How do you all track crypto assets?

Right now I have a small amount of crypto assets but I think it would still be worthwhile to include it in my overall ynab net worth. How do you all track the value since it is so volatile. Is there a third party application that can work with an API?

Thank you,

C

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  • Just put the crypto account in your budget as a tracking account and update the balance once a month at the end of each month.

    Like 4
  • One addition: Don't try to link it.

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  • in the beginning i had an scheduled transaction to subtract 1000 a month from my tracking account.
    😉


    These days i manually update it once a month or so.

    Like
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 wk ago
      • Reported - view

      SgtBatten I'm currently  up 80% since January 4th. 🙂

      Like
      • SgtBatten
      • "YNAB broke" since 2013
      • SgtBatten
      • 3 wk ago
      • 1
      • Reported - view

      Superbone I'm mostly out of the game. It hurts a little seeing the rise but it bought us a car and 7 weeks in Europe in 2019. Pretty happy with that.

      Like 1
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 wk ago
      • Reported - view

      SgtBatten Nice! Yeah, I just dabbled the first time a few years ago now and more than tripled my money. Then in January I bought a sizable position of Bitcoin which I plan on holding for a while.

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      • Budget_NC
      • Tomato_Snow_237e7f17927
      • 3 wk ago
      • 1
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      Superbone Sadly I missed the boat on this one.  It would be nice to get ahead of the curve on something and make some extra money.🙂

      Like 1
      • nolesrule
      • Been waiting 5 years for the Stealing From the Future fix...
      • nolesrule
      • 3 wk ago
      • 1
      • Reported - view

      Budget_NC I put $200 in crypto out of my personal spending money to scratch the itch ($100 Bitcoin, $100 Ethereum). I'm going to let it sit.

      I just don't trust it as an actual investment as it has no inherent value. It's essentially a collectible. It's like the beanie baby craze. The only reason it's worth what it is is because people think it's worth what it is. I also half expect that there are pump and dump schemes going on with this thing and money laundering.  I expect it to eventually come crashing down.

      And you can't use it for transactions efficiently because every transaction is a taxable event at both the state and federal level, so it's impractical to use, besides the fact that it doesn't have a stable value, so using it to buy something may or may not be a good deal at any given time.

      Like 1
    •  nolesrule 

      • bitcoin is a deflational tool to use as a store of value
      • it is finite, meaning that by 2042 all bitcoin will be mined. suplly diminishes and demand rises.
      • criminals used btc to launder money 8 years ago when know one knew about. today everything is seen.
      • the technology behind bitcoin is far more important than bitcoin it self. the blockchain is a system that makes it possible for all to see what is happening. a decentralized ledger. everyone has a copy of it.
      • again bitcoin is far more usable as a way to store value like in gold and stocks. than to buy stuff with. the volatility will like decrease around 2045.

      and there are numerous reasons why one wants bitcoin. even though its at an alltime high i believe its just the beginning.

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      • nolesrule
      • Been waiting 5 years for the Stealing From the Future fix...
      • nolesrule
      • 8 days ago
      • Reported - view

      Sea Green Hammerhead 

      Sea Green Hammerhead said:
      bitcoin is a deflational tool to use as a store of value
      it is finite, meaning that by 2042 all bitcoin will be mined. suplly diminishes and demand rises.
      criminals used btc to launder money 8 years ago when know one knew about. today everything is seen.
      the technology behind bitcoin is far more important than bitcoin it self. the blockchain is a system that makes it possible for all to see what is happening. a decentralized ledger. everyone has a copy of it.
      again bitcoin is far more usable as a way to store value like in gold and stocks. than to buy stuff with. the volatility will like decrease around 2045.

       I love a talking point list that is all babble.

      It's a man-made commodity. It has no inherent value. It's only worth is what someone else is willing to pay for it. As such it is not a good way to store value.  And it's expensive to use to pay for things.

      The idea that everything is seen with bitcoin is laughable. Most people are now used to owning crypto via an exchange, but there's still plenty of dark ownership of bitcoin.

      Gold isn't a great store of value either. It suffers the same problem. And one does not buy stocks a s a store of value. One buys stocks as a means of buying ownership in the means of production and earning a profit from said ownership. If you don't know that then you probably shouldn't be buying stocks.

      Yes, blockchain technology is rather important, but how is that a reason to actually buy bitcoin? Owning crypto is not an investment in the underlying technology. If you can't see the difference, then you are just repeating the pro-crypto talking points mindlessly.

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      • Annieland
      • I was told there would be no math.
      • Annieland
      • 8 days ago
      • 1
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      nolesrule Hey, leave my Beanie Babies alone.  I upgraded my HD and bought a sweet external CD burner AND my first digital camera in 1998 with my Beanie Baby sales. 

      Like 1
      • nolesrule
      • Been waiting 5 years for the Stealing From the Future fix...
      • nolesrule
      • 8 days ago
      • 1
      • Reported - view

      Annieland that's because you didn't hold them so long that the market imploded. 

      Like 1
      • Annieland
      • I was told there would be no math.
      • Annieland
      • 8 days ago
      • 1
      • Reported - view

      nolesrule Well, I'm not mentioning the giant heavy-duty gray tub in the garage :).

      Ok, exaggeration aside.... I finally allowed my third child to take them all out of their ziploc bags, and even remove the tag protectors (this hurt, I hyperventilated a little, but let it go), and he had a blast with them and still does.  Sure, I always had the intention of donating them to a hospital or something, but I think we have laws now about donating plush toys.  So I'm happy enough that at least one kid is finally enjoying them :).

      Like 1
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