Sanjeev Sabhlok's notes on technology, hardware, gardening

Category: cryptocurrency

Using Cointracking.info for cryptocurrency tax records

I purchased the version with API, which is broadly a good thing go do as it saves some time. But it can pretty badly mess up things, as well. Further, a couple of exchanges that I have used were not listed.

I have managed to recreate (using csv outputs, with significant manual corrections), a basic file of transactions. The generic CSV file is available here.

How to use cointracking.info effectively

  1. Prepare an initial comprehensive up-to-date set of data using APIs, etc.
  2. Export the data as a csv file.
  3. Collapse, manually, the multiple trades for a single transaction into a single trade (e.g. an exchange might purchase bits of BTC at a time as part of a single transaction).
  4. Delete the entire data on cointracking.info (use “bulk edit” option)
  5. If you need to, upload the fresh file using the “Enter coins”>Bulk imports>csv option. Otherwise, the csv file contains all relevant info for tax purposes.

 

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How to buy ICOs

ICO list: http://www.bitcoinx.com/ico-list/

DIGITALCONTENT

This is all very mysterious. I’m trying to buy this: https://digitalcontent.com/ 

but have no clue how to do it. It is a Waves based token. I’ve sent an info request to these people:  https://twitter.com/sabhlok/status/900901730354737152

The info was received, but too late. Could not buy this.

SOME HINTS

https://support.wavesplatform.com/topics/2305-how-to-trade-tokens-on-the-dex/
SUBSTRATUM

Participate in the ICO

Step 1: Somehow buy Ethereum (not too hard).

Step 2: Create an Ethereum wallet. I used Myetherwallet. 

Step 3: Then transfer to the ICO (super-complicated) using the details here.

Step 4: Substratum will send an acknowledgement email

Step 5: After a few days check if the tokens have been deposited.

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Why it is pointless to have Xapo and Coinmama accounts

I registered with Xapo and Coinmama and did not use it for a long time.

Both are utterly useless, since all you can do is buy Bitcoin (only). XAPO is also not at all secure since it doesn’t use an independent authentication application like Authy. Instead, it uses its own mobile app and FORCES you to use your phone number in order to activate the mobile app. Now, it is well known that phone numbers can be easily hijacked, so that doesn’t make any sense. Also, it makes it impossible to use Xapo while travelling across the world.

Both these are one-coin wonders, and pretty worthless.

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