SAN FRANCISCO–(BUSINESS WIRE)–CoinTracker, the market leader in cryptocurrency tax and portfolio tracking for consumers, today announced its multichain expansion to provide support for Arbitrum, Optimism, and Cosmos. Starting today, users across these chains are now equipped with CoinTracker’s seamless crypto tax filing and portfolio tracking solution. The expanded support aims to streamline the digital asset tax filing process, and enable the use of cryptocurrency with peace of mind.
Despite the growth surges across these chains, tax filing solutions for users remain siloed to individual chains. As users move beyond individual chains and explore multichain wallets, it’s crucial they are equipped with tax filing solutions that support activity across multiple blockchains. To this end, CoinTracker is expanding its solution to provide support for users across Arbitrum, Optimism, and Cosmos to insulate users from manually monitoring complex transactions across these blockchains.
Since January Arbitrum, Optimism, and Cosmos have experienced substantial growth, increasing their established popularity. 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. Cosmos represents one of the most prominent chains within the blockchain ecosystem, and home to major DEXs including Osmosis.
However, tax filing solutions had previously been siloed to individual chains, blocking dedicated Web3 users from being able to fully access meaningful support. The increasing trend toward multichain wallets and users require tools that simplify end-to-end cryptocurrency tax filings. To this end, CoinTracker is expanding its solution to provide support for users across Arbitrum, Optimism, and Cosmos to insulate users from manually monitoring complex transactions across these blockchains.
“At CoinTracker, we’re laser-focused on building products so users can track all crypto activity quickly with ease, regardless of the platform or token,” said Vera Tzekovenia, COO at CoinTracker. “We’re thrilled to widen our integration breadth even further and specifically deepen our product focus on the sovereign future — building robust chain integrations so that users can explore these crypto innovations with peace of mind.”
To help users calculate crypto taxes and track portfolios easily, CoinTracker will provide support to Arbitrum, Optimism, and Cosmos in the following ways:
- Arbitrum Automatic Sync: automatically sync transactions on Arbitrum, including new transactions as they occur.
- Optimism Automatic Sync: automatically sync user transactions on Optimism, including new transactions as they occur.
- Cosmos Automatic Sync: import user activity from the Cosmos Hub and automatically tag any ATOM staking rewards.
For more information on the newest CoinTracker integrations, please visit: cointracker.io/blog.
To begin filing taxes, tracking your crypto portfolio, or to learn more about CoinTracker, visit: cointracker.io. Follow CoinTracker on Twitter and join the conversation.
About CoinTracker:
CoinTracker is the market leader in crypto portfolio tracking and tax compliance for consumers, leveraging the best technology and partnerships to deliver the highest level of accuracy, simplicity and value year-round. Users collectively track over $50 billion in crypto assets on CoinTracker. Founded in 2017, CoinTracker is backed by Accel, General Catalyst, Initialized Capital, Y Combinator, 776 Ventures, and other leading investors. CoinTracker is the exclusive cryptocurrency tax partner for many of the top exchanges and tax products, including Coinbase, OpenSea, Intuit’s TurboTax, and Blockchain.com. For more information, please visit https://www.cointracker.io.
Contacts
Isaiah Jackson
Howl Labs
t: 805 674 7348
Source: https://thenewscrypto.com/cointracker-announces-multichain-expansion-of-its-crypto-tax-solution-with-support-of-arbitrum-optimism-and-cosmos/