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We are excited to announce that Kryptos, a portfolio tracking and crypto tax software is now available for Arbitrum – One and Nova. As the app goes live on the network, it&#39;s set to transform how users currently deal with Arbitrum taxes and boost further crypto adoption.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/3650be95347542619d697ba08edfd884.png" />About Arbitrum OneArbitrum One is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs. An Optimistic Rollup, Arbitrum One provides ultra-fast, low-cost transactions with security derived from Ethereum.Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 65%&#43; TVL in the L2 segment. 400&#43; DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.About Arbitrum NovaAn AnyTrust solution, Arbitrum Nova is a Ethereum Layer-2 scaling solution ideal for gaming, metaverse and socialfi projects, enabling instant confirmation and &lt;$0.01 transactions with minimal trust assumptions. Since August 2022, Arbitrum Nova has been the home for Reddit community token holders from r/Cryptocurrency and r/FortniteBR.And now with Kryptos, managing your taxable digital assets across these 400&#43; DeFi and NFT projects live on Arbitrum has never been easier.Why Kryptos?There were up to 83.4 million registered blockchain wallets in <a href="https://techjury.net/blog/blockchain-statistics/" rel="noopener noreferrer nofollow">2022</a> with more than 247,968 transactions every day. With so many crypto transactions happening around the world, taxes still remain a grey area.Kryptos&#39;s fast, simple, and reliable crypto tax solution to overcome this hurdle. The app empowers crypto users with the necessary tools to easily manage their assets and sort all the legal compliances.The crypto tax software serves crypto investors, enterprises, and public institutions with a wide range of integrations – supporting more than 2000&#43; DeFi protocols, 50&#43; Blockchains, 100&#43; wallets &amp; exchanges, and even NFTs &amp; DeFi protocols.So whether one is staking or lending, or if the portfolio includes NFTs or DeFi – the platform allows users to manage all transactions in one place and calculates crypto taxes automatically in minutes.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0fc91c76c92547bab1c228cb7278a013.png" />“We are so excited to announce our integration with Arbitrum, a powerful layer 2 scaling solution for Ethereum. By integrating our crypto tax software with Arbitrum&#39;s wallet, we are enabling crypto users to simplify taxes and leverage tax benefits to enjoy a maximum of their Arbitrum assets. This integration also reflects our commitment to providing up-to-date and reliable tax support for our users.&#34; — <a href="https://www.linkedin.com/search/results/all/?fetchDeterministicClustersOnly&#61;true&amp;heroEntityKey&#61;urn%3Ali%3Afsd_profile%3AACoAAAR1D_gBMKBQ77uk5KXAwSroNL-WqlHACOs&amp;keywords&#61;sukesh%20kumar%20tedla&amp;origin&#61;RICH_QUERY_SUGGESTION&amp;position&#61;0&amp;searchId&#61;344b4a23-4265-4f72-ac96-a0bae4bd6401&amp;sid&#61;xcA" rel="noopener noreferrer nofollow">Sukesh Kumar Tedla</a>, Founder &amp; CEO of Kryptos.Kryptos Simplifies Crypto Taxes For ArbitrumPacked with multiple features like auto-detection of transactions and tax-loss harvesting, the crypto tax software optimizes tax savings and ensures users never pay extra.Integration SupportApart from the massive integration support of 1000&#43; DeFi protocols and over 50&#43; blockchains, Kryptos allows users to auto-import wallet transactions through Direct API or CSV files.Portfolio ManagementFeatures like intelligent detection and categorizing of the transactions provide accurate analysis of these transactions, simplifying portfolio management. Users also get dedicated DeFi and NFT dashboards.Tax SavingThe app comes with inbuilt mechanisms that not just calculate tax liability but also recognize tax-saving events. This helps users save maximum taxes which otherwise may be missed out.Legal ComplianceOnce the wallets are auto-imported, users can access their portfolio and applicable taxes right from their dashboard. The app also allows users to download crypto tax reports that comply with their local country laws.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9aef8939c77f4b0a8cff94c3adeb2cd4.gif" />Crypto taxes are complicated, but not anymore. The Arbitrum integration is live on the Kryptos application and can be easily completed in just a few steps. For further details, refer to our guide <a href="https://kryptos.io/integrations/arbitrum" rel="noopener noreferrer nofollow">here</a>.If you would like to calculate your crypto taxes, <a href="https://app.kryptos.io/signup" rel="noopener noreferrer nofollow">Sign Up</a> on Kryptos now and avoid last-minute tax surprises.Key Resources:<a href="https://kryptoskatt.com/integrations/arbitrum" rel="noopener noreferrer nofollow">Arbitrum Integration Guide</a><a href="https://kryptoskatt.com/integrations/arbitrumnova" rel="noopener noreferrer nofollow">Arbitrum Nova Integration Guide</a><a href="https://kryptoskatt.com/guides" rel="noopener noreferrer nofollow">Crypto Tax Guides For Different Countries</a>

Kryptos Goes Live On Arbitrum, Simplifies Crypto Taxes For The Layer-2 Solution

Kryptos Goes Live On Arbitrum, Simplifies Crypto Taxes For The Layer-2 Solution

Kryptos

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Kryptos Goes Live On Arbitrum, Simplifies Crypto Taxes For The Layer-2 Solution

Kryptos

Other articles published on Jun 14, 2023

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