there’s an option to turn it off, but it ignores that when it comes to cost basis. it still treats wallet balances separately. so I can’t correct ANY cost-basis errors until i import deposit/withdrawl data for every account, and I don’t have data for all of them, meaning i would have to manually guess for some of them.
all for a feature I have no need or use for.
does anyone know a way around this? thanks
Hi, Koinly is designed to help you fix errors on a per-wallet basis only. If you disable wallet-based cost tracking then Koinly uses the universal pool to calculate your costs but errors are still displayed for each wallet separately. We have found this to be the most helpful approach in most cases, the only exception would be exchanges where you lack the deposit/withdrawal history. In these cases we recommend importing the trades from exchanges where you are missing deposits/withdrawals into the same wallet. This allows you to create separate wallets for exchanges where you do have proper history.
doesn’t it become confusing af to have all those transactions in 1 wallet? it would have many small exchanges over several years
and if wallet based tracking isn’t required & nobody needs it, why force it on everyone? why can’t we just turn it off?
Cost tracking is a separate feature, it has nothing to do with the issue that you are facing. If you have disabled wallet-based cost tracking then Koinly will track your assets in a universal pool per cryptocurrency. However, if you are missing deposits in a wallet then you will still see the same warnings since our error detection works by calculating balances on a per-wallet basis and highlighting transactions that result in a negative balance for a wallet. These warnings can be ignored if you are using universal cost tracking as even though you might be missing history in one wallet Koinly will use assets from a different wallet (if it has any) to figure out your costs.
As for the confusion, most new exchanges provide full history so if this has to do with older exchanges then it wouldn’t matter much if you put them all in the same wallet.
Ok so the question remians, which one would we use?? Does it matter?? What would the CRA say?