Bookkeeping and Accounting for Cryptocurrency Traders

Looking for a bookkeeper and accountant for your cryptocurrency trading? We do your books, so you get more time to focus on your investment strategy. Try us for free.

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How Bench works with cryptocurrency traders

Trade confidently and keep your hedges clear—let Bench handle your bookkeeping, income tax prep, and filing all backed by one powerful platform. Bench is a hallmark in the cryptocurrency trading industry.

We get you set up

Our team invests the time to thoroughly grasp your trading activities, answer your inquiries, assist you in linking your accounts, and demonstrate how Bench functions in the cryptocurrency trading landscape.

We do your bookkeeping

Each month, your dedicated bookkeeper sorts your cryptocurrency transactions and compiles financial reports. Should they require anything from you, they'll reach out promptly.

We deliver tax-ready financials

Our team of experts is well-versed in cryptocurrency tax regulations and will tailor their approach to your trading operation's distinct requirements.

Here’s why cryptocurrency traders like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

As a cryptocurrency trader, we understand that your bookkeeping requirements can be complex and time-sensitive. That's why we take the initiative and reach out with regular updates regarding your digital assets' accounts. Have urgent queries that can't be put on hold? Rest assured, we'll get back to you in one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform empowers you to automate data inputs from most major cryptocurrency exchanges to evade common errors. We collaborate with partners like Binance, Coinbase, Bitfinex, and Kraken—ensuring your financial records are always precise and up-to-date.

See where you’re spending. Make smart decisions

Say adieu to stacks of confusing records and labor-intensive manual tracking—we automate inputs straight from your linked trading accounts. Gain insights from a centralized dashboard, allowing you to easily comprehend the state of your crypto trading business and make data-driven decisions.

people doing their bookkeeping at a table

Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for cryptocurrency traders

Cryptocurrency trading presents unique complexities in terms of bookkeeping, laws, and taxes. Transactions need to be closely tracked and recorded, with special considerations for capital gains or losses. These constantly evolving regulations can make bookkeeping feel like a daunting task for cryptocurrency traders. But with Bench, this is no longer an issue. Our software, paired with real human bookkeepers, seamlessly and accurately updates your books with every transaction. We ensure your financials align with the current tax laws specific to cryptocurrency, making sure you never miss a single tax deduction.

Our team isn't just versed with the general nuts and bolts of bookkeeping, but have in-depth understanding and familiarity with cryptocurrency trading industry. This includes knowledge of specific tax obligations such as realizing capital gains or dealing with the implications of a token swap. By dealing with these intricacies on your behalf, Bench enables you to focus more on optimizing your trades and less on the trappings of bookkeeping and taxes. You'll have peace of mind knowing your financials are in the hands of experts who live and breathe cryptocurrency regulations, delivering bookkeeping services that keep pace with your unique trading needs.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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How does the accounting differ for cryptocurrency transactions compared to traditional transactions?

The accounting process for cryptocurrency transactions presents some unique challenges as opposed to traditional transactions. Cryptocurrency operates on a decentralized network known as blockchain, and the value of these digital assets can fluctuate wildly, which creates complexities in accurately capturing their true value.

Typically, each cryptocurrency transaction must be recorded as a separate line item for accounting purposes. The transaction value must be evaluated in the relevant fiat currency (like U.S. dollars or euros) at the time of each transaction. This practice is atypical in traditional accounting where entries are not as highly detailed and are valued at a stable currency.

In some jurisdictions, cryptocurrencies are treated as intangible assets for tax purposes, implying you need to record gains or losses as asset values fluctuate. However, in some other jurisdictions, they can have a legal tender status, making the treatment different. All these factors contribute to a more complex accounting process for cryptocurrency transactions compared to traditional ones.

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How can Bench Accounting assist with tax management for my cryptocurrency trading?

Bench Accounting can significantly assist you in handling your tax management for cryptocurrency trading. We have a team of dedicated bookkeepers and tax professionals who are proficient in cryptocurrency trading regulations and tax implications. They will track your crypto transactions, manage your records, calculate gains or losses, and prepare the necessary tax reports. With Bench Accounting, you can focus on optimizing your trading strategies while we ensure your activities comply with tax laws and regulations.

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What are some specific financial regulations or compliance issues that apply to cryptocurrency trading, and how can Bench Accounting help me navigate them?

Trading in cryptocurrencies, given its relatively recent emergence, is subject to a variety of financial regulations, including Anti-Money Laundering (AML) and Know Your Customer (KYC) rules. The IRS also considers cryptocurrencies to be property, so capital gains tax applies. It's important to report gains and losses accurately to avoid penalties.

Bench Accounting can assist in numerous ways. We offer comprehensive bookkeeping services, ensuring your financial records are up-to-date and accurately reflect your cryptocurrency transactions. You also get access to a dedicated team of experts who are well-versed with the unique challenges of the crypto industry and financial regulations surrounding it.

Moreover, we can also play a strategic role in your tax planning and filing. By routinely maintaining your books, we can help you determine your capital gains or losses from your crypto transactions and help ensure you comply with all relevant tax obligations. Hence, with Bench Accounting, you can navigate the complex crypto regulations with ease and confidence.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Cryptocurrency traders

Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.

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No credit card required. By clicking ‘Start a Free Trial’, I agree to Bench’s Terms & Privacy Policy.