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Crypto Tax Calculator Glossary
Crypto Tax Calculator Glossary

A in-depth guide covering commonly seen terminologies within the Crypto Tax Calculator platform as well as the Crypto Space in general.

Shoota Tanahashi avatar
Written by Shoota Tanahashi
Updated over a week ago

Anyone trying to navigate a new platform know that getting a firm grip on terminologies and abbreviations can at times be quite confusing. To help smooth out the learning curve and give you a better understanding of ours, we have curated a comprehensive list of terminologies used within Crypto Tax Calculator as well as the cryptocurrency space in general. Whether you're a first time user getting a feel for the platform, the occasional dabbler, an accountant who's trying to decipher what lingo your client is talking about to the most expert power users, this glossary has been created in the hopes that all of you can take something away from it;


Address (Wallet Address) - An 'address,' often referred to as a 'wallet address,' is a unique combination of random letters and numbers. It serves as a designated point for cryptocurrency transactions on a blockchain network. This wallet address functions much like a bank account, serving as a means for financial transactions. You can think of a Wallet Address as a traditional bank account involving your BSB & Account Number.

Airdrop - An 'airdrop' is a promotional marketing strategy that involves being given free tokens often associated with the launch of a new cryptocurrency and/or decentralized protocol. Tokens are sent to wallets usually in return for a small service such as partaking in activities set by protocols as well as social media activities. The ultimate goal of a crypto airdrop is to promote awareness and circulation of a new token. As an easy example, you can think of airdrops as being free promotional giveaways.

Allocation - Allocation covers both individual fund distribution, like assigning a percentage to a single crypto portfolio asset, as well as allocated token distribution within a crypto project which involves dividing tokens among early members, the community, the team and others.

API - API, short for Application Programming Interface, is a set of functions enabling two programs to communicate with one another. Within CTC, API's are used to retrieve read-only transaction data from your crypto exchanges and wallet addresses.

Average Cost (AVCO) - This Inventory Method calculates your capital gain/loss liability by adding up the total amount you paid to buy your token and divide it by the total amount of tokens held. More on this can be read here.


Blockchain - A distributed ledger system, most always organized in chronological order consisting of a series of blocks/units of digital information stored on a publicly accessible database.

Block Explorer (Explorer/Scanner) - A block explorer, similar to any 'search engine' (think Google but a search engine for all cryptocurrency transactions correlated to the token/chain) is a website that grants universal access to be able to browse transactional data, offering complete transparency.

Bridge (Bridging) - Bridging is a 'type' of transaction where tokens, data and messages on one blockchain can seamlessly be transferred to another blockchain. In most cases, this results in a fundamental change in the token properties (from a technical point of view). Some blockchains will give a ‘receipt-token’ which is pegged to the asset on the other chain whereas others will physically alter the token itself so it is compatible with the other chain. In both cases, the asset is generally not the exact same after the event and could technically be arbitraged. In traditional finance terms, you can think of this as stocks being moved from one brokerage platform to another.

Burn (Burning) - Burning is a process in which cryptocurrency tokens are 'burned', in other words, intentionally and permanently removed from the full circulation supply. As an easy example, say Token ABC migrates and turns into a new Token ABCD - broken down, this means Token ABC gets ‘burned’ as it’s no longer in circulation (usually sent to a 0x00000 Burn Address) and you will receive Token ABCD in proportion to what you originally held of Token ABC.

Buy - This simply refers to an acquisition being made of an asset/token by exchanging something for it - typically by trading fiat currency or another cryptocurrency token in return for ownership in a different asset/token.


Categorize - This simply means to apply a label/give meaning to a transaction. For example, if I staked some ETH into a staking pool and earned some rewards in ETH that were 'uncategorized' (haven't yet been labelled) then we would simply apply an appropriate label/meaning to this transaction. In this case, it would be 'staking reward'. A full list of our categories can be viewed here to help you through the process of categorizing.

Centralized Exchange (CEX) - Centralized refers to which authority and control are within the hands of an entity/company. In the cryptocurrency market, this typically means a centralized exchange/entity manages transactions, collects a portion of profits made from trading activity, determines transaction/market prices, among other things like the custody and management of your digital assets. Common CEX's include names such as Binance and Swyftx.

Cost Base - The cost basis is the initial value of an asset used for tax calculations, typically representing the purchase price in return of capital distributions. It is a crucial factor in calculating the capital gain, which equals the disparity between the assets cost basis and its present market value.

Custody/Custodial - In cryptocurrency, 'custody' pertains to the entity responsible for holding customer assets. When investors assets are held within a centralized exchange, that exchange has complete custody of the assets until the investor decides to move them 'off-chain' to achieve decentralization and true ownership of their assets.


Decentralized Application/s (dApps) - A dApp, short for decentralized application, operates on a specific blockchain rather than a single computer or server, and it operates without control from a central authority. It empowers users to send/receive messages, conduct transactions, and engage in the exchange of goods and services, among other functionalities. The range of dApps is diverse, spanning financial tools, productivity apps, social networks, games, entertainment, and more, with seemingly limitless possibilities. In contrast, centralized applications like Instagram, Facebook, or Twitter dictate user behaviour according to their rules and content control algorithms. Notable dApps include Uniswap, 1Inch, and OpenSea, with many of them centered around the concept of DeFi, or decentralized finance, which is covered further below.

Decentralized Exchange (DEX) - Decentralized implies that control and authority are vested in the hands of the public, without reliance on a central authority or intermediary, all working towards a shared objective. In the cryptocurrency market, this typically entails a decentralized exchange not being owned or operated by a specific third-party; instead, it operates as a peer-to-peer exchange, enabling users to trade cryptocurrencies without the need for an intermediary or central authority. Decentralized Exchanges, short for DEX, function by employing smart contracts (further explained below) to automate transactions. They also differ from traditional exchanges (CEX's) in that they do not require users to deposit their funds through a third party; instead, they facilitate trading directly from users wallets using liquidity pools (further covered below).

DeFi - Decentralized Finance, short for DeFi, encompasses the infrastructure, procedures, applications, and technologies employed to enable decentralized financial markets. The primary objective of DeFi is to eliminate all third-party intermediaries and centralized institutions to establish the goal of a more global, fair, transparent and equitable financial system. In the present financial landscape, traditional finance is centralized as it depends on central authorities or intermediaries. For instance, when sending money to a family member or friend, you typically depend on your bank to transfer the funds to the recipient's bank account. DeFi, on the other hand, eliminates the need for this central authority to facilitate such transactions. In essence, DeFi has been designed to promote alternatives to conventional and centralized financial services, often centred around banking. In traditional financial terms you can think of this as engaging in financial dealing with close peers.

Delisting (Delisted) - Delisting is the action of taking a cryptocurrency token off a CEX or DEX, typically prompted by concerns such as financial instability or the discontinuation of a project. In traditional financial terms, you can think of this as a stock being removed from the stock market disabling trading as the company’s either gone into administration and/or bankrupt.

Deposit - Simply refers to when a token or fiat currency has been deposited into an centralized exchange account or decentralized wallet. In traditional financial terms, you can think of this as depositing/being deposited fiat currency into a bank account.

Derivatives - A derivative represents a form of trading type within cryptocurrency trading. It involves a contract and/or agreement between a buyer and a seller, primarily focused on forecasting the future price of a token. Various types of derivatives exist, such as futures, options, swaps and among others. In traditional financial terms, you can think of derivatives similar to trading options contracts within the stock market.


ERC-1155 - ERC-1155 is a token standard for both fungible and non-fungible tokens operating on the Ethereum Blockchain. These tokens prioritize security, tradeability, and resilience against security breaches. This standard is versatile and supports the creation of fungible tokens, which serve as a currency with practical applications across different platforms.

ERC-20 - ERC-20 are similar in ways to 1155's however these are token standards only compatible and solely used within the Ethereum Blockchain.

ERC-721 - ERC-721 tokens, again similar to ERC-1155 and ERC-20 tokens, were the first standardized token format designed for creating and trading NFTs (Non Fungible Tokens - covered further below) on the blockchain.

Exchange - A platform that enables users to conduct cryptocurrency transactions, such as buying, selling, and trading, with either fiat currency or other cryptocurrencies. As mentioned previously, exchanges come in two primary forms: Centralized (CEX) and Decentralized (DEX). Prominent CEXs include well-known names like Binance, Swyftx, and Kucoin, while common DEXs are exemplified by Uniswap, 1Inch and PancakeSwap.

Expense - Simply put, it represents the expenditure required to obtain an item. This operation functions similarly to a 'Sell' and is recorded in the Miscellaneous Expense Report. You can utilize this category when you need to report an outgoing transaction as an expense, for instance, when a business pays out a salary.


Failed In/Out - This occurs when an on-chain transaction, executed using a wallet in a decentralized manner, does not succeed for specific reasons. You can utilize these two categories within the Crypto Tax Calculator platform when a transaction has failed, and you wish to exclude it from your tax and balance calculations (please be aware that any associated transaction fees will still be taken into account).

FIAT - A currency that is recognized as ‘legal tender’ backed by a central government, such as the Federal Reserve. It may exist as physical cash or be represented electronically, such as in the form of bank credit. This simply means your countries local tender, for example in the USA it would be USD whilst in Australia would be AUD and so forth.

Fiat Deposit/Withdrawal - This simply means when fiat currency has either been deposited into a CEX/DEX/Wallet or withdrawn from a CEX/DEX/Wallet into your traditional bank account.

First In First Out (FIFO) - This method calculates your capital gains/loss liability going off of the first time the asset is purchased to then when the same asset is sold for the very first time. More on this can be read here.

Fork (Hard Fork/Soft Fork) - A fork signifies a significant alteration to a blockchain, essentially leading it in a new direction. There are two primary categories of forks, Hard Forks and Soft Forks. A Hard Fork is when the blockchain's governing community instigates a substantial change, often through a voting process, that is so transformative that the new version becomes incompatible with the old one, resulting in a completely distinct blockchain. A great example of a Hard Fork that has occurred is when the Bitcoin (BTC) network underwent a hard fork, giving rise to a completely new chain known as Bitcoin Cash (BCH). On the other hand, a Soft Fork entails making minor and incremental changes, similar to what you might term a 'general software update.'

Futures - A type of trading method used in the cryptocurrency trading market, futures, similar to derivatives as mentioned earlier, involves contracts that enable the purchase or sale of a cryptocurrency at a predetermined price at a later date (in the future).


Gas - Gas, often referred to as a 'transaction fee,' is a term primarily used within the Ethereum Blockchain ecosystem for processing transactions and launching decentralized applications (dApps). The payment for gas is always made in the blockchain's native currency. For instance, on the Ethereum Blockchain, gas is settled in ETH, while on the Avalanche Network, it is paid in the native currency AVAX, and so on.

Gwei - Gwei, sometimes referred to as 'gigawei,' represents a unit of measurement of Ether (ETH). 1 Gwei = 0.000000001 ETH, or alternatively, 1 ETH = 1 Billion Gwei. This unit of measurement is used to provide current gas prices within the Ethereum Blockchain, aiding users in recognizing when gas prices are high or low when intending to performing on-chain activities. You can think of Gwei as seeing the price of what fuel is at your local gas station to help you choose at which station to fill up.

Gift - This simply means when you've either sent/received Crypto or an NFT (Non Fungible Token - covered further below) to/from a third party (for example - a family member/friend).


Hash (Transaction Hash/TXID) - A Hash, or in other words a 'Transaction ID' is a sequence of alphanumeric characters created by a hashing algorithm. Hashing is the fundamental core of cryptographic data as it allows the data to be condensed and encrypted into a single fixed length string of random letters and numbers. Essentially it plays a crucial part blockchain technology as it allows for the secure and effective management of data and its incorporation into the distributed ledger. In traditional financial terms, you can think of this as a ‘Transaction ID’ on your bank statement.

Highest In First Out (HIFO) - This method calculates your capital gains/loss liability by taking the highest cost of purchase to be used first. More on this can be read here.


ICO/IDO - ICO, is an acronym for Initial Coin Offering whilst IDO is Initial DEX Offering. Essentially, these two are pretty much similar with the main objective being that it serves as a form of crowdfunding/crowd-sale used by new projects that allow early investors to gain access to the projects token, theoretically a lower price compared to when it first launches on the market. It's a means of raising capital in the early stages of project development. In traditional financial terms, you can think of this as a Stock IPO.

Ignore In/Out - This means when a transaction is you categorize/label as 'Ignore In/Out', that transaction will be excluded from asset balances and tax calculations.

Incoming - This simply means the direction in which the asset is moving, For example, if I received crypto from a third party, it would show within Crypto Tax Calculator as 'Incoming'.

Interest - This means any interest you have accrued from trading and/or storing/staking/lending your cryptocurrency assets.

Inventory Method - In the context of accounting, an Inventory Method refers to a specific calculation system used to calculate your tax liability. Proper Inventory Management is essential for both individuals and entities to track the quantity and value of their assets to accurately report financial information. We have a number of different Inventory Methods from which you can select. All of this can be read more in detail here.


KYC (Know Your Customer) - KYC, short for 'Know Your Customer' is the industry standard verification process used by financial institutions and nowadays, crypto currency exchanges to verify the identity of their customers. KYC was designed and plays a crucial part to prevent financial fraud such as money laundering and terrorism financing. For the space of cryptocurrency, this process usually involves requesting the Customers Photo ID, and at times a Passport and/or Driver’s License.


Ledger - Within cryptocurrency, a ledger is referred to as a record-keeping system. It actively maintains and monitors the balances and transactions that take place, all whilst ensuring that the identities of participants are kept anonymous, thus upholding its 'decentralized' nature. Within our platform, it's simply a neat tool that allows you to clearly see your transactional data moving in and out (incoming/outgoing). In traditional financial terms, you can think of this as looking at your bank statement/transactions.

Liquidation - This refers to when you've partaken in leverage, futures, margin trading and have been 'liquidated' by the other party due to failing to maintain the needs of a leveraged position. This means the position held is automatically closed by the market markers behalf. In traditional financial terms, you can think of this as being Margin Called.

Liquidity Pool - Liquidity pools are cryptocurrency assets secured within a smart contract, enabling the trading of cryptocurrencies on decentralized exchanges. It's an open system where anyone can contribute to a liquidity pool, maintaining its decentralized and intermediary-free nature. To prevent a liquidity pool from running low on funds, most decentralized applications (dApps) typically permit anyone to participate in a liquidity pool, often referred to as 'providing liquidity.' This participation offers the incentive of earning rewards, typically in the form of a percentage share of the 'fees' generated from trading on the platform.

Liquidity Provider Tokens - Liquidity Provider Tokens, or often referred in short as 'LP Tokens,' are tokens received in exchange for supplying liquidity. They represent an individual's contribution in proportion to the total liquidity in that pool. In simpler terms, you think of it as a 'receipt number' you receive when ordering takeaway containing all the details of your order. When you then return this 'Receipt/LP Token,' you will get back the assets you initially provided, adjusted for any gains or losses from earning rewards, impermanent loss, and other factors. More on Liquidity Pools and LP Tokens can be read about here.

Loan - This refers to when you've received/borrowed Cryptocurrency/FIAT as a result of providing collateral.

Loan Repayment - This refers to when you've paid back any amounts owning from the result of loaning/borrowing Cryptocurrency/FIAT.

Long (Longing) - The term 'long,' or saying "I'm going long" is when an Investor/Trader is referring to the action of buying a cryptocurrency with the anticipation of selling it at a higher price than the initial purchase.

Long Term Capital Gains - This refers to the capital gains being calculated from assets that have been held by you for longer than your specified long term threshold. For example in Australia, if an asset has been held for more than one year would make you eligible for a long term capital gains discount of 50%. More on how this works and also be changed, can be read here.

Lost - This refers to when you have lost cryptocurrency. By marking a transaction as 'lost', it will allow you to claim the cost base paid for to obtain the asset as a deduction.


Margin Fee - This refers to the interest needed to be paid to the market maker when one has an active margin position.

Margin Trading - This refers to a type of trading where users borrow funds from Broker/CEX/DEX Providers to increase their buying power which enables them to open larger trading positions than their typical budget permits. This opens the doors to possibility for users to become 'leveraged,' typically ranging from 1x to 100x, allowing for realizing greater profits but also at times, substantially heavy losses.

Metamask - Metamask is the name of one of the most widely used Web3 Wallets accessible to anyone interested in engaging in decentralized activities. It functions like a typical browser "extension," enabling users to manage, store, conduct transactions and engage with decentralized smart contract applications (dApps).

Metaverse - So many things could be said about what the 'Metaverse' truly is. You could say that the 'metaverse' is one big vision that's being worked on by the computer industry, believing it be the next iteration of the internet. It would allow users to exist as another being in a completely different world faraway from one's reality. In simple terms, it would be like playing a First Person (FP) game but instead of controlling that character with a joystick, eventually you would become that character. The concept is supposedly set to originate from the word 'meta,' which means 'beyond the universe.'

Mined (Mining) - Cryptocurrency Mining involves a procedure in which "miners" generate and validate new blocks on a Proof of Work Blockchain, a system commonly associated with Bitcoin (BTC). This process requires miners to solve a complex cryptographic puzzle, and the miner who successfully accomplishes this task first will receive a reward in the native currency for their efforts.

Mint (Minted) - The term 'mint' or the more commonly used phrase of "I minted" signifies the process of transforming digital files into digital assets or tokens that are stored on a blockchain. These assets and tokens can represent new tokens intended for broader trading and a concept frequently associated with Non-Fungible Tokens to exist on a blockchain (NFT's - covered further below).

Missing Price - This refers to a terminology used within the platform to rectify any transaction/s that may be missing a market price. This error typically occurs when Crypto Tax Calculator isn't able to determine the market price of a specific asset from our historical pricing feeds. This warning commonly occurs when the token in question is relatively obscure, has low liquidity, has recently launched, unlisted, or acquired through ICOs/IDOs. More on how to resolve this can be read here.

Missing Purchase - This refers to a terminology used within Crypto Tax Calculator to rectify any transaction/s that you have disposed of but the platform does not 'know' you had. A simple explanation would be say Bob Buys 1 BTC on Coinbase, which he then transfers to Binance before Selling. Bob only imports his Binance data (containing the data of Selling 1 BTC). The balance would be -1 BTC since the platform doesn't know where the initial purchase of 1 BTC from Coinbase is. The solution is for Bob to import his Coinbase data so that the platform will know that an acquisition for 1 BTC has been made to ensure the disposal of 1 BTC later on won't be flagged as a 'missing purchase'. More on how to resolve these issues can be read here.

Multi Coin Wallet - More commonly referred to as a Multi-Chain Wallet, these wallets enable users to engage in on-chain operations without being confined to a single blockchain. In the past, individuals with an ETH wallet were restricted to assets and dApps solely within the ETH ecosystem. However, thanks to the creation of Multi-Chain Wallets, users can now seamlessly change blockchains and interact with multiple networks and store assets across various chains.. among the well-known names are Metamask, Trust Wallet, Safepal, Ledger, and Trezor.


Non Custodial - As covered earlier with the term 'Custodial', this essentially implies that no external entity, centralized exchange (CEX), or third party is involved, and you alone bear the responsibility for managing and safeguarding your assets. Opting for asset management 'with custody' can entail certain risks such as compromising your privacy, potential insolvency of the platform, transaction processing delays, and counter-party risk. On the other hand, transitioning your assets away from custodial platforms to a 'non-custodial' arrangement empowers you with heightened privacy, greater control over your holdings, and eliminates the risk of exposure to insolvency issues.

Non Fungible Token (NFT) - More commonly known as NFT's, these are a category of digital assets that are entirely distinct, irreplaceable, and lack the characteristic of fungibility, which is why they are termed 'Non-Fungible.' In contrast, items like physical fiat currency or cryptocurrencies are considered "Fungible," signifying they can be interchanged or swapped with one another. NFTs are predominantly prevalent in the fields of art and gaming, offering artists and creators an alternative avenue for trading their own creations.


Online/Offline Storage - This refers to the approach used to store your assets, which can be either 'online,' where they are kept on a device/system connected to the internet, or 'offline,' where they are stored on a device that doesn't require a continuous internet connection. In general, opting for 'offline' storage is considered the most secure choice because it minimizes the risk of exposure to malicious activities, providing you with full control over your assets and reducing the chances of attackers gaining access to your storage device. The industry leader in 'offline' storage devices are both 'Ledger' and 'Trezor'.

Oracle - Oracles are external entities or services from the physical world that can be integrated with blockchains, facilitating the seamless transmission of verified and trustworthy real-world information for use in decentralized blockchain applications.

Outgoing - As covered earlier with 'Incoming', this simply means the direction in which the asset is moving. For example, if I sent crypto from a CEX into offline storage, then it would show within Crypto Tax Calculator as 'Outgoing'.

Over The Counter (OTC) - 'Over The Counter' (OTC) is similar to the 'Peer-To-Peer (P2P) trading approach, where transactions are conducted privately outside of an exchange in a decentralized manner where the involvement of an intermediary is not needed. The only difference is that OTC is used by traders who want to trade large amounts and such trading is only accessible by certain private individuals/investors rather than being fully open to the broad public.


Peer to Peer (P2P) - More commonly referred to as 'P2P' represents the most basic form of trading conducted directly between a buyer and a seller without the need for a centralized entity, essentially all of this taking place on a decentralized platform. P2P is based off of the original concept of 'P2P' networking - for example, sharing a digital file between each other. In traditional terms, you can think of this as selling a car privately rather than going to a dealership for a dealer to do it for you.

Peg - The term 'peg', refers to the price a token aims to maintain. Establishing a peg enables foreign fiat currencies to be represented as cryptocurrency tokens, essentially creating a 'stablecoin' (covered further below) which can be traded. Commonly known stablecoins include USDC, USDT, DAI, BUSD, and FRAX, all of which are pegged to the value of $1 USD.

Personal Use - This refers to a categorization tag available in the Crypto Tax Calculator platform, allowing you to designate an outgoing transaction as non-taxable personal use (it is advisable to consult with your accountant to ensure that your transaction meets the relevant criteria prior to using this).

Proof of Work (PoW) - Known for short as 'PoW' is a type of consensus mechanism (covered earlier) that requires demanding levels of computational power to validate the authenticity of transactions, as well as create new blocks. This directly correlates to 'mining' (covered earlier). The Proof of Work (PoW) algorithm was created to progressively raise the complexity of these cryptographic puzzles that miners need to solve to validate transactions. As the level of difficulty increases, miners are required to invest more computational power and energy in order to solve these puzzles, deterring it from being manipulated in anyway. This means the pro's of a POW mechanism is that it has a high level of security, however the con's are that it can take very long to process transactions as well as due to the high energy consumption from the computation power, it's said to be heavily impacting in a negative way towards the global environment.

Proof of Stake (PoS) - On the other hand, known for short as 'PoS', represents another form of consensus mechanism, often regarded as a more modern and enhanced approach. In a 'PoS' system, the blockchain's governance is entrusted to a community of users who possess and 'stake' (covered further below) the native currency. By having every user stake the native asset, it enables the computational workload of a single miner to be evenly distributed among a multitude of users, significantly reducing the overall computational energy expenditure. Meanwhile, each individual who has staked their assets earns 'staking rewards' in the form of the chains native currency to encourage continuity with governing the chain.


Realized Profit/Loss - This refers to any profits/losses you've incurred from trading types such as Margin, Futures and Derivatives. These profit/loss figures will then be found inside your Derivatives Trading Report.

Rebase - A rebase token, in other words 'elastic token' are designed in a complex way that the circulating token supply both increase and decrease automatically dependant on the tokens price fluctuations. This fluctuation mechanism is what's called 'Rebasing'.

Receive - This refers to when you've 'received' an asset you own from a source you also own as well. The categories of both 'send' (covered further below) and 'receive' should only be used when assets you own are being moved between exchanges and/or wallets that you own.

ROI - Short for 'Return of Investment' is a frequently employed term and metric used in investing that signifies your investment's performance. A positive ROI would indicate that your investments are yielding profits, whilst a negative ROI implies that you're sitting at losses.

Royalties - This refers to when you've received Royalty Payments usually common within the Non Fungible Token (NFT) space. For example - when an NFT artist receives a royalty payment for their creation, such transaction is recorded as part of your earned income.

Rug Pull - A Rug Pull remains as an unfortunately still occurring type of cryptocurrency scam. This term refers to a situation where a new project abruptly abandons its entire project running away with the investors funds. When a new project is introduced, it is typically heavily promoted on social media platforms in an attempt to attract many inexperienced investors to test their new dApp, only for the team to desert the project and run with the funds. Rug Pulls are frequently encountered within the DeFi space due to the relative ease of creating malicious tokens, dApps and the inability for anyone to truly track them.


Sell - This simply refers to when a disposal is being made of an asset in exchange to start ownership in a new asset - typically by trading fiat currency or another cryptocurrency token in return for ownership in a different asset/token.

Send - This refers to when you've 'sent' an asset from a source into another source that you both own. The categories of both 'send' and 'receive' (covered earlier) should only be used when assets you own are being moved between exchanges and/or wallets that you own.

Short (Shorting) - The term 'short,' or saying "I'm going short" is when an Investor/Trader is referring to the action of opening a IOU starting price position of a cryptocurrency with the anticipation of buying this back at a lower price than the initial starting price so they can pocket the difference. It essentially means you're betting against.

Short Term Capital Gains - This refers to capital gains being calculated from assets that have been held by you for a short period of time. Depending on the country you are in, the period of 'short' will differ. For example in Australia, if you dispose an asset within 12 months then it would be considered short term and liable for the full amount of taxes from a disposal. More on this can be read here.

Spam - This refers to when you receive spam tokens into your wallet and want to label them as such. By categorizing as spam, these incoming transactions will be ignored from your tax calculations and balances.

Smart Contract - In simple terms, a smart contract is an autonomous piece of code capable of automatically executing transactions once predefined conditions are satisfied. Smart contracts are primarily designed to perform tasks without the need for intermediaries and are predominantly utilized within the realm of Decentralized Finance (DeFi).

Stablecoin - As previously explained with the concept of 'peg,' stablecoins are cryptocurrency tokens that are pegged to the value of real-world currencies, allowing them to be traded on blockchain networks. For instance, USDC/USDT are pegged to the value of $1 USD, whilst TAUD is pegged to $1 AUD, and so on.

Staking - As covered earlier with 'Proof of Stake', the process of 'staking' involves the act of depositing your tokens in a PoS System to be utilized as a means of validating transactions within the blockchain, allowing you to partake in governance and earn rewards.

Staking Deposit/Withdrawal - This simply refers to when you have deposited an asset into a PoS System and when those assets get withdrawn from the PoS System.

Staking Pool - This refers to when a collective group of investors who join together to establish a joined community, also known as a staking pool. In essence, since Proof of Stake (PoS) is based on the principle that the more you deposit, the more rewards you can earn. So by participating in a staking pool can potentially enable you to achieve greater rewards for the same amount of tokens you intend to deposit, as the overall pool size collectively represents a larger staking deposit. In traditional financial terms, you can think of this as investing into an ETF fund to reap the benefits of many companies coming together to give you a more guaranteed and stable profit rather than just focusing on investing into one single company.

Staking Reward - This refers to when you receive an incoming reward from the result of staking your assets.

Stolen - This refers to when you have had cryptocurrency stolen including 'rug pulled' (covered earlier). By marking a transaction as 'stolen', it will allow you to claim the cost base paid for to obtain the asset as a deduction.


Ticker - A ticker is a symbol/shortened acronyms given for a cryptocurrency token or stock from the stock market. For example, Bitcoin is shortened as BTC whilst Apple Stock is APPL.

Total Capital Losses - Total Capital Losses are calculated on transactions that have made a loss instead of a gain. This figure can then be used to offset the total capital gains incurred to work out your net capital gain/loss a specified period. More on this can be read here.

Transaction (TX) - A transaction is essentially any operation that is conducted either on-chain within a decentralized system or off-chain within a centralized system.


Unrealized Gains/Loss - This describes the potential gains and losses you currently are sitting at with the assets in your possession. These gains and losses are considered 'unrealized' until you decide to dispose, at which point they become 'realized,' locking in the actual gain or loss.


Wallet - This refers to a place where users can store, send/receive their digital assets, funds and tokens. Wallets can be both online, offline, custodial or non custodial.

Warnings - Potential issues that the app has recognised and flagged. These can be viewed under the Review tab.

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