• CoinTracker’s cryptocurrency tax solution is now available on the Arbitrum, Optimism, and Cosmos blockchains.
• The support is designed to streamline the digital asset tax filing process and enable the use of cryptocurrency with peace of mind.
• The support for these three blockchains comes thanks to their massive record over the past few months.
CoinTracker Expands Crypto Tax Solution
CoinTracker, a market leader in cryptocurrency tax and portfolio tracking for consumers, announced that it had added support for Arbitrum, Optimism, and Cosmos. This will allow users across these chains access to CoinTracker’s seamless crypto tax filing and portfolio tracking solution.
Easing Digital Asset Tax Filing Process
The addition of support for these blockchains was designed to streamline the digital asset tax filing process as well as enable users to use cryptocurrency with peace of mind. CoinTracker seeks to protect users from manually monitoring complex transactions across these blockchains.
Record Over Past Few Months
The support for these three blockchains comes thanks to their massive record over the past few months. Arbitrum and Optimism now combine to process more transaction volume than Ethereum, with their combined total value locked (TVL) representing almost 80% of the entire Layer-2 ecosystem. Furthermore, Cosmos has become one of the leading chains within the blockchain ecosystem and houses some of the most popular decentralised exchanges, including Osmosis.
Calculating Crypto Taxes
CoinTracker seeks to help users calculate crypto taxes accurately by syncing transactions across various blockchains quickly and easily without manual input or guesswork involved. Vera Tzekovenia, COO at CoinTracker said; „At CoinTracker, we’re laser-focused on building products so users can track all crypto activity quickly with ease,“ regardless of platform or token used.
The addition of Arbitrum, Optimism, and Cosmos provides an easier way for users looking to engage in digital asset activities like trading cryptocurrencies while ensuring they stay compliant with local laws regarding taxes owed on such activities by automating this process through its seamless crypto tax filing solutions available on these three chains