We are pleased to announce that cryptact now supports wallet address syncing and profit and loss calculation for Cardano.
Once a wallet address on a blockchain supported by cryptact’s DeFi features is synced, deposit and withdrawal history is imported automatically, and selecting the transaction type is all it takes to calculate tax-related gains and losses. This eliminates the need to build transaction records by hand or in spreadsheets, making day-to-day P&L tracking and tax filing significantly more accurate.
Once a wallet address on a blockchain supported by cryptact’s DeFi features is synced, deposit and withdrawal history is imported automatically, and calculating tax-related gains and losses is as simple as selecting the transaction type. This eliminates the need to build transaction records by hand or in spreadsheets, so users can handle day-to-day P&L tracking and tax filing quickly and accurately.
Automatic identification of DeFi transactions will be supported progressively based on user demand.
For more information about these DeFi features, please see the Help pages below.
DeFi: User Guide for cryptact’s DeFi Feature
DeFi: Our Support Guidelines for DeFi
Going forward, cryptact will continue to expand support for the latest blockchains and scalability solutions, delivering seamless profit and loss calculations .
About Cardano
Cardano is a proof-of-stake Layer 1 blockchain developed in 2017. It uses the Ouroboros consensus protocol, an energy-efficient mechanism in which validators are selected based on their staked ADA to produce blocks. Cardano employs an Extended Unspent Transaction Output (eUTXO) model, which builds on Bitcoin’s UTXO architecture to combine its security and predictability with the programmability of smart contracts. The native token, ADA, is used for staking, governance participation, and transaction fees.
Cardano: https://cardano.org/
Cardano Foundation: https://cardanofoundation.org/
Contacts:
pr@pafin.com
