Receive tax refunds in Bitcoin, Ethereum, Ripple (XRP) and Bitcoin Cash

  • Refundo has expanded its product range and now offers its customers tax refunds in Bitcoin, Ethereum, Ripple (XRP) and Bitcoin Cash.
  • The company reacts to an increasing demand of its customers and also wants to go with the trend of the time.

Refundo is an American based company that helps people to prepare a tax return at low cost and then file it with the appropriate authorities. Last year, Refundo introduced CoinRT, which allowed Refundo taxpayers and customers to receive federal and state tax refunds in Bitcoin.

This service met with strong demand, so Refundo is now expanding its portfolio with several additional cryptocurrencies. In yesterday’s press release, the company stated that tax refunds can now be received not only in Bitcoin, but also in Ether, XRP and Bitcoin Cash.

Roger Chinchilla, CEO of Refundo, describes how he wants to offer his customers easy and smooth access to tax refunds:

We love new technology and we’re always looking for opportunities to help our customers get access to their tax refund in a seamless manner and however they see fit.

Chinchilla further states that he already felt last year that this is only the beginning. Especially for people with limited access to financial services and for underpaid people, cryptocurrencies offer a worthwhile alternative, as transactions can be processed faster and cheaper:

When we launched support for Bitcoin last year, we knew we were just getting started. Cryptocurrencies are increasingly faster, lower cost, and fit the need of the underbanked. We are pleased to be able to support BCH, ETC, and XRP and look forward to adding other cryptocurrencies in the near future.

Many low-income taxpayers are often confronted with misleading conditions and feel helpless in their search for reliable tax advisors at affordable costs. Refundo offers to receive repayments in cryptocurrencies for a flat fee of 34.95 USD. It is irrelevant whether the tax return was filed online or by a tax consultant.

All taxpayers who want to use the service must set up a CoinRT account. Furthermore, all necessary information for the Know-Your-Customer rules must be given, as well as the specific wallet address of the cryptocurrency used (BTC, ETH, XRP or BCH).

As soon as the Internal Revenue Service pays the tax refund to the account deposited with Refundo, Refundo processes the payment and then immediately sends the crypt currency to the deposited Wallet. This is to avoid weeks of waiting for a check for tax refund by mail, redemption fees or the detour with a bank.

Adaptation is increasing worldwide

The use cases of cryptocurrencies continue to increase worldwide. Yesterday, XRPL Labs, the development company of Ripple, announced that they will launch a banking application that will make traditional online banking obsolete in the long run.

The German tech giant Bosch received a patent to develop a payment system based on IOTA. The system should be able to process several thousand transactions per second. Due to the use of the IOTA Tangle there are no transaction fees.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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