- Trust wallet collaborates with three crypto firms to provide users with a feature to calculate tax liability quickly and accurately.
- The decision is to address a common challenge confronted by users during tax sessions.
One of the well-known self-custodial and multi-chain mobile wallets, Trust Wallet has announced a partnership agreement with Coinpanda, Koinly, and CoinTracker, to provide a one-click service to users who will need to gain deeper knowledge about their crypto holding. As part of the agreement, they will work to provide a simple, convenient, and affordable method to comply with crypto tax regulation by offering a way to generate tax reports. This partnership will enable users to clearly understand their crypto tax liability in addition to handling complexities relating to reporting in the upcoming tax session.
According to Eric Chang, Trust Wallet’s Head of Product, this is part of the effort to make Trust Wallet convenient to its users.
Our free insights report offers a comprehensive overview of a user’s crypto holdings, which can be just as useful for those who don’t want to file taxes. We’re committed to making the Trust Wallet experience as seamless as possible for our users. With this new feature, we’re taking another step towards empowering our users with insights, and simplifying the crypto tax reporting process.
Tax liability has been said to be one of the most important questions for users during tax sessions. The feature was, therefore, launched to serve the needs of users and to operate as a reference tool to enable them to comply with tax regulations in different regions.
Trust Wallet pride itself in the effort to make it easier for people around the world to experience “Web3, access dApps securely, store and manage their crypto and NFTs, and buy, sell, and stake crypto to earn rewards, all in one place and without limits.”
Coinpanda, Koinly, and CoinTracker thrilled about the collaboration with Trust Wallet
Speaking on the collaboration, Eivind Semb, CEO and Founder at Coinpanda confirmed that the goal is to make tax reporting accessible to everyone.
We believe that everyone should be able to easily and accurately report their cryptocurrency taxes, regardless of their level of expertise. We are very excited to partner with Trust Wallet to offer their users seamless integration with Coinpanda’s tax software. Together, we are making tax reporting accessible to everyone in the cryptocurrency community.
Vera Tzoneva, COO at CoinTracker also disclosed that the company is excited about the partnership as it falls in line with its objective of enabling everyone to use crypto with “a peace of mind”. According to Tzoneva, simplifying crypto taxes is one of the steps as the partnership enables users to calculate their tax liability quickly and accurately, then file them.
Jane McEvoy, Global Head of Partnerships at Koinly also commented on the collaboration.
We are very excited about our partnership with Trust Wallet, the market-leading self-custodial wallet. Trust Wallet users can sign up directly through the Trust Wallet app, in just one click, making it one of our most seamless integrations. Users can easily calculate their taxes in time for the upcoming tax season.
Recently, Trust Wallet partnered with Tezos Foundation to provide unique web3 experiences to users.
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