Hi there 👋
It is common to participate in an ICO (Initial Coin Offering), IDO, FTO, IEO.... This operation is not a taxable event under the tax regime for individuals with an activity qualified as occasional (neutralization of crypto<>crypto exchanges). However, if it is not correctly registered in Waltio, it can strongly disturb your calculation of the taxable amount.
👉 Let's take the example of a Flow ICO participation of 150 USDC sent from your Coinlist account on October 1, 2020, to get 1,500 FLOW tokens.
Step 1: Identify the withdrawal transaction and label it
On Waltio, in the page 2. My Transactions, using the filters (transaction type = withdrawal and amount), you can get the ICO participation transaction 👇
You will then need to label the withdrawal as an “Other Withdrawal”.
Step 2: Identify deposits related to ICO participation
Step 2 BIS: If you have a price warning on the ICO token on a date prior to the listing, you will need to fill in the price at which you purchased the token at the ICO.
Deposits will arrive as you receive them and transmit them to us via API or files 😀
And that's it, your participation in the ICO is correctly registered.
And that's it 🎉
If you have any other questions, do not hesitate to contact us via the chat just at the bottom right of your screen! 💬
The Waltio team