Revoluta global financial super app with over 28 million customers worldwide, opens access for crypto customers to a tax reporting of cryptocurrencies external at discounted prices and takes another step towards its mission to create the first superapp for all things money.
Revolut makes tax reporting less stressful: here’s how to manage your cryptocurrency reporting
The partnership between Revolut e Koinly, renowned industry platform, makes tax reporting less stressful and time consuming, as well as more accurate than manual calculations. Currently, Revolut customers can buy and sell over 100 tokens or they can test and swap beyond 12 collections of cryptocurrencies.
Also, they can use the superapp to boost their crypto knowledge with Learn & Earn. The tax reporting service enriches the diverse offering offered by Revolut to millions of customers around the world.
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Report your cryptocurrency income tax with Koinly
The benefit of declaring your cryptocurrency income tax with Koinly is the simple and intuitive process proposed to customers. It is not only easy to use, but also allows for an established relationship that integrates crypto assets and trading assets held on other platforms. The selected partner has the experience to generate reports integrating transactions with over 1.700 token, over 170 blockchains support, oltre 100 wallet and is available in 34 markets.
The Crypto section of the Revolut app
The function is accessible in the Crypto section of the Revolut app. The customer must click on the link to the Koinly platform and complete the registration process via SSO (single sign-on). After synchronizing transactions made through Revolut, the customer will need to review the recorded transactions and, upon checkout, will be informed of the cost of the service.
The final price paid by a customer will vary depending on the number of crypto transactions made with Revolut or other platforms selected by the customer, and includes a generous discount up to 60%. Once the report has been paid for and downloaded, you will be able to use it to complete your tax return with the relevant tax authorities in your jurisdiction.
How to buy and sell cryptocurrencies on Revolut?
Revolut offers a wide range of financial products through its financial superapp, and cryptocurrencies are one of them increasingly popular. Exist different ways to buy and sell cryptocurrencies on Revolut.
Customers can set up a stop or limit order so you don’t have to check the trend assiduously or use the recurring buy function to reduce volatility. Customers can also save loose change by converting it into a cryptocurrency of their choice from a list of over 100 cryptocurrencies.
As part of its mission to be the safest place to trade, use and learn about cryptocurrencies, Revolut regularly notifies customers that crypto tokens are assets volatile and prices can change quickly.
Revolut believes in expanding access to cryptocurrencies but also recognizes that it may not be right for everyone. The firm encourages its clients to research various cryptocurrencies and the risks and opportunities before buying or selling.
Customers should look into independent sources and learn about the differences between tokens, as well as consider their personal circumstances when buying or selling cryptocurrencies. Cryptocurrencies are not regulated. Funds invested in cryptocurrencies are not protected, which means it is possible to lose your entire investment. You may also need to pay capital gains tax.