CoinTracker expands its crypto tax solution to Arbitrum, Optimism, and Cosmos

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CoinTracker expands its crypto tax solution to Arbitrum, Optimism, and Cosmos

By Hassan Maishera - min read
  • CoinTracker’s cryptocurrency tax solution is now available on the Arbitrum, Optimism, and Cosmos blockchains.

  • The support is designed to streamline the digital asset tax filing process.

  • The solution will make it easier to sync transactions across these blockchains. 

CoinTracker’s solution is now available on three blockchains

CoinTracker, the market leader in cryptocurrency tax and portfolio tracking for consumers, announced on Thursday, February 16th, that it had added support for Arbitrum, Optimism, and Cosmos. 

In a press release shared with Coinjournal, CoinTracker said starting today, users across these chains are now equipped with its seamless crypto tax filing and portfolio tracking solution.

The company added that the support is designed to streamline the digital asset tax filing process and enable the use of cryptocurrency with peace of mind. CoinTracker added that the support would protect users across these three chains from manually monitoring complex transactions across these blockchains.

The support for these three blockchains comes thanks to their massive record over the past few months. According to CoinTracker, Arbitrum and Optimism now combine to process more transaction volume than Ethereum, with their combined total value locked (TVL) representing almost 80% of the entire Layer-2 ecosystem. 

Furthermore, Cosmos has become one of the leading chains within the blockchain ecosystem and houses some of the most popular decentralised exchanges, including Osmosis. 

CoinTracker seeks to help users calculate crypto taxes

While commenting on this latest cryptocurrency news, Vera Tzekovenia, COO at CoinTracker, said;

“At CoinTracker, we’re laser-focused on building products so users can track all crypto activity quickly with ease, regardless of the platform or token. We’re thrilled to widen our integration breadth even further and specifically deepen our product focus on the sovereign future — building robust chain integrations so that users can explore these crypto innovations with peace of mind.”

The CoinTracker solution will provide support to the three blockchains in the following ways;

  • Arbitrum Automatic Sync: automatically sync transactions on Arbitrum, including new transactions as they occur.

  • Optimism Automatic Sync:  automatically sync user transactions on Optimism, including new transactions as they occur.

  • Cosmos Automatic Sync: import user activity from the Cosmos Hub and automatically tag any ATOM staking rewards.

The Cosmos and Optimism coins have been performing well over the last 24 hours. At press time, the price of Cosmos stands at $13.86, up by more than 2% in the last 24 hours. Meanwhile, Optimism has added more than 13% to its value so far today.

CoinTracker is a leading crypto portfolio tracking and tax compliance solution provider for consumers. The company leverages the best technology and partnerships to deliver the highest level of accuracy, simplicity and value year-round.