Adding Cryptocurrencies to your portfolio

This is a Sharesight beta feature for tracking Cryptocurrencies, such as Bitcoin. Read more about it on our blog.

Sharesight currently support these Cryptocurrencies:

CodeCryptocurrencies
XBTBitcoin
ETHEthereum
XRPRipple
LTCLitecoin
XLMStellar
DASDash
XMRMonero
BTSBitshare

Follow the step by step guide to adding a Cryptocurrency. Bitcoin is used as an example below, the steps are the same for adding all supported Cryptocurrencies.

1 – From the left panel ‘Add New Holdings’ on the ‘Add or import holdings’ page, type the holding name: ‘Bitcoin’ or code: ‘XBT’ in the ‘Search by name or code’ field and select from the dropdown list.

All Cryptocurrencies are on the FX: Foreign Exchange Market in Sharesight.

cryptocurrency 1

2 – Select either a ‘Buy’ or ‘Opening Balance’ transaction.

cryptocurrency type

Buy - step by step guide

3 – Select the date of the transaction from the dropdown calendar.

cryptocurrency 2 buy

4 – In the ‘Quantity’ field, input the number of Bitcoins purchased from the Buy trade. From the dropdown menu you can select the denominations for the quantity to be added as:

  • XBT - Bitcoin - One Bitcoin - 1.00000000 Bitcoin
  • mXBT - Millibitcoin - One Kilobit - 0.00100000 Bitcoin
  • uXBT - microbitcoin - One bit - 0.00000100 Bitcoin

cryptocurrency 3 buy

5 – Input the per unit price of Bitcoin, at the buy date. Alternatively, select the price provided by Sharesight’s data provider by selecting the price below the field.

Use the dropdown menu to select the Bitcoin price in another currency. The default is the currency of the portfolio.

Bitcoin will be tracked in the portfolio currency, which is determined by the tax residency of the portfolio.

If the currency is changed to another currency other than Bitcoin or the portfolio currency, an additional exchange rate, against the portfolio currency is shown.

cryptocurrency 4 buy

6 – Input ‘Brokerage’ fees if there are any. Brokerage can be in Bitcoin, or you can change it to another currency by using the dropdown menu above the brokerage field. If the currency is changed, the exchange rate of the portfolio currency as determined by the portfolio tax residency will be shown below the brokerage field.

cryptocurrency 5 buy

7 – Review and click ‘Save this holding’.

Once the trade is saved, your Cryptocurrencies investment will be added to your Sharesight portfolio and the Portfolio Overview page will load.

If you haven’t set up a Custom Group, your holdings will be grouped by market on the Portfolio Overview page. Bitcoin is located in the Foreign Exchange Market, FX.

Click on Bitcoin to load its Individual Holding Detail page.

Opening Balance - step by step guide

3 – Select the date of the Opening Balance from the dropdown calendar. We recommend using the date of the beginning of the financial year.

4 – In the ‘Cost Base’ field, input the total Bitcoin cost on the Opening Balance date. The currency is the currency of your portfolio which is set by the portfolio tax residency of the portfolio.

5 – In the ‘Quantity’ field, input the amount of Bitcoins on the Opening Balance date.

6 – The ‘Average cost per unit’ is calculated Sharesight.

7 – The ‘Market value’ is automatically calculated by Sharesight using the ‘Quantity’ of Bitcoins, divided by the exchange rate. The exchange rate is related to the currency of the portfolio as determined by the portfolio tax residency and can be edited by selecting the ‘edit’ link. To change the market value, click the ‘edit’ link and input a ‘Market price’ and ‘Exchange rate’ for the Open Balance date.

8 – Review and click ‘Save this holding’.

cryptocurrency opening balance

Once the trade is saved, your Cryptocurrencies investment will be added to your Sharesight portfolio and the Portfolio Overview page will load.

If you haven’t set up a Custom Group, your holdings will be grouped by market on the Portfolio Overview page. Bitcoin is located in the Foreign Exchange Market, FX.

Click on Bitcoin to load its Individual Holding Detail page.

Last modified on April 29, 2018 UTC