Improving Data Integrity
While data integrity can never be guaranteed, there are ways to search for errors based on some logical assumptions. We outline the functions we have put in our application below.
Unlinked trades are only really relevant for those who want to estimate Capital Gains using our app. Read here on how those calculations are made. However, running linking can also be a good way to isolate any unaccounted for trades (assuming you haven’t been short-selling).
We recommend reading this to get a better understanding of what they are and why they highlight issues with data.
Negative Balance Checks
For the majority of people who buy and sell cryptocurrency it should be impossible for them to have negative cryptocurrency. The only instance we are aware of where a balance should legitimately be negative is when a trader is margin selling – short selling specifically. For everyone else your cryptocurrency balances should always be positive.
From the main dashboard table summary you can click the asset code to view a running list of all transactions that took place for that asset. Towards the top of the page there is a “Negative Balance” check which will either be red or green.
If it is green then no negative balances were found which is a good sign! If it is red, however, you have some work to do. Start by scrolling through all transactions and search for the rows highlighted in red (see image below).
You may be able to identify which exchange the issue starts on and you can backtrack from there (look at withdrawal/deposit history if need be). Check that all rows uploaded in the History page. If you need a hand one of our assistants can quickly take a look and investigate – just contact us and ask.
If you are able to find the issue and resolve it – as with all changes to trades – it is best to re-run linking if you are working with our Capital Gains figures.
Zero Value Trades
Trades that have a zero dollar/cent value are considered Zero Value Trades. Most trades should have a dollar value. The app will calculate AUD values to 8 decimal places so the above example has to round the value to zero from 8 decimal places which happens very rarely. Therefore if you see trades with zero values you should view the Zero Value Trades page and check. For each trade you can click the “View” button. Scroll to the bottom of the “Edit Trade” page you are taken to and click “Force Cryptocurrency Conversion”. This will attempt to use our data suppliers to calculate a dollar value. If it fails to result in a change and you believe it should have a value of > $0.00 you should use coinmarketcap or similar appropriate historical pricing to fill in the AUD value.
In some rare circumstances this can be OK. For example, on certain exchanges it is possible for a trade to show as a very small amount of “Asset X” (could be any asset) for 0 BTC. However, when this happens the app will try and retrieve a price for 0 BTC (obviously $0) and the very small amount of Asset X. The latter will likely round down to $0 too – hence the trade will have a value of $0.