Robinhood Crypto Account Download
Quicken for Mac downloads (sorta) but the price data is horribly wrong. Tried deleting the account and adding it again after going through all verification & sign-in process. Still gets the same wrong price data. To give a more clear picture, the price should be about $97,000 per share but it shows $43.09 per share, basically wiping out all my investment. Where did that number come from? Totally irrelevant. Please let me know what's going on. Thanks.
Best Answer
-
I don't know how this is ever going to get resolved. Bitcoin is a currency, not an investment like a stock or bond, and people make money off Bitcoin due to changes in the exchange rate. That's not something Quicken is really set up to handle. Robinhood would have to start treating a bitcoin investment as a cash account holding the bitcoin currency (like an account in Canadian dollars or Mexican Pesos) and Quicken would have to add a Bitcoin currency. But then you'd lose any ability to get investment reports or see gains or losses, you'd just have a cash account balance getting converted to dollars.
1
Answers
-
Hello @Kevin Cho,
To assist with this issue, please clarify what exactly is incorrect. Is Quicken seeing an incorrect cost basis? Is it the market value that is wrong? If possible, posting a screenshot (with personal information redacted) will help. If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.
I look forward to your response!
Quicken Kristina
Make sure to sign up for the email digest to see a round up of your top posts.
0 -
Kristina,
Please review the attached. Hope you can help. BTC price as of today 7:30AM is about $96.696 not $43.09. A huge difference.
0 -
@Kevin Cho The problem is with the security symbol "BTC". That's the stock symbol for Greyscale Bitcoin Mini Trust ETF, not the bitcoin currency, which is why the price is different. I don't know how you're going to be able to fix that other than disconnecting your Robinhood account and managing it manually. INDEX:NQBT seems to work for most folks as the price for Bitcoin but you'd have to make your own custom security linked to that price and have your Robinhood account in Quicken use that instead of BTC (see this thread).
1 -
Doesn't make a difference. Not one bit. See attached.
0 -
Something isn't right there because Quicken is showing me the value of INDEX:NQBT is 97299.28 right now. And your list of holdings still shows that the price of Bitcoin is 43.09 so it's still using the price of BTC, but I don't know why.
0 -
I tried setting up a Bitcoin investment tied to the index and added .26 shares of it to an account and it worked as expected:
1 -
One thing to check is go into your Securities window and check the price history of your Bitcoin security. Make sure it looks like this and doesn't have an entry setting the price to 43.09.
1 -
Didn't do anything except hitting Reload arrow icon and voila the price upadated itself. And then I checked the price history as you suggested and it shows as the screen capture attached. It's absolutely baffling. I'm afraid it's going to go back to the false price when I update all my accounts again tomorrow. Will see and let you know. For now, problem resolved. Your follow-up responses did help me a lot nevertheless. Thank you 🙏
0 -
Attachment here..
0 -
If you leave this Quicken account connected to Robinhood then yes it will probably get messed up the next time you update since Quicken will try to put it back to what Robinhood is sending. This really only works if you disconnect the account and manage it by hand.
As for your price history, it looks like you ended up with a mix of old & new data but as long as the closing prices are correct the rest doesn't really matter that much. The 11/28 value is the only one that looks strange since it doesn't correlate with either the old values or the new ones. The index doesn't have a value for that day, so I don't know where that came from; I'd delete it.
1 -
Thank Jon for the advice. I've disconnected this account. So, eventually is Robinhood going to fix this issue somehow? If I understood you correctly, this has to be reconciled by Robinhood data, correct? Quicken is not the one causing the "misguided" index download, right?
0 -
I don't know how this is ever going to get resolved. Bitcoin is a currency, not an investment like a stock or bond, and people make money off Bitcoin due to changes in the exchange rate. That's not something Quicken is really set up to handle. Robinhood would have to start treating a bitcoin investment as a cash account holding the bitcoin currency (like an account in Canadian dollars or Mexican Pesos) and Quicken would have to add a Bitcoin currency. But then you'd lose any ability to get investment reports or see gains or losses, you'd just have a cash account balance getting converted to dollars.
1 -
Understood. Appreciate it very much!
0
