Key Takeaways:
- Koinly is a fintech startup that automates cryptocurrency tax reporting.
- The platform integrates with all major blockchains and exchanges, simplifying the tax filing process for crypto traders.
- Based in London, Koinly was established in 2018 by Crispian Robinson, Maria Bilo, and Robin Singh.
- The company is set to revolutionise cryptocurrency tax reporting in the UK, significantly reducing workload, and increasing accuracy.
From the country that brought us the world’s first currency exchange, comes a potentially groundbreaking solution to a distinctly modern problem – the complexities of crypto tax reporting. Enter Koinly, a game-changing platform designed to automate tax reports for cryptocurrency trading. With the integration of all major blockchains and exchanges like Coinbase, Binance, Bittrex, and CEX.io, Koinly makes the daunting process of crypto tax reporting significantly simpler.
The platform was born out of the founding team’s own frustrations with the tedious manual calculations and technical difficulties involved in calculating gains on cryptocurrency transactions. Crispian Robinson, Maria Bilo, and Robin Singh launched the London-based startup in 2018 with a mission to streamline this process, making it as easy as possible for crypto traders to comply with tax obligations.
What sets Koinly apart from its competitors is the comprehensiveness of its services combined with the simplicity of use. The platform offers detailed capital gains reports, income reports, donation reports, gift and lost or stolen reports – all the necessary documents the modern crypto trader might require. The system also tracks every transaction and continuously informs users about their outstanding tax liabilities. This way, the platform provides an all-encompassing solution, where UK traders can calculate and file their crypto taxes with a few clicks.
Another distinctive feature is Koinly’s ability to integrate with over 300 crypto exchanges, wallets and blockchains. This level of connectivity ensures that users can maintain a consolidated view of their digital assets, irrespective of how they are dispersed across different platforms. This in-depth integration with other platforms brings an unparalleled ease of use to the traditionally laborious process of crypto tax reporting.
As more people explore the financial opportunities in the cryptocurrency world, platforms like Koinly are becoming increasingly crucial. Koinly is tackling a widespread and pressing need in the crypto community making it one to watch in the fintech industry. In the context of a financial world that is racing to keep up with digital advancements, Koinly is a beacon of agile, forward-thinking strategy.
In the increasingly complex future of digital finance, Koinly is poised to play a vital role in making cryptocurrency more accessible and manageable for all. This avant-garde tool is putting the UK at the forefront of crypto tax simplification globally, promising an easier, more efficient future for cryptocurrency traders. Stay in tune with Koinly’s ongoing development via their website here or follow them on Linkedin.
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