Track Bitcoin (BTC) and other Cryptocurrency accounts in Quicken (45 Legacy Votes, 9 Merged)

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Comments

  • Parkd2
    Parkd2 Member ✭✭
    This is now essential
  • TZQuick
    TZQuick Member ✭✭
    Hi Quicken, do you have an ETA on when we will have an ETA for this feature? Seems this has been on the development map for a year or more. Having an idea of the ETA would help your community plan for the future :smile:
    Quicken user since 1993
  • Robert Lynch
    Robert Lynch Member ✭✭
    Hi - what is everyone doing to enter in prices for crypto investments. I understand I will have to enter in manually, and that is fine - most likely will do a monthly update. But what time price is everyone choosing to use as the valuation price?
  • ALTom
    ALTom Member
    I use INDEX:DOGEUSD10000 to track Dogecoin and INDEX:NQBT to track Bitcoin in Quicken. I know it's not exact but close enough to just include in the auto update with all of my other securities. Hope that helps.
  • Robert Lynch
    Robert Lynch Member ✭✭
    > @ALTom said:
    > I use INDEX:DOGEUSD10000 to track Dogecoin and INDEX:NQBT to track Bitcoin in Quicken. I know it's not exact but close enough to just include in the auto update with all of my other securities. Hope that helps.

    Thanks, I do not see how to add that as a pricing source?
  • ALTom
    ALTom Member
    Go to the Investing tab, then look for watchlist. Click Add and type in the symbol you want (such as INDEX:NQBT) and it'll populate. (I use PayPal Crypto so I built an investment account under Investing. Then I entered a Buy order for Bitcoin manually with the ticker symbol. That way it shows in my Investment register with my other holdings and updates the price any time I run the Update. I did the same with Dogecoin held with Kraken). Hope that helps. ***but yes I agree with the others that Quicken is long overdue for crypto tracking. As subscription paying customers, Quicken needs to listen to our requests please****
  • Just Me and Not Someone Else
    Just Me and Not Someone Else Member ✭✭✭✭
    edited February 7
    Quicken needs to expedite supporting Crypto currencies or risk loosing their competive advantage as the leader in comprehensive personal financial planning software.  
  • psm
    psm Member ✭✭
    Agr> @"Just Me and Not Someone Else" said:
    > Quicken needs to expedite supporting Crypto currencies or risk loosing their competive advantage as the leader in comprehensive personal financial planning software.  

    Agreed — and as you’re now supporting crypto in Simplifi by Quicken you should be able to give some type of timeframe for Quicken.

    We’ve got renters asking if they can pay in crypto :-).
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    psm said:
    We’ve got renters asking if they can pay in crypto :-).
    And there in a nutshell I think is one of the biggest problems with Quicken supporting cryptocurrencies.

    They are called "currencies", but for the most part isn't being treated as currencies, they are being treated as "securities".

    Have your renters asked to pay in shares of IBM?
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  • Brian Leonard
    Brian Leonard Member ✭✭
    > @Chris_QPW said:
    > And there in a nutshell I think is one of the biggest problems with Quicken supporting cryptocurrencies.
    >
    > They are called "currencies", but for the most part isn't being treated as currencies, they are being treated as "securities".
    >
    > Have your renters asked to pay in shares of IBM?

    No, because IBM is not a currency. And you can invest in any currency, fiat or crypto.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    edited February 7
    > @Chris_QPW said:
    > And there in a nutshell I think is one of the biggest problems with Quicken supporting cryptocurrencies.
    >
    > They are called "currencies", but for the most part isn't being treated as currencies, they are being treated as "securities".
    >
    > Have your renters asked to pay in shares of IBM?

    No, because IBM is not a currency. And you can invest in any currency, fiat or crypto.
    I think you missed the point.  To most financial institutions (and governments for that matter), and I'm sure for whatever implementation Quicken comes up with, cryptocurrencies are going to be treated as securities.  As such there isn't any way that you will be able to enter that someone paid their rent with one of them.

    Just think of the real mess this would be if Quicken actually treated these as currencies.  You can only have one currency per account.
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  • Vaesse
    Vaesse Member
    I'm currently using multiple currencies in my Quicken account. It's not default, but it's not too hard to configure.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Vaesse said:
    I'm currently using multiple currencies in my Quicken account. It's not default, but it's not too hard to configure.
    You aren't using multiple currencies in a Quicken account, you are using multiple currencies in a data file.  There is a big difference.
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  • Parkd2
    Parkd2 Member ✭✭
    I don't think most folks are looking for Quicken to support Crypot as a currency until Quicken can support multi-currency like Euros or Pounds, etc. What we need is to (1) update values like equities and (2) track capital gains as the coins are sold or used for purchases, trades, etc. No different than if I buy a car with IBM stock, I sell IBM and transfer the proceeds to my checking account and record the dealer's draft of my account. All of that will be posted automatically by the update (assuming Quicken will also support crypto wallets like they do banks).
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Parkd2 said:
    I don't think most folks are looking for Quicken to support Crypot as a currency until Quicken can support multi-currency like Euros or Pounds, etc. What we need is to (1) update values like equities and (2) track capital gains as the coins are sold or used for purchases, trades, etc. No different than if I buy a car with IBM stock, I sell IBM and transfer the proceeds to my checking account and record the dealer's draft of my account. All of that will be posted automatically by the update (assuming Quicken will also support crypto wallets like they do banks).
    I agree that is how it will be supported, as a security.  BTW Quicken does support currencies like Euro or Pounds.  You can't download transactions for them, but they are supported (The Windows Canadian version can actually import QFX files with different currencies, just not the US version).  Quicken downloads the exchange rates for these (only the current exchange rate for Quicken Windows US, Quicken Windows Canadian records the history), which is a completely different download that it has for securities.  And even now you can download some cryptocurrency prices that way (as a security).

    The only point I was making is that here you have people wanting to pay in cryptocurrencies, which implies they want them to be treated as a currency, not a security, but most of the world aren't doing that.

    Right now, I think the first stumbling blocks are getting the third-party quote server to support all the different cryptocurrencies (which will be on ongoing problem for new ones), increasing the number of digits of accuracy/digits displayed (this is going to be hard), and then finally the actual support of downloading the transactions (in an investment account).
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  • Parkd2
    Parkd2 Member ✭✭
    If someone pays me with a check I have to deposit that into a bank and it is now available to me to spend. If quicken supported crypto wallets the way they support banks then the renter pays by bitcoin to your wallet which now makes it available for you to spend. The wallet downloads the # of bitcoin into your Quicken account with the value assigned to that transaction in dollars. the coins are basically treated as a security. No different than me transferring 100 shares of IBM from Ameritrade to Fidelity. There is a bit of an issue with determining the value of the bitcoins because there are many exchanges but the difference isn't much different than the hourly variation in price so just pick one! The value of the coin at time of receipt, purchase or sale is set by the wallet ... ("broker?" )
  • Parkd2
    Parkd2 Member ✭✭
    edited February 7
    BTW, MarketXLS, an Excel add-on now supplies hundreds of price quotes for all? many coins at many different exchanges around the world so the information is out there. This is a subscription service which I use (but I am NOT associated with them!)
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    The main difference is that you don't usually conduct your rental transactions in an investment account.  I don't use Home and Business, but given the invoices, and rental tie ins and such, I'm sure you can't just use the investment account for these.

    Sure, people could pay one in any security, it just isn't something that is normally in one's "workflow".

    Like I said before, who allows their renters to pay in IBM shares?
    Can it be done, certainly.  Is it a normal workflow easily supported in the existing Quicken structure?  No.

    In reality I don't think this is as much a "Quicken question", because when they finally get this implemented it will be as a security and in an investment account.  But people thinking about accepting them as payments will have to consider the extra work involved and things like what would be the process for returning money.
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  • psm
    psm Member ✭✭
    Agreed when they do it, it will be as a security in an investment account, which is all I’m looking for.

    I should have been more specific, my renter wants to pay in USDC stablecoin instead of via ACH. I wouldn’t accept payment in BTC/ETH/IBM :-).

    Cheers
  • Czechmate
    Czechmate Member ✭✭
    If you just want to track value, I have created a website (currently behind my firewall), that will download a csv file with the top 400 crypto currencies and their prices along with their milliprices (i.e. a price for 1/1000th of a coin (Helps with the higher priced assets). I could make that service available to others if there is enough interest. You might have to change your security name to match mine... but you can update your prices easily by importing the file via the Quicken File-> File import-> Import Security prices from CSV
  • +1 for Crypto symbol price tracking and for linking to Coinbase (Quicken for Mac).
  • eltorr0
    eltorr0 Member
    +1 for tracking binance US cryptos
  • FalconRise
    FalconRise Member
    Need this ASAP. Almost a 2 Trillion sector.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    psm said:
    Agreed when they do it, it will be as a security in an investment account, which is all I’m looking for.

    I should have been more specific, my renter wants to pay in USDC stablecoin instead of via ACH. I wouldn’t accept payment in BTC/ETH/IBM :-).

    Cheers
    I wonder how you feel about your renters paying in stablecoin now?
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  • jtemplin
    jtemplin Member ✭✭✭✭
    Need this ASAP. Almost a 2 Trillion sector.
    Not anymore.
  • Roger Miller
    Roger Miller Member ✭✭✭
    @ALTom said:
    "Go to the Investing tab, then look for watchlist. Click Add and type in the symbol you want (such as INDEX:NQBT) and it'll populate. (I use PayPal Crypto so I built an investment account under Investing. Then I entered a Buy order for Bitcoin manually with the ticker symbol. That way it shows in my Investment register with my other holdings and updates the price any time I run the Update."

    I own Bitcoin Cash (BCH).
    Where can I find the appropriate Index symbol for Bitcoin Cash?
    I have had to check the price manually each day through my PayPal account, and then enter it in Quicken into the price history of a fake symbol that I created.

    Also, I see in today's mass email from Eric Dunn, the CEO of Quicken (Bold emphasis added by me):
    "In addition, we have made a number of enhancements to investments, including support for Crypto, RSUs* (restricted stock units), and Investment Partnerships*, plus added flexibility in the investment register with the option to hide columns and to show symbols along with security names."
    I see the support for RSUs was added, but I don't see any support for Crypto has been added? Is he that out of touch with what's going on?

    QWin Premier user since 1997. QWin Premier subscription on Windows 10 & 11. I don't use mobile & web or bill pay.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    @ALTom said:
    "Go to the Investing tab, then look for watchlist. Click Add and type in the symbol you want (such as INDEX:NQBT) and it'll populate. (I use PayPal Crypto so I built an investment account under Investing. Then I entered a Buy order for Bitcoin manually with the ticker symbol. That way it shows in my Investment register with my other holdings and updates the price any time I run the Update."

    I own Bitcoin Cash (BCH).
    Where can I find the appropriate Index symbol for Bitcoin Cash?
    I have had to check the price manually each day through my PayPal account, and then enter it in Quicken into the price history of a fake symbol that I created.

    Also, I see in today's mass email from Eric Dunn, the CEO of Quicken (Bold emphasis added by me):
    "In addition, we have made a number of enhancements to investments, including support for Crypto, RSUs* (restricted stock units), and Investment Partnerships*, plus added flexibility in the investment register with the option to hide columns and to show symbols along with security names."
    I see the support for RSUs was added, but I don't see any support for Crypto has been added? Is he that out of touch with what's going on?


    In QWin R43.32, there is a Security Type of Crypto and also a Crypto Asset Class.

    Holdings are still limited to 6 decimal places. 

    If I enter Bitcoin in the search box for adding a new security, there are a bunch of matches, mostly Bitcoin ETFs but a few indexes including NQBT
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