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
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.