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

123457»

Comments

  • curtkj
    curtkj Member
    Eric Dunn's September 22, 2022 email appears to be very misleading and overstates the capabilities of the program when it comes to "including support for Crypto". I find the use of this low level "sales tactic" very disappointing. If I'm wrong, I apologize, and hope someone can advise me how to set up a portfolio and linked Q cash account for handling Crypto. Like all the other equites in my portfolios the program should also have the capability to update the price of the Crypto assets. I haven't been able to figure it out.
  • Laird B
    Laird B Member ✭✭
    > @curtkj said:
    > Eric Dunn's September 22, 2022 email appears to be very misleading and overstates the capabilities of the program when it comes to "including support for Crypto". I find the use of this low level "sales tactic" very disappointing.

    Concur. The claim of including support for Crypto seems to rest on adding a security type and an asset class called "Crypto". (Which, since you can create your own security types and asset classes, most of us have likely already done.)

    If there are other changes, Mr. Dunn et al. should make them clearer. Notably, there does not appear to have been an expansion in decimal places tracked, nor are there new pricing data feeds from live exchanges. (More on both of these in a moment, though.)

    > @curtkj said:
    > Like all the other equites in my portfolios the program should also have the capability to update the price of the Crypto assets. I haven't been able to figure it out.

    BTC and ETH pricing (though not updated 24x7, and sometimes with no updates for a day or two) are available within Quicken via some index symbols, e.g. INDEX:BTC1RP and INDEX:NQETH. Of the top 10 cryptos by market cap, I find 7 are available via some sort of INDEX:_____ quotes (mostly CBOE indexes); the remaining three are (supposedly) stablecoins pegged at $1.

    To the decimal places thing: I believe it was in one of the threads that has been moderated away, but it has been pointed out by someone else that although it may annoy the fastidious that you can't track beyond 6 places, that's rarely material. At $20,000 per BTC, the 6th decimal place represents $0.02 -- relatively trivial in aggregate portfolio viewing terms.

    So, transaction entry is still manual (or janky spreadsheet transliteration), which would be prohibitive for active traders -- but quotes can be updated via some of the indexes, and holdings can be tracked with adequate, though not perfect, precision.
  • steven.kerns
    steven.kerns Member ✭✭
    > If there are other changes, Mr. Dunn et al. should make them clearer. Notably, there does not appear to have been an expansion in decimal places tracked, nor are there new pricing data feeds from live exchanges. (More on both of these in a moment, though.)

    Quicken did add access to a couple of exchanges, including ftx.us, albeit incorrectly. They correctly use the "API KEY" and "API SECRET" but the field lengths are only 32 characters when they need to be 40 characters. I contacted Quicken support about this twice, but they both blew me off. Quicken support blames FTX, but FTX says 40 characters is the documented standard for API connections.

    I opened a discussion here: https://community.quicken.com/discussion/7921334/ftx-api-not-working-for-quicken


    > To the decimal places thing: I believe it was in one of the threads that has been moderated away, but it has been pointed out by someone else that although it may annoy the fastidious that you can't track beyond 6 places....

    Quicken did add the option for 8 decimals. It's under Preferences > Investments > Extend share precision.
  • Quicknator
    Quicknator Member ✭✭
    > @Roger Miller said:
    > I don't really care who owns my keys. I can access the money, and transfer to my bank account instantly, so I am good with that. Of more concern, I wish I could track what I own in Quicken.I have added the security CME CF Bitcoin Cash-Dollar Real Time to my security list.However, the downloaded price is always $0 :-(

    Here's one example why I mentioned that to you, Roger, with good intentions:

    "...According to proponents of the “not your keys” philosophy, a wallet on a centralized exchange does not truly belong to the account-holder. When withdrawals are paused, as they were by FTX in November, users lose access to their crypto. And if the worst happens, whether it’s the collapse of an exchange or a cyber-attack, those holdings could be lost altogether.

    There is even legal support for “not your keys” In 2020, the verdict of California court case Archer v. Coinbase, concerning the 2017 Bitcoin fork, found that the exchange had no obligation to pay out Bitcoin Gold that could have been generated by a user’s Bitcoin holdings."

    Source: https://decrypt.co/resources/coins-keys-wallet

    I totally agree we need to be able to track our crypto via Quicken so we don't have to go elsewhere for these services. Does anyone know if Simplifi has crypto functionality? If so, what?
  • TZQuick
    TZQuick Member ✭✭
    @Quicknator - try using INDEX:NYXBT as the ticker for Bitcoin
    Quicken user since 1993