Portfolio Management Software for strategic cryptotrading
A documentation of one’ s own cryptocurrency transactions is not only important for the tax authorities, but also for the overview of bought and sold coins. The Blockpit platform already offers an easy to understand overlook. By providing information on active tranches, Version 1 of the Blockpit platform now also enables strategic support on the purchase and sale of Bitcoins and co.
What are active tranches?
Active tranches indicate unsold coins on your exchanges. This means that all coins you currently have in your wallets will be displayed (provided they have been entered in the Blockpit platform). For each tranche there exists information on the date of purchase or exchange. You can also see the gains or losses a realization of this tranche would trigger.
Active tranches in the Blockpit platform
Under “Active Tranches” in the menu bar of the web app you can find an overview of your transactions or tranches. The relevant information in the table here is since when you own the coins (“owned since”). If no data is displayed under the menu item, you have either sold all your tranches or you have not yet created or implemented any widgets and transactions on Blockpit. Then simply start by entering your data in the Blockpit platform to get an overview of your tranches. If the displayed coins under active tranches do not match the actual coins remaining in your balances, this is a good indicator that some transactions might still be missing in the documentation.
Another important note: Depending on the chosen calculation method, different coins (e.g. the oldest coin (FIFO), the newest coin (LIFO) or the coin with the highest acquisition cost (HIFO)) can be the next in line.
Why is the overview of active tranches relevant?
In many countries, cryptocurrencies fall under a speculation period. This means that coins you own after this period will no longer be taxed. In Austria and Germany, for example, this period is one year. In the overview of your tranches you can see how long you already own coins and consequently when they fall out of the tax-relevant speculation period.
Before you carry out a new transaction, take a look at your open tranches and decide which coins you want to sell or exchange. In this way you can avoid the tax liability on some coins and optimise your tax return.
For companies: The speculation period does not apply to businesses. If, for example, trades are carried out within the framework of a limited liability company specialising in dealing with cryptocurrencies, every trade is taxable. As a result, even active tranches are not relevant in this respect.
Help Center
If further questions arise outside the Blockpit platform, the Blockpit Help Center will assist you. In the different categories questions about the Blockpit platform, the affiliate system, privacy and tax information are answered. We are constantly updating the answers and adding new questions. Of course, our personal support also offers help with individual errors and problems. If you are missing important questions in the Help Center that might be of interest to other users, we are looking forward to your feedback and the expansion of our Help Center.
If none of this helps you, just write us at support@blockpit.io. Please always send us your widget ID (you will find it at the end of the url when you are in the widget) and a screenshot so that we can help you even faster.
Get started now: Explore your active tranches
For more information visit us on: https://blockpit.io
Or on our channels:
Telegram + Facebook + Twitter + LinkedIn +Reddit + Youtube
Originally published at blog.blockpit.io
