Ten years ago, crypto transactions mainly took place with Bitcoins. Until now, several thousand additional altcoins and tokens are available with different use cases. Also the number of trading platforms and new exchanges exploded in all parts of the world. Some providers (like Binance) even created different platforms for users in different countries. All the profits with cryptos led also to taxes. To be safe with your tax declarations we want to present you our Cointracking review.
A small number of exchanges served the crypto community worldwide with the necessary interfaces between fiat money and crypto. The growing interest in cryptocurrencies recently led to many financial services in the area. Meanwhile even the regulators take an eye onto cryptocurrency. Therefore the topic of crypto taxes became also relevant. We want to show you in our Cointracking review one of the most popular tools for calculating your crypto taxes.
The background is the different regulations and tax laws in each jurisdiction. Investors can also get help from the cointracking review. You can get more information about cryptocurrency in our Investment4Insider Telegram group.
The development of the crypto space and the challenges
As crypto technology evolved, additional services were created. At first, these mainly included wallets where investors store their cryptocurrencies and tokens. Later, other types of investment platforms like NFT marketplaces and crypto banks got popular.
Many crypto investors trade or store different coins and tokens through several accounts and different providers. In order to keep the overview, users of cryptocurrencies create tables. every transaction has to be entered manually so that it is permanently up-to-date. Especially for very active traders, this is a huge additional workload. It should not be underestimated, according to our Cointracking review.
Beginners must also learn not to lose track of their number of platforms.
Another important reason not to lose track of one’s crypto investments is the issue of taxation of investment profits. This is where crypto the Cointracking review is interesting. At the beginning of the crypto era, the tax offices of this world could hardly do anything with the issue of crypto investments.
Our Cointracking review presents the solution
For some users it already becomes clear at this point. An API solution is necessary to meet this challenge. An API is an interface that connects software offerings from different service providers. They need a tool that clearly displays the contents of their accounts.
However, laws are developed or adapted in many countries to tax the profits made through crypto investments. This is another reason why it is important for investors to always keep an eye on their crypto assets.
Our Cointracking review offers a solution for this. In order to be able to handle the portfolio and the taxation well, today there are special platforms that have been developed for this purpose. One of the best-known providers we want to present you in the Cointracking review, the platform from a company in Munich.
What is exactly is our Cointracking review about?
Users of Cointracking need to open a free account on the website. Our Cointracking review shows you the platform that gives investors of cryptocurrencies the overview on their complete portfolio. When you log in, you have access to your dashboard.
The graphics display the details of investments on various external platforms. To achieve this, these external providers must be connected to the platform via interface.
Cointracking has already set up valid interfaces to several platforms. These include market leaders such as Binance, Coinbase or Kraken, among others. Wallets such as Exodus, Ledger and Trezor can also be connected.
In addition, customers can also use many medium and smaller platforms for their account. The company’s website lists over one hundred compatible platforms and wallets. The company is also working to connect more providers to the platform via API.
If you want to learn more about this, join our Investment4Insider Telegram group.
Leading crypto tax calculator
According the Cointracking review the provider is considered as market leader since it supports multiple countries. In German-speaking countries, it therefore does not matter whether users prepare their tax returns in Germany, Austria or Switzerland.
In the Cointracking review, all customers can find the tax rules that suit them. On the platform, the details for each individual tax return can be compiled with just a few clicks.
It does not matter whether capital gains, income or mining profits have to be declared for tax purposes. For all these options, the Cointracking review shows the appropriate function. If you have questions about the crypto tax calculator, just join our Investment4Insider Telegram group.
What features does the Cointracking review offer?
The Cointracking review describes it as a portfolio manager for crypto investors that offers a number of features. These include technical aggregation and graphical representation of all investments in a single account, the use of interactive charts to analyze investment opportunities, and customized portfolio reporting.
Additionally, Cointracking allows investors to follow the prices of all cryptocurrencies and tokens. The platform also offers another essential service that all crypto investors need to pay attention.
This is the proper representation and processing of crypto investments and profits in individual tax returns.
How does the tax declaration work on Cointracking review?
Since each country has its own tax legislation, a crypto tax calculator for tax returns of crypto investments must also be geared towards it. The Cointracking review shows you can choose from over 100 tax legislations.
Customized tax help with Cointracking review
Tax returns are sometimes quite simple, but sometimes very complex. The same is true for crypto investment taxation. For this reason, the crypto tax calculator Cointracking offers not only a technical service for preparing tax details. It also puts you in touch with tax advisors. In this way, crypto investors can be sure to always have a competent helper.
In each case you have to talk and clarify individually with your personal tax advisor after the Cointracking review. Cointracking can provide you with an overview and many people know how helpful this can be when they face thousands of transactions.
We are happy to show you how Blockchain and crypto projects can develop in the future and help you in building up and optimizing your portfolio in our Investment4Insider Telegram group.
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The content provided here does not constitute investment advice or investment brokerage. The experience reports are no invitation to trade, but reflect only the opinion of the author. All statements on returns and price developments refer only to the past and are absolutely non-binding. In the event that users of the site make investments based on the testimonials, they do so entirely at their own risk.