Nexo Partners Up with Koinly to Make Paying Taxes Less Taxing for Crypto Loan Users!

Nexo Partners with Koinly to Simplify Tax Compliance for its Crypto Loans Platform

## Nexo and Koinly Join Forces: A Match Made in Crypto Heaven

Calling all digital asset investors! Brace yourselves for the most epic collaboration of the century. Nexo, the lending platform that provides instant crypto loans, has joined forces with Koinly to revolutionize the way you handle your taxes. And let me tell you, folks, this partnership is about to simplify your life like never before.

Effective November 30, 2023, Nexo users can say goodbye to the dreaded tax season headaches. Thanks to the power duo of Nexo and Koinly, generating personalized crypto tax reports will be as easy as sipping a Piña Colada on a tropical beach. Say adios to endless hours of number crunching and nerve-wracking calculations—your tax reporting just got a serious upgrade!

But that’s not all, my friends. Strap in, and prepare to have your minds blown. Koinly doesn’t stop at the basics. Oh no, they take it to a whole new level. They understand that each user is unique, just like a snowflake or a fingerprint. With Koinly, you can cater to your specific transaction history and tax obligations through the Nexo app. It’s like having a personal tax accountant in your pocket, ready to tackle any financial challenge that comes your way.

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What’s that, you ask? Don’t worry, I can hear your curious minds buzzing. Well, my fellow investors, Nexo and Koinly have a special treat just for you. They offer custom country-wise tax reports for over 100 jurisdictions. Whether you’re chilling in your villa in Monaco or sipping tea in your London flat, they’ve got you covered. No more frantic Google searches or hair-pulling sessions trying to figure out the tax laws of every corner of the globe. Koinly has your back, and they’re not afraid to show it.

Antoni Trenchev, the co-founder and Managing Partner of Nexo, could not contain his excitement about this partnership. He said, “Our partnership with Koinly reflects our dedication to providing holistic financial solutions and empowering our clients to make informed financial decisions.” Imagine that, folks—a partnership so powerful it can actually empower you to make informed decisions. Now that’s what I call a match made in crypto heaven!

But wait, there’s more! This dream team knows that accuracy is the name of the game when it comes to taxes. And they’ve got your back in that department too. The service automates accurate tax reports, making complicated tax complications a thing of the past. No more fear of human error—it’s like having a Swiss watchmaker meticulously crafting your tax reports with the precision of a master.

Now, I know what you’re thinking. “What’s the catch? How much is this going to cost me?” Well, hold on to your hats because this is the part that will make your heart do a happy dance. Nexo users can avail this service for free up to 800 transactions annually. That’s right, FREE! But let’s say you’re a super big shot with tons of transactions on your hands. Fear not, my friend. Even if you exceed the 800-transaction limit, Koinly offers a generous 30% discount. It’s like having a rich uncle who pays your tax bills. Can I get a “Woohoo!”

Now, let’s take a moment to appreciate just how far Nexo has come in its mission to make your crypto adventures exceptional. They recently launched the Nexo “Dual Mode Crypto” Card—an absolute game-changer for users in the European Economic Area. This little beauty comes with a host of features, including the ability to optimize your tax responsibilities. It’s like having a secret weapon in your pocket—a Swiss Army knife of crypto wonders!

Now, my fellow crypto enthusiasts, let’s get real. We all know the struggles of accounting for crypto gains and losses. It’s enough to give anyone a headache. According to a July IMF report, taxing crypto assets is like trying to unravel a mystery. They’re “pseudonymous,” which sounds like something you’d find in a Sherlock Holmes novel. But fear not! Nexo and Koinly are here to solve this conundrum and bring some peace to your tax-fueled nightmares.

Let’s face it, my friends. We live in a Web3 world, and crypto is taking over the universe. The days of hiding under the metaphorical crypto blanket are long gone. Businesses and individuals alike need to track transactions across multiple blockchains and wallets to properly report those gains and losses. It’s like trying to juggle a thousand ping pong balls while riding a unicycle—a real balancing act. But fear not, young Padawans! Nexo and Koinly are here to guide you through this digital maze with their deep blockchain data integrations. It’s like having a GPS for your crypto tax journey—a trusty sidekick that will never lead you astray.

And let’s not forget the incredible Adam Saville Brown, Head of Partnerships at Koinly. He knows just how monumental this collaboration is. He said, “The collaboration aligns with Koinly’s mission to service the tax needs of crypto investors and with Nexo’s innovative approach in the crypto financial services sector.” It’s like finding the perfect dance partner—the one who knows all the right moves to complement your style.

Oh, and one more thing before we part ways. Nexo isn’t just stopping at tax reporting. They have big plans, my friends. They’re about to drop some serious knowledge bombs with their upcoming educational materials on cryptocurrency tax reporting. It’s like being enrolled in the most exciting virtual crypto boot camp—get ready to level up your tax game like never before!

So, fellow crypto warriors, rejoice! Nexo and Koinly have come together to protect and empower you on your crypto journey. No more tax-season blues or sleepless nights filled with unanswered tax questions. It’s time to take control, elevate your financial game, and conquer the crypto universe with your newfound tax superpowers. The world is yours for the taking!

But hey, that’s just my take on it. What are your thoughts, fellow investors? Will this partnership change the way you handle your crypto taxes? Drop your comments below and let’s dive into this exciting discussion together!

Note: The information provided in this article is for informational purposes only and should not be considered tax advice. Always consult with a professional tax advisor before making any tax-related decisions.

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