Decrypted Tax
FreemiumWeb
What is Decrypted Tax?
Decrypted Tax helps cryptocurrency investors calculate and file their tax obligations. The tool handles crypto-specific transactions like DeFi yield farming, NFT sales, and staking rewards, then generates compliance-ready reports suitable for accountants or tax authorities. It integrates with over 500 exchanges and blockchain platforms, automatically importing transaction history to reduce manual data entry. The service combines automated calculation with optional access to tax professionals who can review your positions and prepare formal filings. This makes it useful for anyone holding crypto who needs to report capital gains, losses, and miscellaneous income to HMRC or equivalent tax bodies.
Key Features
Multi-exchange integration
connects to 500+ crypto exchanges and DeFi protocols to pull transaction history automatically
DeFi and NFT support
recognises complex transactions including liquidity pools, yield farming, wrapped tokens, and NFT trades
Tax report generation
produces compliance documents with cost basis calculations and capital gains summaries
Professional review option
offers access to tax specialists who can audit your report and prepare formal filings
Free tier availability
basic reporting and calculation without charge; premium features enable professional services
Pros & Cons
Advantages
- Handles crypto-specific transactions that standard tax software ignores, such as DeFi rewards and staking income
- Reduces manual work by pulling transaction data directly from exchanges rather than requiring CSV uploads
- Optional professional support available through the same platform, avoiding need to hire separate accountant
- Free tier lets you test the tool and generate basic reports before paying for professional assistance
Limitations
- Tax rules for crypto vary significantly by jurisdiction; tool may require customisation for non-UK users
- Professional preparation services likely involve additional cost on top of the software subscription
Use Cases
A UK investor with holdings across Ethereum staking and Uniswap liquidity pools needing to report income and gains to HMRC
Someone who purchased NFTs and made sales, requiring transaction records and cost-basis tracking for capital gains reporting
A crypto trader using multiple exchanges who wants to avoid manually reconciling transactions across platforms
A person receiving staking rewards or yield farming income who needs to declare this as miscellaneous income
An investor preparing for a tax audit and needing audit-ready documentation with clear transaction trails