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Australian Crypto Exchanges Partner With Koinly To Simplify Tax Reporting

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koinly

Koinly is a fast growing cryptocurrency tax solution that promises to help Australian bitcoin investors prepare their crypto tax reports in a fast and efficient manner. By linking exchange accounts and public wallet addresses with Koinly, investors can get a detailed capital gains report within a matter of minutes.

“If you trade or invest with any regularity, compiling transaction records into a single ATO-friendly document can still present challenges, especially if you’re operating across a number of wallets and cryptocurrencies. That’s why for this tax season, we have officially partnered with Koinly to implement direct connectivity to your CoinJar account. This means if you choose to link both accounts, your trading data from your CoinJar will be seamlessly processed.” said Ashter Tan, CEO at Coinjar.

“With the ATO contacting up to 350,000 individuals earlier this year to ensure cryptocurrency trades are reported, it’s great to see Koinly support the Australian market. Combined with Cointree’s monthly holding statements, our members have saved a lot of time calculating their tax.” said Jessica Renden, Head of Operations, Cointree.

“Swyftx are delighted to partner with a Koinly a proven industry leading tax software provider. We love the ease in which our customers can integrate their trading history directly into Koinly via CSV or API key for instant profit and loss calculations and instant access to full detail tax reports to present to their accountants at tax time.” said Tommy Honan of Swyftx.

“Even though there is a lot of guidance around cryptocurrency taxes, it is simply too difficult to calculate taxes by hand especially if you traded on multiple exchanges. With our new partnerships we will be able to help Australian investors reconcile all their transactions in one place and generate tax reports seamlessly” said Robin Singh, founder of Koinly.

ATO began sending out warning letters to some 350,000 cryptocurrency investors in June, the letters make it clear that the ATO knows about the recipients cryptocurrency activities and wants them to amend or declare their taxes accordingly. Other countries such as the US, UK and Denmark have also sent out similar letters in the past.

As cryptocurrency becomes more and more mainstream, it comes as no surprise that tax agencies all over the world are trying to ensure taxpayers are aware of the tax liabilities that arise from cryptocurrency trading.

This News has been Published in Partnership with PR Newswire

Crypto Currency

Best Cryptocurrencies to Watch in 2023

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Best Cryptocurrencies to Watch in 2023

When thinking about buying crypto assets, most people mention Bitcoin and Ethereum for they are the most prevailing digital assets in the market. Bitcoin has the largest capitalization – over $436 billion. It is the first crypto asset whose emergence inspired the development of the whole crypto industry. You can find Bitcoin on any cryptocurrency exchange platform, and it is probably the best cryptocurrency to buy for the long term. What about other digital assets presented in the market rankings? Are they worth buying?

Which Crypto to Buy?

Altcoins is the name for digital assets that emerged after Bitcoin. Many of them strived to repeat Bitcoin’s features and were based on its code, with the addition of some improvements. So we may say that all crypto assets that are not Bitcoins are altcoins (alternative coins). 

If we leave the market leaders and pay attention to middle and small-cap assets, we can say they deserve attention. Small and mid-cap coins are sensitive to market volatility, so they can easily skyrocket when the market’s bull trend. So it makes sense to buy altcoins with smaller capitalization in small portions and diversify your investment portfolio in such a way that even if some coins lose value, others will boost and bring you high investment returns. 

What crypto to buy now? Here are some worthy examples:

  • Polygon
  • Polkadot
  • Solana
  • Cardano
  • Litecoin
  • Tron
  • Chainlink.

Check out these digital projects, their communities, and social networks. And to find out more information about up-and-coming crypto projects, visit the WhiteBIT blog. It regularly posts interesting articles and the latest industry news. 

On the WhiteBIT exchange, you can buy and trade digital coins at low fees and a high safety level. In addition, you may try passive income options – crypto lending, allowing you to profit from holding your coins on the exchange and allowing it to use them for lending.

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Crypto Currency

Bitpanda Technology Solutions now available to financial institutions via Visa's Fintech Partner Connect programme

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Bitpanda Technology Solutions now available to financial institutions via Visa's Fintech Partner Connect programme
  • Austrian fintech unicorn Bitpanda has partnered with Visa, a world leader in digital payments, to empower crypto trading and custody services for banks and FinTechs.
  • Bitpanda Technology Solutions, Bitpanda’s Software-as-a-Service solution,  empowers banks, brokers, fintechs and online platforms to rapidly offer trading and investment services for asset classes such as Crypto, Stocks/ETFs, Precious metals & Commodities to their end customers.
  • Beyond this partnership Bitpanda Technology Solutions will now start their expansion outside Europe.

VIENNA, March 23, 2023 — In partnership with Austrian fintech unicorn Bitpanda, Visa’s partners will gain the opportunity to access Bitpanda’s comprehensive investment infrastructure solutions. This enables financial institutions, banks and fintechs to rapidly offer trading and investment services for asset classes such as Crypto, Stocks/ETFs, Precious metals & Commodities to their end customers. Next to this partnership Bitpanda Technology Solutions will begin expanding their investment infrastructure outside of Europe.

Due to increasing user demand many banks & FinTechs from around the globe have started to work on their crypto use-cases, which range from offering investing to retail customers, private banking High Net Worth individuals even to corporates for their treasury activities. This rise in focus can be seen in the string of collaborations recently launched by Bitpanda, which include the largest challenger bank in Continental Europe, N26. Driven by market competition, Bitpanda expects adoption to continue to grow exponentially in the years forward as, in parallel, regulatory bodies are providing clearer frameworks for banks to safely engage with the industry.

LUKAS ENZERSDORFER-KONRAD, CEO of Bitpanda Technology Solutions, says:

“As the demand for cryptocurrencies continues to rise, banks must take proactive steps to meet the changing needs of their customers. Bitpanda Technology’s SaaS solution provides financial institutions around the world with the infrastructure they need to deploy the most scalable and secure way to build all relevant crypto use cases. We are thrilled to partner with Visa and to be able to offer our solution to their outstanding networks of financial institutions around the world.”

Ute König-Stemmler, Central Europe Head of Business Development  Visa, comments: “We are excited to welcome Bitpanda to Visa´s Fintech Partner Connect Program. The partnership will assist banks to integrate an asset trading platform for crypto and other assets within their banking app.”

How Bitpanda Technology Solutions is bringing crypto to the financial service industry

Bitpanda, already well known for providing digital trading services to several European banks including European Neobank N26, announced the expansion of its B2B offer with the launch of Bitpanda Technology Solutions earlier this year. By being part of Visa’s Fintech Partner Connect program their clients can connect with digital-first, next-generation solutions and open up new possibilities. The unicorn already provides over 20 million European customers access to crypto trading via its infrastructure, Partners can build their own user experiences on an ISO 27001 certified and battle-proofed infrastructure.

Additionally, Bitpanda’s infrastructure is set up as a modular system to enable our partners to pick and choose from our features such as savings plans, asset-to-asset swaps, crypto staking, fractionalised Stocks, full blockchain service, and many more via one simple API integration. Custody for cryptocurrencies is provided by Bitpanda Custody, an institutional grade custody provider regulated by the FCA.

Bitpanda is offering its services on a global level, enabling Banks and FinTechs from around the world to build a crypto trading offering in less than three months. This, combined with Bitpanda’s more than 8 years in the investing and crypto industry, makes it a unique product that can educate and empower financial institutions to offer tailor-made crypto trading and investment experiences.

Current partners include German digital bank N26, French money app Lydia, UK fintech Plum and Italian open banking provider Fabrick, among others.

ABOUT BITPANDA

Bitpanda simplifies wealth creation. Founded in 2014 in Vienna, Austria by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda exists to help people trust themselves enough to build financial freedom for their future. The user-friendly, trade-everything platform empowers both first-time investors and seasoned experts to invest in the cryptocurrencies, crypto indices, stocks, precious metals and commodities they want — 24/7. With more than 700 team members and steadily approaching 4 million customers, the company is one of Europe’s most successful fintechs.

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Crypto Currency

Bitget Invests $30M in BitKeep Broadening Its Ce-DeFi Ecosystem

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Bitget Invests $30M in BitKeep Broadening Its Ce-DeFi Ecosystem

Bitget has announced a $30 million investment in BitKeep the decentralized multi-chain wallet, becoming its biggest stakeholder. The investment will allow the exchange to extend its range of centralized crypto services into a decentralized ecosystem. The sister companies will leverage their respective offerings and collaborate on linking CeFi and DeFi. The investment involves the merger of BitKeep Wallet with Bitget’s business domain, significantly bolstering its existing user base and product offering.

Founded in 2018, BitKeep has been providing uninterrupted and reliable non-custodial wallet, swap and NFT marketplace services to its user base of more than 8 million across 168 countries. The wallet supports 90 mainnet networks such as Bitcoin, Ethereum, BNB Chain, Polygon, and Solana, and over 250,000 types of assets across more than 20,000 dApps.

“This move is a win-win choice for Bitget and BitKeep and facilitates collaborative efforts in the decentralized space and beyond. We are not only delighted to provide the team at BitKeep with the necessary support to reinforce the security and stability of its offering services, but also excited to have such an established industry player as part of our growing ecosystem,” said Gracy Chen, Managing Director at Bitget.

As part of the deal, Bitget has invested $30 million in BitKeep, increasing its shareholding and becoming the primary stakeholder of the company valued at $300 million as per its previous funding round. The partnership with Bitget will give the wallet access to the exchange’s proven technology and security capabilities in the exchange domain, thus helping it improve the stability and security of its services.

By integrating BitKeep’s established 8 million user base, Bitget will receive access to an entirely new audience of potential clients. This is one of Bitget’s crucial moves towards Web3 which foresees linking CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive and holistic exchange with its own ecosystem.

“The investment deal implies not only financial but also technical support, which will be provided to us by a professional team along with the experience necessary for product growth and market expansion. We are excited about this partnership and the potential it has to provide our users with even more comprehensive digital asset management services. We believe that working closely with Bitget will not only drive the growth of our business but also provide us with valuable experience exchange that will benefit our users,” said Moka Han, Chief Operating Officer at BitKeep

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

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