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Splitwise VS CoinLedger

Compare Splitwise VS CoinLedger and see what are their differences

VaultNow
All-in-one crypto finance platform for companies that run on stablecoins. Invoicing, payouts, treasury, budgets and AML โ€” the whole money path in one non-custodial system. No banking friction, no spreadsheet reconciliation. featured
Note: These products don't have any matching categories. If you think this is a mistake, please edit the details of one of the products and suggest appropriate categories.
Contents:
  1. ยป Base Details
  2. ยป Videos
  3. ยป Reviews
  4. ยป Alternatives

Splitwise logo Splitwise

Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!

CoinLedger logo CoinLedger

Filing your crypto taxes has never been easier!
  • Splitwise Landing page
    Landing page //
    2023-01-23
  • CoinLedger Landing page
    Landing page //
    2023-10-02

Splitwise features and specs

  • User-Friendly Interface
    Splitwise provides an intuitive and easy-to-navigate interface, making it straightforward for users to add expenses, keep track of debts, and settle up.
  • Multi-Platform Availability
    Available on the web, iOS, and Android, Splitwise ensures users can access and manage their expenses from almost any device.
  • Expense Tracking
    The app allows users to easily log and categorize expenses, which can be particularly useful for group trips, shared households, or any shared financial responsibility.
  • Flexible Split Options
    Users can split expenses equally, by percentages, shares, or custom amounts, providing flexibility in how costs are divided among group members.
  • Currency Conversion
    Splitwise supports multiple currencies, which is handy for international travel or groups with members from different countries.
  • Bill Reminders
    The app sends reminders for outstanding balances, helping users to stay on top of their payments and avoid forgotten debts.
  • Integration with Payment Platforms
    Splitwise can integrate with payment platforms like PayPal and Venmo for easy settlement of balances.

Possible disadvantages of Splitwise

  • Privacy Concerns
    Since Splitwise involves sharing financial information with others, there could be privacy concerns for those unwilling to share detailed expense data.
  • Subscription-Based Features
    Some advanced features, such as expense exporting and additional integrations, require a Splitwise Pro subscription.
  • Manual Entry Requirement
    Splitwise requires users to manually enter expenses, which could be time-consuming and prone to errors if not done diligently.
  • Limited Automatic Reconciliation
    While Splitwise helps track who owes whom, it does not automatically reconcile or pay off balances, leaving users responsible for manual payment.
  • Dependency on Group Honesty
    The accuracy of the expense records relies on the honesty and diligence of all group members, which may not always be reliable.
  • Potential for Confusion
    The various options for splitting bills (equally, by shares, etc.) can sometimes lead to confusion or disputes among users over what is fair.

CoinLedger features and specs

  • User-Friendly Interface
    CoinLedger offers an intuitive and easy-to-navigate interface that allows users, even those with limited technical knowledge, to easily manage their cryptocurrency taxes.
  • Comprehensive Integrations
    The platform supports a wide range of cryptocurrency exchanges and wallets, enabling users to seamlessly import their transactions from multiple sources.
  • Automated Tax Reporting
    CoinLedger automates the tax reporting process by categorizing transactions and generating tax reports, which helps users save time and avoid manual errors.
  • Accurate Calculations
    CoinLedger utilizes precise algorithms and continuous updates to stay aligned with tax regulations, ensuring accurate tax calculations for its users.
  • Customer Support
    The platform provides responsive customer support to help users with any issues or questions that may arise during the setup and tax reporting process.

Possible disadvantages of CoinLedger

  • Pricing
    CoinLedger's pricing plans may be considered expensive for some users, particularly those with a high volume of transactions, as costs can scale with added transactions.
  • Complex Transactions
    While the platform handles straightforward transactions well, users with highly complex cryptocurrency transactions or those engaged in novel DeFi products might find the platform's capabilities limited.
  • Potential Data Privacy Concerns
    Users may have concerns about sharing their financial and transaction data with a third-party service, despite assurances of security and privacy from CoinLedger.
  • Limited Offline Usability
    As an online platform, CoinLedger requires an internet connection, which may be inconvenient for users who wish to work offline or have unstable internet access.

Analysis of Splitwise

Overall verdict

  • Splitwise is a highly effective tool for managing shared expenses, especially if frequent splitting of costs is involved. Its features make it easy to track who owes what, and its automatic calculations save time and reduce errors.

Why this product is good

  • Splitwise is popular because it simplifies sharing and tracking expenses among groups, making it ideal for roommates, friends on trips, or any group spendings.
  • It automatically calculates balances and reminds users about payments, reducing the awkwardness of asking others for money.
  • Offers a user-friendly interface both on web and mobile apps, which makes managing expenses convenient and accessible.
  • Supports multiple currencies, which is great for international travel groups.
  • Integration with payment platforms like PayPal and Venmo for easy settlement of debts.

Recommended for

  • Roommates who need to regularly split household bills and expenses.
  • Groups of friends or families who often travel together and need to manage shared travel costs.
  • Colleagues or classmates working on projects or events that require shared funding.
  • Anyone who wants to avoid the hassle of manually tracking and settling shared expenses.

Splitwise videos

+ Add

Splitwise - iPhone App Review! [2020]

More videos:

  • Review - Tricount vs Splitwise - App comparison
  • Demo - Splitwise Demo

CoinLedger videos

+ Add

Crypto Tax Reporting (Made Easy!) - CryptoTrader.tax / CoinLedger.io - Full Review!

More videos:

  • Review - Coinledger Review Is it Easiest For Beginners
  • Review - BEAT THE IRS! (CoinLedger CHANGES The Game For Crypto Taxes)

Category Popularity

0-100% (relative to Splitwise and CoinLedger)

Splitwise

CoinLedger

Personal Finance
100 100%
Personal Finance
0% 0
Cryptocurrencies
0 0%
Cryptocurrencies
100% 100
Expense Tracking
100 100%
Expense Tracking
0% 0
Crypto
0 0%
Crypto
100% 100

User comments

Share your experience with using Splitwise and CoinLedger. For example, how are they different and which one is better?
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Reviews

These are some of the external sources and on-site user reviews we've used to compare Splitwise and CoinLedger

Splitwise Reviews

12 Best Bill Splitting Apps in 2023
Splitwise is among the most commonly used group payment apps that can easily keep a systematic record of all your informal debts including restaurant bills, travel expenses, cost of accommodation, and much more. With this expense sharing app, users can either create groups or split the bill privately among friends. Splitwise also registers and saves all the expenses and...
Source: www.mobileappdaily.com
6 Best Bill Splitting Apps for Hassle-Free Expense Sharing
Splitwise employs an intelligent algorithm to calculate the exact amount owed by each user. It shows who paid for what, how much amount was paid by each member, and any outstanding balances. Furthermore, the application also keeps everyone updated about their balances and recent transactions.
Source: www.how2shout.com
Best Bill-Splitting Apps
For example, shared items like appetizers would be split among the entire group or just a few people in the group. The app can handily accommodate large parties by allowing you to add up to 10 people to each group. Once youโ€™ve divided up the food among all the plates you can add in tax and tip. The app is made by the same company as Splitwise and is completely free. The only...
Source: www.thebalancemoney.com
7 Best Budgeting Tools and Apps for Personal Finance
This oneโ€™s not a complete budgeting app but itโ€™s still a handy one. Splitwise is a nifty app that helps people track how much they owe to friends and colleagues and vice versa. It makes sharing expenses on outings, meals, events, etc easy to track by logging in each transaction. It basically keeps a total over time, so that you can pay back the money in a large payment,...
Source: www.softwaresuggest.com

CoinLedger Reviews

14 Best Crypto Tax Software to Ease Your Calculation and Be Compliant
CoinLedger started exclusively for the United States. Eventually, it added support for Australian users, and now anyone can use this platform if their country supports either FIFO, HIFO, or LIFO reporting methods.
Source: geekflare.com
15 Best Koinly Alternatives 2022
Similar to Koinly, CoinLedger integrates with your favorite platforms for you to import your transactions. So, whether you are trading, buying NFTs, or earning interest, CoinLedger comes in handy.
Source: rigorousthemes.com

Social recommendations and mentions

Based on our record, CoinLedger seems to be more popular. It has been mentiond 21 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Splitwise mentions (0)

We have not tracked any mentions of Splitwise yet. Tracking of Splitwise recommendations started around Mar 2021.

CoinLedger mentions (21)

  • 6 Cybersecurity Tips for Developing a Crypto iOS App
    This is also where leadership and product culture matter as much as code. David Kemmerer, co-founder and CEO of crypto taxation platform CoinLedger, has built one of the more durable consumer crypto products through multiple market cycles by treating user trust as a non-negotiable design constraint rather than a marketing line. - Source: dev.to / 4 months ago
  • Minimizing taxโ€™s on crypto
    An easier way to minimize your crypto taxes is to use a good software like coinledger that can automatically detect and capitalize on tax savings opportunities for you based on your transaction history. Source: about 3 years ago
  • 1099-B help
    Maybe https://coinledger.io/ can help. It'll go through the transactions to determine what actual gain / loss is. Source: over 3 years ago
  • PSA: Moving crypto between wallets is not taxable!
    If youโ€™re having trouble with this or you just have a fuckton of transactions, you can use crypto tax software (like CoinLedger, CoinTracker, or whatever other option you choose) to calculate your gains and losses across all your wallets and exchanges. Source: over 3 years ago
  • Things to keep in mind before the tax deadline
    In cases like these, you might want to get started with crypto tax software that can integrate with your wallets and exchanges and pull the information you need to file your taxes automatically. There are tons of good options out there (CoinLedger, CoinTracker, and many more). Source: over 3 years ago
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What are some alternatives?

When comparing Splitwise and CoinLedger, you can also consider the following products

Tricount - Manage and share expenses with friends

Koinly - Koinly is the easiest way to monitor your crypto activity & file your taxes.

Settle Up - SETTLE UP is an indispensable app for friends and flatmates who need to keep track of shared bills...

CoinTracker - The most trusted cryptocurrency tax and portfolio manager

Splid - Splid helps friends manage their money.

Blockpit - Keep track of your crypto portfolio & taxes in one place

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