Primexbt blog – Share news about trading and cryptocurrencies

According to primexbt in an article on April 1, CoinTracker, a cryptocurrency portfolio management and tax calculation platform, has announced that it has surpassed 100,000 users, and has recently signed a partnership with six new partners. These are Casa, Compound, Crypto.com, ErisX, IDEX and Lolli; while maintaining existing agreements with Coinbase and Turbotax.

This partnership has brought a lot of convenience to users such as: Casa users have access to multi-signature security; users of Crypto.com have the right to declare ownership of cryptocurrencies with regulatory authorities; ErisX users can now share their CoinTracker profiles with tax professionals without emailing as before; and Lolli users have the right to import transaction history CSV directly into CoinTracker

See more: Why is Bitcoin $5,800 the last stop of the bulls?

Growth in the context of global crisis

Chandan Lodha, co-founder of CoinTracker, shared that the company’s recent growth was affected by the market turmoil caused by the COVID-19 pandemic. However, he remains optimistic about the future:

“What we have seen unique to crypto, is an increase in retail demand by new users. This further requires crypto platforms to have tax compliance solutions for their users. That’s why our partnership with partners like Casa, Coinbase, Compound, Crypto.com, ErisX, IDEX, Lolli and Turbo makes crypto simpler.”

Cryptocurrency Tax Made Simple

He admits there is a lot of skepticism surrounding the legitimacy of cryptocurrencies, however he said services like CoinTracker help prove the credibility of the industry:

“As more users and regulators see that the majority of cryptocurrency usage is for perfectly legitimate transactions every day and everyone is tax compliant, this increases trust and legitimacy. legislation of the entire crypto industry.”

IRS Defers Tax Payment

Earlier this month, the US Treasury Department, allowed individuals and non-corporate entities to defer their tax payments for three months without penalty or interest.