CryptoTax launches API platform for exchanges and other cryptocurrency service providers

CryptoTax launches API platform for exchanges and other cryptocurrency service providers

We are excited to announce the release of our professional CryptoTax API, which allows institutions to easily build their own approved white label tax solution. It is a major step in making crypto tax solutions easily accessible for exchanges, banks, funds and other institutions dealing with blockchain-based assets. Utilizing the API our clients get access to our unique tax engine with tax frameworks approved by a Big 4 accounting firm.

Expectations of crypto investors are changing rapidly, as the space matures and the competition becomes more intensive. They increasingly request the same level of convenience as they are used to from the traditional finance sector. Until now crypto investors are left alone with their obligation to file their taxes and the best they can get from a crypto exchange is a non-comprehensible CSV export. Given that CryptoTax sits at the epicenter of tax reporting for digital assets, we recognize the need to serve as a tax reporting platform for cryptocurrency service providers. With the launch of our CryptoTax API we make it easy for exchanges and other institutions to create tax reports for their customer and relief them from the reporting nightmare.

says Vladimir Tosovic, COO and Co-Founder of CryptoTax.

Features

In the first version our clients can use the API to generate approved tax reports for Germany, Switzerland and the US (coming soon). Furthermore, they can generate generic tax reports for any country in 30+ supported local currencies. We partner with a Big 4 accounting firm to continuously expand the number of jurisdictions, for which we can generate country-specific tax reports.

Our tax engine supports all transactions types in the crypto space and includes Airdrops, ICOs, Hard Forks, OTC Trades, Lending, Staking, Masternodes, Bounties, Swaps, Gifts and Margin Trading.

Whatever transaction is taking place our customers can easily create a tax report by simply calling our API.

You can find the full documentation on the API here.

Outlook

We aim to continuously grow and empower our tax engine and make it easy to access through the API. Besides expanding the geographical coverage of the country-specific tax reports we are working on solving additional tax reporting challenges of our institutional customers. One of them is the reporting of withholding taxes as well as FATCA and CRS, which looms over many crypto service providers.

Free Sandbox Access

Being the first crypto tax API provider we acknowledge the need to continuously develop and improve our service. Part of this effort is the invitation to access our sandbox tax API for free.

In order to get your sandbox API account please send a request to [email protected]

Resources

CryptoTax API documentation: https://api-docs.cryptotax.io

Demo CryptoTax API on Github: https://github.com/cryptotax-team/cryptotax-api-demo

Get free sandbox API access: [email protected]

We are looking forward to have your feedback on our API and hope to contribute to the developing crypto space by making tax reporting obligations easier for everyone!

 

CryptoTax International Launch

CryptoTax International Launch

We have launched CryptoTax International to make tax reporting easier for the users in any country of the world!

So far CryptoTax was available for the taxpayers in Germany and Switzerland as a country-specific crypto tax reporting solution developed and certified by one of the Big 4 accounting firms. However we see a need for tax reporting in other countries, where we do not offer country specific tax reporting yet. Therefore we have launched a comprehensive tax reporting solution for the users in any country in the world!

The best is that we offer FREE Early Access to CryptoTax International, for which you can sign-up here.

Tax reports

Our goal is to assist our users in all situations arising from any activity related to cryptos. Hence our solution covers every transaction you could have as a crypto investor, trader or user:

  • Airdrop
  • Bounty
  • Gift
  • Hard Fork
  • ICO
  • Lending
  • Margin Trading
  • Masternode
  • OTC buy / sell
  • Spending for Product / Service
  • Staking
  • Swap

What you get is a comprehensive set of reports with categorized summaries and transaction statements.

You can find an example of the report here.

Data import

We feel the pain in getting in all the data, trading is much more fun than tracking, right? Hence we make the import process as easy as possible, while preserving high data quality required for tax reporting.

With CryptoTax you can directly import your data from 20+ exchanges including:

  • Binance
  • Bitcoin.de
  • Bitfinex
  • BitMEX
  • Bitpanda
  • Bittrex
  • Bitcoin Wallets
  • Coinbase
  • Coinbase Pro
  • Cointracking
  • Ethereum Wallets
  • EtherDelta/ForkDelta
  • Kraken
  • Poloniex
  • and more…

We also continuously add new exchanges and you can use our template to add transactions from any source.

Report in your local currency

We partner with CoinMarketCap to provide the most comprehensive and reliable set of exchange rates for 8.000+ crypto assets.

CryptoTax also support 30+ fiat currencies for automated conversion and reporting in your local currency:

Australia AUD Australian Dollar
Austria EUR Euro
Belgium EUR Euro
Brazil BRL Brazilian Real
Canada CAD Canadian Dollar
Chile CLP Chilean Peso
China CNY Chinese Yuan
Cyprus EUR Euro
Czech Republic CZK Czech Koruna
Denmark DKK Danish Krone
Estonia EUR Euro
Finland EUR Euro
France EUR Euro
Greece EUR Euro
Hong Kong HKD Hong Kong Dollar
Hungary HUF Hungarian Forint
India INR Indian Rupee
Indonesia IDR Indonesian Rupiah
Ireland EUR Euro
Israel ILS Israeli New Shekel
Italy EUR Euro
Japan JPY Japanese Yen
Latvia EUR Euro
Lithuania EUR Euro
Luxembourg EUR Euro
Malaysia MYR Malaysian Ringgit
Malta EUR Euro
Mexico MXN Mexican Peso
Netherlands EUR Euro
New Zealand NZD New Zealand Dollar
Norway NOK Norwegian Krone
Pakistan PKR Pakistani Rupee
Philippines PHP Philippine Peso
Poland PLN Polish Zloty
Portugal EUR Euro
Russia RUB Russian Ruble
Singapore SGD Singapore Dollar
Slovakia EUR Euro
Slovenia EUR Euro
South Africa ZAR South African Rand
South Korea KRW South Korean Won
Spain EUR Euro
Sweden SEK Swedish Krona
Taiwan TWD New Taiwan Dollar
Thailand THB Thai Baht
Turkey TRY Turkish Lira
United Kingdom GBP Pound Sterling
United States USD US Dollar

 

Our goal is to make the tax reporting of cryptos easy and let you focus on things that make more fun!

Sign-up here to join our FREE Early Access Program!

Your CryptoTax Team

Launch of CryptoTax USA and CryptoTax International

Launch of CryptoTax USA and CryptoTax International

We are very happy to announce that we are working on the launch of the following products:

  • CryptoTax USA: country-specific tax reporting for US taxpayers
  • CryptoTax International: generic tax reporting for users in all countries, we do not offer country-specific reporting yet

Initially started as a crypto tax reporting tool for German residents, we have recently added Swiss tax reporting. We keep on building and are working on a solution for the US now. As with the German and Swiss tax reports, our US tax reporting solution is developed and approved by one of the Big 4 accounting firms. Our goal is to assist our users in all situations arising from any activity related to cryptos. Hence our US solution will also cover every transaction you could have as a crypto investor, trader or user:

  • Airdrops
  • ICOs
  • Forks
  • OTC Trading
  • Lending
  • Staking
  • Masternodes
  • Bounties
  • Swaps
  • Gifts
  • Margin Trading

You can import data from 20+ exchanges and wallets and we continuously add import possibilities. We support 8.000+ coins and tokens and partner with CoinMarketCap to provide the most reliable exchange rates for your tax reports.

If you need to report taxes in other countries than the US, Germany or Switzerland, make use of our international tax reporting service. Here you will get an elaborate report showing your holdings, profit and losses and income generated from your various crypto activities.

We want to reward our first users and will be offering FREE tax reports both for CryptoTax US and International to the users participating in our early access program. If you want to participate in the early access program register here:

Let us make the reporting of cryptos easy and let you focus on things that make more fun!

Your CryptoTax Team

Partnership with CoinMarketCap continues to ensure highest data quality for CryptoTax solutions

Partnership with CoinMarketCap continues to ensure highest data quality for CryptoTax solutions

A reliable data base is indispensable for the accurate evaluation in tax and accounting fields. We recognized early that our exchange rates database, as an essential component of our solution suite, plays a decisive role. Especially in the environment of cryptocurrencies, the availability of qualitative data material and reputable data providers represents a difficult challenge for all data-driven services.

We are therefore very pleased to announce CoinMarketCap – the world’s leading data supplier of crypto-market data – as a cooperation partner for our product portfolio. Their professional API service provides the historical as well as daily updated price data available in our web application cryptotax.io/plugin-update. This enables us to further ensure that, in addition to the tax framework certified by one of the Big 4 accounting firms, the quantitative recording of transaction data also corresponds to the highest possible market standard and that we can further differentiate ourselves from competitors.

Since it is our highest goal to provide our clients with legally and economically correct and certified reporting and tracking solutions, we are pleased to have CoinMarketCap, another market leader in its special field, on board as our partner.

“This is an important step towards helping crypto traders to become tax compliant,”

said Klaus Himmer, CEO & co-founder of CryptoTax,

“We continue to differentiate by providing high quality and reliable tax tracking and reporting services. The long-standing experience of market data leader CoinMarketCap helps us to foster the fundamental value of our services, and I am confident that this partnership is an essential driver for the establishment of crypto assets as an aspiring asset class.”

We look forward to our cooperation!

Update on our team

Update on our team

 Dominic Phillips - CTO at CryptoTax

Our team is growing fast and we are really happy to welcome Dominic Phillips who is doing a fantastic job as CTO. Dominic worked on many award-winning products serving millions of customers in both Europe and the US. He is founder of several venture and angel-backed startups and has been involved in multi-million dollar funding rounds in the tech space.

Robert Goeritzer - Senior Developer at CryptoTax

We are also very excited about Robert Göritzer joining our team as Senior Developer. Robert has several years of experience as Senior Software Engineer and Full Stack Developer and is a true enrichment of our developers team.

Dr. Stephan Karpischek - Blockchain Advisor at CryptoTax

Also we are very happy to have Dr. Stephan Karpischek as our advisor on board and to benefit from his extensive knowledge and experience as a co-founder of the blockchain-based insurance platform Etherisc.