Blockpit ICO Review
|1 TAX = 0.10 EUR
Track your portfolio in real-time, get a personalized tax report, set customized alerts and take part in the development of new features.
Many people have been actively trading cryptocurrencies for years and the number of speculators and investors grows bigger every day, as media attention about this topic rises.
With over 50 different exchange platforms based all over the world and more than 1,500 different coins and tokens traded, it can be hard to keep an overview of split up funds. This can be fatal when tax authorities demand an explanation of your sudden income. Especially since every transaction is seen as a taxable event, even between different cryptocurrencies.
Most countries that demand taxes on cryptocurrency income use the FIFO (first-in-first-out) method to calculate the realized profits. However, depending on the country of residence there may be other forms of calculations applicable. With the rising popularity of cryptocurrencies many governments see the need for stronger regulation. At the same time fiscal authorities spend an increasing amount of resources to research the blockchain and track down transaction paths.
The average user might not be aware of the financial fraud he or she is eventually committing, or is simply not able to get a clear documentation of his or her trading history to prove the source of income. To deliver a solution to this problem, Blockpit provides a monitoring platform combining all sources of cryptocurrency income into one complete record. Including but not limited to trading profits, mining income, ICO participation, hardforks, airdrops, master nodes and more.
The process is a one-time setup, where read-only access to exchanges and blockchains is given by the user via APThey and public keys. Past and future transactions are imported in almost real-time to always keep the documentation up to date. Their licensed tax advisory partners are located in multiple countries and offer their seal of approval to liquidate risk of financial fraud with the click of a button.
Their vision is to offer a standardized, secure, precise and automated tax preparation process and offer an ecosystem for licenced tax advisors to connect to. This will ultimately result in a convenient and legal way to handle cryptocurrency taxes for our users.
|Q1 2018: Release whitepaper v1
iOS and Android app closed beta
Binance, Kraken, Bitfinex & Cryptopia import
Corporate pilot projects for Asset Economics
Q2 2018: Release final whitepaper
Active Affiliate System
Release PDF Transaction Report
Formation of Tax Alliance of beta users with institutions in Austria, Germany and Switzerland.
Include KuCoin, Coinfinity, Hitbtc, Livecoin & more
Include BTC/ETH/Erc20 wallet import
Q3 2018: iOS and Android app release
Enable token wallet on platform
Integration of approved tax report
Release Asset Economics tool
Release Portfolio Development Graph
Q4 2018: Include custom alerts system
Include custom tax hints
Expand Tax Alliance in Europe and the US
Include more exchanges
2019: Release API
Include tax calculation for mining & master nodes
Automate calculation for additional occasions (eg airdrops, hardforks, staking)
2020: Expanding partner network
Update to regulation changes