CryptoTrader.Tax Terms

  • Trade: Any buy, sell, or coin-to-coin trade made from one currency to another.

  • Incoming Transaction: An instance where you received a coin without giving away a form of currency. (Examples - Mining payouts, Gifts, Crypto Income, etc)

  • Outgoing Transaction: An instance where you gave away a coin without receiving any form of currency. (Examples - Payment for Services, Gifts, etc)

  • Missing Cost Basis warning: A trade flagged by CTT, because the app is not able to find where the coin you're selling was acquired. (If you run a report with Negative Balance Warnings, reconciliation events with a zero cost-basis will be automatically generated. These are view-able on the Reconciliation tab of your report.)

  • Report: A representation of the crypto related capital gains calculations made for a given year. (A report also houses different pages, or 'sub-reports', such as Short-Term Gains, Audit-Trail, etc)

Price Quoting

  • Quote: In a given trading pair, the "QUOTE" currency is the currency which is the "reference" of the pair.

  • Base: ┬áIn a given trading pair, the "BASE" currency is the currency which is being quoted in relation to the "reference" currency.

    Example: If the "BASE-QUOTE" pair BTC-USD show a price of 1000. This means that $1000 can be exchanged for 1-BTC (in other words 1000 USD/BTC).

NOTE: Although the "BASE-QUOTE" pattern is the standard following the ISO 4217 guidelines, not all cryptocurrency exchanges follow this pattern.

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