Setting missing token price manually
K
Keen Antlion
Problem:
When a token has no value on coinmarketcap, it's current value is simply ignored and set to "0" in the portfolio. As a result, the portfolio's value is wrong. Setting "worth" value in transaction doesn't work as the coin has not been sold yet.
Suggestion:
Allowing user to set the price per unit at a fixed moment in time will mitigate the issue. At the moment this make the portfolio value totally useless. With a fixed price, it will just not be up to date. Of course user should be warned:
"you have set some token values manually, current value of the portfolio may differ from real time value"
Another option that may possible would be to fallback on pancake swap API. For example, this is the IBAT endpoint to get current price (no key needed):
Current price is trivial to extract. (But API might have some undocumented limitations.)
Note:
Setting worth price in Koinly works by putting the value of the total you own, which is convenient when you buy from FIAT because you know that amount, but not when you send it because you need to multiply the current value per unit with your amount (so a calculator will usually be needed).
In the case of the portfolio, price per unit seems easier for the user, as it will avoid calculation.
P
Profitable Limpet
Unless you copy the entire blockchain of a minor coin into koinly software, the zero bal is the net result. At present clients can change a current value for Year End accounting procedures as koinly has set up as 'worth' adjusting.
However I see ther is a glitch where client changes the zero bal worth to current market value of qty, the 'MANUAL' box found under transactions, along side TYPE-TAG-WARNINGS-DATE looks to not pick up ALL of the clients changes depending on type of coin activity. This is unhelpful as this is really the only way to log all adjustments clients have made accurately, therefore this should include ALL activities not just some.
End Of Year balances are only accurate if at the end of the changes they are then checked individually and adjusted on the FINAL financial day price and updated at this time. Clients must go back and check these to produce an accurate report for there accountant. Its all a lot of extra work but I cant see any other way around it.
It is necessary to download the spreadsheet available on some blockchains. With regards Pulsechain blockchain this is extra hard as transactions are not as simple to read/reconcile.
If the client has an accurate recording of ther full transactional history, then this makes it easier for them to abstract the dates & balances required for countries Year End and double check accuracy.
Hope this helps koinly upgrade MANUAL box to include ALL coin activities.
Thank you
C
Celestial blue Stingray
This also would be good to correct missing values in the year end/beginning holding reports.
P
Precise Peafowl
Currently users can set the worth for deposits manually based on the price of the token on the deposit date, but users have to know what the price was if the token was not listed on CMC or Gecko. Setting price per token is not available yet and we will consider this option in the future as well as using various price feeds.
L
Lexical Bobcat
Precise Peafowl: the request here it to. E able to input current price of nontracked tokens so the portfolio value is shown correctly, right now the portfolio value showes all non auto tracked tokens as zero value. Basically makes the portfolio value number in koinly irrelevant as it is not even close to reality. Setting price of a deposit manually has no mathematical Impact on the portfolio value
F
Few Dinosaur
Lexical Bobcat I second this. I have the same issue. I swapped a token (which does have a market price feed) for the staked version of the token. The staked version doesn't have a price from the market feeds and shows as zero. I would suggest an option to link any price feed to any token. That way, I could set the token market feed to the staked token.