We recommend to take your time with our service,
it´s quite complex and it's good to build some knowledge and understanding, to be able to use it the most efficient way.
- There is the easy solution.
Just add your current balances as "Income", but of course this is not tax reliable.
This only tracks future transactions.
- And there is the more complex way, if you need a reliable gains calculation:
The first and most important thing is to add all data to our system. (Related to your Cryptocurrency trading)
Our system works according to the principals of double entry book keeping and calculates the exact holdings from the data that was entered/imported.
You should make sure that to add every transaction exactly like it took place on your exchanges
Try to add all transactions from all exchanges you ever traded Cryptocurrencies.
This way your gain and tax reports will be reliable and correct.
Unfortunately sometimes exchanges provide wrong data or transactions are missing in their account statements/API exports.
We have no influence what they provide to their customers and we can only import what the data provided by them.
In some cases it is necessary to complement entries
or to go through transactions and make sure that nothing is wrong/missing in the imported data.
We have added notes to our import pages where transaction types are missing..
Our system is not fully automatic and it takes some time and effort in order to get a perfect managed portfolio.
The best and easiest way is to add one exchange/Wallet after another
while checking the balance for each one on the "Balance by Exchange" page.
If balances do not match up for single exchanges you can add missing data manually
on the Transactions page or in a bulk process with one of our "Bulk Imports".
(The "Excel Import" or the "Custom Exchange Import")
It´s easier if you do this by watching out for data that is already included in imports and data that is not yet included or wrong.
(For example some exchanges don't provide deposit and withdrawal transactions.
You only need to enter those in order to correct your balance)
Here are the steps describing how you improve your existing data. (Start from scratch)
1. Backup your current state (In case you already entered data)
2. Delete all data (optional)
3. Add/Edit data for one exchange after another
4. Start with the first one and control your balance on the "Balance by Exchange" page.
5. If the balance doesn´t match your current holdings control the data on the "Transactions" page and compare it with the actual executed transactions.
6. Enter missing transactions either manually with the "Excel Import" or the "Custom Exchange Import". (Bundled)
7. Correct wrong data. For example with missing fees, wrong entries, etc.
8. Backup the state after every single exchange that you´ve added completely and correct.
9. Make sure you did not miss things like Hardfork receivings, ICO Coins, Gifts, or other entries, that are not included in the CSV/API imports.
Please go step by step. There is no way around it.
You should also read carefully our FAQ on the imports section. There are things you should be aware of. Most of the time wrong balances are caused by wrong importing, missing data (missed notes on import pages) or a misunderstanding of our software.
We know our software works since it is used for gain declaration and trading insights for hundreds thousands of users all over the world.