What are labels and how do I use them?

Quick Answer

Every deposit and withdrawal has the option to be tagged with a label. Examples of labels are mining, staking reward, airdrop, and gifted away. Labels are used to ensure that the transaction is correctly represented and taxed accordingly. You can edit the label of a single transaction, or multiple transactions simultaneously.

You can find a detailed list. explaining each label and it's purpose.

Detailed Explanation

You can easily label your transactions after importing them into Divly. In some cases labels may be automatically set when importing your transactions. This depends on the specific integration with the wallet or exchange.

To label one transaction:

1. Go to the Transactions page in Divly.

2. Find the transaction you want to label, use the filters if necessary.

3. Click on the transaction to expand it.

4. In the bottom right corner of the expanded transaction, select the relevant Transaction label in the dropdown.

To label multiple transactions simultaneously:

1. Go to the Transactions page in Divly.

2. Find the transactions you want to label, use the filters if necessary.

3. Click on the box icon next to each transaction you want to be labeled.

4. Above all the transactions, select the label in the dropdown for deposits or withdrawals.

Every label has its own specific rule set which when used is applied to a transaction. Not only is it nice to have a better labelled overview of your transactions, but it also ensures that the taxes are calculated correctly.

The rules applied depend on the country you specified in your Divly Settings. Divly provides tax guides for supported countries where the effect of each label is explained in detail.