The Best Tools to Track Your Cryptocurrencies: DeBank, Zerion, CoinTracking and More

If you hold cryptocurrencies across multiple wallets, exchanges, and DeFi protocols, you know how hard it is to keep precise control over all your activity. Between transfers, swaps, staking, airdrops, and multichain operations, keeping a manual log can become a nightmare—especially when it’s time to file with the Spanish Tax Agency (AEAT).

Fortunately, there are tools designed to automatically track your blockchain transactions and help you visualize your portfolio in real time. From free solutions like DeBank and Zerion to tax-focused platforms such as CoinTracking or Koinly, the market offers plenty of options.

But which one is best for your needs? Are they enough to comply with the tax authority? In this guide we analyze the main tools available, their advantages, limitations, and when you really need a professional service.

Before diving into specific tools, it’s important to understand why tracking your crypto activity is essential:

1. Tax obligation with the AEAT

In Spain, all cryptocurrency transactions are taxable. Every swap, sale, or exchange generates a capital gain or loss that you must declare in your income tax (IRPF). In addition, if your cryptocurrencies are held on foreign exchanges or non-custodial wallets and exceed €50,000, you must file form 721 (formerly 720).

Without an accurate record of all your transactions, it is practically impossible to correctly calculate your gains and fulfill your tax obligations.

2. Portfolio management

Beyond tax obligations, tracking your portfolio lets you:

• Visualize your exposure to different assets and protocols
• Spot opportunities for rebalancing or taking profits
• Calculate your true performance across all chains and wallets
• Identify tax-loss opportunities to offset gains

3. Traceability and security

Having a complete record of your operations helps you:

• Detect unauthorized or suspicious movements
• Recover information if you lose access to wallets
• Prove the legitimate origin of your funds if needed

Let’s start with the most popular, accessible options to track your portfolio at no cost.

DeBank: the most complete multichain tracker

DeBank has become one of the most powerful free tools for DeFi portfolio tracking. Its intuitive interface and broad multichain support make it an excellent choice for active DeFi users.

Key features:

• Multichain support: Ethereum, BSC, Polygon, Arbitrum, Optimism, Avalanche, Fantom, and 40+ blockchains
• Deep DeFi integration: Automatically recognizes positions in lending, liquidity pools, staking, and hundreds of protocols
• Real-time visualization: Shows the current value of all assets, including LP tokens and complex positions
• Transaction history: Access to the full activity across all connected chains
• Profitability analysis: Calculates your PnL (Profit and Loss) by protocol and asset

Pros:

✅ Completely free ✅ Excellent for DeFi: Automatically recognizes most protocols and positions ✅ Highly visual interface and easy to use ✅ Real-time updates ✅ No registration required (connect your wallet directly)

Limitations:

❌ Not designed for tax reporting: Does not produce AEAT-compliant reports ❌ No reconciliation between wallets: Transfers between your own wallets may be double-counted ❌ Limited with centralized exchanges: Does not automatically import Binance, Coinbase, etc. ❌ No tax classification: Does not distinguish operation types per Spanish tax rules ❌ Simplified PnL calculation: Does not correctly apply FIFO under Spanish rules

When to use DeBank?

DeBank is ideal for:

• Real-time, visual tracking of your portfolio
• Active DeFi users who want to see all positions in one place
• Quick performance analysis by protocol or asset
• A complementary tool for portfolio management

Not recommended as the sole source for preparing your tax return.

Zerion: elegance and simplicity

Zerion is another very popular free tool, known for its elegant design and user experience focus.

Key features:

• Multichain support: Ethereum, Polygon, Arbitrum, Optimism, BSC, Avalanche, Base, and more
• Integrated wallet: In addition to tracking, it works as a non-custodial wallet
• Portfolio tracking: Clear visualization of all assets and their value
• Transaction history: Full access to your on-chain activity
• DeFi integration: Recognizes positions in major DeFi protocols

Pros:

✅ Free with no limits ✅ Polished, modern interface ✅ Excellent mobile app ✅ Wallet functionality: You can transact directly from the platform ✅ Portfolio change notifications

Limitations:

❌ Same issue as DeBank: Not designed for tax reporting ❌ Lower DeFi protocol coverage compared to DeBank ❌ No tax reports ❌ No reconciliation of internal transfers ❌ No integration with centralized exchanges

When to use Zerion?

Zerion is perfect for:

• Users who value design and simplicity
• Basic multichain portfolio tracking
• Combining wallet + tracker in a single app
• Mobile crypto management

DeBank vs Zerion comparison

Conclusion: Both are excellent for visual tracking, but neither is suitable for a Spanish tax return.

If you need to prepare your tax return, you should consider tools designed specifically for that purpose.

CoinTracking: the industry veteran

CoinTracking is one of the oldest and most complete platforms on the market, with over 10 years of history.

Key features:

• Bulk importing: Connects to 110+ exchanges via API or CSV
• Support for 20,000+ assets and hundreds of blockchains
• Multiple accounting methods: FIFO, LIFO, HIFO, and others
• Tax reports: Generates reports according to various countries’ rules
• Advanced analytics: Charts, statistics, and portfolio management tools

Pros:

✅ Very comprehensive for users with high transaction volumes ✅ Supports practically all exchanges ✅ On-chain wallet imports via public addresses ✅ Reconciliation of transfers between wallets and exchanges ✅ Plans from €10.99/month with different transaction limits

Important limitations:

❌ Not tailored to Spanish taxation: Reports don’t follow AEAT specifics ❌ Generic classification: Does not correctly distinguish income types under Spanish rules ❌ Complexity: Steep learning curve ❌ May require manual edits: Many DeFi operations need adjustments ❌ No separation of Form 100 vs Form 721 obligations ❌ Price: Basic plan is limited; pro plans from €55.99/month

When to use CoinTracking?

CoinTracking can be useful as:

• A centralized database for all your transactions
• A tool for users with very high volumes
• A solution for countries with simpler crypto tax regimes

For Spain: The report requires significant review and adaptation by a professional.

Koinly: the most user-friendly

Koinly has gained popularity for its user-friendly interface and focus on simplifying tax filing.

Key features:

• Integration with 700+ exchanges and wallets
• Automatic importing via API, CSV, or blockchain addresses
• Tax reports for 100+ countries (including Spain)
• Smart detection of internal transfers
• DeFi support: Recognizes operations in major protocols

Pros:

✅ Very intuitive interface ✅ Faster setup than CoinTracking ✅ Better automatic detection of transfers between own wallets ✅ Multi-currency support and historical price updates ✅ Free plan to review (pay only to download reports)

Limitations for Spain:

❌ Generic reports: Although it has a "Spain" option, it does not fully adapt to AEAT criteria ❌ Incomplete classification: Does not correctly separate business income vs capital gains ❌ Limited DeFi: Complex operations (wrapping, bridging, LP tokens) often misclassified ❌ Does not generate Form 100: Produces a general CSV, not AEAT forms ❌ Price: Plans from $49/year for 100 transactions up to $279/year for unlimited

When to use Koinly?

Koinly is recommended for:

• Users with a simple portfolio (mainly exchange buy/sell)
• Cases with few complex DeFi operations
• A starting point later reviewed by a tax advisor

Other tax tools

Accointing

• Similar to Koinly in functionality
• Modern interface and mobile app
• Similar limitations for Spanish taxation
• Plans from €149/year

CryptoTaxCalculator

• Focused on English-speaking markets
• Good DeFi integration
• Poorly adapted to Spain
• From $49/year

Bitcoin.tax

• One of the oldest tools
• Mainly US-focused
• Not recommended for Spain

Paid tools comparison table

While all these tools are useful, it’s essential to understand their specific limitations for AEAT compliance:

1. Incorrect application of Spain’s FIFO rule

The AEAT requires the FIFO (First In, First Out) method to compute capital gains. Although many tools offer FIFO, their implementation often doesn’t match the Spanish interpretation, especially when there are:

• Multiple wallets and exchanges
• Transfers between your own accounts
• Multichain operations of the same asset

2. Incorrect tax classification

In Spain, according to the AEAT, crypto activities fall into:

• Capital gains (Form 100 – IRPF)
• Investment income (staking, lending)
• Business income (if you’re a professional trader, miner, etc.)

International tools don’t classify these correctly.

3. Failure to identify Form 721 obligations

If your crypto held abroad exceeds €50,000, you must file Form 721. Automated tools:

• Don’t correctly calculate this threshold
• Don’t distinguish which assets are “abroad” per AEAT
• Don’t generate the required format for this form

4. Misclassification of complex DeFi operations

Tools frequently struggle with:

• Wrapped tokens (WETH, stETH): Often counted as sales when they are 1:1 conversions
• Multichain bridging: Logs two transactions (outflow + inflow) as separate taxable events
• LP tokens: Don’t correctly account for exposure to IL (impermanent loss)
• Airdrops: Don’t distinguish between free airdrops and activity-based rewards
• Failed transactions: Sometimes record gas fees without an effective operation

5. No reconciliation of internal transfers

When you transfer your own funds between:

• Wallet A → Exchange B
• Exchange A → Wallet B
• Ethereum wallet → Polygon wallet (bridging)

Tools may:

• Treat them as sales (creating phantom gains/losses)
• Duplicate transactions
• Lose cost-basis traceability

Although some tools like Koinly try to auto-detect them, the error rate remains high.

6. No AEAT-ready documentation

The tools produce:

• Generic CSVs or PDFs in English
• Reports that don’t match Form 100 box structure
• No references to Spanish regulations
• No explanatory memorandum to accompany the filing

The tax authority may request additional supporting documentation, which these tools don’t provide.

Automated tools can be a good starting point, but there are situations where you need specialized professional advice:

Cases that require a professional service:

1. High DeFi transaction volume

If you’ve been active in:

• Multiple DeFi protocols (Uniswap, Aave, Curve, etc.)
• Complex multichain operations
• Liquidity mining and yield farming
• NFTs (buying, selling, creating)

Why: Automated tools misclassify most of these operations, creating cascading errors.

2. Portfolio spread across many platforms

If you hold crypto on:

• More than 3–4 different exchanges
• 5+ wallets across different blockchains
• Foreign exchanges without available APIs
• Sunset platforms or with no historical access

Why: Reconciling internal transfers becomes extremely complex and error-prone.

3. You need to file Form 721

If your crypto assets abroad exceed €50,000:

Why: Tools don’t correctly calculate this form, and mistakes can lead to very high penalties (minimum €10,000).

4. Historical operations or incomplete data

If:

• You operated before 2018–2019 and some exchanges no longer exist
• You lost access to old wallets
• You don’t have complete records of some operations
• You need to rebuild history via blockchain analysis

Why: Requires specific methodology for blockchain traceability and cost-basis reconstruction.

5. Business activity with crypto

If:

• You mined cryptocurrencies
• You are an NFT creator
• Professional trading (high frequency)
• You received payments in crypto for services

Why: These activities are taxed as business income, requiring IAE registration, quarterly filing (Form 130), and a completely different tax treatment.

6. Review or discrepancy with the tax authority

If:

• The AEAT has sent you a notice
• You need to file an amended return
• You want to submit an appeal or claims

Why: Requires deep knowledge of tax rules and AEAT specifics.

What a professional service provides

A specialized crypto tax service like Cleriontax offers:

✅ Manual review of all transactions, fixing automatic misclassifications

✅ Correct FIFO application under AEAT criteria, including reconciliation of internal transfers

✅ Accurate tax classification of each operation under Spanish rules:

• Capital gains
• Investment income
• Business income
• Non-taxable operations

✅ Form 721 calculation where applicable, correctly identifying relevant assets and thresholds

✅ AEAT-ready reports formatted and structured for Form 100, plus supporting documentation

✅ Explanatory memorandum to accompany your return—useful if you receive a notice

✅ Personalized advice on tax optimization, loss offsetting, and planning

✅ Support before the AEAT in case of notices, audits, or discrepancies

How much does a professional service cost?

Prices vary by complexity:

• Simple portfolio (exchanges only, <200 transactions): from €150–€300
• Medium portfolio (basic DeFi, multichain, 200–1,000 txs): €400–€800
• Complex portfolio (advanced DeFi, multiple chains and protocols, >1,000 txs): €800–€2,000+

It seems expensive compared to tools costing €50–€150/year, but consider:

• Avoiding errors that could cost thousands in penalties
• Saving time (dozens of hours of manual work)
• Peace of mind that your return is correct
• Representation before AEAT if needed

ROI: An error in capital gains or failing to file Form 721 can result in penalties of €10,000 or more. Investing in a professional service easily pays for itself by avoiding a single mistake.

The choice depends on your profile and needs:

Use free tools (DeBank, Zerion) if:

• You only want visual tracking of your portfolio
• You need to see your DeFi positions in real time
• You are not preparing a tax return yet
• You complement them with other tools for tax purposes

Recommendation: DeBank for advanced DeFi, Zerion for simplicity and mobile.

Use paid tools (Koinly, CoinTracking) if:

• Your portfolio is relatively simple (mainly exchanges)
• You have few complex DeFi operations (<50 DeFi txs/year)
• You’re willing to review and correct the report before filing
• You have tax knowledge to adapt results to Spanish rules
• You want an organized data base to later work with an advisor

Recommendation: Koinly for ease of use; CoinTracking if you have high volume.

You need a professional service if:

• Complex portfolio with multichain DeFi
• More than 500 transactions/year
• You need to file Form 721
• Business activity with crypto (mining, NFT creator, professional trader)
• Incomplete historical data or discontinued exchanges
• You’ve received a notice from the AEAT
• You want guaranteed accuracy and to avoid costly mistakes
• You value your time and prefer to delegate to experts

Combined strategy

Many users combine tools:

1. DeBank/Zerion → Day-to-day portfolio tracking
2. Koinly/CoinTracking → Initial data organization
3. Professional service → Review, correction, and final filing

This strategy optimizes cost and accuracy: leverage automation where it works well, but ensure tax accuracy where it matters most.

Final recommendation

If you’re reading this because you need to file your crypto taxes with the AEAT, our recommendation is clear:

Automated tools are useful, but they don’t replace professional review for the Spanish market.

Crypto taxation in Spain is complex and specific. AEAT criteria (FIFO, income classification, Form 721) require specialized knowledge that generic tools can’t provide.

If your portfolio includes DeFi, multichain operations, or exceeds 200–300 transactions per year, investing in a professional service will save you time, money, and headaches.

Need help with your crypto tax return?

At Cleriontax we specialize in cryptocurrency taxation in Spain. Our team combines:

• Tax expertise with specific AEAT criteria
• Blockchain data analysis for full traceability
• Manual review of every transaction
• Professional reports ready to file

If you want a professional, accurate tax report tailored to Spanish regulations, contact us → for a personalized assessment of your case.

Don’t leave your tax return to chance. The difference between a generic tool and a professional service can be the difference between proper compliance and facing penalties and notices.