The Thursday Recap #1
An update on this year so far, our refer a friend scheme, Binance integration and the HMRC Self Assessment registration deadline
Thu Sep 26 2019
Welcome to our first Thursday Recap.
We’ve decided to start a weekly blog update so we can keep our community informed with what’s happening at Recap, such as the new features we’re planning and building, fixes and changes we’ve deployed, developments in the industry and anything else we think is relevant or fun.
This year so far
In January, Dan and I were working all hours to help our early beta users meet the UK tax deadline of the 31st January. I think we did a great job and helped a bunch of people accurately report (and unfortunately pay) their taxes.
In February, we started work on our Innovate UK funded work, which included adding user accounts, end-to-end encryption, data synchronisation and bringing Recap to market. This also meant expanding the team…
In May, we started to welcome new members to the team, including a UI/UX designer, a senior engineer, a junior engineer and a marketing associate.
In August, after months of hard work, we released the first version of Recap. Within a couple of weeks we had over 100 users.
Since then, we’ve released 7 updates, including adding Coinbase Pro support, revamping CSV imports, adding consent based error reporting, massively improving exchange rate lookups and squashing a number of annoying bugs, and our userbase has continued to grow.
We have a lot of work in the pipeline, but right now we’re focusing on a couple of things…
Refer a friend
Right now we’re preparing to launch our refer a friend system. Recap users will be able to share a referral code or link with their friends. The user will earn 20% commission for every friend that buys a paid plan (no limits) which they can use as a discount against a paid plan or (eventually) can be paid out directly in Bitcoin. The friends will get a 20% discount. We hope that this will reward those people who believe in what we’re doing and help spread the word.
Binance and Binance Jersey integration
We’re also hard at work on Binance and Binance Jersey integration after Binance won our twitter poll.
Binance is a particularly hard one to crack because they have so many trading pairs and we unfortunately need to query each one individually to check it for data. We have some clever ideas about how we can make this integration reliable and performant, but be prepared for the first import to take a while.
Binance also has a complex margin trading implementation. We are likely to launch a spot-only version first before we add margin trades into the mix.
HMRC Self Assessment registration deadline
If you need to register for Self Assessment be aware that the deadline is the 5th October. If you need to register and do so after this date, you might suffer a penalty. You can consult our tax guide and check on the HMRC website if you need to register.
We hope you find some value in this update. We’re going to try really hard to have an update every week so everyone knows we’re still here working hard on adding new features and building the best product we can.