Introducing Cartera: Data-Driven Solution to the Crypto Tax Accounting Problem

Cartera is a crypto accounting tool that provides an accurate and automated solution to maintain tax compliance. This article explores the current market for DeFi accounting software, and discusses how Cartera substantially improves on existing offerings.

Greetings traders — we’re excited to introduce Cartera, the most accurate crypto accounting tool in DeFi. With laws and regulations in crypto in constant flux, it’s challenging to stay compliant while trading. We know because we’re traders ourselves. We’ve amassed over $20M in transaction volume across 30k+ transactions, which means we’ve spent weeks compiling transaction reports for tax filing across numerous protocols and wallets. We know as well as you do: tax accounting in crypto is broken.

So — why don’t existing tax solutions work for DeFi? Incumbent solutions uniformly rely on the same data, specifically:

• Third-party data feeds (i.e. block explorers), and
• Manual integrations of smart contract functions for every DeFi protocol

Involving third parties and manual labor in data aggregation / tagging results in delays in supporting new protocols and often necessitates user intervention to avoid errors in tax calculation.

The fact is, outsourcing data collection and manually coding transaction types was never going to work. Cartera was founded to develop a better way. We focus on aggregating data that’s relevant for our users, rather than providing oversimplified transaction data from a block explorer. — Elias Z. (Founder)

At Cartera, our goal is to build a solution to keep your tax reporting up-to-date and accurate at any time of the year. We automate the analysis of transaction data in order to maintain total coverage of transactions on chains we support. We’ve garnered over $150m aggregate volume and ~1,000,000 transactions on our waitlist from traders who think like us, and we’re excited to build the infrastructure needed for a decentralized future.

Cartera streamlines tax reporting with its intuitive user interface and powerful transaction analytics. We’re leveraging this analytical basis to deliver powerful portfolio analytics to support traders year-round. Our first release will feature everything you need to get a comprehensive view of your portfolio and associated tax obligations:

• Capital gains and losses calculations
• Transaction history reporting
• Data aggregation from both wallets and exchanges

Future releases will leverage our comprehensive data to enable proactive tax management, portfolio / trading insights, and research into current and future holdings. We’re part of the movement to help onboard the next billion users into a new global financial system.

Cartera is on a mission to help you manage tax liabilities with ease, giving you more time to focus on doing what matters: investing in a better financial system.