Security and Privacy-Your Questions Answered | CoinLedger Help Center (2024)

At CoinLedger, respect for the security of our users' data is foundational to our company and the products we offer. Below, we'll explain our security and privacy philosophy, and why you can be 100% confident in the safety of your data when using our service to do your crypto taxes or track your portfolio.

Every aspect of our app-from the sign-up page, to the import process, and the final steps of generating your tax reports or tracking your portfolio-is designed with protecting your privacy and personal information in mind.

This starts when you first sign up for our service. When creating a new account, we don't require any personal identifying information from our users. All that's needed to open an account with us is a valid email address-we will never prompt our users to share any of their personal information, such as a Social Security number, address, phone number or sensitive financial data. This data is not needed to do your crypto taxes.

CoinLedger does not report any of your tax information to the IRS. Since we're not a cryptocurrency broker, we are not obligated by law to send any of your data to the IRS.

CoinLedger enforces a password complexity standard and all credentials are hashed using a PBKDF2 function with HMAC-SHA256, 128-bit salt, 256-bit subkey, 10000 iterations.

All data sent to or from CoinLedger is encrypted in transit using 256 bit encryption. Our API and application endpoints are TLS/SSL only.

All of our servers are within our own virtual private cloud (VPC) with network access control lists (ACLs) that prevent unauthorized requests and malicious agents from getting to our internal network.

CoinLedger was built with disaster recovery in mind. Our infrastructure is spread across multiple availability zones and will continue to work should any one of them fail.

All payments made to CoinLedger are processed through our payment partner, Stripe. Information about their security and PCI compliance can be found on Stripe’s security page.

Exchange integrations require an API connection or a transaction history file to be uploaded. During API imports, CoinLedger requires read-only permissions and never has access to your funds or your private keys. During file imports, CoinLedger only reads the relevant transaction history into memory before discarding the file. Your personal information is never saved into our database.

From within your account, you have the ability to delete all transaction data and exchange API connections. This will completely delete all trades, incoming transactions, outgoing transactions, and exchange account connections. Learn more here.

Please note that no one at CoinLedger will ever contact you over the phone or via text message. CoinLedger does not offer phone support and will ONLY contact you via email (or through Intercom chats if you have initiated a conversation with us). We will NEVER contact you via phone.

CoinLedger does not collect personal information such as phone numbers, addresses, or Social Security numbers from its users.

Still have questions about your account data? We encourage you to reach out to our Customer Support Team anytime!

Security and Privacy-Your Questions Answered | CoinLedger Help Center (2024)

FAQs

Do I report crypto if I didn't sell? ›

Do you need to report taxes on Bitcoin you don't sell? If you buy Bitcoin, there's nothing to report until you sell. If you earned crypto through staking, a hard fork, an airdrop or via any method other than buying it, you'll likely need to report it, even if you haven't sold it.

Do you have to pay taxes on bitcoin if you don't cash out? ›

If you're holding crypto, there's no immediate gain or loss, so the crypto is not taxed. Tax is only incurred when you sell the asset, and you subsequently receive either cash or units of another cryptocurrency: At this point, you have “realized” the gains, and you have a taxable event.

Is CoinLedger.io safe? ›

All data sent to or from CoinLedger is encrypted in transit using 256 bit encryption. Our API and application endpoints are TLS/SSL only.

How do I contact CoinLedger? ›

How to contact us. Our Support Team can be reached via email at [email protected]. To reach us via live chat, simply hit the chat icon in the bottom right corner of your screen to begin a conversation. Within this pop-up menu you can select Messages to see any of your previous conversations with our Support Team.

Can you lose money in crypto if you don't sell? ›

Yes, it's possible to lose money in cryptocurrency even if you don't invest. Cryptocurrency prices can be highly volatile, and if you hold any cryptocurrency without selling or trading it, the value can decrease significantly.

What is the fine for not reporting crypto? ›

Not reporting your cryptocurrency transactions can result in civil fines and penalties of up to $100,000 and criminal sanctions of up to five years in prison.

How long do you have to hold crypto to avoid capital gains? ›

If you sell cryptocurrency after owning it for more than a year, you'll pay long-term capital gains.

Should I cash out my crypto? ›

The decision to cash out crypto or Bitcoin depends on your financial goals and market conditions. You may want to lock in gains, cut or harvest losses for taxes, or simply use your digital assets in the real world.

What is the tax on Bitcoin? ›

Gains made from trading cryptocurrencies are taxed at a rate of 30% (plus 4% cess) according to Section 115BBH. Section 194S levies 1% Tax Deducted at Source (TDS) on the transfer of crypto assets from July 01, 2022, if the transactions exceed ₹50,000 (or even ₹10,000 in some cases) in the same financial year.

Does CoinLedger work for the UK? ›

Yes. Ledger operates legally in the UK.

How much does a CoinLedger cost? ›

CoinLedger Pricing & Fees

Hobbyist: $49/year, supports up to 100 transactions. Day Trader: $99/year, supports up to 1,500 transactions. High Volume: $159/year, supports up to 5,000 transactions. Unlimited: $299/year, supports complete transactions.

How do I cancel my CoinLedger account? ›

You may cancel or suspend your Paid Services by contacting CoinLedger at [email protected]. Unless expressly stated to the contrary, we do not guarantee refunds for lack of usage, dissatisfaction or any other reason.

What does CoinLedger do? ›

CoinLedger offers a suite of products designed to aid cryptocurrency enthusiasts on their investing journey. Tax software that allows you to report all your transactions in minutes. Free portfolio tracking so you can keep a close eye on all of your crypto holdings.

Where is CoinLedger headquarters? ›

Where is CoinLedger's headquarters? CoinLedger's headquarters is located at 1336 Ne 106th Terrace, Kansas City.

What happens if I forgot to report my crypto? ›

What happens if I don't report cryptocurrency on my taxes? The IRS is perfectly clear crypto is taxed and failure to report crypto on your taxes may result in steep penalties. The punishments the IRS can levy against crypto tax evaders are steep as both tax evasion and tax fraud are federal offenses.

Do I have to report that I bought crypto? ›

You must report income, gain, or loss from all taxable transactions involving virtual currency on your Federal income tax return for the taxable year of the transaction, regardless of the amount or whether you receive a payee statement or information return.

Do I need to report stocks if I didn't sell? ›

You don't report income until you sell the stock. Your overall basis doesn't change as a result of a stock split, but your per share basis changes. You'll need to adjust your basis per share of the stock. For example, you own 100 shares of stock in a corporation with a $15 per share basis for a total basis of $1,500.

Do you have to report crypto withdrawals? ›

Not reporting your cryptocurrency transactions to the IRS is considered tax evasion — a serious crime with serious consequences. The maximum penalty for tax evasion is 5 years in prison and a fine of $100,000.

Top Articles
What are the steps to configure SMS settings on a mobile device?
SMS Backup and Restore: Best Methods and Apps for 2024
Lorton Transfer Station
Canary im Test: Ein All-in-One Überwachungssystem? - HouseControllers
Brgeneral Patient Portal
Hotels Near 500 W Sunshine St Springfield Mo 65807
Call Follower Osrs
Imbigswoo
Garrick Joker'' Hastings Sentenced
Aita Autism
Tokioof
Jvid Rina Sauce
Seattle Rpz
Colts Snap Counts
Curtains - Cheap Ready Made Curtains - Deconovo UK
Roster Resource Orioles
Labby Memorial Funeral Homes Leesville Obituaries
Boscov's Bus Trips
Military life insurance and survivor benefits | USAGov
Yisd Home Access Center
Little Rock Skipthegames
yuba-sutter apartments / housing for rent - craigslist
Talkstreamlive
Colonial Executive Park - CRE Consultants
Kohls Lufkin Tx
Xxn Abbreviation List 2017 Pdf
Bolly2Tolly Maari 2
Www.1Tamilmv.con
Till The End Of The Moon Ep 13 Eng Sub
How To Make Infinity On Calculator
Lil Durk's Brother DThang Killed in Harvey, Illinois, ME Confirms
Microsoftlicentiespecialist.nl - Microcenter - ICT voor het MKB
What Time Does Walmart Auto Center Open
Ljw Obits
Radical Red Doc
Pawn Shop Open Now
Vivek Flowers Chantilly
Craigslist En Brownsville Texas
Academy Sports New Bern Nc Coupons
Author's Purpose And Viewpoint In The Dark Game Part 3
Ferguson Showroom West Chester Pa
Bill Manser Net Worth
Hovia reveals top 4 feel-good wallpaper trends for 2024
Truck Works Dothan Alabama
Ucla Basketball Bruinzone
Enr 2100
Pickwick Electric Power Outage
Pas Bcbs Prefix
Craigslist Free Cats Near Me
Tyrone Unblocked Games Bitlife
Craigslist.raleigh
WHAT WE CAN DO | Arizona Tile
Latest Posts
Article information

Author: Terence Hammes MD

Last Updated:

Views: 5748

Rating: 4.9 / 5 (49 voted)

Reviews: 80% of readers found this page helpful

Author information

Name: Terence Hammes MD

Birthday: 1992-04-11

Address: Suite 408 9446 Mercy Mews, West Roxie, CT 04904

Phone: +50312511349175

Job: Product Consulting Liaison

Hobby: Jogging, Motor sports, Nordic skating, Jigsaw puzzles, Bird watching, Nordic skating, Sculpting

Introduction: My name is Terence Hammes MD, I am a inexpensive, energetic, jolly, faithful, cheerful, proud, rich person who loves writing and wants to share my knowledge and understanding with you.