Accounting For Crypto Assets

Dec 20 2023 23 ep. 4 mins 5
Accounting For Crypto Assets Podcast artwork

The AccountANTs, Tax Professionals, and Astute Investors Guide To Blockchain, DeFi, NFTs & more. Visit: www.CryptoCFOs.com to join our community and learn more! *This podcast is NOT financial, tax, accounting, or legal advice. The opinions and commentary herein are intended to facilitate discussions only, and may not be relied upon for accuracy; you must conduct your own research or engage with and seek the advice of your accounting/ tax professional and attorney as necessary.

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Fundamentals: Introduction to Accounting for Crypto Assets

Dec 22 2022 6 mins  
Welcome to Fundamentals of Accounting for Crypto Assets. Presented by Taylor Zork, CPA, MBA of CryptoCFOs.com

Fundamentals: Currency or Property?

Dec 22 2022 4 mins  
Welcome to Fundamentals: Currency or Property? Presented by Taylor Zork, CPA, MBA of CryptoCFOs.com

Fundamentals: Wallets

Dec 22 2022 4 mins  
In the world of cryptocurrencies, wallets act as “bank accounts.” Cryptocurrency wallets consist of a private key and a public key. The private key secures access to your wallet, while the public key is the address that allows people and companies to send funds to your wallet.

Fundamentals: Securing Crypto Assets

Dec 22 2022 3 mins  
Now that we have a better grasp of how wallets function for crypto assets, we need to understand the inextricable link between decentralization, self-custody, and security.

Fundamentals: Consensus Mechanisms

Dec 22 2022 3 mins  

Fundamentals: Exchange & Hot Wallets

Dec 22 2022 5 mins  
Exchange wallets are funds held on centralized exchanges (CEXs). If a taxpayer purchases crypto assets on a CEX like Coinbase or Kraken, then the assets are in the exchange’s wallet.

Fundamentals: Cold Storage Wallets

Dec 22 2022 6 mins  
A cold storage wallet is used for storing crypto assets where the private keys and access to the wallet are offline thereby protecting the funds from unauthorized access, hacks, and other vulnerabilities.

Fundamentals: Multisig Wallets

Dec 22 2022 5 mins  
Multisig wallets require multiple signatures (multiple wallets approving the transaction) to sign or confirm transactions and can be secured with either a hot or cold storage wallet.

Fundamentals: Enterprise Custody Solutions

Dec 22 2022 3 mins  
While seemingly counterintuitive to the ethos of blockchain and cryptocurrencies, enterprise custody solutions can serve a purpose for high-net-worth (HNW) individuals who prefer a third party to hold and maintain custody of their crypto assets.

Fundamentals: Coins vs. Tokens

Dec 22 2022 5 mins  
Coins are cryptocurrencies with their own native blockchain networks (Ether/ETH, Bitcoin/BTC, and Litecoin/LTC). Tokens are cryptocurrencies that are created on top of existing blockchains.