The transaction type Trade is used to record the exchange of outgoing Asset A for incoming
Asset B. Trade transactions also happen in various DeFi (Decentralized Finance) applications and are referred to there as Swaps (not to be confused with token swaps).
How do I create a Trade?
- Open your Blockpit Account and click the top menu item on Create New.
- Now select Add Transaction.
- Now choose the appropriate Depot and the transaction type Trade.
- Enter the date and time of the transaction and confirm with Continue.
In case of a manually created transaction directly in the WebApp, use your local time.
If the transaction is imported via CSV/Excel, use the standard exchange time UTC.
- Now enter the quantity and currency for the outgoing and incoming assets. If you paid fees for the trade, enter them with quantity and currency as well.
Tip: In the input fields for the currencies, you can enter the short name (BTC) or long name (Bitcoin) as a search term to narrow down the search of the displayed list. If your asset is not selectable, you can get more information here.
- Finally, click Create to complete the process and display the transaction in the Depot.
Note: If a Trade is created as a manual transaction in an Unsynced Depot, it will have a direct impact on the displayed asset balance of your depot.
If a Trade in an Exchange or Wallet Depot is created as a manual transaction, it will not directly affect the automatically and independently imported asset balance of your depot, but it will affect the final balance of your tax report.
How are fees considered on a Trade?
Example: A trade of 1000 EURO to 0.01 BTC with 0.0001 BTC fee.
Fees can be recorded either in the incoming or in the outgoing asset.
Fees, if paid in incoming or outgoing assets, will be considered as follows:
- If fees are paid in the outgoing asset:
"The fee is treated as a separate outflow."
Outgoing Amount: Net transaction amount (amount excluding fees)
Fee Amount: Enter fee amount extra
If fees are paid in the incoming asset:
Case1: No additional fee on the deposit side.
Incoming Amount: Net transaction amount (amount excluding fees)
Fees Amount: Enter nothing or 0
Case2: Additional fee on the deposit side.
"If the fee is paid in the incoming currency, the input must be increased by the amount of the fee. The fee will be treated as a separate outflow."
Incoming Amount: Net transaction amount (amount excluding fees) + fee amount
Fee Amount: Enter fee amount as well