We are building a unified frontend for cryptocurrency.
CoinTracker provides cryptocurrency holders a holistic view of their crypto in a unified interface. This is enabled by connecting their wallets and exchanges, and automatically and continuously synchronizing their data.
Being wallet and exchange agnostic and having a holistic view of one's crypto uniquely positions us to address some of the biggest problems in cryptocurrency, including portfolio management, tax calculation & optimization, user-friendly trading, and payments.
Since we started CoinTracker in 2017, we have helped our users claim $200M+ of capital losses, managed 100K+ wallet exchanges, tracked over $10B of our users' crypto transactions, and launched partnerships with TurboTax and Coinbase. We’re also profitable (>$1M in the last year) and growing (>2X YoY, during crypto winter).
Customer Comes First
We are focused on real-world pain points.
Prior to CoinTracker, we started building a fintech app that automatically invested users’ excess cash. We quickly became frustrated with the status quo of existing financial infrastructure. We were heavily constrained by dated technologies like ACH – it took 11 days (!) for the first bank transfer between our accounts to settle.
This fueled our excitement for blockchain, and in parallel, we increased our personal investment in cryptocurrency. As crypto-investors, we found it difficult to figure out which crypto assets we owned, let along their cost basis, performance, ROI, or tax implications. We further validated that this problem was widespread in online cryptocurrency communities and saw that all existing solutions were basically built around importing CSVs from different exchanges or worse: manually entering every transaction line-by-line. We wanted something more seamless and automated — so we built it.
Being customers of our own product has meant that we have had deep authentic empathy for our users since day one. Everyone at CoinTracker is a user of the product and we maintain an organically grown Telegram group of power users who generally provide unprompted feedback of new features within 30 minutes of launching. In general, we speak to dozens of users every single day and this helps us maintain an edge on building products our users love.
We’re a fast-moving team in a fast-moving industry.
We never spend more than two weeks working on anything before putting it in front of real users and seeing how they respond. Jon built the entire tax product in two weeks and launched it on TechCrunch (the same day we got backed by Initialized Capital).
This can be attributed to (a) being focused, (b) breaking up large efforts into tactical tasks, and (c) shipping early, often, and regularly. The more quickly we can launch a feature, the more quickly we can learn and better steer ourselves in the right direction.
Creative + Innovative
We build the best solution possible by getting to the root of the problem.
When we experienced the pain point of tracking our cryptocurrency holdings, our first reaction was to investigate existing products. The results were not inspiring: hours of manual entry, batches of CSV uploads, and archaic interfaces built for accountants.
The original promise of bitcoin was as a peer-to-peer electronic cash system that people could transact with. As they organically traded and transacted, would they want to regularly import CSVs from every exchange and wallet? We certainly didn't as users. What we really wanted was to have a product that would just work seamlessly.
So we crafted an elaborate get-rich-quick scheme, and devised the perfect ICO. We penciled together a five-year roadmap, got Vitalik and Satoshi as our advisors, and raised $50M for CoinTrackerCoin within two weeks!
Just kidding 😛
In three days, we put together a dashboard to immediately see your investment performance. Jon further iterated on the data import process to setup a seamless import of Coinbase transaction data and CoinTracker account creation in a single step — no manual entry or CSVs required, and it automatically synced all transactions on an ongoing basis. This was a step-function improvement on crypto portfolio tracking and users voted with their feet.
We don’t shy away from technical challenges.
Our product drive is backed by technical depth and quality. Making cryptocurrency simple for users requires us to do heavy lifting technically. Examples of our engineering challenges include:
- Interoperating with thousands of centralized and decentralized exchanges, crypto protocols, and blockchains
- Scaling our systems to handle users with millions of transactions per year
- Handling billions of data points for historical prices of cryptocurrencies with precision
We have continuous integration, unit tests with >80% coverage, and multiple daily automated deployments to production.
We want to harness our collective strengths to tackle an important mission.
We have an ambitious mission of transitioning the world to a better financial system. We aren’t going to achieve this alone — it’s going to take many brilliant minds working together. To do so it’s critical for us to foster a culture of high transparency, empowerment, and meritocracy. Everyone on the team has complete access to relevant company information and we proactively seek out critical feedback from one another.
Everyone is expected to be the CEO of their projects.
CoinTracker employees take end-to-end ownership on tasks big and small.
In Alexey’s second week at CoinTracker, he started tackling scaling. Our performance was terrible at the time and page load times for “whale” accounts (>10K transactions) were ~15 seconds. Within two weeks he implemented summary tables supported by triggers, database replication, in-memory caching, and more performant cost basis algorithms. His work resulted in a 10X improvement in performance (1.5 seconds load time) and allowed us to support even larger accounts (>250K transactions)! Alexey took complete ownership of the objective, including adding the necessary instrumentation to fully understand root causes, defining a prioritized list of issues, implementing changes, shipping them, reconciling metrics, and talking to users.
We work hard, but not at the expense of our personal lives and families.
Taking a step back from the day-to-day life at CoinTracker, we believe in cherishing all aspects of life. Jon has a three-year old daughter and Chandan will be getting married soon. We will always have time to spend with our families and loved ones, and we want all of our employees to as well.
We believe happiness fuels creativity, productivity, and long-term sustainable thinking. We trust every person to manage their own time and take as much vacation as needed. Additionally, to encourage everyone to expand their horizons, we expense an unlimited number of books for every employee. If you want to learn more about the industrial revolution, rare species of fish, or just read a fantasy novel, we want you to, too! Fun fact: Alexey reads 300 books a year! This is a perk we provide all of our employees as a part of our collective growth mindset.
Day to day, we work in our office in downtown SF (not WFH). We have minimal process — one daily standup and regular 1:1s. Most of the day people have time and space to work independently and break out into organic discussions as needed. We cater lunch and eat together on a daily basis, while fiercely debating topics ranging from financial markets to ancient history.