Product

Why should I use Cryptio?

We built Cryptio because as cryptocurrency investors ourselves we felt the need for a real-time monitoring and analysis tool for our portfolios. We have verified the needs with the community, and their feedback and validation are reflected in each feature.

Key features: 1. Consolidated history of all your cross-exchange activity with gains and losses computation. 2. Real-time monitoring of all your coins 3. Tax reporting with computation of your proceeds, gains and losses.

Features under development: 1. Portfolio analysis: indices, risk/volatility, contribution to overall portfolio performance, allocation simulations; 2. Place orders on all exchanges directly from Cryptio; 3. Markets analysis: pricing data, sentiment analysis, community scores; 4. Customisation: set and track goals for different strategies.

Are you an investor and need a specific feature very badly? Contact us at contact@cryptio.co

How do you connect to different exchanges?

We use API connections to communicate with the following exchanges: Coinbase, Bitstamp, Bittrex, Binance, Poloniex and Kraken. We ask users to generate “read-only” API keys. No crypto-assets are stored with us, and we do not have access to your private keys. Therefore, we will not be able to make any changes to your accounts. API connections to other exchanges are under development (Cryptopia, Bitfinex, GDAX...)

Do you have a mobile app ? What about the 'Cryptio' app that we can find on the Play Store?

Cryptio is only a web app for now. We are going to release a mobile app by Q4 18. The Cryptio app on the Play Store is a copycat of Delta and Blockfolio.

Portfolio

How do you update the prices of my crypto-assets?

We use the Coinmarketcap API connection, which gives us the price of the asset in real time.

Why is the price on Cryptio different from the price on my exchange?

Given the differences in liquidity and supply and demand, assets' prices differ from exchange to exchange. For simplicity's sake, we take the average price across exchanges provided by Coinmarketcap. Note: We are working to provide more personalization on data sources.

Is it possible to add a coin manually?

Yes, we allow users to manually add their transactions and coins to their portfolios.

History

What is and how is computed the transaction valuation ?

The transaction valuation is the valuation of the transaction in fiat currency (eur/usd). It enables us to store cost basis and compute gains and losses. For crypto - fiat transaction, it accounts for the fiat amount involved in the transaction. For a crypto to crypto transaction, we compute the transaction price by taking the price of the base currency (BTC, ETH, LTC, XMR, BNB) in eur or usd. We have a database with the hourly price history of BTC, ETH, LTC, BNB, XMR in USD.

What sources do you use to valuate crypto to crypto transaction in fiat currency ?

We are using CryptoCompare indices for BTC, ETH, LTC, BNB and XMR. These indices are weighted with the exchanges volume.

What accounting method are you using to compute gains and losses ?

Gains and losses are computed with a FIFO ('First in, First out') algorithm. The algorithm computes gains and losses depending on the buy transaction date. If you bought 1 BTC at $ 1 000 on January 1st, then you bought another one on February 1st at $ 1 500 and finally you sold one on March 1st at $ 2 000, your computed gain is $ 1 000 (2 000 - 1 000).

What is a not-identified transaction in the 'Gains/Losses' column of the History?

A non-identified transaction is when you sell a coin and that there is no buy transaction of that coin in your transaction history. For example, you sell 100 VEN against BTC, but we cant see any transaction where you bought VEN before. All not-identified transactions in the history are marked by 'Non identified' in the 'Gains/Losses' column of the transaction history. To decrease the number of non-identified transactions, complete your transaction history.

I have gains and losses that do not seem consistent. Why ?

First, we remind our users that the computation method is FIFO. In other words, the cost basis involved in the transaction is the one related to the oldest buy transaction(s). If you buy a coin and you sell it just after, it might not be the one taken into account in the transaction if you bought some other before ! Otherwise, the usual reason why you have non-consistent gains/losses data is because of a non-exhaustive transaction history. If you sell for example 1 BTC and that your history tells us that you only bought 0,3 BTC, we compute your gains only using the cost basis of the 0,3 BTC. We put a cost basis of 0 for the other 0,7 BTC.

Tax Reporting

What taxes apply to crypto-assets?

To learn more, please refer to the article we've co-written on this subject with our tax law partners.

What accounting methods do you use?

Gains and losses are computed with a FIFO ('First in, First out') algorithm. The algorithm computes gains and losses depending on the buy transaction date. If you bought 1 BTC at $ 1 000 on January 1st, then you bought another one on February 1st at $ 1 500 and finally you sold one on March 1st at $ 2 000, your computed gain is $ 1 000 (2 000 - 1 000).

I haven't added all of my transactions and accounts. Will this be a problem ?

It's the user's responsibility to import all of his trades for fiscal year 2017. Failure to import everything results in inaccurate tax base calculations.

What is a not-identified transaction ?

A non-identified transaction is when you sell a coin and that there is no buy transaction of that coin in your transaction history. For example, you sell 100 VEN against BTC, but we cant see any transaction where you bought VEN before. All not-identified transactions in the history are marked by 'Non identified' in the 'Gains/Losses' column of the transaction history. To decrease the number of non-identified transactions, complete your transaction history.

Privacy and Security

Is this platform secure?

Security is our number one priority in developing this platform. Your connection to our website is secured via a SSL certificate. Users' read-only API keys are hashed. Moreover, the user can delete all of his data at any time (from the 'Settings' section).

Do you sell my transactions data?

No, we do not sell users' transaction data to third parties.

Do you work with tax agencies? How can I make sure that my data is not sent to the government?

We neither work with nor are associated in any way with tax agencies. Our mission is to help users navigate the regulatory uncertainty. To ensure this, we never ask for the user's name, address, or any other type of personal data (except email and password). For those who do not wish to identify themselves via an email login, we also offer login via Metamask, which allows the user to have secure and fully anonymous access to the platform.

Business Model

Is this tool free?

We offer real-time portfolio consolidation feature for free to all users. We will offer paid tiers for the tax reporting feature.

Feedback

For all comments, ideas, or other messages, please email us at contact@cryptio.co