Coinley is a platform that helps users calculate and track their crypto tax liability. It allows users to connect their crypto wallets, exchanges, or blockchain addresses to automatically generate the information needed for their taxes. Coinley offers a simple dashboard to track portfolios and produce reports necessary for filing taxes in different countries. It can also calculate users’ cryptocurrency taxes and help reduce them for the next year. The platform also features a community section where users can learn about cryptocurrency taxation and discuss related matters. Coinley is user-friendly with a clean and simple interface, and signing up is free.
Coinly: The Easy Way to Track Your Crypto Tax Liability
Welcome back to Crypto Clear! I am your host Mia, and on this channel, I provide crypto project reviews, as well as blockchain and NFTs.
The Importance of Crypto Tax Liability
But what’s really important when you’re trading with crypto, you guys, is not to forget your tax liability. So, this is where Coinly comes to play, which is the project we’re reviewing today, and it’s super important that you guys know about this.
Coinly is the easiest way to calculate and track your crypto tax liability. With this platform, you can simply connect your crypto wallets, exchanges, or blockchain addresses to Coinly, and they will automatically generate the information that you need for your taxes. You’ll see that there’s a very simple dashboard to track your overall portfolio, and you can produce the reports that you need to file your taxes in your country. And best of all, you guys, it is free to sign up, so there’s really no reason not to give it a try.
The Benefits of Using Coinly
So, let’s dive in on the website to see exactly what they’re about. As it states here, it’s a crypto tax report in under 20 minutes. We all know that doing taxes is strenuous. It took me way longer than 20 minutes, so the fact that they could provide us with this platform is just great, and it’s gonna save us both time. It calculates your cryptocurrency taxes and helps you reduce them for next year, and it’s simple yet reliable. You’ll see that it’s also available in 20 countries. There’s free report reviews and Form 8949 from TurboTax.
How Coinly Works
Well, there are three steps. First of all, you easily import your trades, then you’re gonna preview your capital gains, so you’ll get a glimpse of your losses and profits for any tax year for free of course, and then you’re gonna be able to download your tax documents using the forms that will be provided for you for your country.
The Features of Coinly
Let’s talk about the features. You guys can see that there’s going to be portfolio tracking, so you can easily track your crypto assets and taxes with the data import system. All your transactions will be in one place, very neatly and efficiently, and here we have the crypto tax reports, so reliable crypto tax reports preview your capital gains and taxes for free, and generate your tax documents when you’re ready. If you’re filing in the US, Coinly can generate filled-in IRS taxes form for you, which is super cool, and then there’s international tax reports so Coinly supports USA, Canada, UK, Germany, Sweden, and a number of other countries.
There are even resources you guys, including blogs where the latest news and advice on cryptocurrency taxes. There’s tax guys where you can learn cryptocurrencies, there’s also tax guides which I find to be very useful because you can learn how your cryptocurrencies are taxed in your own country, and this is something that’s still fairly up-and-coming, so a lot of you guys might not know yet how the taxes are or how cryptocurrencies are working in your country, so there you have a guide and it’s regularly updated, and again, it is free.
Easy to Use Platform
You can also discuss and talk about cryptocurrency taxation with the rest of the community if you guys join, and then there’s also a help center. To learn how to set up, configure, and use Coinly to generate your taxes and track your portfolio, you can sign up by clicking the top button in the right corner at the of the website. And you can even continue with Coinbase, you can continue with Google, or you can create an account, but regardless, whatever method you use, it is fairly quick, easy, and simple. This whole platform is supposed to be user-friendly and be made to be used by literally anyone so this is why it’s crisp, it’s clean, and easy to go through.
Conclusion: Give Coinly a Try
So you guys, this is a short project review. It’s short and sweet, but it is very straightforward. It is where you can get your crypto tax report in literally under 20 minutes, okay? So, I personally strongly recommend Coinly for all of your crypto taxes. I think that it’s going to save you so much time and in the end, money as well because it is going to detect all those errors and give you an accurate statement. So, go join Coinly, join their community, and sign up for free, you guys. It is all free, so there’s literally no reason not to do it. It’s only gonna provide a benefit for your life. With that said, I’m going to catch you guys all on the next video. Bye for now!