Koinly Review: How This Tax Software Works

Koinly is a cryptocurrency-specific tax reporting program that can assist you in determining your taxable income and identifying potential tax deductions and credits. Every month, new cryptocurrency rules and regulations are being introduced. So, it’s crucial to ensure you have some backup when meeting your crypto tax duties.

Koinly is a piece of software that can create a full tax report for your crypto holdings in just 20 minutes, and it can do so for customers in over 20 different countries. Users can input their exchange trades to do fully automated tax computations; capital gains taxes can be computed at any time throughout the fiscal year.

Continue reading this Koinly review to learn more about how it works!

Features

Koinly does not offer many specialized options that appeal to a narrow subset of the crypto community. Instead, Koinly has concentrated on making its platform accessible to as many people as possible who utilize bitcoin and other cryptocurrencies.

Koinly serves customers in over 20 countries; however, it is headquartered in California. Countless nations worldwide are on the list of those who can use it, including those in Europe, Asia, and the Americas.

Koinly has complete support for cryptocurrency exchanges and wallets and vast support for diverse countries. Additionally, it now works with over 6,000 distinct digital currencies. Koinly also supports automated transaction history import from more than 350 bitcoin exchanges.

Using a cryptocurrency portfolio tracker like Blockfolio, Koinly can import your data directly from that app, making it even simpler to calculate your tax liability.
Methods for Creating a Koinly Account
With Koinly, you can get started in a matter of minutes. To sign up for Koinly, visit the site and click the “Sign Up” button in the upper right corner of the screen.

After that, an enrollment form will appear for you to fill out. Notably, if you already have an account with Coinbase or Google, you may skip most of the signup steps. If you prefer, you can always use the tried-and-true method of signing up using an email address.

After getting through that introductory screen, you’ll be able to enter more specific information about your location and the currency you’d like the app to default to. The more information you provide, the more Koinly can automate the process of filing taxes on your cryptocurrency holdings.
Benefits and Drawbacks of Koinly

You should consider the pros and cons of using Koinly just like any other piece of software.

 

Here’s a short video about Koinly software

 

Benefits

One of Koinly’s biggest features is that, unlike Taxbit and Accounting, it includes Schedule D in tax reports, which is essential for creating your IRS Form 8949. This comprehensive tax management system also accepts cryptocurrency payments, setting it apart from the competition.

Koinly accepts various payment methods, including cryptocurrency exchanges like USDC, BTC, ETH, and DAI, and traditional methods like credit cards and debit cards.

Generally, Koinly provides full cryptocurrency support, letting you monitor transactions for over 6,000 coins, including Bitcoin, Dogecoin, and Ethereum. Koinly also has a share access option that allows you to set up a tax team and give your tax agent or accountant access to your Koinly account.

Drawbacks

There are a few restrictions in Koinly as well. To begin with, if you choose to add your NFTs manually, Koinly will not sync them or keep track of them automatically. There is a mobile app. However, the Koinly applications for iOS and Android are not quite ready for prime time yet. To use this tax management system to its full potential, you will need access to a computer.

Last but not least, Koinly cannot produce alternative cryptocurrency tax documentation. For example, if you lend crypto or run a business, you’ll need to manually fill out IRS tax documents like Schedule 1 and Schedule C.…

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BullionByPost Review 2022 – Is It Genuine Or A Scam?

Since its founding in 2009, BullionByPost (BBP) has served as a source of services for the precious metals market. Bullion and coins made of valuable metals are both bought and sold by the business. All sorts of services are available from them. Of course, customers can invest in metal or buy and sell through the firm.

 

Additionally, customers can transact with BullionByPost via the internet or by phone. They also act as brokers for larger transactions. Metal prices are determined by adding a premium to the spot rates price to cover production, transport, and insurance.

 

This review will discuss BullionByPost. Continue reading to learn more about the company.

BullionByPost Prices

Prices at BullionByPost are significantly more than those offered by other companies. Silver Britain coins have a margin of 16 percentage points compared to the pricing offered by other firms, making them more expensive. In addition, the prices of Gold Britain coins are 5 percent more than the ones offered by rivals.

 

Customers are frequently taken advantage of by hidden fees, and some are unaware of it. There are no covert fees associated with purchasing from BullionByPost. On the webpage, all prices are itemized, and the amount you spend matches what was described initially. Customers are notified of any price changes before completing the payment process.

BullionByPost Payment Method

Since BBP offers the most reliable payment methods, there is no need for you to be concerned about the security of the transactions. 

 

Debit cards, credit cards, and money transfers are the payment methods that users can utilize. Of course, your financial transactions and private details are protected from prying eyes and safeguarded. It is also simple to send and collect payments for your goods and services.

BullionByPost Advantages

BullionByPost offers several benefits that it can provide for its customers. As a user, it is essential to know the advantages it offers.

 

  • The firm maintains consistent pricing
  • Signing up for an account is simple and takes very little time
  • You may get your metal delivered to your home quickly
  • Extremely dependable in the UK and throughout Europe
  • Easier to navigate the web page
  • Strong backup and support crew
  • Purchase of the bundle
  • Simple payment options

BullionByPost Disadvantages

BullionByPost also has several shortcomings for its customers, which are areas that still require development.

 

  • There are only a handful of goods to choose from
  • Excessive costs
  • Constraints imposed by geography
  • Extremely unhappy customers
  • In other words, the firm has not made any moves to support new or digital currencies
  • Problems exist among their customer service crew
  • An IRA service is not required of the firm

Countries BullionByPost Serves

In the United Kingdom, BBP is regarded as the most reliable vendor. Additionally, the corporation has operations in several other countries across Europe. 

 

The most important nations in this group are France, Austria, Sweden, Spain, Belgium, and Croatia. Other nations that are not members of the European Union can also be supplied, but the terms and circumstances will be varied.

 

This is very helpful review of BullionByPost;

 

Delivery Methods

The items sold by Bullion By Post are shipped out by either the Royal Mail or UPS. Neither UPS nor its customers have ever received a single complaint. The service is reliable, with punctual deliveries every time. Several consumers have complained about Royal Mail’s absence of ID checks or delivery signatures.

 

The delivery mechanism utilized by BullionByPost is unparalleled. Typically, the business will ship the item the following business day. Many clients want a 24-hour turnaround time, and BBP has you covered. When there are delays, the organization communicates with clients promptly. As an added convenience, customers can even deliver some orders the same business day they were placed.

Frequently Ask Questions (FAQs)

Regarding BullionByPost, the following are a few of the most commonly asked questions.

Is BullionByPost a fraud?

BBP is not a hoax. The firm is legitimate, as evidenced by its mailing address and legitimate management. Birmingham, UK, is home to BullionByPost’s main office. The company has been in operation for 12 years under the ownership of Jewellery Quarter Bullion Limited.

 

Company legitimacy was bolstered by the fact that it is a Royal Mint authorized distributor. You can also learn if it is legitimate or not by looking at how other reputable websites rate it. For instance, BBP has a 4/5 Trustpilot rating. 

How does BBP take care of shipping?

The shipping policies offered by BullionByPost are a major selling point for the company. Additionally, delivery to any country in the European Union is on the house. The organization offers shipment insurance as an added peace of mind.

Can you keep your metals in the company’s storage?

Once you’ve purchased metal from BullionByPost, you may keep it in their vault until you’re ready to sell. The warehouses are locked, so your merchandise is safe at all times. However, a monthly storage cost of £10 is required.

 

That’s all we have to say about BullionByPost. WHy not read our Koinly review next?…

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What Is A Launchpad In The Crypto World, And How To Develop It?

A few years ago, investing directly in a crypto project was impossible. For this, you needed the presence of a third party, which could be expensive and late. It was a process that required a lot of research time and understanding of the product by the user. One had to read the white paper, understand the product, see if the team was competent, etc. And even then, it was easy to fall for some kind of scam. 

History Of Investment In Crypto Projects

Lines above, we remember the following reflection. A few years ago, investing directly in a crypto project was impossible. The barriers to investing were many: 

For these and other reasons, although many people wanted to invest in crypto projects, they encountered many difficulties. With the arrival of the launchpad, investors from all over the world could invest in a wide variety of crypto projects, in a safe and regulated way, with access to quality information, risk management, and a broad investor base. 

Since then, Launchpad has been the basis for the launch of many successful projects, such as Binance Coin (BNB), Fetch.AI (FET), Celer Network (CELR), and BitTorrent (BTT), among others. 

Invest In Crypto Project

Over time, that is changing. And let it continue. Thanks to tools like the crypto launchpads, investments can be made quickly and easily, allowing more people to invest in crypto projects. 

If you want to know in great detail what a launchpad is and how to develop it, stay in today’s article.

What Is A Launch Pad? The Concept

A launchpad is a platform that allows users to invest in a crypto project in the early stages of its development. In most cases, investors receive tokens of the cryptocurrency being issued in exchange for their investments. 

Launchpads have become extremely popular in the crypto world in recent years, but none of this is by chance. We owe their success to their ability to enable investors to make significant profits by investing in projects with potential. However, there is also the risk of losing the entire investment if the project fails to meet expectations.

Now, if you’re wondering how something as novel as a blockchain-based project can raise the necessary capital while providing access to early-stage token sales for a certain group of investors, the launchpad is the answer. 

Read our popular content next including our Koinly Review.

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How Should I Create A Crypto ICO?

It doesn’t matter if you are a programmer or not; you can also create your own cryptocurrency.

ICOs (Initial Coin Offerings) are just one more component of virtual currencies whose relevance lies in their birth. This post will explain everything about crypto ICOs, from the concept to the features, advantages, and how to create them. Of course, we will do it most simply.

Usually, launching an ICO campaign takes quite a long time until the project comes to life. Stay on this post and discover how to create your own crypto ICO!


What Is An ICO, And What Is It For?

It is the acronym for Initial Coin Offering or initial coin offering, as its translation indicates, and it has a lot to do with the financing of a project. In this case, with the birth of a new cryptocurrency. This tool can help you raise funds through cryptocurrencies.

Do you need capital to finance a project or resources to carry out that idea you have in mind? With ICO, you offer investors a cryptocurrency or token that represents the value of your project in exchange for capital in cash or other market-validated tokens.

If your project goes well, the token will increase in value, and your investors will benefit greatly. The White paper is the document you must generate to encourage people to invest in your project. This should include the business model and the most relevant aspects of the business.

Create Your ICO Token

The first thing you need is a consolidated plan. Let’s be honest; this process involves the technical architecture that supports the token, the blockchain technology, and the token itself. They are the parts that make it work. When it comes to blockchain platforms used to issue ICO tokens, most projects go for Ethereum. If you want to create it yourself…

  • You can access the website org.
  • Scroll and choose your wallet to install it, allowing you to deploy smart contracts or smart contracts.
  • Once installed, click on Issue your token to create your cryptocurrency.
  • Next, a code will appear that you must copy.
  • You must create an account and make a deposit.
  • In the part of the contract, you will create your new currency (my token) and demand, with your name and your symbol. You will create a smart contract to create an ERC-20 token.
  • Check if the token has been created correctly, they should appear in the wallet. To do this, you can access io and look for the newly created token.

These are the general steps to create your token in a very general way. However, you can seek help from a professional blockchain development company.

The main objective of the white paper is to inform the public about a specific topic. Did you know that international entrepreneurs and investors are increasingly participating in ICOs?

As successful ICOs, there are many examples, such as the Basic Attention Token of Brendan Eich, creator of the Brave browser, who managed to raise more than 35 million dollars in 30 seconds.

Find the resources you need to launch your own crypto ICO project!

WHy not read our Koinly review next?…

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