✅ It supports more than 500 exchanges It is simple to import your transaction data into CoinPanda because it has direct interfaces with more than 500 exchanges and 75 wallets.
✅ It is very swift and simple to use. For being so simple to use, CoinPanda receives high marks from users. The platform’s easy-to-use interface is logical and straightforward to operate.
✅ It can meet all of your tax requirements. In addition to generating capital gains and cryptocurrency income reports, CoinPanda also enables users to compute profits and losses from futures, margin, and DeFi transactions.
✅ It is an expertly designed suite. For CPAs and tax experts to provide tax reports for their clients, CoinPanda also provides a software suite.
✅ As it processes and computes your taxes and capital gains, it is efficient. It can be completed in less than 20 minutes.
✅ It contains a tool that works to actively lower the amount of tax due on your various transactions.
✅ It alerts you if a choice you’re going to make will have a negative effect on your tax returns.
✅ Additionally, the platform supports a large number of countries.
✅ It has a free plan.
❌ It follows US pricing. You should not forget to take the exchange rate into account when determining whether a CoinPanda package is suitable for you.
❌ High-volume traders have more cheap alternatives. There may be more reasonable solutions available from alternative crypto tax software vendors if you’ve executed more than 20,000 transactions in the last year.
With CoinPanda, more than 250 exchanges are accessible. Binance, Binance US, Bitbuy, Bitfinex, Bitbay, Coinbase, Bittrex, Bitgate, Coinbase Pro, Gemini, Gatehub, Coinomi, MEXC Global, Kraken, Poloniex, Probit, Upbit, Bybit, Blockchain.com, Robinhood, Exchange, Bitrue, Liquid exchange, etc. are a few examples, but they are not the only ones.
On CoinPanda, 37 wallets are presently supported. There are several of them, such as Atomic wallet, Metamask, Trustwallet, Ledger, Safepal wallet, Paypal, Trezor, Electrum, Jaxx wallet, Tronlink Pro, Blockchain.com wallet, Coinbase wallet, etc
One of CoinPanda’s most noticeable aspects is this. It displays every cryptocurrency transaction you’ve made, including both wins and losses, in a single online spreadsheet. Ten columns are typically present for each cryptocurrency transaction. Date Sold, Date Acquired, Asset, Amount, Cost Basis (in dollars), Proceeds (in dollars), Gains or Losses, Notes, Holding Period, and Transaction Type are the columns that are listed.
The Capital Gains Report covers transactions including futures and margin in addition to spot trading. Yes, it provides a thorough summary of your entire crypto existence.
This feature enables you to prevent double loss when you sell your cryptocurrency at a loss because it covers all of your taxable crypto transactions. As a result, your overall capital gains are decreased, which lowers your tax bill for the following tax year. Therefore, CoinPanda can prevent you from filing for bankruptcy even if you are experiencing financial difficulties.
Using a variety of DeFi transactions, including mining, airdrops, ICOs,yield farming, forks, staking, gifting, and other transactions, this tool computes your cryptocurrency taxes on revenue. One spreadsheet with six columns—Date Received, Amount, Asset, Net Value (in USD), type, and Transaction Description—displays the entire collection of data.
For computing bitcoin taxes on cryptocurrency transactions and submitting those taxes to the appropriate authorities, Coinpanda is a component of ideal tax solutions. The system is described as a cryptocurrency tax application. It is a helpful tax calculator that alleviates the burden of paying your cryptocurrency taxes. It was introduced in 2018 and currently supports more than 7,000 cryptocurrencies that are traded or kept in more than 350 wallets or exchanges.
If the user creates a new account using the Coinpanda referral link, they can be qualified for a bonus. By employing the offered referral link or referral code, users can benefit from the referral incentive. As a result, Coinpanda gives a 15$ discount on all trading fees. To utilize the referral bonus, Click here.
Since the “Referral Code” area in your browser will already be filled in, using our link or referral code is now hassle-free. Just complete the last few stages of the registration process.
One of Coinpanda’s most noticeable aspects is this. It displays every cryptocurrency transaction you’ve made, including both wins and losses, in a single online spreadsheet. All these benefits are provided by so few exchanges, making Coinpanda stand out in the crowd.
Make sure you have read and understand all of the T&Cs before moving on. Before you start your happy and satisfying trading trip with them, make sure you are fully aware of all the terms.
As the name implies, this function lets users keep track of their portfolio by automatically syncing transactions from all of the exchanges and wallets they possess. This manner, even if they are dispersed over numerous crypto businesses, you can accurately determine how much you have and how much is taxable. In order to help customers in making logical sense of their complete portfolio, the portfolio tracking system is a free tool that also includes a ton of other functions. It includes- Analytics, search tools, Margin trading tracking, tax preview, tax reports, tax reduction, cost basis etc.
In short, CoinPanda is an accounting partner for your cryptocurrency requirements. You must first create an account on the platform, which is completely free to do. You need to import your cryptocurrency transactions into the site after joining up. Regardless of how long you have been trading, CoinPanda will quickly and easily compute taxes and capital gains.
There are three options on how to add transaction to the CoinPanda system. Although it would take time and effort, you could manually add them. If not, you can import them as CSV or XLSX files or connect your wallets with your API credentials to retrieve them automatically.
To arrange your portfolio, CoinPanda enables you to establish as many wallets as necessary. For any exchange or wallet that you have used, you can build a new wallet; just make sure to import all of your transactions so that your whole portfolio is accurately reflected.
A tax year’s worth of transactions determines how much CoinPanda will charge you for its services. A few functions, including portfolio tracking and transaction import, are free. To view your tax assessments and download and export your tax documents and files, you must pay.
The pricing levels according to the volume of transactions are shown in the following table:
|Satoshi (Increased Limit)||50000||$596|
|Satoshi (Increased Limit)||75000||$768|
|Satoshi (Increased Limit)||100,00||$941|
Many cryptocurrency fanatics have found CoinPanda to be the ideal place to go if they want to take advantage of the sweetness of crypto while avoiding problems with the law. It takes security very seriously because it is a trusted hub for many people, and it has taken steps to reassure users of its good intentions. The professionals on the CoinPanda team are fiercely interested in the cryptocurrency world. These individuals have knowledge in numerous facets of online and cryptocurrency technologies and have been successful businesses. Therefore, you may be confident that you are in good hands.
The data and services of CoinPanda are hosted by Amazon Web Services (AWS). You don’t even need to be an expert in technology to understand that Amazon’s services are safe, and this security also applies to their users.The team is constantly striving to find and fix any bugs in the CoinPanda program. Updates are frequently published as a result.Your payment information is not saved. Instead, CoinPanda uses Stripe, a renowned payment processing system, to handle transactions.