As a Bitcoin user, keeping track of your trades and calculating your taxes accurately can avoid any potential issues with the tax authorities. One tool that can help with this is CoinTracking.
What is Cointracking?
CoinTracking is a service that allows you to easily track your trades and calculate your taxes. It can be used easily with your BitBox02 account, allowing you to import your trades automatically and view them all in one place. It also supports Bitcoin services like Pocketbitcoin or BTCPayServer.
Using CoinTracking can save you time and effort when it comes to calculating your taxes. The service provides tax reports to help you to determine your tax liability, including the Capital Gains Report and the Income Report, which can make it easier to file your tax returns.
Additionally, CoinTracking allows you to keep track of your trades and see how your portfolio is performing, via a range of tools and features like real-time price updates and portfolio tracking. These can help you make more informed decisions about your trades and give you a better understanding of how your investments are performing.
How to use CoinTracking with the BitBox02
Please note: Sharing your transaction information with a third party service means that they can see all past and potentially future transactions of this account.
To use the Cointracking service, you first have to export a BitBox02 account. To do this, chose an account on the left side of the BitBoxApp and click Export on the right side. You will be asked where to save the .CSV file.
Next, go to cointracking.info and sign up. After logging in, you should see a choice of different data providers. Here you can chose BitBox under Wallet Import.
On the next page, you will be asked to upload the .CSV you have previously exported.
Start using CoinTracking
CoinTracking provides a range of features to keep track of your trades and can save you time and effort when it comes to managing your taxes. If you're a Bitbox02 user and you want to make sure you're on top of your tax obligations, CoinTracking is definitely worth considering.
Our partnership with CoinTracking brings you a 10% discount to get started with their portfolio tracker and tax software. Claim it here.
Don’t own a BitBox yet?
Keeping your crypto secure doesn't have to be hard. The BitBox02 hardware wallet stores the private keys for your cryptocurrencies offline. So you can manage your coins safely.
The BitBox02 also comes in Bitcoin-only version, featuring a radically focused firmware: less code means less attack surface, which further improves your security when only storing Bitcoin.
Shift Crypto is a privately-held company based in Zurich, Switzerland. Our team of Bitcoin contributors, crypto experts, and security engineers builds products that enable customers to enjoy a stress-free journey from novice to mastery level of cryptocurrency management. The BitBox02, our second generation hardware wallet, lets users store, protect, and transact Bitcoin and other cryptocurrencies with ease - along with its software companion, the BitBoxApp.