Our Technology

At Bittax, our patent-pending technology is at the forefront of our solution for crypto tax and anti-money laundering (AML) reporting. Our unique technology uses specific identification methodology to track and trace every coin’s life cycle, from its entry point to the cash-out point. This tracking technology allows us to define the audit trail of every coin, as well as any value fluctuations, ensuring complete transparency and accuracy. This technology additionally enables cost basis identification for each and every coin in the user’s wallet or transaction history, which significantly optimizes tax reports, eliminating any potential errors or discrepancies.

We have the ability to determine which coins, UTXOs, or funds remained in the wallet at all times, guaranteeing the authenticity of the true coins and amounts.

At Bittax, we pride ourselves on delivering a comprehensive and reliable solution for our clients, making the complex process of crypto tax reporting and AML compliance a seamless experience

Crypto Tax Reporting

Bittax possesses a node and builds a tracking software by implementing advanced algorithms, which can easily identify the participating coins in every transaction and their original costs. This ability is used for tax optimization as it is introduced for the first time:
A 100% accurate Specific identification method for the cryptocurrency industry alternative to the standard yet inefficient FIFO method that currently dominates the market.

SoldCost Basis – Bittax Specific Identification

Anti-Money-Laundering (AML)

Bittax employs a patent-pending coin-tracking technology that can trace the path of each coin from the moment it entered a user’s wallet to the last point when the user held it. This technology accurately determines the amount of funds that are “clean” or require clarification.
Bittax tracks the route of these original funds and their activities on the blockchain to guarantee that they are genuine. This ensures that customers receive a report that verifies the route of the original funds and proves their value fluctuation.