The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses. Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading. Through its Earn product (crypto interest…
The crypto world is one vast industry introducing a wide array of benefits every new day, but becoming complicated for new players. For instance, the investors need to have a wallet to start trading and, in some platforms, a minimum amount of crypto assets.
A large scale investor may need multiple wallets to trade in many different crypto assets and earn returns. In addition to wallets, there are exchange platforms necessary in crypto trading. Controlling all these platforms and portfolios can be challenging for investors, and a little mistake in such trading could cost detrimental losses of hard-earned wealth.
A new platform is rising, Accointing.com, providing services, especially in the accounting and portfolio management sectors assisting traders in tracking their investments.
What is Accointing.com?
Accointing.com is a crypto platform designed to provide top solutions for tracking, managing, and reporting all crypto platforms in a single shop. This platform is the ultimate solution to accessibility, usability, and reliability issues in the crypto world since, with just one app, users access a world of services.
What Are Some of Its Functions?
The Crypto Tracker Option
Using this platform, crypto enthusiasts can connect the entire crypto ecosystem using just one single app, with the crypto tracker tool. Investors easily view the market overview of how the crypto world performs and get comprehensive information about many different coins.
Secondly, the investors will find insights about their trades, investments, profits, and losses made from trading. Additionally, the investor will connect all their wallets, exchanges and see their assets’ real-time value.
Whether drastic or small, investors will get alerts about their favorite assets and when it is best to sell them in case of any market changes.
Portfolio Tracking Dashboard
The portfolio tracking platform helps the investor track crypto portfolios on one dashboard. Using the portfolio tracker, the investor understands the portfolio by reviewing the historical performance and learning from past mistakes and profits.
Moreover, an investor can import all their transactions easily in any of the over 300 wallets and exchanges supported using this network. Since the network connects over 6000 currencies, investors can create the best portfolio for themselves using just this one network.
Additionally, using the portfolio tracker makes it easy for the investor to compare their daily crypto performance and compare performance with other crypto traders in real-time.
Crypto Tax Reporting Tool
This tool assists investors to generate detailed tax reports. Foremost, the investor imports the transaction and their values, classifying them to allow the platform to calculate profits or losses.
This user now chooses the type of tax filing based on their residential and country’s jurisdiction. After that, the investor will use this tool to download all tax files and all required documents.
In addition to being a tax accounting tool, this tool helps the investor know if they can earn tax-loss harvesting benefits, both in the short and long term.
Since the platform follows accounting jurisdictions for people of different countries and jurisdictions, most governments will readily accept tax reports therein. Moreso, they will use experts to review taxes to have solutions in every situation.
The platform has three different subscription options for the benefit of every user. Foremost, there is a free tax 365-day option for up to 25 transactions, a subscription that goes for 365 days. Using the free subscription, an investor will track unlimited transactions, manage portfolios, and access all previous years’ reports.
Another option is the Hobbyist option, supporting up to 500 tax transactions, giving a professional tax report for 365 days at $149. Similarly, the user gets unlimited transactions, portfolio management, full classifications, and a history report of all past years.
The next option is the trader subscription supporting up to 5 thousand transactions at $149. It’s by far accounting.com’s most popular choice. Like the other option, this option gives unlimited transaction tracking, portfolio management, and many other features.
The final subscription is the pro subscription supporting over 50 thousand transactions at $259. Using all of those subscriptions, the investor will freely print reports over and over.
Additionally, after purchasing the plan, an investor can upgrade to a higher subscription, depending on their needs.
What are the Benefits of Accointing.com?
Easy Accessibility, usability, and Convenience
This platform provides maximum accessibility and usability for all of its users. There is a web-based platform for windows users and an app for both android and iPhone devices. The convenience is seen from how Accointing.com connects the many crypto services in just one dashboard. Moreover, the platform is easily accessible in many countries and multiple languages.
The reliability of this platform also is seen from the team taken to ensure it works properly. There is a collection of accounting, tax, and business experts to give accounting solutions, tax management, and the platform’s business development.
Moreover, the platform uses software and UI/UX experts to ensure the new platform hits full functionality, and the system remains dependable in the long run.
Connection to Multiple Wallets and Exchanges
The platform allows investors to connect to a world of exchanges and wallets like Binance, BitMEX, and many others. Investors will, therefore, choose the wallet or exchanges to use for their investment.
The Accointing.com platform is a one in a kind network being a top solution to service delivery in the crypto world. Investors will be able to track and manage their crypto tax and accounting needs. There is a crypto tracker helping investors track over 6 thousand assets and know the assets’ performance.
Moreover, Accointin.com has a portfolio tracker that helps large and small investors track their asset portfolios in different exchange platforms. Tax calculations are often complicated, but by using the Accointing network, the investor will quickly determine their crypto tax requirements. Investors, both large and small, can try this platform to get unlimited benefits.