Cryptocurrency swaps

[Leo1]

Please explain how to enter a cryptocurrency swap.

Thanks

[Tomsus]

Hi @Leo1,
To register a cryptocurrency swap, you should follow these steps:

• Record a “sell” of Crypto A.
• Record a “buy” of Crypto B.

Ideally, the Credit Note (Buy) should match the Debit Note (Sell) in economic value.

Please note that this procedure may lead to inaccurate calculations of realized capital gains, as it assumes both a conversion to FIAT currency and a sale that, in reality, never occurred.

I have already highlighted this problem in one of my posts on this forum:

Incorrect reporting of cryptocurrency transactions in Portfolio Performance

I have encountered some issues with how cryptocurrencies are reported in Portfolio Performance. Specifically, I have identified problems in two main areas: Conversion from Crypto “A” to Crypto “B”: When converting from one cryptocurrency (Crypto “A”) to another (Crypto “B”), the software requires the transaction to be recorded as Crypto “A” → EUR and then EUR → Crypto “B”. This method introduces an error in calculating realized gains, as it involves a fiat currency transaction that never ac…