Bitwave Now Supports NEAR

Bitwave Now Supports NEAR
Julian Alvarado

Bitwave is proud to announce full support of the NEAR Protocol, a highly-scalable proof-of-stake (PoS) blockchain.

As the first digital asset accounting and tax platform to support the protocol, Bitwave empowers organizations to track the cost basis for every transaction with NEAR, the protocol’s native token. 

As the industry continues to embrace environmentally-friendly PoS protocols like NEAR, it will need a solution like Bitwave to mitigate the complexities of PoS accounting. 

For example, NEAR validators are rewarded NEAR tokens every epoch (~12 hours) at a rate of 4.5% of their holdings. Without Bitwave, NEAR holders would have to manually track and monitor the cost-basis of 730 transactions per year. 

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Disclaimer: The information provided in this blog post is for general informational purposes only and should not be construed as tax, accounting, or financial advice. The content is not intended to address the specific needs of any individual or organization, and readers are encouraged to consult with a qualified tax, accounting, or financial professional before making any decisions based on the information provided. The author and the publisher of this blog post disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use or application of any of the contents herein.

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