Web3 is a volatile space with extensive potential wherein a lot of businesses implement its use cases in various ways while trying to keep up with technological progress. As the crypto space is gearing up for mass adoption, a lot of new users join the space. These users need to be educated and made aware of the various crypto-taxing laws set in place around the world. This stands true regardless of whether the trader made profits or losses on their trades, the tax agencies need a record of the trades, and this is where Cryptiony comes to the rescue of its users.
Recently, the platform launched in the UK and aims to tap into the 4.2 million crypto userbase thereby offering precise calculations and no data gap along with attractive prices. Fast synchronizations with crypto exchanges and blockchains along with experts ready for support also add to the appeal of the platform.
What is Cryptiony?
The Cryptiony platform works as a crypto tax automation web app that has been designed for tax professionals and individuals making the process of crypto taxing easy and quick. The platform was founded in 2021 and works with the mission of making cryptocurrency tax calculations easy, fast and cheap for everyone alike be it professional traders, beginners, or accountants through the use of automation and encryption processes that make crypto compliance stressless.
As there is no set standard or protocol for Web3 exchange data, the platform works on integrating with every exchange and blockchain individually. Additionally, as the space is new and all countries are working on their own laws and regulations pertaining to crypto, Cryptiony also faces the challenge of considering them and adapting their solution to them.
For users who use multiple platforms and blockchains, it can be difficult to track all their assets and the history of their transactions. Adding to that the complex capital gains rules and crypto tax for each of them, users can get overwhelmed and it can seem impossible to keep up with everything without an automated tool.
Ease of use and affordable pricing
Users can avail the benefits of Cryptiony in 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 their tax report and download it instantly.
One of the most distinct features that the platform offers is unbeatable pricing with up to 500 transactions in the UK for free. Cryptiony’s pricing model is based on annual subscription fees where each plan depends upon the number of crypto transactions performed by the user.
Conclusion
The Cryptiony platform was recognized as the ‘Startup of the year 2021’ during Invest Cuffs 2022, one of Europe’s largest trade fairs that brings together investment market industries like stocks, currencies, real estate, cryptocurrencies, and crowdfunding. It was also a part of the Top 3 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 pitch competition.
The platform is headed by Bartosz Milczarek and Krzysztof Dworakowski is the CTO, while Hanna Milczarek is its CMO. Bartosz and Krzysztof are crypto enthusiasts with more than 10 years of experience in banking, forex brokers, and the blockchain industry. Hanna Milczarek on the other hand comes from a corporate background relating 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 complicated calculations that can be time-consuming and cumbersome to deal with.
The platform’s launch in the UK is key in supporting the users there in calculating the profit/loss that needs to be done for every individual disposal including activities like crypto-to-crypto trades and purchases, not just cashing out crypto for fiat.
For more information on Cryptiony, please check out their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.
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Anjali Sriniwasan