CryptFolio currently supports the following transaction types:
- Purchase: The initial purchase of a currency, which can be through exchange or mining, and is considered an inventory purchase.
- Mining: The initial acquisition of currency through mining, and is considered an inventory purchase.
- Airdrop: Currency obtained through airdrops or currency forks, such as Bitcoin Cash and Bitcoin Gold, and is considered an inventory purchase.
- Sale: The sale of a cryptocurrency, which can be through exchange of a cryptocurrency (for another cryptocurrency or fiat currency) or purchasing a good or service, and is considered an inventory sale. This is considered a taxable event.
- Transfer: Transferring currency between accounts, wallets, or addresses. This is not considered a taxable event.
- None: for anything that hasn’t been categorised. These transactions will be not be included in your inventory reports.
By default, the daily rate for the currency is used to value the transaction for your inventory and FIFO reports, but you can also set the valuation manually – for example, to capture the actual costs incurred in mining, obtaining the airdrop, or as otherwise required by your accounting method.
If you’ve added your accounts to your portfolio through API integrations or supported CSV uploads, then most of your transactions should be automatically categorised into one of these existing types.
You can change the transaction type of any of your transactions by editing the transaction.