Cryptiony is a web application that helps cryptocurrency users to calculate the digital assets tax and to monitor them in real-time.
Tell us about yourself?
I am the CEO & co-founder of Cryptiony. Before the Cryptiony I worked as a back-end software engineer for over 8 years for banks, payments & blockchain solutions. I executed the first cryptocurrency transaction in 2013.
As an active cryptocurrency user I faced the problem with the tax calculations every year. That is why I decided to create my own application that solve that issue for my personal use only. It turns out that a lot of friends of mine faced the same issue. As a result I came up with an idea to launch a business from it.
If you could go back in time a year or two, what piece of advice would you give yourself?
“You will never regret being brave”. It was a difficult decision to leave 9 to 5 well-paid job in the big corporation. I risked to get out from my comfort zone and set up a startup in Poland. But what can I say? It was definitely worth it and fortune favours the brave.
What problem does your business solve?
Cryptiony builds a web platform that calculates digital assets tax liabilities and allows for monitoring them in real-time.
What is the inspiration behind your business?
The business idea was inspired by the problems on the market.
Crypto exchanges and crypto brokers do not provide tax reports (like PIT-8C for the stock market in Poland). Tax calculation is extremely time-consuming. There are not enough tax professionals in Poland who offer crypto tax services. People cannot track their tax liabilities in real-time. When a tax return form is filling, it is too late for tax optimization.
What is your magic sauce?
Cryptiony is the first application for the Polish market which calculates digital assets tax liabilities and allows for monitoring them in real-time!
Compared to foreign competitors, synchronizations with exchanges work smoothly due to the used cloud computing and proprietary algorithms. People loved our app because they save time and money and they can take control over tax liabilities (tax optimizations).
What is the plan for the next 5 years? What do you want to achieve?
We want to prepare B2B offer for tax professionals (accountants, accounting offices). We started working on our B2B solution, so this is rather short-term plan.
Additionally, we want to create digital assets portfolio tracker/manager, so Cryptiony will be an useful app for all cryptocurrency users on daily basis.
Our most ambitious plan at the moment is foreign expansion. In the next five years we want to be a global leader. We have very satisfied customers in Poland, a great team with great ambitions, so I know we can do it.
What is the biggest challenge you’ve faced so far?
The law has a changing character in every country and laws are different from country to country. Our application must comply with the laws of the country in which we want to operate. The next challenge is fact, that very often, the APIs of the exchanges with which we integrate are not enterprise ready, i.e. they work well for one user, but when our software performs thousands of requests, many problems arise.
How do people get involved/buy into your vision?
We want influencers to start collaboration with us. They can join our affiliate program here: https://cryptiony.com/program-afiliacyjny. Also we are looking for investors and business angels that can help us to boost our software globally. They can reach us by email: [email protected]
