Resources/product-updates/Product update - 6th June 2022

Product update - 6th June 2022

New Features

New Category: Bridge

We have added the ability to manually categorize bridging transactions. For every bridging transaction, the cost base of the asset on Blockchain A will be transferred to Blockchain B.

If you’d like to read about the fine details of the newly implemented Bridge category, please read this help document. The key details can also be found below:

  • For every Bridge In, there must be a Bridge Out, and vice versa
  • The asset sent and the asset received from the bridge do not have to be the same asset - however their value must be equivalent

Saved blockchain addresses

Do you frequently interact with a particular address or smart contract? Would you like to be able to name the wallet which you’re interacting with, without having to import its transaction data?

You are now able to name blockchain addresses by simply clicking on any unknown blockchain address visible in the review transactions page. Upon clicking on the address, a pop-up will appear to save this known wallet. You are also able to rename and delete any saved addresses.

Dashboard now shows reported balance + new holdings dropdown

Previously, the figures on the Dashboard page were the CTC Calculated Balances. After this most recent update, the dashboard now shows your Reported Holdings where possible. Reported Holdings refers to the value and amount of currencies being held by your wallet/exchange according to the wallet/exchange themselves.

The difference between these 2 values can now be found on the balance dropdown for reconciliation purposes, see the image above. Not only is this dropdown also accessible for each wallet/exchange on the Import Data page, but also for each asset on the Dashboard.

As a part of this update, the Display Import Balance toggle in the settings page has been removed, since this data is now visible via the import balance dropdown.

Import all EVM addresses at once

When you are importing an EVM wallet, you are now given the ability to import all of your EVM wallets (Arbitrum, Avalanche, Binance Smart Chain, Cronos, Ethereum, Fantom, Optimism, Polygon, xDai).

If the toggle is enabled, we will import every EVM chain with transactions for that particular address, and ignore the EVM chains without any. This toggle does not impact syncing, hard-syncing or deleting wallets.

Support for Coinbase API imports

Coinbase users are now able to import their Coinbase transaction data via CSV, API and OAuth connection. If you have multiple Coinbase accounts to import into CTC, you are now able to do so via our new API integration, as you can add multiple API keys. Note that you are only able to select one of these three import methods.

NFT Royalties tax toggle

You are now able to select whether incoming NFT Royalties should be treated as income or not for tax purposes. We recommend getting professional tax advice if you are unsure of what setting this toggle should be on.

Accountants can now create + invite clients for free

Rather than having to pay upon generating a new client, accountants are now able to create new clients for free. Payment is only required once accountants wish to generate a client’s report. This means that accountants are now able to invite their client, import their data, review their transactions and collaborate with their client before making any payment.

If the accountant then invites an already paying CTC user, the user will continue being billed despite both the accountant and client now having the ability to access the client’s data, including the Get Report page. No need to pay twice.

Integrations

Since our last product newsletter, we have added support for the following exchanges:

  • Support for FTX US NFTs via both API and CSV
  • Support for Kucoin margin trades
  • Support for BTC .com.au's new CSV format
  • Support for Coinbase Pro's new CSV format
  • Support for Coinlist's new CSV format
  • Support for Bitso CSV

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Cryptotaxcalculator disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or Consequential Loss or damage) arising out of, or in connection with, any use or reliance on the information or advice in this website. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information in this website is no substitute for specialist advice.

Shane Brunette

CEO

Shane Brunette founded CTC back in 2018 after dealing with his own crypto tax nightmare. He has worked closely with accountants and tax lawyers to make it easy for fellow cryptocurrency users to be tax compliant.

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