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Updating your Cost Basis

The cost basis of an asset is its original acquisition cost. There are a few reasons why you’d want to Update Costs Basis. You’ll find this button on your Transactions page:




Reason 1) Cryptio does not allow you to directly change the cost basis of a transaction. Instead, you can change the incoming USD rate of a particular transaction, which will affect its cost basis.

Reason 2) An asset may have a ‘missing price’ error, meaning our asset price providers may not have data going far back enough to the time that you owned it and therefore you will want to enter the price manually.

To do so:

  • Go to the "Transactions" page

  • Locate the transaction you want to edit the cost basis of and click anywhere in the white space of the row to open the pop up editor

  • Change the USD rate of the transaction by editing the input box labeled either:

    "Incoming USD rate" or "Outgoing USD rate" (depending on if this transaction is a deposit or a withdrawal)

  • Click the "Save" button

Reason 3) The first thing you need to do before syncing transactions to your accounting software is check whether you need to Update Cost Basis.