Where should the purchase of the cold wallet be recorded as fees?

English
1

Hi,

I created a securities account and a cash account for my crypto exchange platform, and another pair for my cold wallet.

I entered the purchase cost of the cold wallet device itself as a transaction in the corresponding cash account, but I think this may be distorting the performance calculations and graphs.

According to the terminology in Portfolio Performance, I considered the cold wallet purchase to be a “fee” rather than an investment asset, so I recorded it there. But I’m not sure this is the correct approach.

Should the cost of the physical cold wallet device be recorded as a fee in the cash account, or is there a better way to handle it in order to keep the portfolio performance calculations accurate?

2

There is no right or wrong. It is important to remember how you booked your transaction. Otherwise your analysis will mislead you.

For the long run, your bookings must be consistent!