Kryptofolio+tax is a free FIFO (First-In, First-Out) profit, loss, and tax calculator that can be adjusted to show results for different crypto and fiat currencies and help you manage all your cryptocurrency transactions.
Unlike many other portfolio managers, it is privacy-centric and does not require you to upload your transactions to the web. Read our objective Kryptofolio+tax review to find out whether this pocket assistant has everything you need to manage your taxes.
How Kryptofolio+tax Works
Kryptofolio+tax is a tax calculator app for cryptocurrency transactions. It can help you calculate losses, taxes, and profits for transactions made with different cryptocurrencies. The app is free and can be downloaded and installed on many different devices. It is compatible with Mac, Windows, Windows Phone, Linux, iOS, Android, and even Blackberry, so you can use it on various smartphones, tablets, and computers.
You do not have to register in order to use the Kryptofolio+tax app. To perform calculations and make a portfolio, it just needs the details of your transactions. You can choose between three different ways to import your transaction data.
Firstly, you can export your transaction information from the blockchain by establishing communication with www.blockchain.info directly through the app. However, keep in mind that this is the least secure option, as it involves accessing your transaction information online.
Secondly, you can copy transaction information from your cryptocurrency wallet to CSV format and send it via email. Finally, you can scan the QR code of your transaction if you are using the Kryptofolio+tax app on your smartphone.
In addition to these three types of importing transaction data, Kryptofolio+tax is currently working on developing a Dropbox solution. Once you enter your transaction details in Kryptofolio+tax, you can choose the fiat currency and start calculating profits and losses.
Kryptofolio+tax lets you keep track of your capital gains by analyzing all your transactions for a specific time frame. It can perform calculations for various types of taxes and it allows you to adjust the settings in accordance with your location.
This well-equipped portfolio manager supports various fiat and cryptocurrencies. You can get your tax calculations in USD, GBP, EUR, CNY, CHF, and RUB or add any custom currency to the platform. When it comes to cryptocurrencies, Kryptofolio+tax works with Bitcoin and many other cryptocurrencies.
Kryptofolio+tax uses different features to provide you with an overall review of your past cryptocurrency transactions and help you improve your cryptocurrency investing plans in the future.
You can use the Market Dashboard for a detailed insight into your portfolio. It shows the total amount of the cryptocurrency you have and its current price on the market. Furthermore, Market Dashboard provides profit and loss (PnL) information. Unrealized PnL indicates how much you would earn or lose if you sold your coins. PnL to Date shows the total you made on all your transactions until the present day. Market Dashboard also offers information about the current selling and buying price of a certain cryptocurrency.
The Kryptofolio+tax app provides calculations for different types of transactions such as purchase, sale or exchange. You can also see how much you earned via mining, all the coins you gave to someone or received as a gift, and all wallet transfers you made. It also informs you how much you lost in various transfers, as well as any taxes you already paid.
The app allows you to classify transaction data in any way you see fit. Additionally, it provides the Summary and Position Screen that can give you a better insight into your balance. There is also the Logs Screen which allows you to view various logs with the possibility of applying date range and transaction type filters. It comprises Transaction Summary, Coin Summary, Cash History, Tax Summary, and Unclassified Transactions screens. The Logs Screen can also be used for exporting transaction data. With Kryptofolio+tax, you can save your transaction data in CVS, XML, and PDF formats.
Privacy & Security
All the data you import is saved on your device only, making your transaction details completely private.
The app can access your transactions via the Internet only if you enable that option. You can connect to the blockchain through the app, but it’s not necessary since you can import the data via email or by scanning QR code, as we previously mentioned in this Kryptofolio+tax review.
Future versions of Kryptofolio+tax are to include the option of storing your transaction information on your private cloud account through external services such as Dropbox, enabling you to access your transactions from a number of devices. Due to security reasons, this feature will only be enabled with your permission.
- Compatible with almost any device
- Numerous crypto and fiat currencies supported
- Different data import methods available
- Doesn’t require creating an account
- Data stored on your device only
- Secure and privacy-oriented
- Can’t be used for tax reports