Crypto.com is now launching free tax services that will diminish complications that people usually face when filing cryptocurrency taxes.
Crypto.com is a platform focused on digital currency and payments counting over 3 million users. The company was established in 2016 and is headquartered in Hong Kong. The services offered from Crypto.com to its users are in constant growth and improvement, making it a very popular platform. The tax service is expected to make life a lot easier for the firm’s users.
“We worked with professional tax advisers to ensure that the calculation logic is consistent with available guidance and laws for filing crypto taxes in Canada,” said the company.
According to a blog post, Crypto.com believes that this new tool will make it easier for everyone to file crypto taxes. Users will be able to import data regarding their transactions from supported exchanges via CSV files and their tax reports will be calculated and delivered to them in just a few minutes.
“This 100% free-of-charge service enables users to quickly generate accurate and organized crypto tax reports, including transaction history and records of capital gains and losses,” the company said.
This service will be only accessible in Canada for now, but the firm believes it won’t take long for them to provide the same facility to other countries as well.
This isn’t the first time Crypto.com has offered tax solutions to its users:
- In March 2020, in collaboration with CoinTracker, CryptoTrader.Tax, and TokenTax, the company launched tax preparation services. This gave users the possibility to export the balance of their Crypto.com wallet to tax services.
- In November 2020, in partnership with Cointracking.info, Crypto.com’s users were offered the option of paying the tax service through cryptocurrency.
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