BingX and CoinTracking revolutionise crypto tax reporting in strategic alliance

BingX and CoinTracking revolutionise crypto tax reporting in strategic alliance

BingX, a prominent global cryptocurrency exchange, has revealed its new collaboration with CoinTracking, the renowned cryptocurrency portfolio management and tax reporting platform.

BingX, which provides services such as spot, derivatives, copy, and grid trading, stands out as a top player in the crypto market with over five million users across more than 100 countries and regions worldwide. CoinTracking, on the other hand, has made its mark as a comprehensive crypto portfolio tracker and tax software provider, lauded for its user-friendly interface and wide-ranging features.

The partnership is a strategic move with the primary goal of offering BingX users a streamlined system for keeping tabs on their cryptocurrency investments and generating precise tax reports. This liaison is anticipated to merge the complex worlds of crypto trading and tax compliance, rendering a more accessible and compliant trading atmosphere.

BingX’s strength lies in its diverse services such as spot, derivatives, copy, and grid trading. It leverages its innovative approach to connect its extensive user base with seasoned traders in a secure environment. CoinTracking, in contrast, provides a robust platform to track crypto portfolios, monitor market prices in real time, and produce precise tax reports. By aligning with BingX, CoinTracking’s functionalities are set to be amplified, providing users a smooth way to import transaction data and categorise taxable events automatically.

Additionally, BingX users can now access CoinTracking’s powerful tool that simplifies the tax filing process and assures adherence to the evolving tax regulations. It aids in generating meticulous reports on capital gains, losses, income, and other taxable events, ensuring a smooth tax filing experience.

CoinTracking Business Development Head, Malte Harwardt said, “Crypto tax laws are continuously changing, putting pressure on the shoulders of crypto investors to be on top of changes and be fully aligned. Fortunately, tools like CoinTracking make it easy to achieve full tax compliance.

“We’re excited to bring those capabilities to BingX ecosystem with our new Excel importer. We encourage all BingX users to import their trades into CoinTracking, get their gains automatically calculated, and generate the right tax forms for crypto. This is only the beginning of an exciting partnership between two leading crypto brands!”

PR and Communications Director of BingX, Elvisco Carrington, noted, “The partnership between BingX and CoinTracking represents a significant step towards bridging the gap between cryptocurrency trading and tax compliance. Our integration with CoinTracking reinforces our commitment to offering our users a reliable and user-friendly platform that addresses their diverse needs. By offering users a convenient and reliable solution for tax reporting, BingX is further strengthening its commitment to providing a transparent and compliant trading environment.”

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