USA Crypto Transactions

Aug 25, 2021
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United States
Looking for some direction on how a journal transaction should look for running a staking pool.

We earn (coin) for our delegation that stakes with us. We earn this in the (Coin) that we run the pool for.

There are two things we do with the coin when we receive them.

1. We keep them in the coin and add them to our pledge wallet.
2. We take them right to USD and put it in the bank

Here is how I am journaling them now.

1. Credit Services
Debit Pledge coin

We do this at the value the coin was when we received them

2. Credit Services
Debit Business Checking

Does this look right? Should it be a service?


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