How to do your MediBloc (MED) taxes with Koinly
MediBloc (MED) is a decentralized blockchain-based healthcare information ecosystem built with the purpose of securely managing patient data.
If you're using MediBloc (MED) then you may have a tax bill. Koinly can calculate your crypto taxes when you sync it with your read-only MediBloc (MED) data. Here's how.
Follow these steps to sync your Medibloc (MED) data automatically to Koinly:
- Open your Medibloc (MED) wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Medibloc (MED) in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
Please note that transaction history imported via this integration may be incomplete due to API limitations. NFT transactions, liquidity operations, and older activity may require manual entry to ensure full accuracy.
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FAQs
What is MediBloc?
MediBloc is a blockchain-based health information system. It was designed to securely handle health data, encourage users to take control of their own medical records, and connect them with other users and healthcare providers. The platform uses the MED token to facilitate payments and encourage users to contribute accurate health information.
Is MediBloc safe?
MediBloc is considered fairly safe. Medical records are classed as sensitive information, so MediBloc has some security measures in place to ensure these remain private. Health data is not recorded directly on the blockchain, it is encrypted and stored and managed on the user's device. Secure servers are used during the data sharing process. Users also have decentralized ID (DIDs) for secure authentication. As with all online systems, it can be targeted by the usual security issues such as phishing, and the MED token is subject to market volatility. It's best to DOYR around security practices when it comes to handling your sensitive data.
Does MediBloc provide tax documents?
MediBloc does not provide tax documents. However, if you sync your Medibloc read-only data with Koinly, it can calculate your gains, losses, and income, and generate complete tax reports.
