• Cryptiony is a tool that helps with cryptocurrency taxes.
• It automates the process of calculating profits made in cryptocurrency investments by going through buy and sell commands.
• The tool is especially useful for active traders who have a lot of transactions to calculate.
Trading and investing in cryptocurrency has become an increasingly popular activity over the past couple of years, resulting in the largest bull market in the industry’s relatively short history. As a result, many people have made a profit in 2021 and, though the market showed signs of decline in 2022, many people still made gains. However, with these profits come certain responsibilities, namely paying taxes.
Calculating cryptocurrency profits for tax purposes can be a daunting task, especially for active traders who have dozens of buy and sell orders. Fortunately, there is a tool that automates this process. Cryptiony is a cryptocurrency tax calculator that helps traders and investors easily calculate their profits and losses for tax purposes.
Cryptiony automates the process of calculating profits by going through all buy and sell orders and compiling the data into a single report. It also takes into account any fees associated with transactions, such as commissions or withdrawal fees. The tool is especially useful for active traders who have a lot of transactions to calculate.
Cryptiony also offers a suite of other features, including the ability to export data to popular tax filing software and a portfolio tracker that provides users with an overview of their holdings. The tool also supports multiple exchanges and currencies, allowing users to switch between them as needed.
In addition, Cryptiony offers a secure and user-friendly interface. Users can access the tool from any device, and all data is stored securely and encrypted. This helps to ensure that users’ data is safe, and that their information is not shared with any third parties.
Overall, Cryptiony is an excellent tool for those who need to calculate their cryptocurrency profits for tax purposes. It takes the hassle out of the process and ensures that users have an accurate and up-to-date report of their profits and losses. It also offers a suite of other features that make it a valuable tool for cryptocurrency traders and investors.