CoinTracker Integrates XDC Network, Advises '0x' Address Format Ahead of Native Support

CoinTracker, a prominent cryptocurrency tax software, has officially launched support for the XDC Network, enabling users to track and manage their XDC transactions for tax compliance. However, the platform currently advises users to input their XDC addresses using the "0x" prefix as a temporary measure, with native "xdc" address support slated for future implementation. This development was announced via CoinTracker's official social media channels.

"Note: If your address starts with 'xdc', paste it in the '0x' format for now. Native 'xdc' support coming soon," CoinTracker stated in the tweet, providing a crucial instruction for early adopters. This workaround is necessary for successful wallet validation and synchronization within the platform.

The XDC Network, also known as XinFin, is an enterprise-grade, EVM-compatible blockchain protocol designed for global trade and finance. It is recognized for its low transaction fees, fast processing speeds, and compliance with the ISO 20022 messaging standard, making it suitable for real-world asset tokenization and institutional use cases. The network's native token, XDC, powers its ecosystem, facilitating transactions and smart contract execution.

CoinTracker's integration marks a significant step for XDC Network users, offering a streamlined solution for tax reporting on their holdings and activities. Previously, users often resorted to manual CSV imports or alternative platforms due to the lack of direct support. The platform's product feedback pages indicate that this integration has been a highly requested feature from the XDC community.

The temporary address format requirement stems from XDC Network's EVM compatibility, where addresses often share the "0x" prefix common to Ethereum and its compatible chains. While the XDC Network itself recognizes both "xdc" and "0x" prefixes for transactions, CoinTracker's system currently processes the "0x" format more seamlessly for integration. This move by CoinTracker is expected to simplify tax season for a growing number of XDC holders.