If you have a cryptocurrency wallet, whether hardware (Trezor, Ledger) or software (Electrum), you may have generated a 12 or 24 word mnemonic phrase. This phrase must be kept secure because it is effectively the key to all of the funds stored in your wallet. Anyone with access to this recovery seed can access and transfer your funds, unless you have a 25th word passphrase, in which case they would require that too.

With this in mind, this is a non-comprehensive list of things not to do with your recovery seed if you want to keep your wallet secure.

Tax Software

These solutions allow you to import your exchange transactions. It then generates a tax form for you or provides a file you can import into TurboTax.

• CoinTracking: Free up to 200 transactions; starts at $110 for a one year license for up to 3,500 transactions
• TokenTax: Starts at $65 for a one year license for up to 500 transactions; full service option available
• CoinTracker: Starts at $49 for one tax year for up to 100 transactions
• Bitcoin.Tax: Starts at $29.95 for one tax year for up to 1,000 transactions
• CryptoTrader.Tax: Starts at $49 for one tax year for up to 100 transactions
• ZenLedger: Starts at $149 for one tax year for up to 500 transactions

Feedback Welcome

Have you used any of these services? Let us know how your experience was. We’d love to hear about more services to add to the list as well.