I’m a little bit confused and looking for some help with cryptocurrency rewards and how CGT may apply in this situation.
Over the past 4 months, I’ve been using a web browser called Brave. Each month I receive Brave Rewards in the form of a cryptocurrency called BAT (Basic Attention Token). I have kept written records of the dates, number of tokens received and the market value in AUD each time I have received a Reward.
Brave is partnered with an exchange called Uphold to hold BAT rewarded from Brave. I wanted to transfer a total of 18.5 BAT I had accrued from Uphold to BTC Markets - and when I attempted the transfer, I was shown a fee of 22 BAT would apply (lol). So I didn’t do that..
Instead, I transferred 18.5 BAT from Uphold to BTC Markets XRP wallet. Based on market value, the 18.5 BAT = 12.803273 XRP. (1 XRP = 1.44483 BAT, plus Network Fee -0.00144 BAT). I have the date and market value of XRP at time of transfer
Does this trigger a CGT event? And if so, how do I calculate this event?
I really appreciate your help and guidance helping me figure this stuff out