Bookkeeping for digital dollars: what your accountant will ask for
How USDC and USDT deposits, conversions, trades and cash-outs appear on a Storspay statement, how to match them to invoices, and the one line of tax guidance we are willing to give.
Read this guide in Français
The short answer. Every movement has a statement line: deposits with asset, network and invoice reference; conversions and trades with the rate and the fee; cash-outs with the local amount. Export CSV and statements monthly, keep invoices with receipts, and ask a local accountant how digital-dollar income is taxed where you live.
What the statement shows
Deposits: asset, network, amount, transaction reference, the invoice you matched. Conversions: from, to, rate, fee. P2P trades: counterparty business name, price, amount, fee. Cash-outs: balance used, rate, fee, local amount, destination. Sends: address label, network fee, transaction reference.
Matching to invoices
Give every client an invoice number and ask them to send it with the payment or tell you the transaction reference. Match the deposit in Activity to the invoice when it lands; the statement then carries both. For P2P trades, the receipt names the counterparty business.
Exports
Payroll History exports CSV and a statement PDF for any period, including the digital-dollar balances. Most accountants want the monthly statement plus the invoices; auditors may also ask for the screening result on a deposit, which is stored with it.
Tax
Keep your invoices and statements for your records and ask a local accountant how income received or held in digital dollars is taxed where you live. Storspay does not give tax advice and will not pretend to.
How it works, in four steps
- Apply once. A verified business on a paid Storspay plan applies from the Exchange tab: a few questions about what it will trade and why, a one-time identity check for a director, the wallets it plans to use. Reply within one business day.
- Receive or convert. A client sends USDT or USDC to the address in your business name, or you convert dollars or euros from your balance at 0.75% all-in.
- Trade or hold. Keep the balance, convert between USDC and USDT at 0.25%, or trade with other verified businesses on the P2P market — taker 0.5%, makers free, settled the instant the buyer confirms.
- Cash out or send. Pay your local bank or mobile money the same business day at 2% all-in, or send to any wallet address for the network fee only.
What it costs
| Step | Fee |
|---|---|
| Receive USDC or USDT | Free |
| P2P market — taker | 0.5% (makers free) |
| Convert US dollars or euros ⇄ USDC or USDT | 0.75% all-in |
| Convert USDC ⇄ USDT | 0.25% |
| Send to a wallet address | Network fee only |
| Cash out to a local bank or mobile money | 2% all-in (1% · min US$2 to India, Indonesia, the Philippines and Thailand) |
Who this is for — and who it is not for
Businesses, and a sole trader counts: every movement is a business transaction with an invoice, a contract or work delivered. Traders are welcome as businesses and should expect what the page says plainly — verified counterparties, instant settlement and a cash-out to their own business account, not the tightest spread on the internet. Personal accounts, gifts and family transfers are not what this is.
Keep your invoices and statements for your records and ask a local accountant how income in digital dollars is taxed where you live.
Read next
- Storspay Exchange — hold, convert and trade digital dollars
- Digital dollars for African businesses
- Storspay Exchange vs P2P exchange apps
- Can a freelancer hold USD, EUR, GBP or CAD?
Storspay Exchange is in early access — apply from the Exchange page. Fees and availability are as published there on the day you read this.
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