The most conservative approach is always set as default by Recap. Tax authorities accept different approaches so switching method should not be an issue. However, different methods can be beneficial to your tax position, so it is important that you remain consistent with your approach.

Simply head to the settings page and select a different tax method from the dropdown. You will be able to see the change instantly within your tax report - this may aid your choice but don't forget about the need for consistency, switching to reap the benefits is unlikely to go unnoticed!

We advise you to research the methods and recommend speaking to a tax professional if you expect the change to make a significant difference to your tax bill.

Recap follows HMRC methodology and recommends Daily Average pricing. For a better understanding on UK cryptocurrency tax check our guide.

Recap follows IRS guidance and recommends FIFO cost basis. You can find out more about different cost basis methods here.