[GNC] Crypto trade directly - not converting to local currency first

[Suseno Dermawan]

Hi Mattia,

Thank you for the explanation.

just a couple question,
in this example:

Assets:BTC              -123    33,123.00                   4,074,129
Assets:ETH               456     8,934.38       4,074,079
Expenses:CryptoFees                                    50
Trading:Crypto:BTC    ......
Trading:Crypto:ETH    ......

is the value is in local currency (e.g. USD)? and expenses also in local
currency ?
because the trading place it charges the expenses in the crypto currency,
for example.
if trade BTC to ETH, then the expenses is in ETH,
if trade from ETH to BTC, the expenses is in BTC.

if this is the case, then the expenses is converted to local currency ?

Thank you

Suseno


On Sat, May 21, 2022 at 11:49 PM Mattia Rizzolo <mattia at mapreri.org> wrote:

> Nothing particularly odd about that.  You'll have to do something like:
>
>
>                        tot shares   price       tot buy   tot sell
> Assets:BTC              -123
> Assets:ETH               456
> Trading:Crypto:BTC       123
> Trading:Crypto:ETH      -456
>
> (the Trading: splits should be created automatically, but regardless,
> that's how it'll look).
>
> leave empty the 3 columns on the right, just touch the first column
> labeled "tot shares"; that column is visible only for "Stock" or "Mutual
> fund" kind of accounts, which is what I already expect your accounts to
> be like.
>
> Then again, it might make sense to give value to those shares.  If so,
> you could do this:
>
> Assets:BTC              -123    33,123.00                   4,074,129
> Assets:ETH               456     8,934.49       4,074,129
> Trading:Crypto:BTC    ......
> Trading:Crypto:ETH    ......
>
> (I made up the values of BTC and ETH here…)
>
>
> This will also make possible to track the relevant fees in doing such
> transaction:
>
> Assets:BTC              -123    33,123.00                   4,074,129
> Assets:ETH               456     8,934.38       4,074,079
> Expenses:CryptoFees                                    50
> Trading:Crypto:BTC    ......
> Trading:Crypto:ETH    ......
>
> That most likely make a lot of sense.
>
>
>
> That's something very commonly done when, for example, mutual funds are
> merged into each other, redefined, or something else.  Or when you
> instruct your asset management company to switch your investments from
> one fund to another without cashing out in-between.
> Something similar is also done when there are stock splitoffs (but it's
> not exactly the same).
>
>
> BTW, it's not possible to "add btc as a currency type", as the currency
> types in gnucash are hardcoded and only formal currencies as to defined
> by ISO 4217.
>
>
> On Fri, May 20, 2022 at 07:10:22AM +0700, Suseno Dermawan wrote:
> > Hi All,
> >
> > I've been wondering, is there a way to trade between 1 crypto token to
> > another directly?
> > My use case as follows:
> >
> > Ideally able to trade "btc -> eth" vice versa.
> >
> > But for now, I use the registering method as follows:
> >
> > "btc -> local currency -> eth" vice versa
> > Btc sell to local currency, then from local currency buy eth.
> >
> > Btw, I use crypto type as FUND.
> >
> > With using "btc - local currency - eth" way of registering the
> transaction,
> > I found that the loss n gain report is not really accurate.
> >
> > Is it possible to have btc to eth directly? I imagine this will need to
> add
> > both btc n eth as a currency type?
> >
> > Thanks for your help
> >
> > Suseno
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> --
> regards,
>                         Mattia Rizzolo
>
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