What is the difference between Synced- and Unsynced Depots?

Synced Depots

  • Exchange Depots fetch data from exchanges via API key.

    For Depots that are connected to an exchange via API, you only have to enter your API key and the matching secret to automate your data import.


  • Wallet Depots fetch data from the blockchain using a public key.

    The base layer of a Wallet Depot is always a blockchain like Bitcoin, Ethereum, BNB Smart Chain 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.

On both Exchange and Wallet Depots, transactions and balances are read and synchronized directly from the source without you having to do anything. Transactions and balances are updated every few hours and price feeds every 7 minutes.

Hint: Transactions can also be created manually in Exchange and Wallet Depots, or uploaded collectively via an Excel Template.


Unsynced Depots

In manual Unsynced Depots, you have to enter and edit all data yourself.

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


How does the calculation of the asset balance differ between Synced- and Unsynced Depots?

The asset balance of your Exchange or Wallet Depot is taken directly from the exchange or wallet. 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.

Hint: A comparison of your Exchange and Wallet Depot balances with those of the Tax Optimization Feature is, in addition to the warning and error display implemented in Blockpit, a useful tool to detect possible deviations in your transaction history.

In Unsynced Depots, asset balances are also displayed and calculated exclusively on the basis of your transactions.

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