Avoid unnecessary taxable events & save money on taxes
Our Smart Matching Algorithm helps you match transfers done across exchanges irrespective of fees and block time delays, which will help you avoid a ton of taxable events that were not actually taxable events.
As per updated guidance provided by IRS, movement or transfer of digital assets or cryptocurrency from one exchange to another exchange is not a taxable event.
What can a smart matching algorithm do
With more than 20 transactions, it becomes hard to trace the movement of funds across exchanges. Keeping track of transfers and matching them manually is error-prone and increases the probability of errors with a number of transactions
Exchanges deducting fees can make the management of deposits and withdrawals across exchanges difficult. Having differences in timestamps due to block times as well as exchange processing times could make it hard to track.
Transfer of exchanges to wallets and from wallets to exchanges is a common practice. To keep your funds safe, follow the best practices and our smart matching algorithm helps you avoid unnecessary taxable events.
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