Do you know what Gtax is? If you make a profit in virtual currency trading, you will be obligated to pay tax, so traders must calculate profit and loss. In such cases, the Profit Calculator tool is very useful.
What is GTax?
GTax is a cryptocurrency profit and loss calculation tool that is said to be fairly easy to use even for beginners because the user interface is very simple. By reading the data exported by the exchange, the profit and loss calculation will be performed automatically. There are five types of rate plans: “Free Plan”, “Minimum Plan”, “Light Plan”, “Basic Plan”, and “Premium Plan”. Access the official website below and complete the new registration in just 1 minute.
GTax covers most of the Japanese cryptocurrency exchanges. In addition, most foreign exchanges are also supported if they are major. It is possible with major exchanges such as CoinEX and KuCoin. The operation is very easy, select the corresponding exchange from “Data import” to “Exchange selection”.
Source : Gtax
A list of exchanges will be displayed, so select the exchange whose data you want to read. The file upload screen of the selected exchange will be displayed, so you can automatically calculate by uploading the transaction history file.
Source : Gtax
GTax VS Cryptact
Besides GTax, Cryptact is very famous in Japan. Whichever you choose, it’s very convenient, but if you compare the performance, it will be as follows. Overall, GTax has much better support. However, in terms of the number of exchanges supported, Cryptact has more exchanges. Also, no matter which one you choose, only major exchanges are supported, so data from unknown exchanges cannot be handled.
|Number of exchanges supported||44||53|
|Number of virtual currencies supported||1000||6000|
|Number of users||30000||30000|
Advantages of Gtax
What are the benefits of using Gtax in the first place? It has something like:
Automatic profit and loss calculation
The biggest advantage of GTax is that it automatically calculates. It is highly rated by users because it automatically performs complicated calculations. Virtual currency has many troubles such as lending and staking, but it is very easy because it supports all of them.
GTax plans also have a free plan. If you have 100 transactions or less per year, you can use the service for free. For users who do not have many monthly transactions, it is possible to automatically calculate it for free.
Used in conjunction with accounting software
The amount calculated by GTax can also be used in accounting software. Many people use accounting software to prepare tax returns, so it will be very easy to use it together.
Recommendations for opening a free account
Bybit completes the registration process in about 1 minute, so you can easily open it. You can also open an account for free as it does not cost money. It also comes with a bonus.