What is the difference between Synced and Manual Integrations?

Synced Integrations

  • Exchange Integrations fetch data from exchanges mostly via API key.
     
    By entering an API key and corresponding secret, asset balance and transaction data can be automatically imported directly from the Exchange. There is also the option of a direct CSV upload for some Exchange integrations.

     

  • Wallet Integrations fetch data from the blockchain using a public key.
     
    The base layer of a Wallet Integration is always a blockchain like Bitcoin, Ethereum, Solana or others. By entering the public key of your Blockchain-Wallets or Multi-Wallet product like MetaMask, Ledger, Trezor, Exodus, etc. your transactions will be imported automatically.

In Exchange and Wallet Integrations, transactions and asset balances are directly read and synchronized from the source. Transactions and balances are updated within a few minutes to hours, and live price data is refreshed every 7 minutes.

Transactions can also be created manually in Exchange and Wallet Integrations, or uploaded collectively into your integration via an Excel Template.

> Guides to all Exchange and Wallet integrations

> How to create, synchronize, edit, group, convert or remove an integration?

 

Manual Integrations

In manual integration, all data must be entered or uploaded manually.

New transactions can be added either individually or collectively via Excel tempalte. When creating transactions directly in the WebApp, please note to use your set local time and for Excel imported transactions the exchange time UTC.

Manual Integrations can be subsequently converted to Synced Exchange or Wallet Integrations.

> How to convert a Manual Integration into a Synced Exchange/Wallet Integration?

 

How does the calculation of the asset balance differ between Synced and Manual Integrations?

What is the difference between Synced Balance and Calculated Balance?

The asset balance of your Exchange or Wallet Integration is taken directly from the exchange or wallet and is therefore referred to as a so-called Synced Balance.

In contrast, the asset balance of your tax report or the one in the Tax Optimization Feature is exclusively calculated on the basis of your transactions and therefore referred to as so-called Calculated Balance.

If the synced and calculated balance match, the quantity of your assets within an integration is simply referred to as the Balance.

Synced vs Calculated Balance.png

 

The asset balance of your Manual Integrations, on the other hand, is also referred to as Balance, as it is calculated purely on the basis of your transactions and there is no connection via API key or public key.

This also means that "Mismatched Balance" Tips can only be displayed for Exchange or Wallet integrations, but not for Manual integrations.

 

> More information about the Blockpit dashboard in full detail

> More information on how to solve Missmatched Balance Tips and reconcile balances

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