What is a Rebrand?

A rebrand is when a cryptocurrency changes its name or its blockchain. Most of the time these changes are mandatory and necessary to keep your investment value. These are presented as trades which could present as a taxable event. Luckily, we're here to help you avoid this unnecessary capital gain.

When to use Rebrand

When a token changes names, it’s important that we represent that name change in Zenledger. We use the name of the token to keep track of the asset’s price. If the name change is not represented, your gains and losses for the new assets may be incorrectly calculated.

How to Mark a Token for Rebrand

You can access your transactions by first finding the transaction on the Transaction page. Next to the transaction will be a green down arrow which will allow you to edit the transaction.

A similar value of token A on both transactions or similar timestamps on both transactions will help identify the Rebranded token. It looks for a couple factors: Token A outgoing/sent out of an exchange or wallet and Token B incoming/received into a wallet or exchange wallet.

The label you are looking for is Rebrand:

A Text box will pop up that will allow you to select a matching Rebrand pair. You will select the matching transaction that your cryptocurrency changed into.

That will change the pair to a one-line rebranded transaction. This transaction will no longer be a taxable event, and will incur no capital gains.

If you have any additional questions please don't hesitate to reach out tour support team in the live chat.