Describe the problem:
I am receiving interest payments on Nexo for small amounts. But the way that Nexo pays out results in tons of transactions, which means if I want to generate tax reports I’d have to probably switch to a more expensive tax plan. But I’m not doing anything fancy here, I feel like there should be a way to compress these transactions.
Which exchange/wallet is this regarding?
Nexo
How did you import data into this wallet?
CSV
What have you tried to fix this so far?
Agreed needs to be more fair reward tracking.
You can try what I do. Download the previous months rewards transactions, from first day to last. Toss them into a spreadsheet, total them by coin and put in a single transaction for every coin. This throws off the capital gains calculations a little, but these are usually individually small transactions, so I doubt it throws off the capital gains calculation enough to worry about it.
I feel this is more a problem with Nexo than with Koinly really.
Would be much better if they paid interest monthly instead of daily. Have you sent Nexo feedback to this effect?
I now only use Nexo for 1 month fixed terms as this leads to just 1 interest payment per month. Unfortunately means I don’t use it for earning interest on Fiat as this doesn’t have 1 month fixed option.