CoinLedger Integrates Polygon Blockchain To Make Tax Reporting Seamless
- Now, with the integration with Polygon, CoinLedger subscribers are eligible to directly import and analyze every history associated with their transactions.
An Austin TX-based cryptocurrency and web3 tax reporting platform, CoinLedger, has integrated with the Polygon network. The protocol revealed the development in a statement on Monday. Reportedly, the incorporation with the blockchain now paves the way for subscribers who access Polygon through Dapps and wallets to upload their transaction details into CoinLedger seamlessly.
This, as revealed, enables them to automate every incurred capital profit, loss, and revenue tax reporting.
CoinLedger Taps on Polygon for Blockchain Technology
The CEO and Co-founder of the venture, David Kemmerer, expressed the delight of his team to widen CoinLedger’s tax reportage and accounting prowess to the polygon network. Kemmerer hinted that the transaction volume on the Polygon is astonishing.
Additionally, he hinted that numerous apps are currently built on the platform. The CEO, however, affirms the commitment of his team towards harnessing more innovative prowess enveloped in the ecosystem.
This, according to him, will be actualized through the reduction of the friction incurred while making transactions on the blockchain.
Now, with the integration with Polygon, CoinLedger subscribers are eligible to directly import and analyze every history associated with their transactions. This is possible through the usage of the copy/paste function to attach the wallet addresses of their Polygon to CoinLedger. As a consequence of this, the subscribers can now realize total capital profits, losses as well as revenue tax reportage through their respective transactional history.
As designed, Polygon functions as a layer-2 platform. Reportedly, it usually allows creators to invent scalable and seamless dApps at low transactional fees. More so, the network avails developers with stable and reliable protection. According to findings, Polygon currently enjoys about 18,000 decentralized apps. These apps rely on the network to improve their respective productivity.
Worth noting that Coinledger is a problem solver. Before, crypto investors usually experienced issues while attempting to effect tax reportage. This issue, according to findings, is not unconnected to the interoperability attached to crypto and other virtual assets.
With CoinLedger, the problem is now fully solved through its direct integration with popular exchanges, wallets, and blockchain projects. Reportedly, such development paves a way for crypto subscribers to monitor their respective virtual asset transaction history within the confines of the crypto sphere.
Additionally, the tax-reporting platform allows straightforward reportage of taxes by users exploring the crypto sphere. The platform avails a productive dashboard for subscribers to easily supervise their crypto operations without hindrance.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
