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What should I set as my Currency?
What should I set as my Currency?
Carl Gärdsell avatar
Written by Carl Gärdsell
Updated over a week ago

Set this to your local currency you will be reporting your taxes in. This is also known as your country's fiat currency. Your local tax authority dictates what fiat currency should be used to calculate your taxes with.

How the currency affects your tax calculations

Divly uses the currency setting to calculate market prices, cost basis, and your taxable gains or losses. The currency can only be set to a fiat currency (not a cryptocurrency) and is the currency in which you pay your taxes.

This does not mean you can't trade crypto with another fiat currency. You can buy and sell crypto with whatever currency you prefer. Divly will ensure that both fiat currencies and cryptocurrencies are converted to your set fiat currency when calculating your taxes.

Divly supports all major fiat currencies. For more information on how Divly handles market prices, please see our FAQ.

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