According to a press release from tax service provider Refundo, American taxpayers will be able to receive their federal tax refunds in Bitcoin Cash (BCH), Ethereum (ETH) and XRP, aside from Bitcoin (BTC).
📢 Announcing IRS and state income tax refunds in Bitcoin Cash, Ethereum, and Ripple https://t.co/lPhLsNn67L
— refundo (@refundo) January 28, 2020
Before these cryptocurrencies were added, 141 million Americans could receive their tax refund only in Bitcoin (BTC), so Refundo thought, it’s time to make some additions. In May 2019, it launched the CoinRT product that allows people to receive tax refunds in BTC, the product that was created in partnership with BitPay, the crypto payment processor.
CoinRT Is Very Easy to Use
Taxpayers just need to create their RefundoCoinRT account, after which they’re being given a unique account and routing number that they have to put on their tax return, together with the background details of the Know-Your-Customer (KYC) regulations and their BTC, XRP, BCH or ETH wallet address.
As soon as the IRS or the state makes a direct deposit of the tax refund into their account, Refundo takes over to process the refund and to deposit cryptocurrency in the designated crypto wallet. This service costs only $34.95 and only needs to be paid once.
Refundo Customers Will Be Allowed to Access Their Refunds Seamlessly
The CEO of Refundo, Roger Chinchilla, says customers of his company will be able to access their refunds seamlessly. These were his exact words, as outlined in the press release:
“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. 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.”
The other great news here is that other cryptocurrencies are going to be soon added to Refundo.