Taxation In The Age Of DeFi – Where To Start? By CoinQuora

Taxation In The Age Of DeFi – Where To Start?

CryptocurrencyJun 22, 2021 01:00PM ET

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Taxation In The Age Of DeFi – Where To Start?

CryptoTaxCalculator platform helps users gain better insights about DeFi-related taxes, incomes, and potential losses.
The CryptoTaxCalculator platform allows users to add data from hundreds of sources like spanning exchanges, blockchains, and wallets.

The popularity of decentralized finance continues to accelerate globally. However,it is pertinent for users to understand the tax consequences yield farming, lending, borrowing, and liquidity pools may have. Figuring out all of these aspects is crucial, yet the right tools can help one on their way relatively quickly.

DeFi And Taxes Are An Interesting Combination

Given the sheer number of opportunities to make money in the DeFi industry, many people overlook one crucial aspect. Any capital gains stemming from cryptocurrencies are likely to be part of one’s annual tax report. However, as users switch between protocols, platforms, and providers chasing the most lucrative returns on investment, it quickly becomes overwhelming to backtrack everything for taxation purposes.

For those who are unaware, DeFi taxes come in

This article was first published on coinquora.com

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Taxation In The Age Of DeFi – Where To Start?

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