Crypto taxes made easy with Cryptiony

Web3 is a volatile space with great potential as many companies implement their use cases in different ways while trying to keep up with technological developments. As the crypto space prepares for mass adoption, many new users are joining the space. These users need to be educated and aware of the different crypto tax laws that apply around the world. This applies regardless of whether the trader made profits or losses on his trades, and the tax authorities need a record of the trades, which is here encryption comes to the rescue of its users.

Recently launched in the UK, the platform aims to leverage the 4.2 million crypto user base, thus offering accurate calculations and no data gap along with attractive prices. Fast synchronization with cryptocurrency and blockchain exchanges along with experts ready to support also add to the appeal of the platform.

What is encryption?

Designed for tax professionals and individuals, the Cryptiony platform is a crypto tax automation web application that makes the process of crypto taxes easy and fast. Founded in 2021, the platform works with the mission of making cryptocurrency tax calculations easy, fast, and cheap for everyone, be it professional traders, beginners, or accountants through the use of automation and cryptographic processes that make crypto compliance stress-free.

Since there is no fixed standard or protocol for Web3 exchange data, the platform works by integrating with each exchange and blockchain individually. Moreover, as the space is new and each country operates with its own crypto-related laws and regulations, Cryptiony also faces the challenge of considering it and adapting its solution to it.

For users who use multiple platforms and blockchains, it can be difficult to keep track of all their assets and transaction history. On top of that, complicated capital gains rules and crypto tax for each one, users can get overwhelmed and it might seem impossible to keep up with everything without an automated tool.

Ease of use and reasonable prices

Users can take advantage of Cryptiony’s benefits in just a few simple steps. They just need to create an account with their email address and then they can import and review their transactions, that’s it! They can then generate and download their tax report instantly.

One of the most distinctive features offered by the platform is the unbeatable pricing with up to 500 UK transactions free of charge. Cryptiony’s pricing model is based on annual subscription fees with each plan based on the number of crypto transactions a user makes.

conclusion

The Cryptiony platform was named “Startup of the Year 2021” during Invest Cuffs 2022, one of the largest exhibitions in Europe that brings together investment market industries such as stocks, currencies, real estate, cryptocurrency and crowdfunding. It was also part of the top three winners during the Fintech Summit in Poland and the winner of the Audience Award. During the Reach4.biz meetup, Cryptiony won the Blockchain Innovations Chains Competition.

The platform is led by Bartosz Melczarek, Christoph Durakovski is CTO, while Hanna Melczarek is Chief Marketing Officer. Bartosz and Krzysztof are cryptocurrency enthusiasts with over 10 years of experience in banking, forex, and the blockchain industry. On the other hand, Hanna Milczarek comes from a business background related to finance and accounting in the IT sector. As mentioned earlier, the Cryptiony platform looks to help users by providing them with tax reports and other complex calculations that can be time consuming and cumbersome to manage.

The launch of the platform in the UK is key to supporting users there in the profit/loss calculation that needs to be made for each individual disposal, including activities such as crypto-to-crypto purchases and trades, not just cryptocurrency vs. cryptocurrency. withdrawals.

For more information about encryptionCheck out their official website.

Disclaimer: This is a paid post and should not be taken as news/advice.

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