As with any other form of currency, keeping track of Bitcoin is essential to smart spending and saving. Fortunately, tracking Bitcoin is becoming easier, and the biggest Bitcoin exchange, Coinbase, has recently teamed up with Mint.com to include Bitcoin tracking in their popular personal finance app.
Mint was the first personal finance app that allows consumers to track their Bitcoin holdings. Now, in addition to having a reliable finance tracker for traditional financial transactions, Bitcoin users can track their Bitcoin value any time on their computer or mobile device.
Some people are paid their salaries in Bitcoin, and reporting can be complex. For example, if someone is paid in Bitcoin, it is worth a certain amount of US dollars at that time. But if the employee then decides to sell his Bitcoin for a profit, that profit is considered capital gain. Therefore careful tracking of Bitcoin is critical in order to accurately report gains or losses at tax time. Having a reliable finance tracker is essential to accounting for Bitcoin as it intersects with traditional currency.
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