Last year, I was the kind of person who “doesn’t act until I understand”: when I saw a bunch of on-chain tags claiming that a certain address was accumulating, I was also half-believing and decided not to chase it. In the end-of-year tax filing/reporting period, that first went and completely broke me—not because it was a question of profit or loss, but because the transaction records were scattered across several exchanges plus on-chain transfers between different places. Trying to reconstruct the route felt like putting together a jigsaw puzzle.

Now I’m pretty basic about it: every time I deposit or withdraw, I take a screenshot, and then I casually log a line in a spreadsheet—“from where to where, what it’s for.” And I save the cost basis according to the executed trades at that time. I’ve looked at on-chain tools too, but lately people have been saying that tags can lag behind, or even mislead you… so I trust the original evidence I kept. Anyway, as long as I don’t end up going crazy by year-end, that’s fine—don’t count on scrambling at the last minute.