Crypto Staking Acounting Made Easy
Whether you are staking or operating a node, Cryptoworth simplifies
your staking accounting, tracking and reconciliation process.
We help by reducing complexity end-to-end
A single point of access for the world of crypto, reporting and accounting. We simplify accounting for staking and node validators.
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Tracking Rewards & Derivatives
Cryptoworth helps you to track your rewards in near real-time along with other vital data such as liquid staking derivatives. From staking rewards to proxy transactions, we help you track all blockchain transaction events no matter how challenging the operation is.
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Staking Transaction Reconciliation
Our crypto tailored accounting engine helps you to track staking rewards across all your nodes in a Proof-of-stake blockchain. We enable blazing fast month ends for our staking customers via our staking automation tools.
Deep Chain Support
Track all your favourite Proof-of-Stake chains in Cryptoworth. Unlock staking accounting capabilities for demanding chains like Ethereum, Polkadot, Solana, Binance Smart Chain, Polygon and many more.
Proof-of-Stake Network Support
We support a number of staking nodes. Track all your transactions across your nodes and generate financial reports effortlessly.
Customer Stories
Accounting teams, funds, Layer 1s, L2s, and digital asset businesses trust Cryptoworth to deliver reliable, audit-ready reporting. No matter how complex their operations. Here’s what leaders say:
"As a frequent user of Cryptoworth, I can confidently say it's a game-changer in the world of cryptocurrency accounting. Handling high transaction volumes is a breeze, and the reports it generates are exactly what I need. The Cryptoworth team is incredibly responsive and always quick to address any issues, showcasing their dedication to user satisfaction.
Nauman Mustafa
CEO at Celo
"On the crypto accounting subledger tooling side, we had certain blockchain native complexities to work through on the accounting side. Internally, we’ve been happily working alongside Cryptoworth who have provided a very flexible product to fit our needs and help solve these complexities for us."
Zac Hogg
Controller at Solana Foundation
"Cryptoworth's UI is very user friendly and the implementation /integration of Stacks Blockchain within a week tells everything about the techinical capabilities of the team. The Customer Support provided by Geeth and Richard has been exemplary and one of the biggest reasons why we're a big supporter of Cryptoworth and promoting it across our Ecosystem!"
Shakti Pradhan
CFO at Stacks
"We use Cryptoworth as our crypto subledger with millions of dollars in crypto over 50,000 historical transactions . We are project that transacts in our native token as well as many other chains. The team at Cryptoworth not only integrated and supported us while other subledger companies wouldn't, but they also are very attentive to feedback and product improvements. There is so much nuance in this industry and we can count on them to help navigate it and incorporate any new practices."
Scott Hewitson
VP Finance at Overclock Labs
It gives our team the ability to segregate wallets into separate portfolios. Its clean UI supports many different tokens. The quick response and support from the Cryptoworth team ensure any issues are dealt as efficiently as possible. Platform integration allows for the syncing of transactions from Cryptoworth directly into most ERPs (Netsuite, Xero, etc.). The rules-based tagging for classifying transactions helps with repetitive transfers and eliminates manual tagging."
Joe Murley
Controller at Avara
"As a frequent user of Cryptoworth, I can confidently say it's a game-changer in the world of cryptocurrency accounting. Handling high transaction volumes is a breeze, and the reports it generates are exactly what I need. The Cryptoworth team is incredibly responsive and always quick to address any issues, showcasing their dedication to user satisfaction.
Nauman Mustafa
CEO at Celo
"On the crypto accounting subledger tooling side, we had certain blockchain native complexities to work through on the accounting side. Internally, we’ve been happily working alongside Cryptoworth who have provided a very flexible product to fit our needs and help solve these complexities for us."
Zac Hogg
Controller at Solana Foundation
"Cryptoworth's UI is very user friendly and the implementation /integration of Stacks Blockchain within a week tells everything about the techinical capabilities of the team. The Customer Support provided by Geeth and Richard has been exemplary and one of the biggest reasons why we're a big supporter of Cryptoworth and promoting it across our Ecosystem!"
Shakti Pradhan
CFO at Stacks
"We use Cryptoworth as our crypto subledger with millions of dollars in crypto over 50,000 historical transactions . We are project that transacts in our native token as well as many other chains. The team at Cryptoworth not only integrated and supported us while other subledger companies wouldn't, but they also are very attentive to feedback and product improvements. There is so much nuance in this industry and we can count on them to help navigate it and incorporate any new practices."
Scott Hewitson
VP Finance at Overclock Labs
It gives our team the ability to segregate wallets into separate portfolios. Its clean UI supports many different tokens. The quick response and support from the Cryptoworth team ensure any issues are dealt as efficiently as possible. Platform integration allows for the syncing of transactions from Cryptoworth directly into most ERPs (Netsuite, Xero, etc.). The rules-based tagging for classifying transactions helps with repetitive transfers and eliminates manual tagging."
Joe Murley
Controller at Avara
FAQs
Discover quick and comprehensive answers to common questions about our platform, services, and features.
What is Proof-of-Stake?
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Proof-of-Stake (PoS) is a consensus mechanism used by certain blockchain networks to achieve distributed consensus. PoS validates transactions and creates new blocks through a process where validators are chosen to create new blocks based on the number of coins they hold and are willing to "stake" or lock up as collateral.
From an accounting standpoint, there is ongoing debate about how cryptocurrencies that are staked could be classified, with many considering them as intangible assets. Accountants need to apply consistent and fair valuation methods, possibly considering the fair value at each reporting date.
What are Staking Rewards?
Staking rewards are incentives received by validators for participating in the PoS consensus mechanism. These rewards are typically paid in the form of additional cryptocurrency units.
Staking rewards can be considered income at the time they are received. The accounting treatment would require recognizing this income in the financial statements, potentially as other income or operating income, depending on the entity's business model. The receipt of staking rewards has tax implications, generally being treated as income at the fair market value of the cryptocurrency at the time of receipt.
The specific tax treatment can vary by jurisdiction. The initial measurement of staking rewards would be at fair value at the time of receipt. Subsequent measurement would depend on the accounting policy for digital assets.
Take Control of Your Crypto Finances Today!
Start managing digital asset records with Cryptoworth’s Sandbox subscription. Explore reconciliation, data completeness, and sanity checks with your data—no long-term commitment required.
- Up to 5 wallet and exchange connections
- 2,000 transaction lines.
- Sanity Checks.
- Access to invoicing, reconciliation, and billing modules
- Group onboarding and video tutorials.