Ledgible rates 5 stars for anyone who needs a crypto data solution

Ledgible offers a 5-star rating for institutions, businesses and investors who need a crypto data solution.

As crypto gains worldwide adoption and attention, there is increased focus and scrutiny from regulators. Tax payment for crypto is mandatory in most countries, with no global regulation for cryptocurrency, leaving many investors and institutions to fend for themselves.

Although crypto tax rates differ globally, most nations have imposed taxes on crypto. Trading crypto, using it to pay for goods or services, holding it as an investment, or using it in other ways all have potential tax consequences. Delays in tax payments can also lead to tax penalties, urging everyone to get on top of their crypto tax obligations as soon as possible.

But how can you calculate your tax liabilities? If you are a day trader, an institution, a business or an ordinary investor, it is very difficult to calculate your tax liability with thousands of transactions without help.

That’s where Ledgible’s platform comes in to save the day. With Ledgible, the crypto tax calculation process is simplified and automated on the application, which can handle taxes for individuals, entire tax firms with hundreds to thousands of clients, and even at the institutional and corporate level for businesses dealing with crypto.

What is Ledgible?

Lesbar was established in 2016. The platform was developed by a team of crypto and tax experts with the goal of simplifying crypto taxation. The Ledgible platform works globally for accounting, while the tax products focus on the US tax code, but can be adapted to serve other countries’ tax codes as needed.

Ledgible is a cryptocurrency accounting and tax solutions platform established in the US, designed by the specialists at Ledgible with professionals, businesses and crypto investors in mind. Ledgible offers its customers an industry-leading crypto tax solution.

The platform offers two primary platforms with a focus on different user areas, tax and accounting. Ledgible crypto tax platform easily determines and calculates crypto liabilities for users. It automatically provides a basic set of data such as wallet balance, capital gains, losses and exchange orders.

Also, it is one of the only platforms that is SOC 1 & 2 Type 2 audited, which means it is one of the most secure tools on the market. To expand its tax and accounting platform with a focus on cryptocurrencies, the company just closed a $20 million Series A funding round in June 2022.

The business will use the fundraising round to strengthen its position as a link between conventional finance and cryptocurrencies and to provide cryptocurrency investors and traders with a clearer picture of tax reporting and portfolio management.

“Ledgible offers live support for every client, from the smallest investor to the largest institution. Aggregating, normalizing and ingesting crypto data into your workflows doesn’t have to be difficult – Ledgible is here for you.”

Trevor English, VP, Ledgible

What does Ledgible offer its users?

For both individual investors, tax intermediaries as well as corporate clients, Ledgible Crypto Tax offers a variety of reports. Users can also use it for easy journaling to keep track of their crypto holdings year-round. These are Ledgible’s three main products.

• Ledgible crypto tax for individuals

It is a tax product aimed at individual filers. This offer is available to anyone who has to pay taxes on their cryptocurrency holdings. With sophisticated manual entry, file import and API options, users can add their data sources, making them more capable than many of Ledgible’s rivals.

Ledgible also offers a current annual plan and a crypto portfolio dashboard. It allows for monitoring and tracking of annual crypto activity through asset analysis and disposal. What’s even better is that crypto tracking with Ledgible is 100% free. You only pay for the tax notices during the tax season.

It allows users to add crypto transactions from any wallet or exchange. Additionally, you can also add your natively supported wallets and exchanges via the API integrations. This allows automatic transaction synchronization.

• Ledgible Crypto Tax Pro

This product is intended for use by tax professionals, accountants and law firms. The platform enables tax professionals to quickly gather client information, prepare reports and manage tax registration in a single tool.

It effectively gives tax professionals and accounting firms the ability to have direct access to any writable crypto tax report used by their clients, a bit of functionality that no other crypto tax product offers. This process is intended to make the crypto tax filing process as easy as possible for CPAs, accountants and tax professionals.

• Ledgible crypto accounts

Ledgible Accounting makes cryptocurrency bookkeeping and business management easy. It provides a variety of reports to handle any situation, from asset balances to profit or loss reporting. These reports include capital gains and losses, transaction downloads, OFX reports, exchange orders and wallet balances.

It also has integrations with all tax and accounting software (Quickbooks, Xero, TurboTax, UltraTax, CCH Axcess, etc.)

Ledgible Accounting is also used by some of the country’s largest institutions and fintech providers, such as FIS, Thomson Reuters and large American banks.

Flexible fees

Ledgible’s products have variable pricing. All three services are priced differently, based on user needs.

Crypto tax

Users can use this product for free throughout the year. Users get free access to all the product’s functions. You are only charged if you need to view or download your reports. CryptoTax starts at $49 for tax year reporting and up to 200 transactions.

The price is based on the number of transactions. Users can access 200-1000 transactions for an additional fee of $50, and an additional fee of $100 for each set of 2500 transactions over 1000.

Crypto accounting

Businesses can start a 30-day free trial of this service. After the trial period, if businesses are satisfied and want to continue, the Ledgible team works to create a customized plan to meet users’ requirements.

Crypto tax pro

This crypto tax platform for professionals provides tax professionals with both paid and free plans. It allows accountants and businesses to offer their crypto advisory and tax planning services in addition to standard crypto tax filing. To get started, tax professionals just need to fill out this form.

“The Ledgible crypto tax and accounting platform offers best-in-class crypto reporting – which is why it’s trusted by some of the biggest institutions in the world. The best part? Whether you’re a retail investor, a tax professional or a leading institution, we have a solution for you.”

Holly Swirtz, VP of TAP Sales

Final thoughts

Analyzing and evaluating each transaction for tax reporting is a pain if you are a crypto trader, tax expert, institution or investor and do not have the support of platforms like Ledgible. Ledgible’s easy-to-use platform helps tax professionals, taxpayers and companies collect, normalize and make cryptographic data understandable for tax reporting.

Ledgible also works with leading financial players, including FIS, US Bank, FISERV, Thomson Reuters and Silvergate. Ledgible should be your first choice if you are looking for a platform that can track your transactions, produce reports and protect your data.

FAQ

Follow them on social media to keep up to date:

Website | Twitter | Facebook

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action the reader takes on the information contained on our website is strictly at their own risk.