Most Frequently Asked Questions and Their Solutions

What is Syncing and how does it work?

Synching exchanges, blockchains, and wallets allows CRPTM to gather your information from them and present it to you in an organized way under a single platform. It works by connecting to the API of the exchange or other platform, downloading the data, and then translating it into a format that can be read by the CRPTM software. The process is repeated periodically so that your data is always up-to-date.

When possible, we ask that you restrict access to these API keys to only View.

When attempting to add or sync an exchange, I get an error. What should I do?

Exchanges frequently (or inadvertently) remove API access for CRPTM. Fortunately, the remedy is simple.

Create a new key on the exchange (some exchanges prohibit an old key from being used a second time)

Verify that all required read-access permissions have been enabled, as instructed on the add exchange page.

Check that you’ve entered all of the API details correctly, including any passphrases generated using the API key. Some exchanges, for example CoinbasePro or Kucoin, demand a unique passphrase for each API key you create.

Confirm that the API key is enabled via two-factor authentication and an email confirmation

Confirm that the API key has not been restricted by IP addresses (we intend to add this in the future)

Make sure the exchange account has been used and is not empty. Some exchanges, like Kraken, refuse to sync empty accounts using their API to a third-party service.

If the exchange is still not syncing, even after following our earlier instructions, visit the ‘My Accounts’ page and check whether the account is listed under ‘Expired’ account. Try reconnecting to your account and provide the API key to reconnect.

Why do I see a discrepancy between the price you’ve listed for a coin and the price listed on my exchange?

To simplify things, we must display only one value of a specific currency at any one moment. We accomplish it, at present, by taking the average price of all exchanges, and third parties which may differ from the particular price displayed on any single exchange. We’re making progress toward this goal by switching to per-exchange pricing.

The real-time or live pricing displayed in your account is based on a single exchange for each coin. This is a compromise that enables us to provide you with real-time prices and another area where we’re trying to improve.

Some of my transactions are missing, can I add them manually?

We will be providing manual transaction support very soon. In the interim, you can contact us for further queries or assistance on [email protected]

I have transactions missing from my wallet or exchange, and/or my balances are wrong. What should I do?

Occasionally, transactions sent from your wallets or exchanges may be missing in your CRPTM Portfolio. There are a few potential causes for this, including the following:

When was the exchange or wallet last synchronized?

Since CRPTM is a standalone application, it runs in the background and automatically synchronizes exchange and wallet balances about once per day. If you notice that your most recent balances or transactions are out of date, you may refresh by clicking on the ‘Sync’ button that you see on the ‘My Accounts’ or Add Accounts’ pages, any time. You could also sync a single account by clicking on the icon.

Are the API credentials accurate?

Syncing should work properly if your API credentials are 100% correct. Credentials might fail for a variety of reasons, including

-Incorrect or expired passwords.

-Expired API Keys

-Wrong fields used to input

-Incorrect input

-Restricted to a specific IP

At times, CRPTM will provide a reason that the API credentials did not work. However, in some circumstances, we may issue a generic error indicating that the exchange has never been updated.

Have you assigned API keys to all of your CoinbasePro portfolio accounts?

CoinbasePro supports creating multiple portfolios under a single account and the API key is only associated with one portfolio. If you have more than one portfolio under your CoinbasePro account, however, you must add API keys for each of them for CRPTM to correctly sync all of your balances, trades and transactions.

Check if the exchange is API operationalized?

Exchanges occasionally have downtime, malfunctions, or other service outages. When this happens, CRPTM is unable to retrieve balances and transaction histories from your accounts. To learn whether they’re down for maintenance or not, go to their status pages.

Check if the wallet address is correct?

Users occasionally input the incorrect wallet address on their accounts or choose an address from an exchange or a centralized cryptocurrency service. It’s something we all do!

Never use deposit addresses to add any type of exchange or centralized cryptocurrency service such as Coinbase, Gemini, or BlockFi. Instead, connect them to CRPTM via its APIs or upload your CSV transaction history. The reason being- these addresses are frequently reused and assets are sent to cold wallets. Only use those deposit addresses that you yourself control like in the wallets.

Cross-check to see whether the wallet address is correct (not from an exchange or a cryptocurrency service) and compare the balance to a block explorer for the currency in question in some cases., such as Etherscan (ETH plus ETH tokens), BlockChair(BTC, ADA, ETH, plus14 others), Tronscan (TRX), to name a few.

These measures didn’t work. What am I supposed to do?

Please submit a feature request on contact us Page

Why are my transactions showing the incorrect coin?

When possible, CRPTM links the transactions from your exchanges and wallets to the corresponding cryptocurrency symbols. However, a coin may not be discovered (for instance, unsupported currency), the symbol is overloaded (for instance, 2 or more coins showing the same symbol), or another problem of coin mapping arises on rare occasions. However, this can be remedied in a few simple steps. Simply change the transaction to the one you wish using the dropdown menu, then swap out the coin for the correct one.

I’m using the Search tab, and I can’t seem to find the coin? What should I do if this is the case?

It indicates that we haven’t yet discovered the coin; hence, submit a feature request on contact us Page

Do I have to pay taxes on my cryptocurrency investments?

Yes, if you are a citizen of the United States, your cryptocurrency transactions are treated as ‘property,’ and hence, are taxable. In 2020, the IRS amended their Form 1040 for tax returns and mentioned this question at the top of the form. If you have sold, received, sent, exchanged, or otherwise have acquired an interest in financial assets or in any of the virtual currencies at any time during 2020, it would be critical for you to submit your cryptocurrency taxes in order to stay compliant.

Will I be audited?

At present, the IRS is targeting people who are actively using cryptocurrency as a means to evade taxes or who are avoiding tax payments on their cryptocurrency capital gains. In the event of an audit, you may avoid penalties and/or fines by filling up and paying your crypto taxes accurately.

What is a ‘Taxable’ event?

A ‘Taxable’ event is a sale transaction or the disposition/disposal of an asset. It occurs when a currency is exchanged for cash (known as ‘fiat’) or any other type of cryptocurrency, or when the cryptocurrency has been utilized to acquire products or services.

It’s not a taxable event if you are transferring a cryptocurrency from one exchange to another.

It’s a taxable event when you convert one type of cryptocurrency to another.

The IRS has also prohibited anyone from trying or attempting to 1031 exchange your ICO holdings. It is advisable to talk to your Tax Consultant when making such decisions and how aggressive or conservative you would want to be.

Will CRPTM prepare and work out my taxes for me?

We don’t work on, nor prepare, your taxes; however, we would definitely aggregate all of your wallet and exchange data to simplify tax filing and reporting for you or for your Tax Consultant, enabling you to submit the forms you would require for taxation purposes.

Do you have any cryptocurrencies or exchanges integrated with the platforms that you use? Will you add more in the future?

At present, CRPTM supports 35+ exchanges and 10000+ cryptocurrencies. We’re working hard to incorporate additional exchanges, blockchains, wallets, and protocols on a daily basis, and provide support for NFTs as well. We are currently servicing the US only;

Currently, we are servicing the US only; however, since CRPTM is Global, our services will be made available to anyone across the globe, who uses multiple ledgers and wants their transactions quickly combined and cleaned up into a legible format. We are looking to support all global currencies, including British Pounds, Euro, Japanese Yen, and others in the near future, aside from the current US Dollars, and will soon be able to support and offer global tax forms alike.

How do I ensure that I am in compliance with the current cryptocurrencies that I have, such as ZCash, Monero, or Dash?

As always, we advise clients to import all their tokens and transactions for comprehensive Tax and Regulatory compliance.