Building an Innovative Tool for Enhancing Crypto Taxes Management and Payment Workflow
A new solution has been developed for Web and Mobile for cryptocurrency tax calculations. With this tool, the workflow has become 30% faster with tax reporting in just 20 min. More than 20 governments have already accepted our tax reports. Also possesses multilinguistic functions of 5 languages for Mobile & Web apps.
Goal
Our customer wanted to get solutions for this project that are aimed to:
- Increase the speed of reports production (decrease the time and actions before sending this report to the tax agencies).
- Have the ability to import transactions from multiple data sources (crypto wallets, exchanges, etc.). In addition, it must work with margin/futures, DeFi’s, and stacking platforms.
- Create the platform, accessible from any device (desktop, laptop, tablet, or smartphone) and multilinguistic (English, German, French, Swedish, etc.).
Challenges
Creating a complex project meantime following prior goals our team encountered several difficulties to overcome.
Our main challenges that were resolved to foster the project:
- Secure login: as the platform is connected with finances, it was a time-consuming process of providing high-level security for mobile & web login with lots of captchas, password encryption, etc.
- Development & maintenance of three apps simultaneously: landing, web, and mobile.
- In-app updates for mobile app: without leaving it to the Google Play store or App Store.
- App translation for many languages & data import for each platform, including mobile apps.
- Unify user experience from multiple platforms, practices, etc.
Solutions
Our team created an innovative mobile project from scratch aimed to contain all web-version features including graphs, filters, transaction import, and much more. As a time-efficient. mobile app it provides a huge amount of diverse documentation (including form 8949 and transaction history). Also, the app is oriented towards crypto integrations and the login ability to add new wallets. This project has been built as a combination of high-level security with in-app updates and internalization.
Technologies
Mobile: React Native, Redux, Document picker, WebView.
Web: React, Redux, Google Analytics, i18n, Highcharts.
Infrastructure
We’ve chosen Netlify as the primary solution for infrastructure. The components of the app are connected with REST API. Of course, the CI/CD process with new features previews before deployment helps us with the speed & reliability of the development.
Technologies: Netlify, REST.
Outcomes
Our team has built a high-tech crypto taxes project that helps our customer manages the workflow and payment making-process. Therefore, the usage of this app and our software helps customers create their annual crypto reports within just 20 minutes. This result makes the management project not only easy to use but time-effective. Moreover, the app calculates the cryptocurrency value and provides lots of analytics for portfolio trends, margin gains, etc.
Our specialists are always ready to find the right solution with maximum effort to the project innovative, high-quality and multifunctional.
Ready to talk? Contact us: ask@wellnutscorp.com
