Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, recently announced it has joined forces with cryptocurrency tax software platform TaxBit to provide its users with completed cryptocurrency tax reports and tools to better monitor and optimize tax reporting.
According to Gemini, TaxBit’s Tax Center Suites provides users tools to monitor and lower their tax liability, or even potentially increase their tax refund, while using Gemini throughout the year.
“Users will be able to see the real-time tax impact of their transactions, as well as receive trade alerts when tax saving opportunities are available.”
Speaking about the collaboration, Tyler Winklevoss, CEO of Gemini, stated:
“TaxBit’s software automates the calculations required for crypto tax reporting, helping reduce the pain point of crypto tax for our users. Investors will also be able to see real-time tax implications of any trades they make on Gemini.”
Founded in 2014, Gemini describes itself as a next-generation cryptocurrency and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether.
“Gemini is building a bridge to the future of money. We offer an industry-leading suite of crypto-native products and tools for individuals and institutions; enabling them to grow, manage, and use cryptocurrency holdings with world-class security, compliance, and customer experience.”