Nexo, a popular trading platform for cryptocurrency investors, has integrated tax calculation software from Koinly into its platform. This integration is seen as a valuable addition for users as it simplifies the process of calculating taxes on crypto investments. Koinly is a widely used tax service in the industry, known for its ability to automatically calculate taxes by integrating with various exchanges and wallets. This is particularly helpful for traders who deal with multiple crypto assets and trading types. Nexo has been steadily adding features to its mobile app and web platform, positioning itself as a comprehensive exchange platform. While the introduction of simplified futures trading grabbed headlines, the integration of Koinly’s tax calculator is equally significant. Koinly already serves the tax needs of over 1 million crypto investors worldwide and partnering with Nexo further supports cryptocurrency adoption and simplification of crypto taxation. With support for over 100 jurisdictions where crypto is taxable, Koinly caters to the needs of most Nexo users. Nexo, with over 6 million users from more than 200 countries, offers services to both private clients and institutions. While crypto lending and borrowing remain core services, Nexo has become synonymous with trading. The platform supports more than 60 crypto assets, including popular ones like BTC and ETH, as well as lower cap coins. Nexo users can also increase their capital by depositing assets and borrowing against them. Koinly claims to generate tax reports in just 20 minutes, saving users time and potentially reducing their tax burden. Nexo customers who primarily use the platform can benefit from Koinly’s integrated service, which covers up to 800 transactions for free. Users with higher trading volumes or who trade across multiple platforms can upgrade to a paid plan, with Nexo offering a 30% discount through its partnership with Koinly. Overall, the integration of Koinly’s tax calculation software enhances the value of Nexo’s platform for crypto investors, simplifying the tax reporting process and potentially saving them money.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Adam Saville Brown |
| Companies | Koinly, Nexo |
| Currencies | Kusama, Balancer, Bitcoin, NEXO, Ethereum |
| Securities | None |
