Coinpanda

How I Launched A $35K/Month App To Calculate Cryptocurrency Taxes Without Knowing How To Code

May 3rd, 2020
Eivind Semb
Founder, Coinpanda
$35K
revenue/mo
1
Founders
5
Employees
Coinpanda
from Oslo, Norway
started June 2018
$35,000
revenue/mo
1
Founders
5
Employees
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Hello! Who are you and what business did you start?

Hi there! My name is Eivind Semb and I’m the founder of Coinpanda. I have developed a portfolio tracker and tax solution for cryptocurrency traders and investors with a heavy focus on ease of use.

Coinpanda offers a 100% free portfolio tracker in addition to a tax solution to help users report their cryptocurrency taxes. Our platform can calculate taxes and capital gains for more than 7,000 cryptocurrencies, and we are integrated with over 100 exchanges, blockchains, and services to support users from all over the world. By upgrading to one of our paid plans, you can download ready-to-file tax forms such as IRS Form 8949 and Schedule D for the United States with the click of a button.

Before the bitcoin and cryptocurrency boom in 2017, a lot of traders and investors did not report their capital gains and holdings because of a lack of regulation and guidelines from tax authorities. However, this has taken a drastic turn in the last couple of years. Tax authorities are now actively looking for people who have bought cryptocurrency. In countries like the US, Australia, Spain, and Denmark, more than 500,000 warning letters have been sent to those not reporting...

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