The emergence and development of cryptocurrency as an investment opportunity has led to the need and a source for taxes for governments. People can easily make profits from cryptocurrency, as they have clearly shown. There are many cryptocurrency millionaires from all over the world. These are people who invested in cryptocurrency early on and others who made a respectable investment in the technology. But in Africa, the number of people investing in cryptocurrency has been growing every day, leading to more people making profits from blockchain technology. Already, Africa is home to the largest population of people involved in peer-to-peer transactions. Recently, African artists have adopted NFTs as their main way to develop and sell their art to the public.
With cryptocurrency’s current advancement and adoption, some governments have already imposed taxes on crypto profits. This is a good way to ensure government services continue getting the funding they require; this is critical that more and more people in Arica are shifting their focus on cryptocurrency and blockchain technology as their main source of income. This is a good way to ensure that the technology continues to be regulated. The government protects investors and users of the technology through the funding the government gets.
When the government imposes taxes on things, it is important to pay taxes to avoid any inconvenience that may happen. There are thousands of cases of tax evasion all over the world, and some cases do not end well for some. This article presents information on Coin Tracker and offers reasons why this is the best platform to use to pay crypto taxes.
Coin Tracker has been crowned as the best crypto tax platform in the world. Some of the features that make this platform have such a following impressive include;
The first is that people can calculate their cryptocurrency taxes on the platform. There are different rates and costs for different cryptocurrency investments and transactions. It might be difficult to know and calculate the exert amount of crypto tax to pay if you are a serial crypto user and investor. This platform gives you the ability to calculate the exert amount of taxes you need to pay to ensure the government does not track you demanding more money or sue you for tax evasion.
The other feature that makes Coin Tracker so impressive is that it has the ability to track cryptocurrency transactions and token performance in the market. This might be a lifesaver since people might forget to check on an investment they made months ago or forget some transactions they make if they do so frequently. The platform also minimizes crypto taxes by ensuring that the account holder pays the required amount and nothing more or less. Coin Tracker has partnered up with some of the major players in cryptocurrency to ensure that the platform can help as many cryptocurrency holders as possible. Some of the common names on the list of partners include Coin base, OpenSea, Turbotax and H & R Block.
