We are excited to announce that Kryptos, a portfolio tracking and crypto tax software is now available for Arbitrum – One and Nova. As the app goes live on the network, it's set to transform how users currently deal with Arbitrum taxes and boost further crypto adoption.

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About Arbitrum One

Arbitrum One is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs. An Optimistic Rollup, Arbitrum One provides ultra-fast, low-cost transactions with security derived from Ethereum. 

Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 65%+ TVL in the L2 segment. 400+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM. 

About Arbitrum Nova

An AnyTrust solution, Arbitrum Nova is a Ethereum Layer-2 scaling solution ideal for gaming, metaverse and socialfi projects, enabling instant confirmation and <$0.01 transactions with minimal trust assumptions. Since August 2022, Arbitrum Nova has been the home for Reddit community token holders from r/Cryptocurrency and r/FortniteBR.

And now with Kryptos, managing your taxable digital assets across these 400+ DeFi and NFT projects live on Arbitrum has never been easier.

Why Kryptos?

There were up to 83.4 million registered blockchain wallets in 2022 with more than 247,968 transactions every day. With so many crypto transactions happening around the world, taxes still remain a grey area.

Kryptos’s fast, simple, and reliable crypto tax solution to overcome this hurdle. The app empowers crypto users with the necessary tools to easily manage their assets and sort all the legal compliances.

The crypto tax software serves crypto investors, enterprises, and public institutions with a wide range of integrations – supporting more than 2000+ DeFi protocols, 50+ Blockchains, 100+ wallets & exchanges, and even NFTs & DeFi protocols. 

So whether one is staking or lending, or if the portfolio includes NFTs or DeFi – the platform allows users to manage all transactions in one place and calculates crypto taxes automatically in minutes. 

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“We are so excited to announce our integration with Arbitrum, a powerful layer 2 scaling solution for Ethereum. By integrating our crypto tax software with Arbitrum's wallet, we are enabling crypto users to simplify taxes and leverage tax benefits to enjoy a maximum of their Arbitrum assets. This integration also reflects our commitment to providing up-to-date and reliable tax support for our users." — Sukesh Kumar Tedla, Founder & CEO of Kryptos.

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Kryptos Simplifies Crypto Taxes For Arbitrum

Packed with multiple features like auto-detection of transactions and tax-loss harvesting, the crypto tax software optimizes tax savings and ensures users never pay extra. 

Integration Support

Apart from the massive integration support of 1000+ DeFi protocols and over 50+ blockchains, Kryptos allows users to auto-import wallet transactions through Direct API or CSV files.

Portfolio Management

Features like intelligent detection and categorizing of the transactions provide accurate analysis of these transactions, simplifying portfolio management. Users also get dedicated DeFi and NFT dashboards.

Tax Saving

The app comes with inbuilt mechanisms that not just calculate tax liability but also recognize tax-saving events. This helps users save maximum taxes which otherwise may be missed out.

Legal Compliance

Once the wallets are auto-imported, users can access their portfolio and applicable taxes right from their dashboard. The app also allows users to download crypto tax reports that comply with their local country laws.

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Crypto taxes are complicated, but not anymore. The Arbitrum integration is live on the Kryptos application and can be easily completed in just a few steps. For further details, refer to our guide here.

If you would like to calculate your crypto taxes, Sign Up on Kryptos now and avoid last-minute tax surprises. 

Key Resources:

Arbitrum Integration Guide

Arbitrum Nova Integration Guide

Crypto Tax Guides For Different Countries

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All content on Kryptos serves general informational purposes only. It's not intended to replace any professional advice from licensed accountants, attorneys, or certified financial and tax professionals. The information is completed to the best of our knowledge and we at Kryptos do not claim either correctness or accuracy of the same. Before taking any tax position / stance, you should always consider seeking independent legal, financial, taxation or other advice from the professionals. Kryptos is not liable for any loss caused from the use of, or by placing reliance on, the information on this website. Kryptos disclaims any responsibility for the accuracy or adequacy of any positions taken by you in your tax returns. Thank you for being part of our community, and we're excited to continue guiding you on your crypto journey!