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Cryptiony was established to help solve one of the most fundamental challenges in the digital currency sector – filing tax reports.
The bigger the crypto ecosystem, the more tax authorities in different jurisdictions will require active players to file their tax reports. While many countries have not gotten to the level at which they enforce their own tax rules, the United Kingdom is a notable exception. Taxes are not just mandatory in the country, it is a criminal offense to evade crypto taxes or file its report either for losses or profits made.
Herein lies the complications, filing tax reports is a somewhat new requirement from regulators, one which most accounting agencies are not adequately equipped to handle. This has paved the way for innovative crypto tax automation platforms among which is Cryptiony.
Cryptiony was established to help solve one of the most fundamental challenges in the digital currency sector – filing tax reports. Filing crypto tax returns is a very complicated affair as there is no guiding standard governing this aspect of the industry yet. With thousands of crypto exchanges now in the market for the growing number of crypto investors to choose from, the strain in computing crypto tax reports from this platform is so enormous.
Cryptiony resolves this with its crypto tax automation web application for individuals and tax professionals. The platform is driven by the mission to enable easy cryptocurrency tax calculation, fostering cheap and fast computations for beginners, professional traders, and accountants by using automation and encryption processes to make crypto tax compliance stressless.
The design of the Cryptiony platform will not just help every user of its crypto tax automation tool comply with extant regulations, but it will help place the broader industry in very good standing with authorities around the world. This assumption is based on the fact that the easier it is for regulators to track the crypto market for taxation and other purposes, the more comfortable they will be in enabling innovations in the industry to thrive.
The Cryptiony Advantage in Crypto Tax Filing
Cryptiony offers a lot of advantages to people adopting it to file their tax reports, especially in the UK. To begin with, the platform offers free tax report filing for up to 500 transactions, and its charges are friendly, and based on an annual subscription model.
Cryptiony offers the same model as other known crypto tax protocols but it is designed as a more user-friendly alternative with quick synchronizations with the exchanges, it is more convenient and quick.
The Cryptiony platform is the brainwork of Bartosz Milczarek serving as the platform’s Chief Executive Officer, Krzysztof Dworakowski serving as the CTO, and Hanna Milczarek who is the CMO. Each of these veterans has decades of experience building automation solutions in the digital and tech world and they decided to turn their passion into a business that morphed into Cryptiony.
Though cryptocurrency tax computations can be complicated and costly, the use of the Cryptiony app comes off as one easy getaway for crypto traders, investors, and accounting professionals alike.