Cryptiony: crypto tax made easy

Cryptiony: crypto tax made easy

Trade and the investment in cryptocurrency has become very popular in recent years. It also led to the largest bull market in the relatively short history of the industry.

That also means that many people made profits in 2021 and despite the much worse market conditions.

But as the old saying says - there are two things in life and one of them is taxes. Cryptocurrency gains are taxed in most jurisdiction. Due to the functioning of most cryptocurrency exchanges, it can be quite difficult to calculate your profits.

This applies in particular to users who actively act and have to go through a lot of purchase and sales commands to ensure that their calculations are correct.

what is cryptony?

Cryptiony is a control tool for cryptocurrencies, calculations, reports and also portfolio management. It is easy to integrate into the leading crypto exchanges and does the whole work for you.

The use is also quite simple. First of all, users must create an account by registering with their email address.

As soon as this is done, you must import and check your transactions. This is much easier than it sounds because each exchange provides a writing-protected API or an exported CSV that enables you to connect your blockchain walls via public reception addresses. Although the tool does an excellent job, it is of course important to check whether everything has been imported correctly.

As soon as all the steps mentioned above are done, users can create a tax report and forget it immediately.

Essentially, the characteristics of Cryptiony can be summarized as follows:

Import the transactions of first -class stock exchanges
You will receive complete and precise information

The application was developed to calculate tax liabilities from historical cash prices. This means that if you have tax deductible costs from previous years, you must enter them in the application and you will be taken into account in the following years.

The application uses exchange rates provided by the National Bank of England. Transactions with common currencies such as EUR, USD, GBP and others are correctly converted.

What are the supported stock exchanges?

Cryptiony supports a number of different exchanges, including:

• bony
• Kucoin
• Coinbase and Coinbase Pro
• crypto.com
  kanga exchange
• Krake
  BISTAMP
• Bitfinex

It also supports Zonda and Revolut.

To go one step further, the stock exchange also supports integrations with the most popular peer-to-peer trading platform for cryptocurrencies-localbitcoins.

If you have problems finding your stock exchange, this is also not a problem. All you have to do is download the transaction files in CSV or Excel format from the stock exchange and import it into the Cryptiony platform.