Welcome to CryptoTradeMatcher.com
This site was designed to introduce a tool that will make preparing your taxes on cryptocurrencies a little easier.
Currently we have software, a transaction matching engine, which will match your trading transactions into tax lots and produce the required reports for US taxpayers. This tool is in beta and is offered for free use. It is very useful for someone that has a grasp on the overall process and can understand when to use this tool to do the heavy lifting.
Here is a quick demo video showing the program at work. It “consumes” a list of transaction events and produces the required reports.
The “rub” here is that this tool will provide good results IF you can transform your data into the required input formula.
Currently this requires a user to shepherd the data they may have from wallets and exchanges into the format the program consumes. The program requires a timestamp, a transaction side which currently is delineated into a Buy or Sell (B or S), a currency quantity, a currency symbol and an amount in the fiat currency being produce ( i.e. a dollar value for the event).
Short version: You need a CSV file with five columns (Timestamp,Side,CoinQuantity,CoinSymbol,DollarValue)
If all you did was trade fiat currency for cryptocurrency, it would be relatively easy to massage the data which should be available from your exchange to this format.
However, where you did coin to coin transactions, typically the line for such a transaction from your exchange would need to be “unrolled” into two lines. A sell line for the sent coin and a buy line for the received coin. Also in those cases, you would need to apply a FMV at that time stamp for those lines as the exchange ordinarily would not have captured those for you.
Thus if you had five lines of coin to coin swaps or trades you would unroll those to 10 lines of buys and sells and have to supply a FMV (fair market value) for those in your dataset from a historical price source in order to change your items into the format to be consumed by the matching engine.
If you understand this process and feel it might meet your needs, please email us at :
cryptotradematcher at gmail dot com
and we will happy to try and make sure you understand the use case and then get you a copy of the software for your use.