CoinLedger to Be Integrated with ‘Polygon’
CoinLedger, a well-known tax reporting venue for Crypto, NFT, and DeFi consumers, declared today that it is moving to be formally integrated with the blockchain platform Polygon (MATIC). The customers who communicate with Polygon through decentralized wallets and applications are not capable of importing the transaction history straightly to CoinLedger for the automation of the entirety of their capital gains, reporting of income tax, as well as losses.
The CEO and co-founder of CoinLedger, David Kemmerer, stated that they are enthusiastic to have an expansion in their accounting and tax reporting capabilities to the ecosystem of Polygon. The cumulative sum of applications to be manufactured on Polygon as well as the transaction volume is surprising. He added that they are eager to assist in unlocking additional innovation across the ecosystem by minimizing the resistance related to the transactions on Polygon, via the provision of smooth tax reporting.
The digital assets and crypto’s interoperable nature, with transactions throughout diverse blockchains such as Polygon, can turn the operations like tax reporting into considerably difficult tasks, especially in the case of individuals. With CoinLedger, the respective issue has been solved as the direct integration with the prominent exchanges, blockchains, and wallets permit any crypto consumer to track the transaction history of the digital assets throughout the crypto-economy of cryptocurrency.
By merely copying/pasting the address of their public wallet on Polygon to CoinLedger, the customers can at present import as well as account for the entirety of the historical transfers just by clicking a button. That is the point from which comprehensive capital gains, income tax reports, and losses can be generated by them.
About CoinLedger
CoinLedger permits easy tax reporting for the people participating in the economy based on digital assets. After its establishment in 2018, CoinLedger aimed to minimize the resistance while taking part in the ecosystem of cryptocurrencies by bringing ease in tax reporting to a considerable extent. By a straight integration with well-known exchanges, NFT, blockchains, and wallet venues, a unified dashboard is offered by CoinLedger for the consumers to monitor as well as track the crypto operations.
About Polygon
Polygon is known as a network based on layer 2, pursuing to assist in the scaling of Ethereum. Via diverse solutions, the developers are permitted by Polygon to construct user-friendly and scalable decentralized apps that have low transfer charges with making no sacrifice in terms of security. At the moment, more than 19,000 decentralized applications utilize Polygon to assist in scaling the performance.
