Are you keeping your crypto records?

[Remainder]

It occurred to me that if I wanted to get rid of everything I'd be liable for capital gains and if The Man wanted to know the origins of those funds I'd better get my house in order as it's rather convoluted.

To those ends I've dug out all the old private keys I could find, noted forum posts for giveaways and taken screenshots of exchange histories to show to my tormentors.

Say if something like Byteball really did end up ginormous that's a lot of money for nothing coming from a mystery origin unless you have some sort of paper trail such as your forum posts or wallet backup.

Are many people here doing the same thing? It may pay off a long way down the line so it's worth a few hours of notation and tucking those things away.

Technically, yeah.

It is obviously best if you keep track of every transaction that you make, note down every change address that you use so that if there was some sort of tax problem with you having bitcoin then it can be solved quickly by providing these necessary proofs.

What I do is i keep notes of basically what each transaction is spent on on my wallet. This way, i am able to keep track without keeping every online receipt which is really quite a hard task to achieve.

But still, i've seen many people that don't keep track at all - it is extremely rare that the government is going to chase you down for bitcoin related taxation issues, because there are so little people using it atm that it's not worth it. I haven't heard of anyone personally, either. Most of the times they don't even know that you're using btc unless you're blatantly transacting thousands from your bank account to coinbase daily.

Yes that's true, even me I don't track keep track of my bitcoin or other crypto-currencies for now and I just let my bitcoin wallet provider to do such thing of record keeping of all my bitcoin transactions.

[digez]

I'm living in a country where BTC isn't taxed, The tax system itself is indirect putting the taxes on items and goods rather than taking it directly from the citizens, so I am already paying these taxes whenever I buy, Of course there are regular tasks on jobs and house property rent, but nothing else.

[MostHigh]

To spend right, being it bitcoin or fiat one needs to keep expenditure records which will definitely prevent wastage and panic buying. It also aid asset valuation since you might not remember the prices of items you bought several years earlier and their selling price currently.

[pawel7777]

I'm living in a country where BTC isn't taxed, The tax system itself is indirect putting the taxes on items and goods rather than taking it directly from the citizens, so I am already paying these taxes whenever I buy, Of course there are regular tasks on jobs and house property rent, but nothing else.

And which country is that? Funny how people share all those amazing stories from their countries but shy away from naming them.

Your post doesn't make much sense. If the tax is included in the price of goods/services (VAT?), then, if you provide goods/services for bitcoins, you'd also need to charge tax (unless your government is sabotaging themselves by specifically exempting cryptos).

And not having personal income tax, doesn't mean you don't have to prove the legality of your income.

[logicgate]

No I am not really keeping a records of my crypto's,
I mean I don't see why would I save some of the history of my transaction.

Bitcoin is made to create your records.But you said about the history of my transaction.Then you should need to know what's going on with that is it safe or not.Because it is up to you how your skills are according to bitcoins

[prass tyo]

It will definitely I do to save the data, at least screnshot of the proceeds we get so far, big or small amount of money to avoid things we do not want in the future.

[joseafonso123az]

I'll say that I never saw bitcoin as a thing that I would keep records of them !
After reading this post, started to notice that it might be a thing to do eventually,  to have all of it accounted and if someone asks from where it came, you have the answers for that because you recorded it all! With cryptocurrency i bet most of the people don't think of keeping records, but it might be something that should be done, so we can keep track of every ingoing and outgoing btc from our accounts.

[pressureonme]

It will definitely I do to save the data, at least screnshot of the proceeds we get so far, big or small amount of money to avoid things we do not want in the future.

I'm also taking screenshots of my transactions doesn't matter they're big or small in volume. I also take notes about my important trades. Exchanges gives some lists but they may disappear in future.

[Ale88]

To keep this kind of history I use websites like CoinTracking

Interesting website but I don't understand which option I should use when I sell some Bitcoin for example. When I buy I choose Trade (first option), but when I sell which Out option should I use?

[Dhimas Kanjeng]

Yes right, this is the best era for cryptocurrency investment, I know cryptocurrency about a year ago and still keep records.

[CheapVccSeller]

I use a website which calculates all of my gains and losses and acts as a portfolio for me.

[gabbie2010]

Yes, I kept records of all my crypto currencies especially bitcoin although my wallet will always shows records of transactions and when ever I exchanged to fiat I recorded the amount of money received, this had been really helpful for me to know how well my trading moving.

[Amph]

there is no reason to keep tracking your altcoin, because every single of them will go to bitcoin as a final result you are better off tracking your bitcoin activity

which is not a big issue, you have all the records,in your exchange, and there is the blockchain anyway that can prove your money, but i would not reveal my cold storage in case of declaring

bitcoin itself is not taxatable anyway, just records your dumped bitcoin

[ozaz]

I haven't had to do any tax reporting yet, but I'm using cointracking.info to keep track of everything. Pretty pleased with it.

But I'll soon get to to the point where I can no longer use the free version and will need to decide whether to upgrade to the Pro version.
Pro version is about $130/year. I think this is a bit steep. I'd happily pay $70/year though.

Does anyone have any recommendations for alternatives to cointracking.info?

[Arkann]

Of course, certain records on crypto currency are kept, I duaia, everyone. They must be orderly so that they can be used. Special attention should always be given to secret keys. In the paper version, they should always be reliably hidden, regardless of whether they are often treated or not. Because if they get into bad hands, it will be very bad.