ProfitStance Announces Launch of Cryptocurrency Accounting and Tax Platform Beta

ProfitStance, the first comprehensive and fully automated accounting and tax reporting solution for cryptocurrency investors, announced the launch of its invitation-only beta platform. Invitations containing access codes will be sent out this week to thousands of wait-listed investors, enabling recipients to immediately use the platform.

Additionally, as a thank-you to beta customers, ProfitStance also will provide three bonus access codes to these investors, which can be sent directly to friends and colleagues to provide them with immediate platform access. In addition, ProfitStance will provide historical tax documents (for all years in which a customer held cryptocurrency) free of charge as a special one-time bonus for beta customers upon payment for 2018 tax year documentation.

“We are thrilled to announce the launch of our beta platform, and excited to unveil the tools we’ve developed,” said Corey Blaser, chief executive officer, ProfitStance. “In a nascent ecosystem marked by complexity, fragmentation and uncertainty around rules and tax guidance, the potential for incorrect tax calculations and tax filings is high. ProfitStance is solving this problem by providing an easy-to-use, accurate and automated system that will give investors the peace of mind they need and deserve.”

The ProfitStance platform currently supports 178 virtual currencies and the most popular exchanges and wallets, which enables it to handle nearly any cryptocurrency portfolio. The company is adding more exchanges, wallets and currencies each day. The platform also provides a frictionless experience for users via integration with wallets and exchanges, and acts as a repository where users can securely aggregate and analyze their crypto portfolios.

“We believe that in order for the cryptocurrency market to advance and grow, intelligent infrastructure that enables investors to feel safe about their information and confident about their compliance is required,” said Alexis Callahan, ProfitStance’s EVP of investor relations and partnerships. “We developed the ProfitStance platform to satisfy these needs and to provide investors with comprehensive insight into their crypto portfolios.”

Due to unprecedented pre-beta demand, the platform is not immediately available to the general public, though the company plans to release its full version in early January 2019. In the meantime, investors can sign up for beta access, which will place them on a wait list and which will provide the same bonus access codes and historical tax year documentation upon registration.