LQDFX Forex Broker Review: A Comprehensive Look at Trading Accounts Platforms Tools and More

Introduction

The world of forex trading can be a minefield for inexperienced traders, and having the right broker can make all the difference. One broker that has been generating a lot of interest lately is LQDFX, a Cyprus-based FX and CFD broker that offers traders access to various markets. In this review, we’ll be taking a closer look at LQDFX to help you decide if it’s the right broker for you. We will provide a comprehensive analysis of LQDFX’s trading platforms, account types, trading instruments, spreads, regulations and safety measures, customer support, and other important features.

Forex trading is one of the most popular forms of trading in the financial markets, and LQDFX provides traders with a wide range of forex trading options. The broker offers traders the ability to trade on over 70 currency pairs, including major, minor, and exotic pairs. The forex trading platform is user-friendly and provides traders with all the tools they need to analyze the markets, execute trades, and manage their positions.

Account Types and Trading Platforms

LQDFX offers multiple account types to suit different trading styles and experience levels. These include the Micro, Gold, ECN, Islamic, and VIP accounts. The Micro account is best for novice traders, with a minimum deposit of $20 and a leverage of up to 1:300. The Gold account requires a minimum deposit of $500 and offers additional features such as a dedicated account manager and tighter spreads. The ECN account is designed for experienced traders and offers tight spreads and fast execution speeds. The Islamic account is a swap-free account that complies with Sharia law. The VIP account is for high-volume traders and offers a range of benefits including higher leverage and personalized support.

LQDFX also offers a range of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as a web-based trading platform and a mobile trading app. MT4 is the most widely used trading platform in the forex industry, known for its user-friendly interface, powerful analytical tools, and customization options. MT5 is a newer version of MT4 that offers additional features such as more advanced analytical tools and more options for asset classes. The web-based trading platform is easy to use and requires no downloads or installations. The mobile trading app allows traders to access their accounts and trade on the go.

Trading Instruments and Spreads

LQDFX offers a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies. The broker offers over 70 currency pairs to choose from, as well as popular commodities such as gold, silver, and crude oil. In addition, LQDFX offers trading on popular indices such as the S&P 500 and NASDAQ, as well as a range of cryptocurrencies including Bitcoin, Ethereum, and Litecoin.

The spreads on LQDFX depend on the account type and the trading instrument. For example, the Micro account has spreads starting from 1.0 pips, while the ECN account has spreads starting from 0.0 pips. The Islamic account has fixed spreads, while the Gold account has tighter spreads than the Micro account. Overall, LQDFX’s spreads are competitive compared to other forex brokers in the market. In addition, the broker does not charge any commissions on trades, which is a plus for traders looking to minimize their trading costs.

In terms of trading fees, LQDFX charges commissions on some trading accounts, and the spreads are variable, depending on the account type and the trading instrument. The broker offers traders a range of deposit methods, including bank transfer and popular e-wallets like Skrill and Neteller. LQDFX also offers traders the ability to trade a range of financial instruments, including CFDs on stocks, indices, and commodities.

Regulations and Safety Measures

One of the most important considerations when choosing a forex broker is their regulatory status and safety measures. LQDFX is registered in the Marshall Islands and is an unregulated broker. While this may be a concern for some traders, LQDFX has taken steps to ensure the safety of client funds. The broker uses segregated bank accounts to keep client funds separate from the company’s operating funds, which provides an additional layer of protection. LQDFX also offers negative balance protection to retail investors, which ensures that traders cannot lose more than their account balance. In addition, the broker uses encryption technology to secure client data and transactions.

Deposit and Withdrawal Methods

LQDFX offers a range of deposit and withdrawal methods to make it easy for traders to fund their accounts and withdraw their profits. Deposits can be made via bank transfer, credit/debit cards, and e-wallets such as Skrill, Neteller, and FasaPay. The minimum deposit varies by account type, with the Micro account requiring a minimum deposit of $20 and the VIP account requiring a minimum deposit of $25,000. Withdrawals can be made via the same methods as deposits, with processing times ranging from 1–5 business days depending on the method chosen.

LQDFX does not charge any deposit fees, but withdrawal fees may apply depending on the method chosen. For example, bank transfer withdrawals may incur a fee of $10-$50 depending on the amount withdrawn. Traders should also note that LQDFX requires traders to submit a valid ID and proof of address before they can withdraw funds. In addition, the broker has the right to withhold withdrawals if it suspects any fraudulent or suspicious activity.

Customer Support and Educational Resources

LQDFX provides a range of customer support options to help traders with any questions or issues they may have. Traders can contact the support team via email, phone, or live chat, with support available 24/5. In addition, LQDFX has an extensive FAQ section on their website that covers a range of topics related to trading, account management, and technical issues.

LQDFX also provides a range of educational resources to help traders improve their skills and knowledge. These resources include a forex trading course, webinars, video tutorials, and an economic calendar. The forex trading course is designed for novice traders and covers the basics of forex trading, including terminology, market analysis, and risk management. The webinars are conducted by experienced traders and cover a range of topics such as technical analysis, trading strategies, and market trends. The video tutorials cover various aspects of trading, such as how to use the trading platform, how to place trades, and how to manage risk. The economic calendar provides traders with up-to-date information on upcoming economic events and their potential impact on the markets.

Account Types and Trading Instruments

LQDFX offers a variety of trading accounts to suit the needs of different traders. The account types available include Micro, Gold, ECN, and VIP. The Micro account is designed for novice traders and has a minimum deposit of $20. The Gold account is for more experienced traders and has a minimum deposit of $500. The ECN account is for advanced traders who require low spreads and fast execution, and has a minimum deposit of $500. The VIP account is for high-net-worth traders and has a minimum deposit of $25,000.

Each account type has its own unique features and benefits. For example, the Micro account offers leverage up to 1:500, while the VIP account offers leverage up to 1:300. All account types also come with a free demo account, which allows traders to practice their skills and test their trading strategies without risking real money.

LQDFX offers a range of trading instruments, including forex, CFDs, and precious metals. Traders can trade more than 70 currency pairs, including majors, minors, and exotics. The broker also offers CFDs on commodities such as gold, silver, and oil, as well as indices and shares. LQDFX is also one of the few brokers to offer cryptocurrency trading, with five different crypto pairs available for trading.

Trading Platforms and Tools

LQDFX offers a variety of trading platforms to suit the needs of different traders. The broker’s primary platform is the MetaTrader 4 (MT4) platform, which is one of the most popular trading platforms in the world. The MT4 platform is available for Windows and Mac desktops, as well as for mobile devices. The platform features advanced charting tools, a wide range of technical indicators, and the ability to use automated trading strategies.

In addition to the MT4 platform, LQDFX also offers the Sirix WebTrader platform, which is a web-based platform that allows traders to access their accounts from anywhere with an internet connection. The Sirix platform features advanced charting tools, one-click trading, and social trading capabilities.

LQDFX also provides a range of trading tools to help traders improve their trading performance. These tools include trading signals, expert advisors, and a market news section. The trading signals are provided by a third-party provider and cover a range of currency pairs and trading strategies. The expert advisors are automated trading strategies that can be customized to suit the trader’s preferences. The market news section provides up-to-date information on the latest economic events and their potential impact on the markets.

Opening An Account

The process of opening an account with LQDFX is simple and straightforward. Traders can open an account by completing the account opening agreement and submitting it to the broker. The broker offers several deposit methods, including bank transfer, and traders can withdraw their funds using the same method they used to deposit. The broker does not charge any deposit fees, and the withdrawal fees are low compared to other brokers.

LQDFX provides traders with a reliable online trading platform that is available on both desktop and mobile devices. The broker offers a demo account to help traders practice their trading skills without risking their own funds. The web trader is user-friendly and provides traders with a range of trading tools, including trading signals, technical analysis tools, and an economic calendar. LQDFX supports popular trading platforms, including MetaTrader 4 and 5, which are known for their robustness and reliability. The broker also offers one-click trading and pivot point indicators to help traders make informed trading decisions.

Automated Trading

Automated trading is another feature offered by LQDFX that can help traders streamline their trading process. The broker offers a range of trading tools, including trading signals and automated trading robots, that can help traders execute their trades more efficiently. The broker also provides traders with access to technical analysis tools that can help them identify market trends and make better trading decisions. The broker offers a range of trading strategies that can be used by traders with different levels of experience, including scalping, hedging, and swing trading.

LQDFX offers traders negative balance protection, ensuring that their account balance will never fall below zero. The broker also provides traders with a clear risk warning, highlighting the potential risks of trading forex and the fact that the capital is at risk. The broker offers a high leverage of up to 1:500, which can increase both the potential profits and the potential losses. LQDFX also offers segregated bank accounts, ensuring that traders’ funds are kept separate from the broker’s operating funds.

Online Reviews

LQDFX has a comprehensive review on Traders Union, which rates the broker at 1.86 out of 10. The review provides detailed information on the broker’s trading conditions, commissions and fees, account types, and customer support. The review also highlights the broker’s strengths and weaknesses, including the fact that the broker is unregulated and has negative reviews from traders.

LQDFX is not the only forex broker available to traders, and it is important to compare the broker with other leading brokers in the market. Other leading forex brokers, such as Alpari, FIBO Group, and FortFS, offer similar trading services and features. It is important for traders to carefully evaluate each broker and choose the one that best meets their trading needs and objectives. Traders should consider a range of factors when choosing a broker, including the broker’s trading conditions, fees and commissions, customer support, regulatory status, and trading platform.

Conclusion and Final Thoughts

In conclusion, LQDFX is a forex broker that offers a range of trading accounts, trading instruments, and trading platforms to suit the needs of different traders. The broker’s regulatory status may be a concern for some traders, but LQDFX has taken steps to ensure the safety of client funds. The broker’s customer support is available 24/5 and the educational resources provided are extensive.

Traders should be aware of the fees and minimum deposit requirements associated with each account type, as well as the withdrawal procedures and fees. It is also important to note that trading forex and CFDs involves a high level of risk and may not be suitable for all investors.

LQDFX is a legitimate online broker that provides traders with a range of trading options, including forex trading, CFD trading, and automated trading. The broker offers traders a range of account types, including micro, standard, and VIP accounts, with a low minimum deposit requirement of $20. The broker provides traders with access to a range of trading tools, including trading signals, technical analysis tools, and an economic calendar. LQDFX offers traders negative balance protection and segregated bank accounts, ensuring that their funds are safe and secure. However, traders should be aware that the broker is unregulated, and some traders have reported negative experiences with the broker.

In conclusion, LQDFX is a legitimate forex broker that offers a range of trading options, account types, and trading tools. The broker provides traders with access to a range of financial instruments, including forex, CFDs, and cryptocurrencies, and offers a high leverage of up to 1:500. LQDFX offers traders negative balance protection and segregated bank accounts, ensuring that their funds are safe and secure. The broker also offers a range of educational resources, including a demo account, video tutorials, and an economic calendar. However, traders should be aware that the broker is unregulated and has negative reviews from traders. Traders should carefully evaluate the broker’s trading conditions, fees, and commissions, as well as their own trading objectives and risk tolerance, before opening an account with LQDFX or any other forex broker.

Frequently Asked Questions

What is LQDFX, and is it a legitimate forex broker?

LQDFX is a forex and CFD broker that is based in the Marshall Islands. The broker is not regulated, which has raised some concerns among traders. While LQDFX claims to offer a range of trading services, including negative balance protection and segregated bank accounts, traders should exercise caution when trading with an unregulated broker.

What types of trading accounts are available at LQDFX?

LQDFX offers a range of trading accounts to suit the different needs of traders, including a Micro account, Gold account, ECN account, Islamic account, and VIP account. Each account has its own features and benefits, such as different minimum deposits, leverage levels, and trading conditions.

Does LQDFX offer a demo account?

Yes, LQDFX offers a demo account that traders can use to practice trading in a risk-free environment. The demo account is a great way for new traders to learn how to trade forex and test their trading strategies without risking real money.

What is the minimum deposit required to open a trading account at LQDFX?

The minimum deposit required to open a trading account at LQDFX varies depending on the type of account. The Micro account has a minimum deposit of $20, while the Gold account requires a minimum deposit of $500, and the ECN account has a minimum deposit of $500. The Islamic account and VIP account have different minimum deposits.

What is negative balance protection, and does LQDFX offer it?

Negative balance protection is a feature that protects traders from losing more money than they have in their trading accounts. LQDFX offers negative balance protection to its clients, which ensures that traders’ account balances cannot go below zero.

What is a trading platform, and what trading platforms are available at LQDFX?

A trading platform is a software application that traders use to access the financial markets and execute trades. LQDFX offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as the LQDFX web trader.

Does LQDFX offer automated trading?

Yes, LQDFX offers automated trading through the use of expert advisors (EAs) on the MT4 and MT5 trading platforms. Traders can use EAs to automate their trading strategies and execute trades automatically.

What is an Islamic account, and how is it different from other trading accounts?

An Islamic account is a trading account that is designed for traders who follow Islamic finance principles, which prohibit the charging or receiving of interest. Islamic accounts are also known as swap-free accounts, as they do not charge or pay swaps for holding positions overnight.

What are other leading forex brokers that traders can compare to LQDFX?

Other leading forex brokers that traders can compare to LQDFX include Alpari, FIBO Group, and FortFS. Traders should carefully evaluate each broker and choose the one that best meets their trading needs and objectives.

Does LQDFX offer segregated bank accounts?

Yes, LQDFX offers segregated bank accounts, which ensures that clients’ funds are held separately from the broker’s own operating funds. This provides an additional layer of protection for traders’ funds.

What is a pivot point, and how can traders use it in their trading strategies?

A pivot point is a technical indicator that is used to identify potential levels of support and resistance in the financial markets. Traders can use pivot points to make trading decisions, such as entering and exiting trades and setting stop-loss and take-profit levels.

What is a demo account, and does LQDFX offer it?

A demo account is a practice account that allows traders to use virtual money to practice trading strategies without risking real money. LQDFX offers demo accounts, which can be used to test out the trading platform and try out different strategies before trading with real money.

How do I open an account with LQDFX?

To open an account with LQDFX, you can visit their website and fill out the account registration form. You will need to provide your personal information, including your name, address, and contact information. Once you have completed the form, you will need to verify your identity by providing a copy of your ID, as well as proof of residence. Finally, you will need to fund your account to start trading.

Does LQDFX offer negative balance protection?

Yes, LQDFX offers negative balance protection, which ensures that traders will not lose more money than they have in their account. This is an important feature, as it helps to protect traders from unexpected market movements and potential losses.

What is a PAMM account, and does LQDFX offer it?

A PAMM account is a type of trading account that allows investors to invest in the trading activities of a professional trader. The professional trader manages the account, and investors can benefit from their trading skills and expertise. LQDFX does offer PAMM accounts, which can be a good option for investors who want to benefit from the expertise of a professional trader.

How does LQDFX protect my funds?

LQDFX takes the security of its clients’ funds very seriously. They use advanced security measures, such as SSL encryption and two-factor authentication, to protect their clients’ personal and financial information. In addition, they keep their clients’ funds in segregated bank accounts, which ensures that client funds are kept separate from the company’s own funds. This provides an extra layer of protection for clients, as their funds will be safe even if the company experiences financial difficulties.

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Finding The Best Crypto Tax Software In 2023

Taxes are arguably one of the most unenjoyable tasks of owning cryptocurrency. Between calculating gains and losses, reaching out to previous exchanges, and trying to make sure you don’t miss any information, it can quickly become overwhelming.

Fortunately, there is a solution: crypto tax software.

This software helps automate the process and makes things easier — but what are some of the best options?

In this post, we’ll explore three of the top crypto tax software platforms on the market in 2021. Whether you’re an individual investor or a small business owner handling dozens of transactions each day, these platforms offer great solutions for all kinds of users.

Read on to find out which platform is right for you!

What Is Crypto Tax Software Crypto?

Tax software is an invaluable tool for cryptocurrency investors, allowing them to easily track and report their digital asset earnings.

CryptoTrader.Tax (now CoinLedger), Koinly, and Ledgible are three of the top options for crypto tax software platforms.

CryptoTrader.Tax offers a variety of features to make filing taxes easier, including direct connections to over 20 exchanges like Coinbase, Bittrex, and Gemini.

They also offer free portfolio tracking, an official TurboTax partnership, and international support.

Koinly has a clean easy-to-use interface that makes it great for beginners. It connects to all major exchanges and wallets and offers a free plan where users can import all their data in one click.

Ledgible is another excellent option that helps investors track their crypto investments and their tax implications with ease. This software connects to hundreds of exchanges and coins, as well as 10+ NFT platforms, making it extremely versatile.

All three of these crypto tax software platforms provide important services to help cryptocurrency investors keep track of their profits and losses while staying compliant with the law.

They allow users to easily generate filled-in IRS forms such as 8949 or Schedule D and have comprehensive reporting capabilities so users can get the most out of their taxes without any hassle or stress.

With so many great options available, everyone should be able to find a solution that meets their needs when it comes to managing cryptocurrency taxes this year!

Pros And Cons Of Crypto Tax Software Crypto

Tax software is a revolutionary way to simplify the often complex process of filing cryptocurrency taxes. With the right crypto tax software, investors can automate their tax reports and save time and money.

Here are some pros and cons of using crypto tax software:

Pros:

-Integration with popular wallets and exchanges, allowing users to easily import data from multiple sources into one platform.

• Tax-loss harvesting capabilities help users minimize their taxable capital gains.
• Competitive pricing with multiple tiers, makes it easier for users to find the best fit for their needs.
• User-friendly interface makes it easy for even first-timers to navigate the system.
• Excellent customer support helps users quickly resolve any issues they may have.

Cons:

• Cannot directly file the tax return, which adds an extra step to the process.
• Limited customer support for lower-priced tiers may make it difficult for some users to get assistance when needed.
• The cost of some plans can be expensive if you have a large portfolio or many trades in a given year.

Conclusion

Crypto tax software is an invaluable tool for crypto traders and investors who need to stay on top of their taxes. It can help you calculate your gains or losses, generate necessary forms, and provide helpful reports so that filing your crypto taxes is a breeze. We’ve outlined the three best crypto tax software platforms currently available on the market; each platform has both strengths and weaknesses to consider. Ultimately, it’s up to you what platform best fits your needs and preferences. With whichever option you choose, make sure to do your own research, take advantage of its features, and stay informed about the ever-changing crypto tax environment so that you can maximize your returns and remain compliant with local/federal law.

Via https://medium.com/@crypto_bits/finding-the-best-crypto-tax-software-in-2023-bf3370f3cb87?source=rss-e787423ae68d------2

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Is Zenledger the BEST Crypto Tax Software?My Honest Review

Is Zenledger the BEST Crypto Tax Software? — My Honest Review

Are you looking for an easy-to-use crypto tax software that can save you time and money? If so, then Zenledger might be the perfect solution for you. In this review, I’ll discuss Zenledger’s features and user experience, compare it to other crypto tax software options on the market, and answer the question: Is Zenledger the BEST crypto tax software? So let’s dive in!

Zenledger is a crypto tax software that helps users easily and accurately calculate their taxable capital gains in real time. It also provides helpful reports to make sure all the necessary taxes are paid on time while offering easy-to-use tools to help keep you organized. I found Zenledger to be very user-friendly and straightforward, making it simple to organize data and generate reports with minimal effort. Plus, Zenledger’s automated system can quickly process your calculations and save you hours of manual work.

In terms of personal experience, Zenledger has performed well for me overall — no major issues to report here! One minor complaint is that Zenledger’s customer support could be improved — when I had a question, it took much longer than usual to receive any response.

When comparing Zenledger to other crypto tax software options, Zenledger is certainly one of the top contenders. Its features a user-friendly interface make it easy to use, while its automated system helps ensure accuracy and saves time. However, there are some other crypto tax software programs that may provide more specialized features or better pricing options depending on your needs.

Product Features

Here are some of the best features of using this crypto tax software;

- Automated system for calculating taxes

- Easy-to-use interface

- Generates helpful reports to ensure accuracy

- Saves time by quickly processing calculations

Pricing Plans

Zenledger offers a range of pricing plans to suit different needs, including a free plan for those who don’t have many transactions. Other paid plans include the Basic ($99/year) and Pro ($699/year) packages, which offer additional features such as automatic portfolio tracking and easy wallet connectivity.

Zenledger Basic and Pro packages offer users access to more detailed reports and data analysis tools.

The Basic plan gives users access to all the features of Zenledger, as well as automatic portfolio tracking, tax cost basis calculations, and advanced analytics. Users can also create unlimited reports and review them at different times throughout the year.

The Pro package includes all these features plus additional features such as the ability to link external accounts for tracking transactions across multiple platforms, custom reporting for cryptocurrency taxes, and access to an experienced tax professional from Zenledger who can provide expert advice on filing taxes properly.

The Zenledger Pro package also provides users with advanced reporting options such as groupings by transaction type, currency type, exchange rate, asset class, or other categories. This helps make it easier to manage complex portfolios by giving users a better understanding of their overall crypto tax situation. Additionally, Zenledger Pro offers an automated reconciliation process that allows users to quickly identify discrepancies in their records or any errors that may have been made in the process of calculating taxes.

Both the basic and pro packages provide users with a comprehensive suite of crypto tax tools that help them accurately calculate taxes while saving time and energy.

The automatic portfolio tracking feature is especially useful for long-term investors who need to keep track of their transactions in order to accurately report their gains/losses when filing taxes. And with Zenledger’s 24/7 customer support team available to answer any questions or concerns you may have along the way, Zenledger provides one of the best crypto tax solutions currently available on the market today.

How Does Zenledger Compare?

Compared to other crypto tax software solutions, Zenledger offers a comprehensive suite of features under an affordable pricing plan. Its automated system helps ensure accuracy and saves time, while its user-friendly interface makes it easy to use for even novice users. And with Zenledger’s customer support team available 24/7, you can rest assured that your questions will be answered promptly.

Koinly is another popular crypto tax software that also offers an automated system for calculating taxes. However, Zenledger provides a more user-friendly interface and a comprehensive suite of features under an affordable pricing plan. The service also offers 24/7 customer support, whereas Koinly only provides support during business hours. Additionally, Zenledger’s advanced reporting feature allows users to easily group transactions by asset class or exchange rate while Koinly does not have this feature.

Tokentax is another popular crypto tax software, however, Zenledger offers a more comprehensive suite of features under an affordable pricing plan. Zenledger’s user-friendly interface and 24/7 customer support team make it the ideal choice for users who are looking for an easy-to-use solution. One feature I liked was their handy automated reconciliation process while Tokentax does not. Additionally, Zenledger’s advanced reporting feature allows users to group transactions by asset class or exchange rate, whereas Tokentax does not have this feature.

How do I open an account?

Opening an account is easy and takes just a few minutes. First, you need to create an account by providing your email address and setting a password. Then, you’ll be asked to provide basic information about yourself so Zenledger can verify your identity. Once this is done, you can choose the package that best suits your needs. Zenledger offers both a basic and pro version, so you can choose whichever one works best for you. After selecting the package, the online platform will walk you through the steps to connect any crypto exchanges or wallets you use and provide automatic portfolio tracking. Once this is complete, they will provide you with a tax report to help you accurately calculate taxes and easily reconcile discrepancies.

Online Reviews

Zenledger has earned a lot of praise from its users. Most reviews cite the ease of use, comprehensive suite of features, and excellent customer service as the main reasons why Zenledger is one of the best crypto tax solutions available on the market today. Additionally, Zenledger offers a free trial period, so you can test out the software before committing to a paid plan. All in all, Zenledger is an excellent choice for anyone looking for a comprehensive and user-friendly crypto tax solution.

Zenledger supported exchanges and wallets

Zenledger supports a wide variety of exchanges and wallets. This includes popular exchanges such as Coinbase, Binance, Kraken, Gemini, Bitstamp and many more. It also supports hardware wallets like Trezor and Ledger in addition to desktop wallets such as Exodus and Jaxx. The platform also supports over 1,500 crypto tokens and coins.

How safe is Zenledger?

Zenledger’s data encryption and secure storage protocols ensure that your personal information is safe and secure. Zenledger also provides two-factor authentication when logging in, as well as IP whitelisting to prevent unauthorized access. They also have a team of security experts who are constantly monitoring the platform for any potential threats.

What Countries Are Supported?

Zenledger currently supports users from the United States, Canada, the United Kingdom, Australia, New Zealand and many more. Zenledger will be adding support for additional countries in the future.

What Tax Filing Types Are Supported?

Zenledger supports a wide variety of tax filing types, including both federal and state taxes. Moreover, it supports capital gains, short-term and long-term investments, as well as income from mining and staking activities.

Customer support

Zenledger offers a 24/7 customer support team to help users with any questions or queries. Zenledger’s friendly and knowledgeable team is available via email, chat and phone to provide assistance whenever needed. The platform provides an extensive knowledge base on their website that covers all topics related to using it.

Conclusion

Overall, Zenledger is an excellent choice for users who are looking for an easy-to-use crypto tax software. Zenledger’s user-friendly interface, advanced reporting features, and 24/7 customer support team make it the ideal choice for any user, regardless of their experience level with cryptocurrency. Zenledger’s affordability, a wide range of supported exchanges and wallets, and its secure storage protocols also make it one of the best crypto tax solutions available. If you’re looking for an easy and reliable way to calculate and file your crypto taxes, Zenledger is definitely worth checking out!

FAQ

Is Zenledger trusted?

Yes, Zenledger is a trusted and secure crypto tax software provider. Zenledger’s data encryption and secure storage protocols ensure that your personal information is safe and secure. Zenledger also provides two-factor authentication when logging in, as well as IP whitelisting to prevent unauthorized access. They have a team of security experts who are constantly monitoring the platform for any potential threats.

Does Zenledger work with TurboTax?

No, Zenledger does not currently work with TurboTax. Zenledger is its own standalone crypto tax software and its reports are compatible with several federal and state tax filing systems. Zenledger also provides an export feature to easily transfer the data into other tax platforms such as TaxAct or H&R Block.

Where is Zenledger based?

Zenledger is based in San Francisco, California. Zenledger’s team of experts are dedicated to providing users with the best crypto tax experience available. They also have offices in New York and London.

Is Zenledger free?

No, Zenledger is not a free service. Zenledger offers several different plans and pricing options to choose from depending on the user’s needs. However, they do offer a free trial so users can try out the platform before making any commitments. Why not jump in a give it a try?

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Kraken Crypto Exchange Review

Kraken is a prominent cryptocurrency exchange that facilitates the purchase, sale, and swap of dozens of different crypto-currencies. It is a place where you can buy and sell digital currency at market prices. Still, it also gives users access to margin accounts and futures trading, two riskier products that might be handy for certain trading methods.

Its primary platform is the best entry point for inexperienced crypto traders. Kraken Pro, a cheaper active trading platform, may appeal to more professional ones who aren’t just in the bitcoin industry.

This is a detailed Kraken review, exploring the services offered and answering some of the most important questions about this crypto exchange.

Here’s a really useful review video to get things started….

How Kraken Works

Neither a savings account nor a lending product is promoted on Kraken. Users can keep their assets on the site, but they are strongly advised to back them up in a separate cryptocurrency wallet.

Kraken emphasizes that they are an exchange and not a wallet service. Nonetheless, you utilize its cold storage wallet because of the reasonable staking rates it provides. Kraken is a leading staking platform due to its extensive coin selection and generous incentives.

It’s a unified market that may be accessed through the web via a mobile app. Kraken’s margin trading, stop-order capabilities, and cryptocurrency short-sale offerings are all available to verified customers. Staking coins allows you to earn interest on uninvested cryptocurrency.

Your name, birth date, and physical address are required to create a fundamental account. There are age and background requirements (anywhere in the U.S. apart from Washington and New York).

Kraken Features

Kraken is a cryptocurrency trading platform that, in addition to being one of the first of its kind, offers a great deal of value to investors of all skill levels. The following are some of its most notable characteristics:

1. Security

Since their inception, cryptocurrencies have been prone to hacks that have resulted in the theft or loss of millions of dollars worth of coins. It would help if you didn’t risk having your cryptocurrency stolen by landing on a crypto exchange with poor cybersecurity since most hacked exchanges have refunded their customers for any lost value.

Kraken’s dedication to security is unwavering, as evidenced by the fact that it received a flawless score from the cryptocurrency exchange security review site CER. Since its trading activities began in 2013, Kraken has had no major hacking occurrences.

Not even Binance, a true industry leader on a global scale, can make that claim. However, there are reports of compromised accounts on internet discussion groups where users have complained about Kraken.

Kraken guarantees both user and platform safety, with 95% of customer deposits kept offline in cold storage locations worldwide. Its servers are protected around the clock by armed guards and video surveillance systems.

Kraken takes extra precautions to ensure the safety of your personal information by encrypting it at both the system and data levels and doing frequent vulnerability tests on its infrastructure. They were recently recognized with the CSO50 Award for their dedication to security.

2. Efficiency of Operation

Kraken’s Instant Buy platform may make it too expensive for a first excursion into cryptocurrency, but the exchange itself is free. Your account can undergo instant automated verification. Since the Pro level, which is the most thorough, requires some papers to be evaluated by hand, it might take several days to complete.

After your identity has been confirmed, you can load your account with fiat currency like U.S. dollars and begin buying cryptocurrencies.

To finance your account, you may use a credit card or a debt account, which the site supports. If you use your credit card to buy cryptocurrency, you’ll be charged 3.75 percent plus 25 cents. Trading fees for Kraken’s “Instant Buy” feature are a flat 1.5% or 0.9%, depending on the cryptocurrency being purchased.

Kraken assumes its customers have some expertise, which might be intimidating for new investors. However, the site provides helpful resources for learning about investing. Though Kraken is available to customers in the United States, its availability is limited. New York and Washington customers cannot use it at this time.

3. In-Depth Investment Opportunities

Kraken has several extra services that will appeal to more seasoned investors. The investors have access to speculative trading in addition to publicly tradable coins. It’s a high-stakes strategy that lets you use your existing investments as collateral to borrow money to make new acquisitions.

If you utilize excess, you may be able to double your profits by a factor of several. Still, you also make yourself vulnerable to margin calls, which may result in devastating losses if the market suddenly tanks.

As the federal government figures out how it will approach crypto, margin trading is less popular on currently accessible U.S. platforms. The maximum rate that can be charged for a margin loan is 0.2 percent.

Not only can you use margin trading, but you can also stake (and unstake) particular coins. You can stake several different cryptocurrencies, such as Ethereum (ETH), Cardano (ADA), and Solana (SOL). Kraken furthermore provides cryptocurrency futures trading.

Brief Description of Payment

The Kraken exchange is typical in that it charges fees to the maker and the taker of a trade. Those who regularly engage in high trade volumes receive discounts. Transaction fees for buying and selling cryptocurrencies vary amongst different cryptocurrencies. A minimum Bitcoin withdrawal fee of 0.00001 BTC applies.

Like other exchanges, Kraken’s instant buy feature will cost you a pretty penny in fees. Although the transaction fees on a debit card are high, you are allowed to use it since it does not reside in the United States.

Picking a Cryptocurrency

Kraken provides an excellent variety of cryptocurrencies for its customers. About 130 coins are listed for U.S. dealers out of a total of about 160. Bitcoin, Ethereum, and Cardano are just some renowned cryptocurrencies that fall within this category. It supports seven different fiat currencies and three stablecoins.

Is Kraken a safe place to store your cryptocurrency?

Keeping your data safe is one of Kraken’s primary goals. Since its inception in 2013, it has maintained its reputation as one of the safest places to trade cryptocurrencies since it has never been compromised. However, concerns about the safety of bitcoin exchanges have sparked much controversy. Learn more about Kraken’s security methodology below.

1. The Safekeeping of Coins: Kraken claims that 95 percent of its crypto holdings are stored offline in “cold storage” (essentially offline and protected against hacks). It has complete reserves and an independent audit of those reserves to verify their accuracy.

2. Protecting platforms and data: It constantly monitors all of its physical servers. System and data-level encryption protect sensitive information.

3. Testing for safety: The company’s in-house staff and a bug bounty program continuously test Kraken’s systems for vulnerabilities. B bug bounty schemes incentivize ethical hackers to seek and disclose vulnerabilities actively.

4. Instructional tools and measures for user safety: As stated on the Kraken website, “No amount of security on our end can make up for poor personal security.” There’s two-factor authentication, encrypted email, and locks. Furthermore, it enhances its security by instructing customers on the best practices for keeping their accounts safe.

One of Kraken’s favourite security features is the ability to assign unique two-factor authentication (2FA) credentials for various tasks, including logging in, making a deposit, or changing your password.

Providing Assistance to Clients

Live chat, phone, and email are all ways to contact Kraken’s helpful support staff, which is on hand around the clock. There was a slight hiccup when people tried to modify a setting in their account (mainly due to human error). Therefore they submitted a ticket. In a little over 20 minutes, Kraken’s support team arrived and had the issue fixed.

Customer support is excellent. However, some people have complained about the opposite. Because of hacking and difficulty persuading Kraken to release stored payments, several consumers are dissatisfied with the service.

Satisfaction of Needs

The fact that Kraken only has 2.1 ratings on Trustpilot shows that many consumers have had serious issues. Holding cash beyond the first security period and lengthy wait times for replies from customer care were the two most often cited causes of dissatisfaction.

These issues with customer support are cause for concern, but it’s crucial to weigh both positive and bad feedback when selecting a bitcoin exchange platform.

Invoicing and Collections

Kraken’s online and mobile app platforms provide extensive customer self-service for account administration. Account management may be simplified when viewed on a laptop or desktop computer with a larger screen.

Kraken’s control panel allows you to make changes to your account’s configuration, check your approval status, activate two-factor authentication, handle your API keys, and even secure your account.

Frequently Ask Questions (FAQ’s)

Some of the more frequent inquiries regarding Kraken are as follows:

Is Kraken a U.S.-based firm?

Kraken is headquartered in Golden Gate City and can be found in 48 of the 50 states.

Does Kraken offer a cryptocurrency loyalty card?

No, and no announcements regarding future cards have been made.

How much are Kraken’s margin trading costs?

The starting fee for traders using margin is 0.02%, and the rollover fee is 0.02% every four hours.

Does Kraken Accept Shiba Inu Coin?

On November 29, 2021, Kraken started accepting Shiba Inu deposits, and trading started the next day.

If you enjoyed this Kraken review then you should also check out our Gala Games review, our Koinly 2023 review our review of Tokentax and of course this review .

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Gala Games Review 2022Games And Coin In One Place!

Gala Games Review 2022 — Games And Coin In One Place!

Gala Games Review

Gala Games is a rapidly expanding service that caters to consumers by providing many games at once. Voting allows Founder’s Nodes to make educated decisions about the project’s future and how to allocate resources. Users can govern games in the ecosystem since they own non-fungible tokens (NFTs), which is the primary characteristic of the system.

The decentralized Gala Games ecosystem aims to throw open the floodgates and return power to the players. Because of decentralization, players not only have full control over the virtual goods they acquire while playing Gala Games but can also contribute to planning future content.

Keep reading this Gala Games review to learn more about this innovative web3 company.

How does Gala Games operate?

While the GALA token and game tokens are now kept on the Ethereum network, this will change once the Gala sidechain is live. Many users’ connections to the games and marketplace are now being powered by Gala nodes, also known as Founders Nodes. There seems to be some obscurity surrounding the details of this, though. One day, these nodes will fuel the Gala blockchain itself, currently being referred to as GYRI chain.

According to Jason Brink (aka Bitbender), the maximum number of nodes is 50,000, but every node can handle 100,000,000 transactions monthly. No one knows much about the Gala blockchain system because formal documentation hasn’t been released yet, however, the expected launch date is 31 October 2022 and they will be launching the chian with Spider Tanks being the first game.

There are about 21,000 working nodes, but only about 10,000 licenses are still available, per a conversation with Jason Brink. For 286k GALA ($85k), you can purchase a node license on the Gala Games website. Gala was introduced via a Coin Directorate film; for a short explanation, another YouTube clip suggests that node administrators may earn roughly $150 per day.

New nodes tailored to the game will be built on the original ones. These nodes pay out in-game tokens (such as TOWN coin) rather than the GALA tokens. Right now, Town Star is the only game with fully functional nodes, but more are expected for games like Spider Tanks and Mirandus. These nodes help to decentralise the Gala ecosystem by hosting the content between users rather than by a centralised entity.

Tokenomics of Gala Games

GALA coin is an ERC-20 coin with a Binance Smart Network equivalent, the BEP20 coin. You may use GALA to purchase NFTs and Founding Network licenses on their platform. GALA will likely be used as a payment method for Gala sidechain transactions.

While the Gala Games token economy is still shrouded in mystery, the company website hints at a maximum supply of about 50 billion. About 17 million GALA are divided daily between the Gala Games Conservatorship and the Founders Nodes so that the ecosystem can keep expanding.

In order to gradually bring it down to zero, the distribution amount will be halved every year.

The Definition of NFTs

The term “non-fungible token” (NFT) refers to a digital token that may be used to guarantee the originality and worth of intangible goods like video in-game or art purchases.

NFTs are employed to generate digitally verifiable artificial scarcity, digital ownership, and the potential for asset interoperability across numerous platforms.

In Gala Games, NFTs serve as crucial in-game items that may greatly benefit a player’s performance. They’re rare; therefore, they’re expensive (hundreds of thousands of dollars sometimes). Gala Games releases NFTs, which may be purchased from the game store and used or resold by the buyer or seller.

When a player earns or buys an NFT, it becomes their exclusive property; the game’s developer can’t take it away (it is any longer their property).

As a result, players may earn and own their valued gaming assets, which might constitute a huge redistribution of wealth. This is a big leap forward in the gaming world, where items are purchased but never truly owned (they can’t be traded, rented out, swapped etc). NFTs therefore bring a very interesting dynamic to the gaming world thanks to the power of blockchain technology.

Gala Games’ Roadmap

Exciting things are on the horizon for Gala Games, and they include;

1. At least 28 new games are being released.

2. By removing the central server, node owners may take charge of providing games to their local players.

3. All games will receive brand-new coins (which will be distributed to node owners).

4. A paradigm shift toward “free” nodes (these will probably be to support game hosting once that becomes decentralized).

5. There has been much anticipation for the forthcoming Gala Music, Gala Film, and possibly even Gala Theme Parks.

The Ultimate Video Game System Bundle

Right now, Steam, PlayStation Store, and Xbox Live offer video game distribution services. However, Gala Games is different since it focuses on P2E dynamics, NFTs, and decentralized financing in its projects rather than traditional video games (DeFi). Also, free-to-play models let players make real money via their hobby.

In addition, the site allows users to vote on new game additions for Gala Games. Any participant can organize a voting node on any Gala using a personal computer.

Users won’t just be able to choose which games they want. They’ll also have a say in how the platform evolves, from which features to prioritize to which directions to push developers regarding new games, streamlined navigation, and bug fixes. In fact, Gala Games players wanted a PUBG-style game, so in February 2022, they added GRIT.

Gala Gold

You pay a one-time payment to become a Gala Gold member. In exchange, you receive direct exposure to a private discord channel, early news and announcements, early access to NFTs, and free NFTs from time to time. It is all in addition to the other benefits of being a Gala Gold member.

The Galaverse

Gala Games hosts an event called Galaverse twice a year, specifically for its followers. It is not simply a convention but a completely immersive and thrilling event that includes live music, gaming, role-playing, introducing new game releases, and much more.

Dangers and Restrictions

Account creation and gameplay both cost less. However, there are potential downsides and restrictions to keeping the coins or running a node.

1. Exchanges of nodes are not intended to be used (although there is a refund policy). They will have value once they are “minted” into NFTs, but it is unknown when that will be or what they’ll be worth.

2. Only on authorized exchanges, such as https://opensea.io/, may NFTs be purchased. Gala Games may be negatively impacted if authorities significantly influence the bitcoin industry.

3. You’ll need to pay for some GAS if you want to load your wallet with coins.

4. Many people have more than one node, but you can’t manage them all on a single computer or virtual private server (VPS).

5. As demand decreases and supply increases, the remaining nodes fetch tens of thousands of dollars.

6. Although Gala Games give instructions for setting up a node, you will need to operate it on a virtual private server or dedicated computer.

Pricing of Gala Games

Over the previous year, the value of the GALA token has climbed more than 30 times. However, the vast bulk of these gains occurred since the excitement around the metaverse began in September of last year. Over fifty percent of GALA’s value has been wiped off since its all-time high.

Estimating how many opportunities for growth the token has may be difficult due to the problem with the market cap before. It makes a significant difference if the market cap is closer to $11 billion, as Etherescan reveals, or closer to $2–3 billion, as suggested by CoinMarketCap and Coingecko.

Tips on Purchasing a Gala Node

The purchase process for a Gala Node is outlined here.

1. Create your free account at Gala Games right now!

2. You may access the “Get Gala” button if you’re a member.

3. Just make a purchase and manage a node (point 2)

4. To view all available coins, go to “Select Payment Method:” and click on the Gala icon. Nodes are purchased with Ethereum because it is the most accessible cryptocurrency.

5. After choosing Ethereum as the payment method, click Buy Now to see how much Ethereum must be transferred.

6. To the necessary quantity of Ethereum, add a marginal surplus (to cover GAS fees).

7. If you want to send Ethereum, you may find your Gala Wallet address by clicking the “Buy Now” button.

8. You may purchase the node if you have Ethereum in your Gala wallet.

Frequently Ask Questions (FAQs)

Is Gala Game legit?

Gala Games, a corporation, develops games. In addition to not being a fraud, their games are available at no cost. The company’s cryptocurrency, known as Gala Coin, may be bought, sold, and traded like other digital currencies. As a result of their historical volatility, cryptocurrency investments are often seen as risky.

Binance, Coinbase Exchange, Kucoin, FTX, and Gemini are just a few cryptocurrency exchanges where you can buy or sell Gala tokens.

Are there ways to get money via gala games?

If you can climb the leaderboards in TOWN Star, one of Gala Games’ play-to-earn (P2E) games, you’ll be able to start generating real money. You may earn points by cultivating crops, constructing a town, and trading goods in this farming simulator played in a web browser and earning TOWN coin can be swapped for currencies such as Ethereum or even into US dollars.

What exactly is “play-to-earn” gaming?

To put it briefly, play-to-earn gaming is a system whereby users of a blockchain-based gaming platform may receive incentives simply by playing games.

Players may utilize their talents to win cryptocurrency in these blockchain games, and they can exchange it for fiat currency or another cryptocurrency. If and when blockchain technology’s widespread acceptance finally takes off, the gaming industry stands to benefit greatly.

What Games Are Coming To Gala?

There are 28 Games currently in development within the Gala Games ecosystem. Most of these games are being developed by separate game studios and we don’t know all of the titles that are to be released yet. However, according to Trade Wise, here are the games that have been announced so far;

Town Star

This is a free-to-play (AND play-to-earn) town-building and farming game. This type of game is very popular, with 600 million people thought to have played similar games in the past. It is already proving to the very popular and new gamers are joining in the fun all the time. It is the first play-to-earn game in the Gala Ecosystem and they are constantly learning and adapting the game and earning potential to keep it fun and sustainable. The in-game token is TOWN and can be earned in many different ways by playing the game. (https://coinmarketcap.com/currencies/town-star/) . TOWN coin can be used to buy new NFTs, swapped for Gala or sold and converted into fiat currency (USD, Euro etc) as a real income.

Mirandus (Currently in development)

Mirandus is an epic fantasy RPG set in a massive world ruled by five player-monarchs. In-game, players have absolute freedom of choice: they can set out into the wilderness alone to try their fortunes against the monsters of the deep woods and dungeons, join with one of the monarchs to serve as a knight in their court, or set up shop in one of the five great cities of the realm.

Not a huge amount is known about Mirandus yet as it’s still in development. There have been some exciting teasers though….

Fortitude (Currently in development)

Originally called Fortified, Fortitude is another game that Gala Games currently have in development. It looks like a very exciting tower defence game. It was originally due for release in 2021, but after getting a complete graphic overhaul is now due for release in late 2022.

Some NFTs have already been released for this game, and I own a couple of different defensive towers.

Gala Games describes this game as;

“Fortitude is a PvP tower defence game set in a dark fantasy world where players compete against one another to both invade and defend villages. As you build and grow your village, you must craft and strategically place a variety of defensive structures like cannon towers, arrow towers and powerful magic buildings, all designed to protect you from invasion. While defending your village, you may also train soldiers and heroes to form an army and invade other villages to plunder precious resources. The loot obtained in these invasions will create the foundation for your own village’s expansion and development. Make sure you’re well-fortified for this intense and action-packed strategy adventure! Coming in Q4 2022!”

Spider Tanks

Spider Tanks is a PVP brawler that’s fast-paced, fun to play and has play-to-earn capabilities. I’ve played this game many times and it’s a lot of fun. I also own a number of NFTs. The native token for this game is SILK although it isn’t released at the time of writing.

You can play Spider Tanks for free or buy NFTs and have a better chance of winning and earning more too. There is a huge range of NFTs available and it’s worth playing the game a little bit to see what kind of style you have before purchasing NFTs, although if you do buy one you no longer need you can easily sell it again on the secondary market. SOm interesting NFT’s for this game include almost invincible chickens, sharks, and Snoop Dogg Lowriders.

Superior

Superior is from game developer Drifter, and is a co-op, roguelite, third-person shooter.

In a world where superheroes have become mutants and gone over to the dark side, you must battle for your life to take down these abominations and free the world.

Some game demo’s have been released for this but the game is not expected to go live until Q4 2022.

The Walking Dead: Empires

This is an official Walking Dead Game from AMC (the game developer is Ember Entertainment though). The game follows a similar storyline to the TV show as well as featuring some of the main characters. This game is a battle for survival against a seemingly unlimited number of zombies.

I’m excited to play this game and I already own a number of NFTs. There is an element of the third-person shooter in this game as you battle against zombies and collect resources. There is also a base-building element, and you can seek refuge and build defences on your own NFT base or help an NFT owner build in exchange for safe lodgings.

I cannot wait to play this game! I expect it to be released in late 2022.

Legends Reborn: Age Of Chance

Legends Reborn is a strategic card game from Kung Fu Factory. The aim of the game building decks of cards and take on all challengers. Amass is a collection of cards and creatures which allows you to build, re-build, and tweak decks to meet any challenge that comes your way.

Each card has special powers/abilities and the stronger your hand the better your chances of winning.

Although I’ve never played this type of online card game before there is a huge market for them and the NFT’s fit in nicely too.

Legacy

From the renowned game developer Peter Molyneux (creator of Theme Park and Sims) comes Legacy — a game that celebrates creativity. Players must build their own businesses within the game and in order to be successful must create the best products they can and showcase them to other players.

The game includes all aspects of running a business from sourcing raw materials, to designing and manufacturing products and then selling and trading them in an in-game marketplace.

I’m intrigued by this idea and it could be a huge hit, although it does seem somewhat of a new concept and maybe it will be like going to work rather than having lots of fun. It’ll be interesting to see how this game develops and how the gaming community responds to this one!

Last Expedition

Of all the games currently in development in the Gala Games ecosystem, this could be the one that really puts them on the map. Last Expedition is a survival first-person shooter. There are a lot of games like this on the market, but they are also HUGELY popular. What gives this game so much potential is that it’s being created by Certain Affinity, who have helped to create hugely popular games in the Halo and Call OF Duty series. This is the first title that they’ve developed for themselves, and they promise to make this their best game yet.

It’ll be interesting to see how NFTs feature in this game, but I love the idea of being able to buy weapons as NFTs and customize and upgrade them.

Echoes Of Empire

It’s fair to say that I’m excited about all of the games coming to Gala Games, but this one for me is a cut above the rest. An epic sci-fi 4x strategy game, Echoes Of Empire looks like it will be a vast game with huge potential. I love space exploration games anyway, and the graphics and gameplay in this look simply gorgeous. NFTs are already available for this game and I already own a couple of planets that I can mine for resources, and earn from as other players also do the same. NFT’s seem to fit this game better than any other I’ve seen and there will be spacecraft NFTs soon in addition to the stars and planets you can buy.

You can play this game solo, or join a guild and fight to rule the Universe.

The storyline for this game is rich in detail, and I can see gamers becoming obsessed with this game. It could be the type of game that players enjoy for many years, and this is quite an exciting prospect and possibly a first in the play-to-earn sector.

Here’s a little more detail from the game developers;

“Factions warring against one another on a galactic scale, setting the stage for an upstart hero (you the player) and your meteoric ascent to power! You will recruit Heroes and Knights to your banner while building, upgrading, and owning a fleet of starships all in an effort to bring glory to your house and control to your sector of the galaxy. Go solo or join up in massive guilds to mine or fight over resource-laden star systems. Once your coffers are flush with riches and resources, muster and master all aspects of your Command Station where you can upgrade warships, craft new weapons, and repair and refit your fleets. Player ownership of in-game assets is a core mechanic, and you will have the ability to own major sectors of the galactic system and the resources that go along with it. What will you leave behind as your legacy? Find out in Echoes of Empire!”

Due to be released in Q4 2022, I’m hoping that this one will have an open beta in Q2.

Town Crush

Originally planned just as a test game to test Gala’s new blockchain, town crush is a simple but fun match 3 game.

It has the same theme as Town Star with similar characters and graphics. This game would be ideal for app stores and younger gamers.

Fuzzles

Fuzzles are NFTs with personalities. Specifically, they’re cute-looking aliens, but don’t let their appearance fool you — they are here to overthrow humanity on be our masters! They’re cheeky and fun, and I was tempted to buy one for my kids but quite honestly they’re not suitable for youngsters.

Betwixt

Betwixt — The Story of You is a novel game idea aimed at improving mental health, described as “play-to-thrive”. Explore the game, and your inner-self in this fun and unique game. You might have fun and you could possibly even earn while playing this game, but an unexpected benefit might just be increased mental wellness and resilience.

GRIT

Grit is a Western-style Battle Royale. Its winner takes all in the shooting arena set in the times of gun slinging and horseback riding. Have you ever wanted to be a gunfighter? You can choose and customize your cowboy to suit your shooting style.

That pretty much wraps up this Gala Games review. Please let us know if you think that web3 gaming companies such as Gala are the future of gaming in the comments below!

You may also like our other reviews;

Koinly Crypto Accounting Software Review

Tokentax software review

Yieldnodes Review

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Koinly Review 2022The Best Crypto Tax Software?

Koinly Review 2022 — The Best Crypto Tax Software?

Koinly is a software app that can handle your cryptocurrency tax reports used by crypto investors or their accountants. For those with large portfolios, it can process multiple data and manage across several cryptocurrency exchanges.

This review will tell you what Koinly features can match your needs regarding cryptocurrency transactions, such as creating tax reports, tracking your portfolio, and exchanging cryptos. Before we get started, here’s a useful review video for those that are completely new to this tax software;

About Koinly

Koinly was founded in 2018. It provides simple navigation for complex tax reporting and crypto portfolio tracking calculations. Generally, these generated tax reports can be exported to supported tax filing software such as TurboTax Online and TaxACT.

The app lets you choose from the multiple cost basis methods and then generate several tax reports:

• Average Cost Basis (ACB)
• First In First Out (FIFO)
• Last In First Out (LIFO)
• Highest In First Out (HIFO)
• Average Cost
• Share Pooling
• Spec ID

With the huge expansion of the usage of cryptocurrency, apps are built to sustain and be able to make transactions. Koinly contributes to making cryptocurrency easy to use and accessible. The app’s crypto portfolio tracker would be able to:

1. Automatically track cryptocurrency across exchange accounts like Coinbase, Binance, and more.

2. Identify transferred funds as a single transaction within your exchange account or wallet.

3. Switch between investment mode and tax mode:

• Investment mode — you can keep track of your original acquisitions when exchanging cryptos (e.g., BTC to ETH) where it wouldn’t be considered as gains
• Tax mode — gains would be calculated when cryptos are exchanged for another

Koinly Cryptocurrency Tax Software Overview

Through Koinly’s features, other than tax reports, you can sync your wallet transactions in your app’s dashboard. As a result, your cryptocurrency exchanges and other transactions are consolidated, which makes it easy to prepare your tax reports and forms.

Tax-Loss Harvesting

Tax-loss harvesting involves offsetting your capital gains to save money when filing taxes. For example, you can sell securities and consider them lost assets, which you can apply against your capital gains.

Yet, you can get back these lost assets by purchasing similar assets, and Koinly records your capital gains and losses per asset. You’ll be able to track which coins you sold and the losses.

However, the app doesn’t have a standalone tool of a tax-loss harvesting calculator. It only offers its feature of putting your unrealized gains and losses on your dashboard.

Crypto Tax Reports

Koinly has a tax report tab where you can see the overview of your cryptocurrency activities, such as your capital gains and profit losses. Other tax reports can also be generated depending on the country and the applied tax laws.

Income Reports

Create income reports from sources such as Airdrops, Forks, Staking Rewards, DeFi, and other crypto savings accounts or income transactions.

Capital Gains and Margin Trading Summary

You can see your unrealized capital gains, margin trades, options, and futures. The app will provide a breakdown of long or short-term gains, assets you’ve sold, and the original cost.

Koinly can also detect margin and futures trading such as BitMEX and income transactions from lending or staking platforms such as Celsius, Compound, or Nexo.

Form 8949 And Schedule D

US taxpayers fill out Form 8949 for the Sales and Dispositions of Capital Assets needed for filing crypto taxes. Generally, Form Schedule D includes net capital gains and losses.

Other international tax reports are available and supported in over 20 countries, including:

• Australia
• Brazil
• Canada
• Denmark
• Finland
• France
• Germany
• Japan
• Norway
• South Korea
• Spain
• Sweden
• United States

This involves changing currency figures or other additional tax reports asked or required from the following countries:

• Form 8949 and Schedule D (USA)
• HMRC Capital gains summary (UK)
• K4 report (Sweden)
• RF1159 (Norway)
• Valuation Report (Switzerland)
• Lomake 9 (Finland)
• Schedule 3 (Canada)
• ATO summary (Australia)
• Formulaire 2086 (France)

End-of-Year Holdings

The app can provide end-of-year holdings, giving you outlines of your cryptocurrency holdings for every year.

Gifts, Donations, and Lost Assets

Outgoing transactions like gifts, donations, lost assets, and even stolen crypto can be tagged as capital loss and be generated into a formatted report.

Cryptocurrency Exchanges and Wallets

Koinly can support the following:

• Over 350 cryptocurrency exchanges
• Over 6000+ coins, more than 50 wallets
• 10 other crypto services

These are synced automatically. Some of the popular exchanges are:

• Binance
• Coinbase
• Crypto.com
• FTX
• Gate.io
• Gemini
• Kraken
• KuCoin

Among the 50+ wallets supported by Koinly are the following:

• BlockFi
• Celsius
• Exodus
• Ledger
• Nexo
• Trezor
• Trust Wallet
• Yoroi

Import Crypto Wallet Data

You can connect your wallets through API keys to the app. While for BTC wallets, you can connect using x/y/zpub keys and your ETH tokens with a public address.

The app can also import NFTs from most EVM-based blockchains like the following:

• ETH
• BSC
• FTM
• AVAX
• Poly
• Cronos

However, there are NFTs that Koinly doesn’t support, so you must add them manually.

Once you have a new wallet on your Koinly account, the app can import all your trades and liquidities from the following platforms:

• Uniswap
• Sushiswap
• Cream
• Value
• Balancer
• PancakeSwap
• DeFi

Cryptocurrency Tax Accountant

Even with the ease of using the tax software app, you may still be looking for an accountant. Koinly can provide a certified cryptocurrency tax accountant to deal with tax reports and requirements during the filing season.

Currently, Koinly has 2 CPAs from the US and 8 from Ireland. The onboarding process of a more certified accountant is still ongoing.

Portfolio Tracking

In your dashboard, you get an overview of your portfolio and total holding, which you can monitor the growth over time.

The app’s minimalist look lets you spot discrepancies and familiarize yourself based on the assigned colors, charts, and designs. Your actual ROI and invested fiat also appear here, and the breakdown of all your assets is on a pie chart.

For your income overview, you can get an overview of your mining, staking, lending, and other crypto income sources.

So, you can keep track of your portfolio in a universal pool shared across your wallets or monitor them individually.

Error Reconciliation

Generating tax reports in Koinly will help you look for errors and make the calculations accurate:

1. Spot missing transactions with the highlighted errors that make your balances result below zero.

2. With its double ledger system, the changes in the asset balances are backed by an entry for easy debugging.

3. Your API ensures that the data are correctly imported.

4. Skips duplicate transactions from API or the imported CSV files, so there’s no need to keep track of the imported files and the new ones.

Setting Up Your Koinly Account

To get started on importing your wallets on your Koinly account, follow these steps:

1. Sign Up

Sign up or sign in using Coinbase or Google account. But you can also sign up using your email, name, and password.

2. Connect Crypto Wallets

Once signed up, you can connect your crypto wallets, exchange accounts, and DeFi services. You’ll be able to have a free account within a few minutes since the app doesn’t use KYC requirements.

On adding a new wallet, look for their Wallets page and tap “Add Wallet.”

You can look for your wallet on the Exchange, Blockchains, Wallet, and Service. Generally, you can look for your wallet in the search box on the right side, along with the tabs.

3. Select On Importing Methods

After you find your wallet, importing methods will appear. Most of the cryptocurrency exchanges on Koinly have in them a Setup auto-sync option with their API keys that does the following:

• Downloads transaction history
• Automatically syncs imported data

You may also upload by clicking “Upload CSV files” if the setup auto-sync option is unavailable for that wallet or if you prefer importing such files.

4. Calculate Capital Gains

If the importing process is complete, which takes 15–20 minutes, Koinly will get down to the following:

• Calculate your capital gains
• Get the market prices
• Match transfers across your wallets

These calculations may vary from country to country, and choose from multiple cost basis methods accordingly.

5. Export Tax Reports

After the calculations, start refreshing your page. Then you can go to tax reports to see your capital gains and income overview.

Then you can choose from several tax reports, such as the following:

• Complete Tax Report
• Transaction Report
• Capital gains Report
• Income Report
• Expenses Report
• Gifts, Donations & Lost Assets
• End of Year Holdings Report
• Turbotax Report
• Localized Tax Reports

You can then export these reports in different formats such as CSV, excel, and pdf files.

Plans and Pricing

Koinly has plans and pricing available according to the features you want to use. The plans are paid per tax year.

The free account lets you have the essential features, such as:

• 10,000 transactions
• Unlimited wallet and exchange accounts
• Portfolio tracking
• Capital gains preview
• DeFi, Margin trades, Futures
• FIFO, LIFO, Average Cost, and more
• Wallet-based cost tracking (Spec ID)
• Avalanche Trades

Newbie

For $49, Newbie accounts would also get the essential features but for only 100 transactions, plus the following tax reports:

• Form 8949, Schedule D
• International tax reports
• Comprehensive audit report
• Export to TurboTax, TaxACT

HODLer

For $99, HODLer accounts would have the essential features plus the tax reports for 1000 transactions.

Trader

For $179, Trader accounts would have the essential features plus the tax reports for 3000 transactions.

Safety And Security

Aside from importing and automatically syncing your wallets using API keys, it also secures your transactions. The app encrypts the imported data and won’t store any of your payment details.

Customer Support

You can contact Koinly’s customer support via:

• Live chat
• Email (hello@koinly.io)
• Email support from experts (for Trader account only)

In fact, Koinly has a 4.6 rating for reviews on Trustpilot, where complaints are mostly errors from import transactions. That’s an impressive score for software such as this!

We hope you enjoyed our Koinly review. You might also like our TokenTax review and our Yieldnodes review.

Via https://medium.com/@crypto_bits/koinly-review-2022-the-best-crypto-tax-software-aefd57a2115f?source=rss-e787423ae68d------2

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TokenTax ReviewThe Best Crypto Tax Software 2022?

TokenTax Review — The Best Crypto Tax Software 2022?

TokenTax has shown itself as the top crypto tax software solution by automatically calculating crypto taxes and generating crypto tax forms for its users. The TokenTax platform is great for newcomers since it is simple to use, and the interface is well-organized and straightforward.

Newcomers won’t be overwhelmed by an abundance of options and text. Connecting to different exchanges and wallets is a breeze with TokenTax because of their streamlined and consistent onboarding process. You should have no trouble integrating your other cryptocurrency services after you’ve connected one exchange or wallet.

If you wish to learn more, continue reading this TokenTax review. Before we begin, here’s a useful video explaining exactly how TokenTax works;

The TokenTax Overview: How does it operate?

TokenTax is not only a tax filing program for cryptocurrencies like Bitcoin or Ethereum. All aspects of submitting your cryptocurrency taxes will be made easier with the support of the product’s dedicated staff of accountants.

TokenTax’s accountants have assisted clients with cryptocurrency tax filings in 18 countries, and the firm’s products and services are applicable in every country. When it comes to your tax files, TokenTax doesn’t stop at just keeping track of your cryptocurrency holdings. It’s a full-fledged tax accounting program that may help you save a lot of money in addition to the crypto you already own.

In addition to supporting every cryptocurrency exchange in the market, TokenTax also provides sophisticated crypto users with automated tax filing capabilities for use with decentralized finance (DeFi) use cases.

Pricing

Compared to other crypto tax accounting services, TokenTax provides more customizable options for its clients. However, the cost of every plan is more than that of competing crypto tax reporting providers’ comparable plans.

There’s also the question of whether or not consumers want to utilize TokenTax for all of their annual tax filing demands or to figure out their crypto earnings and losses. All of TokenTax’s paid plans come with a 30-day money-back guarantee. However, there is no free trial available.

1. Basic

Users may get started with TokenTax for free with the Basic account. This account type can only import trade data automatically from Binance and Coinbase exchange accounts. However, Coinbase Pro activity is also included.

This severe restriction on a basic account is unusual among crypto tax calculation software providers. On top of that, whereas other services may charge you $50 or more for a basic account each tax year, TokenTax’s Basic account is $65 a year.

This TokenTax account type simultaneously supports the import of up to 500 transactions and features full TurboTax integration. However, due to its expensive price and a limited number of supported cryptocurrency exchanges, TokenTax is not a good choice for those on a tight budget.

2. Premium Account

There is some logic to upgrading to a premium TokenTax account. It works with every cryptocurrency exchange worldwide and can process up to 5,000 transactions per second. Additionally, this TokenTax account tier features automatic interfaces for DeFi-related operations, including margin trading on BitMEX, Deribit, and By bit.

Tax loss harvesting is a feature available to account holders that may be used to look for ways to reduce a person’s yearly tax liability. This account level costs an extra $99 compared to the average crypto tax accounting platform’s intermediate account level, but it has a more robust feature set.

3. VIP Account

If you’re a big roller who trades a lot of cryptos each year, you might consider upgrading to a TokenTax VIP account. You may import up to 30,000 crypto transactions, and this will support all available DeFi projects.

Aside from the standard fare offered to both Basic and Premium users, VIPs also have access to sophisticated crypto reconciliation. This is useful when tax has been overlooked or employing more intricate trading techniques.

Those upgrading to the VIP tier of TokenTax may also use two 30-minute meetings with a tax professional to answer their crypto taxation issues. Finally, it is important to mention that VIP members of TokenTax receive support throughout an IRS examination.

Benefits

Since the platform does not demand any comprehensive information, the procedure as a whole is pretty straightforward. Token taxes also have the following benefits:

1. Includes full remittance support. TokenTax only supports 85 exchanges. However, its team will ensure that your trades are recorded in your account if you supply a CSV from an unsupported exchange.

2. Saving money on taxes by making use of past losses. To those with Premium and above plans, TokenTax offers advice on how to minimize their tax burden.

3. Accepts both the DeFi and NFT protocols. Specific DeFi protocols and NFT markets are integrated within the Premium and Pro tiers. In addition, the VIP plan incorporates all of the extras.

4. Is willing to take cryptocurrency as payment. Only a few crypto tax apps, like TokenTax, will take tokens as payment. You can make your payment in USDC, DAI, BTC, or ETH.

Drawbacks

TokenTax also has several disadvantages.

1. It is pricey. Although the price of its Premium plan is comparable to other cryptocurrency tax software. Coinbase customers access the company’s most economical plan, which costs $65 per month. Its VIP subscription costs $3,500.

However, it only covers 30,000 transactions, which pales in contrast to competitors like ZenLedger and Taxbit, which allow limitless transactions.

2. No returns. No refunds are available through TokenTax since the company will do all it takes to ensure that your cryptocurrency tax data is accurate.

3. Included in this package is only Form 8949. You are responsible for completing any additional tax forms that may be necessary, such as Schedule D.

Key Advantage of TokenTax

The greatest strength of the TokenTax platform is that it is designed to do much more than merely simplify the yearly tax filing process. To support the program, CPAs are ready to answer any questions regarding crypto taxes and advise you on money-saving strategies to reduce your overall tax liability.

Hiring a crypto tax accountant is more expensive than utilizing tax preparation software, but it is worth it for people anticipating a large crypto tax bill for the year. TokenTax’s universal compatibility with cryptocurrency exchanges and tax jurisdictions is another major selling factor.

TokenTax has thought of everything, so any crypto user, no matter where they are in the globe, may use it to keep track of their tax filings. While TokenTax’s interfaces with the largest cryptocurrency exchanges are more robust, trade data from any exchange that exports to a CSV file may be entered into TokenTax.

Additionally, the platform’s support for all tax jurisdictions worldwide is evidence of its commitment to serving the requirements of all cryptocurrency investors. The homepage of TokenTax also features several testimonials from well-known crypto industry figures.

Having high-profile figures like Messari’s CEO Ryan Selkis and CoinShares’ CSO Meltem Demirors vouch for TokenTax will reassure potential customers that they’re safe. Compared to other crypto tax reporting platforms, TokenTax has received far more endorsements from well-known figures in the crypto community.

Finally, it’s worth noting that TokenTax may serve as a replacement for all of your current tax account software needs. TokenTax isn’t only focused on the cryptocurrency industry; it also provides a comprehensive plan for individuals who want to utilize it for all their tax demands.

Obstacles to a Possible Agreement

Although TokenTax appears to have the most functionalities, there are a few drawbacks to consider before deciding to use this platform as your crypto tax software solution.

To start, there is the question of the platform’s high price. Furthermore, the Basic account only supports two exchanges, which is $20 more expensive annually than other high-quality crypto tax applications on the market.

People with many cryptocurrencies in their portfolio would likely benefit from the extra features available with a Premium or Pro subscription. Still, those who need a simple, low-cost solution for their crypto taxes should seek elsewhere.

TokenTax’s lack of features as a cryptocurrency portfolio tracker is another possible drawback. Many cryptocurrency investors would benefit from being able to monitor their crypto holdings and file tax returns using a single app, but this is not an option with TokenTax. However, if you have a Pro or Enterprise account with TokenTax, you may easily import your Blockfolio crypto portfolio data.

Frequently Ask Questions (FAQ’s)

The following are the questions that are asked the most commonly about Tokentax:

Which country is supported?

TokenTax stands out among similar services since it can assist cryptocurrency investors in any jurisdiction. TokenTax can provide its full suite of products and services for calculating the taxes related to your crypto capital gains and losses over the past year, regardless of location. It includes long-time bitcoin holders in the United States and new crypto traders in Southeast Asia.

In contrast to the majority of competing crypto tax software solutions, TokenTax supports every scenario without specifying which nations are covered on the website.

Is it risk-free to utilize TokenTax?

TokenTax encrypts your data using TLS, so it is not visible to anyone else. The only information it gathers is your transaction data and email address. Suppose you are particularly worried about the privacy of your data. In that case, you should join TokenTax with a “burner email address,” which is an email account used just for TokenTax, and pay with cryptocurrency.

We hope you enjoyed our Tokentax review. You might also like our Yieldnodes review!

Via https://medium.com/@crypto_bits/tokentax-review-the-best-crypto-tax-software-2022-1d6016ebc09a?source=rss-e787423ae68d------2

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