Asset tracking has become a popular topic with governments now catching up to the crypto space. New rules and regulations are being pushed forward that have implications for all crypto traders, particularly when it comes to filing your taxes. The need for better tracking of your assets is no longer just a convenience but a necessity. Making sense of (and keeping up with) the new financial regulations that govern your trade activity can be a real mess if you’re a do-it-yourselfer. For this reason, many of our customers have opted to outsource these tax-related headaches to an accountant or a tax preparation service like, we’ve wrote about in a previous post, HappyTax.
More companies are emerging every day in the crypto space that are familiar with the cryptocurrency tax laws for your region. While these companies are hard at work competing for your business, they all have a shared need for your trade history data. Without this information, no accountant or tax preparation service can adequately do their job.
While the level of detail required by your tax preparer will undoubtedly depend on several factors, you can generally expect any worthwhile service filing on your behalf will want as much detail as possible. This means the responsibility of having (and being able to provide) your trade history to such a person/company is entirely on you. This can become quite a headache, especially when you are trading multiple coins in as many or more wallets, and all on various exchanges.
Addressing the Tracking Issues
To help address this trade history problem we have introduced the detailed Portfolio feature, which is available inside HaasOnline Trade Server. This feature is designed to provide you with better tracking capabilities for all your coins, whether you’re actively trading or just hodling; improved tracking insight means better management. With the portfolio feature, you can easily monitor your crypto related assets and investments on every exchange you’ve connected to HTS.
We didn’t just stop there though. We often need to keep track of wallets not connected to our exchange accounts. This is why we included the ability to track external wallets as well. Simply add your external wallet address to view and include its activity.
Keep in mind that we can’t fully recommend using our portfolio feature as your primary source of data for your entire crypto activity; if you do, you do so at your own risk. Not all of the records from each of your sources (i.e. exchange, wallet, etc.) included all your trade activity or data, and that’s why we can’t guarantee that all the information used with this feature is 100% complete or accurate at any given moment. It is for this reason that we plan to incorporate a means of manually adding data to this feature in the future; in the hopes of enabling you to have a more complete picture of your crypto finances.
Watch as Raynaldo, our chief communications officer, walks you through the bulk of this exciting new feature that replaces our old wallet asset view. Learn how shis new feature allows you to not only have granular control of the data that’s displayed in your HaasBot portfolio, but just how much deeper insight into your trade metrics you can now go.
The HaasOnline Team