CounterTools.io is in early alpha development. Expect many things to be broken much of the time as we build initial functionality. Bug reports to @SamadhiSpeaks
Counterparty Platform Suite
Loading...
Understanding how CounterTools calculates asset values for portfolio tracking and tax reporting.
When you buy or sell a Rare Pepe, Spells of Genesis card, or any Counterparty asset, the transaction happens on Bitcoin's blockchain using Bitcoin (BTC), Ethereum (ETH), or specialized currencies like XCP and PEPECASH.
But for tax reporting, portfolio tracking, and record keeping, you need to know: "What was that asset worth in my local currency?"
CounterTools uses different levels of precision based on the transaction's tax significance:
For small DEX trades and low-value dispenser sales. Uses daily OHLCV data from CoinMarketCap and other authoritative sources.
Accuracy: +/-5-10% on volatile days, acceptable for small amounts and meets tax authority standards.
For transactions exceeding your country's tax threshold. Automatically uses hourly BTC/ETH prices from trusted APIs.
Accuracy: +/-1-2%. The hourly rate is permanently stored and linked to your transaction.
For transactions over $100,000 USD or disputed valuations requiring audit defense. Block-level precision using Bitcoin block timestamps.
Accuracy: +/-0.1-0.5%. Bulletproof audit trail for tax authorities.
Different countries have different rules. CounterTools needs to know your country to: