FAQ

How Does DeFi Work On Crypto One?

DeFi activity is tracked across wallets from multiple chains that are connected directly into your Crypto One account. If you want to track your DeFi activity, connect your wallet and enable DeFi through the portfolio settings, you can follow our guide here for setting up DeFi.

How Labeling And Custom Table Columns Work

On the Crypto One Transactions page, you can add labels and descriptions to transaction line items. The labels can be used in the transaction filter and you can set up the columns to show the label column as an option. 

Filtering Transactions And Calculations

Running a calculation refers to running a cost basis calculation through one of the accounting methods available in the calculation button menu. Your cost basis calculation that you choose to run, is entirely based on the filter settings. If you set up specific dates on the transactions filter, the calculation will only run for the dates that you filtered for. There are many transaction filter options thus giving you many ways of running a calculation.

Organization Users

Organization users refer to the user seats/accounts you have within your organization on the Crypto One platform. Each business subscription has it's own user seat allowance. You can add new organization users within the organization settings. See our organization user guide and information here. 

Missing Market Data

Missing market data occurs when the market aggregator indexes that are toggled within your portfolio settings are not finding the market values for the crypto asset at a specific timestamp. By default, Crypto One uses CryptoCompare and CoinGecko. You can alter the fair market value settings in your portfolio settings to customize how you want the market values to be pulled.

Bills And Invoices

Crypto One enables you to issue crypto invoices and bills directly through the platform. You can select the fiat currency to read the crypto values in on the invoice/bill, select the cryptocurrency payment, and input the recipient/sender information. These invoices and bills are non-custodial, meaning you cannot issue the payment itself from Crypto One directly. You would need to issue the payment through a treasury solution or wallet directly. When Crypto One sees and invoice payment transaction, the status of the invoice changes to paid automatically. 

Liquid Staking Versus Non-Liquid Staking

Through Crypto One, liquid staking and non-liquid transactions can both be tracked for bookkeeping and portfolio management purposes. When you are participating in liquid staking, your deposit into the staking pool will appear as a send event in the Crypto One ledger and you will have a receive event to reflect the reception of the LP tokens. If you are receiving an increasing amount of LP tokens overtime as you participate in the staking pool, the LP tokens could be categorized as income. If the LP token amount does not change, once you exchange your LP tokens for your staked assets, a positive increase in the withdrawn assets once unstaked would be the staking income. 

When participating in non-liquid staking, the ledger will show your send event to the staking pool but no receive event to reflect the ownership of the staked assets. If doing a balance statement or audit in this scenario, it is important to temporarily add a manual receive event to reflect the balance of assets that are being staked. Then when unstaking, the manually added receive events that reflected the staked inventory of assets can be deleted. 

If an accrual is being earned from a staking pool, once the assets are unstaked, the principal of the original deposit into the pool and the positive difference in tokens at withdrawal should go through a transaction split within the Crypto One ledger. The principal classified as the staking principal (typically non-taxable) and the positive difference in tokens classified as staking income (typically taxable) for example. Please review local tax compliance rules for knowing the appropriate tax treatment of staking-rela transactions.