Cryptocurrencies

PeterOPeterO Member Posts: 2

Hey all! I'm a new user here, but I've actually come and gone on Wave Accounting for over a year. The last time I was here I saw this discussion on cryptocurrencies and just came back to see what had happened in the meantime.

We didn't choose Wave last two times around because of the no crypto issue, and I am a bit surprised that there still isn't the ability to at least create custom currencies. Other than that, what you have would be perfect for my company (And the one before this one, and the one before that one...). I suppose that I can just select BTN or some other random currency that I won't use, and just remember, for example, that this is Bitcoin, but it should be trivial for you to add the additional currency types. Less trivial would be if you could (Please!) allow those currency types to have up to 0.1234567890 decimals of precision. If 10 is impossible, then as many as you can.

Comments

  • Ryan_WRyan_W Administrator Posts: 462 admin

    @PeterO at this point, it's still not on the roadmap although I appreciate you dropping back in to check!

  • PeterOPeterO Member Posts: 2

    OK -- Thanks for the update. Can I ask why? Adding the currency types alone would be great, and that's got to just be some entries in a database record for you...

  • AlexLAlexL Administrator Posts: 2,427 admin

    Hi @PeterO . I wouldn't say that there's any particular reason. When planning out which features to build next, a significant factor in this decision making process is feedback from our business owners. The more we hear about something and how it would help your business, the more likely it is to be implemented. At this point, I would say that the team has most likely prioritized certain features, but this also doesn't mean that we're not constantly reviewing what should come next. The more we hear something is desired, the more likely it is to happen.

  • douglaswebdesignsdouglaswebdesigns Member Posts: 5

    I would like to chime in. As of March 2020, crypto seems to be the next phase of the Global banking system. I sure hope Wave is working on something by now. XRP is poised to be the biggest thing since Amazon so keep us posted, regularly. Being able to accept payments directly to digital wallet would save us a lot of resources.

  • cryptodudecryptodude Member Posts: 1

    wave apps would be an 800lb gorilla if they supported tax accounting for crypto hodlers. I'd even be willing to pay. Right now the crypto tax accounting solutions are really expensive. We need more players, plus based on waveapps past success, I would fall in love with this product all over again if we could do this. For example, a competing product for zen ledger.

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