Koinly and NEAR join forces to take the pain out of crypto tax

Koinly recently announced a partnership with NEAR Protocol. The announcement was made on the official X account of Koinly.

The recent partnership is aimed at simplifying the tax process for global crypto use. The tweet by Koinly sheds some light on how it will be done:

Seamless Integration: Users can get started with their crypto tax journey by simply signing up with Koinly. Once done, they can connect their NEAR wallet using the public address. There is no need for CSV imports or manual data entry.

Automated Calculations: Users no longer need to perform laborious tasks with the assistance of Koinly’s cryptocurrency tax tool. The tool automatically calculates the losses, income, and gains generated from NEAR transactions.

Effortless Tax Reporting: Users can generate an in-depth tax report using the Koinly crypto tax tool. It ensures that customers get all the necessary documentation to file their taxes with confidence and ease.

The partnership marks a huge step in the crypto community. Koinly boasts one of the best crypto tax tools in the market. Now that it has joined hands with NEAR, its market reach will expand exponentially.

NEAR has been on a roll with new updates and partnerships. The protocol recently added another shard to its mainnet and is planning to add another in the coming week.

As for the partnership, users can expect the parties to start new initiatives if they succeed. Koinly can build new functionalities catered to NEAR-based transactions, such as gas fees or taking rewards.

Moreover, there is a chance that Koinly might even offer direct integration with tax-filing authorities. Overall, the collaboration signifies a positive step towards making the crypto tax domain simple for the NEAR and the general crypto community.