Best crypto tax software every investor should be aware of
Cryptocurrency has been making headlines since 2009. Bitcoin became the first cryptocurrency to enter the global market. The launch price of Bitcoin was $1 per coin. Today, the same coin trades at $35k per token.
Along with price increases, the global currency market has also expanded. The total market volume of cryptocurrency is more than $3 trillion. furthermore, learn more here about where crypto is increasing and revolutionizing in terms of technology.
Expansion beyond cryptos
This is a true statement. The growth has not just been about the cryptocurrency market. Along with cryptos, its allied products also saw an expansion. Blockchain technology is an interesting product. There is much research and development in this domain today. Additionally, many products and services are also using blockchain technology for their innovation.
Growth of crypto by-products
With cryptocurrency taking over the global market other industries also grew. There are crypto exchanges across the globe that allow for crypto trading. Every cryptocurrency takes its position in crypto exchanges. Investors can pick their required quantity depending on the type of exchange. These crypto exchanges also have their linkage to domestic currencies. It allows for easy buying and selling of cryptos.
Another product that had its share of the increase is the crypto tax calculator software. Many countries have shown their interest in this investment model. Countries have also imposed tax regimens on it.
Crypto tax calculator
Cryptos by itself is a confusing investment model. Taxes on these can be extra confusing. This is when a crypto tax calculator can come to aid.
Listed below are a few tax calculators for use by investors.
It is one of the best crypto tax calculators in the market today. A simple, and easy-to-use platform. The software will keep complete track of your transactions including profits and losses. It is programmed to calculate eligible tax returns based on capital gains. ZenLedger also supports more than 300+ exchanges thereby making it a global product. No matter the currency used for investment, this software provides accurate information.
ZenLedger is a free tool and allows users to undertake free transactions. Beyond 25 transactions, you need to buy the software to use it. The tool also uses a two-way authentication process. Every user data is secure and transactions are private.
Compared to Zenledger, it is a super-fast platform supporting tax computations. Every user transaction and filing process is complete in less than 20 minutes. The software is now listed and used in more than 20 countries. The tool also gives its users some tax-saving tips thereby making investments easier.
Taxbit is one tool in the crypto investment industry catering to the needs of any type of investment. Ranging from institutions to individuals, the tool has features to manage your investments. The development team of this software includes CPAs and tax agents. It gives the best assurance in the market along with compliance with data security as well. The tool also integrates with other native platforms as used by other organizations. The development team also includes a pool of separate sets of resources. These resources manage individual and institution needs managing every type of digital investment.
If you are looking at a tax software with an audit trail to it, then Bitcoin taxes is the best bet. The development team and pool of experts help you with clearing your tax dues. The tool also provides you with support for starting other investment schemes. The software can handle complicated crypto transactions. There is no data loss and also provides compliance with data security requirements.
This is one of the most widely accepted crypto tax software in the industry. The software can track a complete record of profits and losses. The software also provides a dashboard view of your investments and gains from each coin. The tool currently has active users of more than 1100K. The total portfolio is worth more than $42 billion. The tool is compatible with 14 different tax computation methodologies. The software also works in more than 100 countries.
The tool also calculates the tax computation thereby providing better returns on investment. All crypto tax software available in the market is safe and user-friendly. It differs from the others in transaction security, data security, and privacy.