Cryptocurrency exchange Bybit collaborates with a cryptocurrency tax calculator to streamline the process of tax declaration for crypto transactions
In a move aimed at simplifying the process of crypto tax compliance for its users, Bybit, the second-largest cryptocurrency exchange by trading volume, has announced a partnership with Crypto Tax Calculator (CTC). This collaboration offers significant benefits for global users, as they can now generate tax reports that comply with the tax regulations of various countries, easing the burden of navigating complex tax requirements worldwide.
Bybit's new EU-compliant platform, Bybit.eu, will provide its users with access to CTC's robust tax platform, which supports over 3,500 integrations and operates across more than 100 jurisdictions. This integration, refined by Bybit's engineering team, ensures high accuracy and performance.
The partnership with CTC is not just beneficial for users, but also for new CTC users from Bybit, who are eligible for an exclusive 30% discount on their first-year subscription. This discount makes tax reporting more affordable and accessible.
CTC, fully integrated with Bybit's API, enables automated generation of tax reports directly from wallet metadata. Users can access their transaction data via API or CSV uploads, providing flexibility in managing tax workflows. The platform supports a variety of crypto activities, such as exchange trading, staking, NFTs, and DeFi transactions.
CTC generates CPA-endorsed reports that comply with the regulatory standards of tax authorities in over 100 countries. The platform holds a 4.8/5 rating on Trustpilot, reflecting its reputation for accuracy and user-friendliness.
Aside from CTC, Bybit has partnered with three other tax solutions - Koinly, Cryptact, and KoinX. This collaboration with CTC marks Bybit's fourth official tax partnership, further demonstrating its commitment to providing comprehensive tax solutions for its users.
While the partnership with CTC offers a solution for crypto tax compliance, it does not provide a clear indication that Bitcoin has bottomed yet. The cryptocurrency market remains volatile, and users are advised to exercise caution and due diligence when making investment decisions.
In conclusion, the partnership between Bybit and Crypto Tax Calculator offers a convenient and compliant solution for users worldwide, fostering responsible and compliant crypto usage. This collaboration streamlines the filing of crypto taxes by integrating CTC's advanced reporting tools directly with Bybit's platform, enabling users to file taxes accurately and conveniently from a single interface.
[1] Bybit Press Release, "Bybit Announces Partnership with Crypto Tax Calculator (CTC) for Global Tax Compliance," 2022. [4] Crypto Tax Calculator, "Bybit Partnership," 2022.
- Bybit's partnership with Crypto Tax Calculator (CTC) offers a 30% discount to new CTC users from Bybit, making tax reporting more affordable and accessible.
- CTC, integrated with Bybit's API, enables automated generation of tax reports directly from wallet metadata, supporting a variety of crypto activities such as exchange trading, staking, NFTs, and DeFi transactions.
- With over 3,500 integrations and operating across more than 100 jurisdictions, CTC generates CPA-endorsed reports that comply with the regulatory standards of tax authorities in over 100 countries.
- Bybit, the second-largest cryptocurrency exchange by trading volume, has also partnered with three other tax solutions – Koinly, Cryptact, and KoinX, further demonstrating its commitment to providing comprehensive tax solutions for its users.
- The cryptocurrency market remains volatile, and users are advised to exercise caution and due diligence when making investment decisions, even with the convenience of Bybit's partnership with CTC for crypto tax compliance.
