Taxes are hard enough, and your crypto assets add another layer of complexity. Look no further than US federal tax laws to uncover a myriad of confusing requirements. So, what does this mean for you?
If you’re a US resident, crypto trades and property transactions are one and the same. While this formally requires the accounting method be used, the inherent nature of crypto for the majority of traders.
As a result, most US traders and accountants use the alternative accounting method. In response to this widely accepted standard, we’ve ensured FIFO is fully supported on the Coqonut platform:
Your tax liabilities will be calculated with accuracy and ease — complete adherence to official methodologies is at the heart of Coqonut. If you need to retroactively calculate your gains or losses, no problem — Coqonut supports years 2014 through 2018.
Coqonut also allows you to export reports as Excel spreadsheets. This gives you the option of submitting additional information with your tax return as supporting documentation. Our Service Is Totally Secure and Easy to Use
There’s no denying that crypto comes with significant risks. This decentralized ecosystem receives consistent criticism for lacking and government oversight. In 2018 alone, a record from six exchanges as a result of hacks. This amount was more than double that taken from exchanges in 2017.
In response to these risks, we’ve built the Coqonut platform to put your security and confidentiality first. Rest assured, we’ll never ask for your exchange login credentials. Instead, Coqonut uses to communicate with your external wallets and exchanges.
This is a secure method that allows you to control, grant and revoke access on your own terms. Our platform offers an intuitive step-by-step process that makes it easy to import your information:
- Sign into your account on Exchanges and retrieve your API Key, with Read-Only permission only.
- On the Coqonut Dashboard, select “Add” and use the drop-down menu to choose the you’ll be importing from.
- Enter the API Key you retrieved and let Coqonut do the job for you!
- Repeat as necessary for each of your crypto accounts.
Coqonut will never have access to your crypto and cannot execute trades on your behalf. You’re merely giving us read-only access to your transaction history — nothing more. As mentioned, if you choose to revoke Coqonut’s access, it’s as easy as removing the associated API Key.
We Support Multiple Wallets, Exchanges, and Currencies
The Coqonut platform is highly immersive and seamlessly integrates with an impressive array of wallets and exchanges. Our platform currently supports the following integrations:
- Binance
- bitcoin Wallet
- Bitstamp
- Coinbase
- Coinbase Pro
- Ethereum Wallet
- Gemini
- Kraken
- Paymium
- Poloniex
Don’t see an exchange or you currently use? We’re always adding new partners and will continue to develop integrations based on user demand.
But that’s not all. As any crypto investor knows, there are seemingly countless crypto-assets to invest in. That’s why Coqonut supports every crypto asset you hold in your integrated or exchange. That’s right, all of your information, regardless of the , will seamlessly import to the Coqonut platform. How convenient is that?
Coqonut Is All You Need
Whether you’re a newcomer to the world of crypto or a frequent trader, Coqonut will save you valuable time and money. Each tool is guided by an intuitive, polished user interface that facilitates a truly immersive user experience.
But even more impressive than Coqonut’s usability is its inherent focus on security and confidentiality. Continued record-breaking exchange hacks further prove that security is more important than ever in the crypto ecosystem. By using API Keys, Coqonut gives you complete control of your crypto-account integrations. This off-chain approach to data collection ensures that only your transactions are accessible, not your funds.
And no matter what crypto-assets you hold, Coqonut will securely and seamlessly import all of your and exchange activity. Coqonut’s powerful tools and streamlined interface ensure your tax liabilities are calculated easily, safely, and in complete compliance. Are you ready to take control of your crypto taxes?
Published at Mon, 18 Mar 2019 12:00:15 +0000
