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. Sign up today and get a free month of bookkeeping, valued at $299.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.
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.
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.
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
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
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.
Join over 25,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench.
Choose Plan
Bookkeeping
billed annually
Bookkeeping & Tax
billed annually
Bookkeeping
billed monthly
Bookkeeping & Tax
billed monthly
Frequently Asked Questions
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.
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.
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.
Nope! All bookkeeping is completed in-house.
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.
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
Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.