XRP and XAH Taxes
The booming world of cryptocurrencies has led to an explosion of interest in not only investing but also understanding the various tax implications associated with digital assets.
Why Are XRP and XAH Taxable?
In many jurisdictions, cryptocurrencies—XRP and XAH included—are treated as capital assets. Every transaction—buying, selling, sending, or receiving—can have tax implications. Accurate recording is crucial for tax reporting.
How XRPL and Xahau Explorers Assist Taxpayers
Existing Problems
Many users need transaction exports for tax reporting, but existing tools fall short in several critical areas:
- Limited Token Support: Most solutions ignore IOUs (DEX tokens), leaving gaps in reporting.
- Inaccurate Calculations: Transfer fees are often overlooked.
- Lack of XRPL and XAHAU Compatibility: Many platforms don’t support these ledgers.
Our Solution
Get the most comprehensive XRPL and XAHAU transaction exports for your tax reports:
We Offer
- Monitor up to 5 Wallets: Track the full history of balance changes.
- Extensive Calculations: Includes payments, NFT sales, AMM transactions, and network fees.
- Accurate Token Value Calculations: Historical prices in 40 fiat currencies based on order book depth.
Watch These Videos to Learn How to Start Using These Tools:
How XRPL and Xahau Explorers Assist Crypto Tax Platforms
You Get
- Expand the range of your available services to meet community demand.
- Build stronger, more lasting relationships with clients by addressing specific tax reporting needs.
Your Benefits of Working with Us:
- XRPL Support: One of the oldest blockchains, XRPL has been active since 2012 with a large user base. We ensure up-to-date XRPL support by adding new transaction types and integrating amendments even before they go live.
- Xahau Support: XAHAU, launched in 2023, is an XRPL-based network with smart contracts (hooks).
- All Types of Transactions Support: You will have support for all Token type of transactions on DEX, including the new AMM transaction types.
- No Need for XRPL Integration: You don’t need to integrate XRPL, which is very different from EVM or PoW chains. You don’t need to run your own XRPL node.
We would love to explore partnership opportunities and learn about your interest in expanding your services. Contact us at moc.pmohtib@rentrap.