With this multichain support, even more crypto users can now handle their digital asset tax filing seamlessly across different blockhains, the CoinTracker team said in an announcement.
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The expansion also bolsters the adoption and use of cryptocurrency, with users tapping into the automation to avoid the tiresome aspect of having to manually monitor complex transactions across multiple chains.
Already, CoinTracker exclusively offers its crypto tax and portfolio solution to many of the leading exchanges and tax platforms in the industry. These include US-based crypto exchange Coinbase, top NFT marketplace OpenSea, and Intuit’s TurboTax.
Crypto tax filing across multichain wallets
CoinTracker’s support for Arbitrum, Cosmos and Optimism comes as the crypto community embraces the growth opportunities presented by Web3. Now instead of facing the constraints of a siloed filing approach, users can enjoy streamlined processes, with simplified end-to-end crypto tax filing – especially with growing trend in multichain wallets.
Vera Tzekovenia, the COO of Coinracker, commented on the expanded support:
“At CoinTracker, we’re laser-focused on building products so users can track all crypto activity quickly with ease, regardless of the platform or token…We’re thrilled to widen our integration breadth even further and specifically deepen our product focus on the sovereign future — building robust chain integrations so that users can explore these crypto innovations with peace of mind.”
Users on the three chains can now calculate their crypto taxes and effortlessly track portfolios by automatically syncing transactions (for Arbitrum and Optimism), or importing user activity and automatically tagging their ATOM staking rewards (for Cosmos).
Founded in 2017, CoinTracker currently helps track over $50 billion worth of crypto assets. The platform is backed by several top venture capital firms, including Accel, Y Combinator, General Catalyst, Initialized Capital, and 776 Ventures.