacing generic labels such as Trade, Send, Receive. Note: Transaction tags may influence capital gains calculations; refer to our Transaction Tag Definition guide for tag definitions and tax implications.
Managing Incorrect Classifications
If you're satisfied with the assigned tags, no action is needed. However, if the classification is incorrect, leverage our bulk-tagging feature for manual adjustments. Learn more about this process in our How to Use Transaction Categories guide.
Additionally, if you find that a classification is incorrect or would like support for a specific classification and would like CoinTracker to review the auto-tagging for a specific protocol or DeFi activity - please submit a request on our feedback forum for review! See our guide on how to submit feedback here. If you require direct assistance, please contact our support team directly. Thank you for your understanding and cooperation as we work to enhance your CoinTracker experience!