Identify, track and organize all of your crypto activity across hundreds of exchanges, blockchains and wallets with ease.
Degen-proof DeFi support
It’s time to manage your degen investments.
Frequently asked questions
01.
What is DeFi?
DeFi stands for ‘decentralized finance’, and is a collection of digital assets, smart contracts, protocols and dApps built on the blockchain.
02.
What’s the difference between DeFi and traditional finance?
Decentralized finance is about taking the middleman out of the financial process, lowering costs, or increasing returns for consumers. Users can take part in typical financial activity without ever having to go through a financial institution.
03.
Can DeFi activity be taxed?
Given how new the DeFi space is and how quickly it is changing, many governments haven’t come up with specific tax laws to cover all the cases yet. Each government has a different approach to DeFi activity taxes, so it’s best to ask your local tax professional for guidance so you can categorize the transactions appropriately.
04.
How does CTC deal with DeFi activity?
No matter what you are doing with DeFi, you have to keep a record of it for tax purposes and calculate the tax you owe based on each transaction. Our app helps to unify your records from all your crypto accounts and platforms, making the classification process much easier.