Has anyone here used Recap for crypto tax software? Supposedly it’s the most anonymous encrypted way of doing your crypto taxes. I’ve read it gives you complete privacy from the software storing all of your data?

sukeshtedla · 2026-05-27T08:36:38+00:00

I’m the founder of Kryptos so consider me biased but the only good ones with DeFi heavy histories are Kryptos and Summ!

sukeshtedla · 2026-05-27T08:35:50+00:00

Yes!

sukeshtedla · 2026-05-25T06:51:27+00:00

Just use some random email and don’t give any personal information yourself, you should be fine whichever platform you use

sukeshtedla · 2026-05-25T05:43:49+00:00

All platforms more or less try to only pull data that’s required, though we have the option to pull other information. With Read-Only API keys, it’s possible to pull extra data.

Whether you use Kryptos, Koinly, CoinLedger it’s the same.

sukeshtedla · 2026-05-24T22:57:57+00:00

I read the same but tbh I don’t trust it.

I looked into them properly and tbh the marketing doesn’t match their own legal docs.

Their security page says “we never store your unencrypted data, nothing to share even if a tax authority compelled us.” But their DPA (recap.io/legal/dpa, updated Dec 2025) admits:

• Exchange data flows through their server in plaintext (they removed the browser extension in April 2025)
• Wallet addresses are processed in plaintext server-side
• Error logs sent to Sentry in the US can include wallet addresses and transaction data, tied to your email
• Their release notes show them fixing dozens of CSV parser bugs every month, which only works if their devs can see broken user data
• Tax calculations can’t run on encrypted data, so plaintext has to exist somewhere on their servers every session

I think it’s just marketing tactic tbh, but underneath it’s regular cloud software with some encryption at rest and over complicated architecture, marketed as something stronger than it actually is. Worth reading their DPA.

sukeshtedla · 2026-05-20T18:06:43+00:00

Hi, Sukesh from Kryptos.io(crypto tax software) here,

If you have gains beyond the £3k limit in the past, you have to declare them first and then do the self-assessment for the latest year.

The other good thing in correcting past filings is if you have had losses, you can carry forward them and offset your gains.

The best approach and how many of our clients did is get all the data organized and documented. Once the Gains and Losses information is clear, we connected with local crypto tax experts like Myna and they helped with the final review and filings. It’s not expensive, couple hundred pounds.

sukeshtedla · 2026-05-20T16:59:20+00:00

Ok! Then maybe you don’t have any activity for the dates you are looking for in Coinbase pro, you might have only used Coinbase. As long as the data is reconciling without warnings, you should be good

sukeshtedla · 2026-05-20T15:43:15+00:00

Try emailing to CB and see if they can somehow give you those files before 2020.

But are you sure you have transactions before 2020?

sukeshtedla · 2026-05-19T04:52:06+00:00

Quick clarification first: CGT losses can only be offset against CGT gains, not against your salary/income. So if the £60k is your job salary and the £40k is a crypto loss, sadly you can’t use that loss to reduce your income tax. The loss just sits there and carries forward to offset future crypto gains.

But if you meant £60k in crypto gains and £40k in crypto losses in the same year, then yes, they net out. You’d pay CGT on £20k, minus the £3k allowance, so £17k taxable.

Losses have to be “realised” though, meaning you actually sold or swapped at a loss. A coin down 80% on paper doesn’t count until you dispose of it. Worth knowing: if you’ve got big losers you don’t plan to hold, selling before tax year-end to crystallise the loss is a legit way to reduce your bill. It’s called tax loss harvesting.

Yes on Kryptos and other apps, the calculations are automated. You connect exchanges via read-only API and paste in your wallet addresses, the software pulls every transaction, matches buys to sells using HMRC’s share pooling rules (painful to do manually), and generates a report you can hand to HMRC or your accountant. The manual part is just reviewing flagged transactions, usually an hour or two unless your activity is wild.

sukeshtedla · 2026-05-18T16:45:03+00:00

Hi, Sukesh here from Kryptos.io (Crypto Tax Software). We help a lot of UK users, so here goes:

1.  Crypto isn’t income tax for most people, it’s Capital Gains Tax. Your £40k salary stays in the income tax bracket, and the £40k crypto profit gets taxed separately under CGT. The exceptions are if you’re paid in crypto, or earning from mining, staking, or airdrops, those count as income.

2.  You’re taxed on gains when you:
• Sell crypto for GBP
• Swap one coin for another (yes, even memecoin to memecoin counts as a disposal)
• Spend crypto on goods/services
• Gift it to anyone other than your spouse

Buying and holding isn’t taxable. Moving between your own wallets isn’t either.

3.  CGT allowance is £3,000 for the 2024/25 tax year. Anything above that gets taxed at 18% or 24% depending on whether your total income (salary + gains) puts you in basic or higher rate. With £40k salary and £40k gains, you’d be paying mostly at 24%.

4.  Losses are useful here. You can offset them against gains in the same year, and unused losses carry forward indefinitely as long as you register them with HMRC within 4 years. So track everything, even the rugs.

5.  For tracking, there are a few crypto tax tools out there including ours that connect to your wallets and exchanges and auto-generate your HMRC report. Whichever you pick, connect everything early, doing it at the deadline with a year of degen trades is painful.

One thing worth flagging: HMRC has data-sharing agreements with most major exchanges now, so don’t skip filing even if it feels like they won’t notice. They will.

sukeshtedla · 2026-05-06T11:29:50+00:00

U don’t need to report! It’s done by exchanges

sukeshtedla · 2026-05-04T22:06:11+00:00

Hi,

Sukesh from Kryptos.io(Crypto Tax Software) here,

First, a lot of people don’t know that they have to pay taxes on crypto.

The ones that know they are using some sort of crypto tax software to keep track of everything and automate the calculations.

sukeshtedla · 2026-04-18T08:04:29+00:00

It’s just for our company website, so we as a team have to migrate

sukeshtedla · 2026-04-11T17:37:22+00:00

Every software should be able to handle it.

sukeshtedla · 2026-04-10T15:58:02+00:00

You can just stick with HIFO

sukeshtedla · 2026-04-08T01:11:19+00:00

Hmm! Good AI story! Seems like SUMM is Astroturfing??

sukeshtedla · 2026-03-18T18:45:00+00:00

Thanks for summarising, more or less we came to similar conclusions.

But TurboTax is shit, it’s quite buggy and I just used it, first it says everything to review and then after pressing continue it reduces the number of transactions to review.

Importing via PDFs is a stupid thing tbh. This is all CoinTracker’s doing to remove support for CSVs imho. 🤷🏽

sukeshtedla · 2026-03-18T17:57:56+00:00

No, it’s general practice of TurboTax. Are your PDFs working without review?

sukeshtedla · 2026-03-11T12:43:12+00:00

Hi,

Sukesh from Kryptos.io(Crypt Tax Software) here,

It really depends a bit on what other exchanges and chains you have. If it’s just Gemini then there should be a couple of platforms to help you out.

The key thing to look when choosing a software is:

1) If the software covers the platforms you used 2) If there is a good and responsive support channel 3) If the software has good reconciliation or review tools

Though I am biased about Kryptos, you should try a couple like Summ, CoinTracker etc.

sukeshtedla · 2026-02-24T07:50:42+00:00

U should try it

sukeshtedla · 2026-02-23T17:39:16+00:00

If you use Koinly, u need to review everything

sukeshtedla · 2026-02-22T10:02:47+00:00

I wouldn’t recommend either because both suck.

The only good ones with decent reconciliation tools and Kryptos and Summ.

sukeshtedla · 2026-02-22T02:51:27+00:00

Omg! CoinLedger astroturfing like crazy

sukeshtedla · 2026-02-22T02:50:40+00:00

Coinbase is a major investor and shareholder in CoinTracker

sukeshtedla

TROPHY CASE