CryptoCurrency Support

shaunquinton2
shaunquinton2 Unconfirmed, Member ✭
edited November 2021 in Feature Requests

Is supporting crypto on the product roadmap? In my connected robinhood account Simplifi classifies Ethereum as 'Ethan Allen Interiors Inc.'. It would be nice to see that show up as Ethereum

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  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @shaunquinton2 Currently, Simplifi doesn't support cryptocurrencies like Bitcoin, or any other currency besides US Dollars. I've changed your post to a recommendation, to give other users a chance to vote on it. If we get enough recommendations, we'll revisit our decision. Thanks for suggesting it!

  • macdreidle
    macdreidle Member

    It’s just a matter of time before customers demand it. It would put you in a favorable position and i believe one of the first to incorporate fiat and crypto

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @macdreidle Thanks for your comments! Support for cryptocurrencies is still a long way off for Simplifi, but not for the reasons you might think. At the moment, Simplifi doesn't support any other currencies besides US Dollars, and, with a couple of exceptions, can only link to US banks. You can, of course, manually create accounts in Simplifi, and enter transactions manually, but they will be denominated in $US. I know of one Canadian user who does this, but since all of his accounts are in $CAN, and he doesn't mix currencies, it seems to work for him. I'm sorry for the inconvenience.

  • HSC
    HSC Member ✭✭

    One thing that might be helpful here could be to support accounts at sites which can hold or report on cryptocurrency, like Coinbase or Cointracking.info. I'd actually be ok with just seeing my holdings summed up in USD, which most sites typically show, even if Simplifi can't show me how many of a given token I have.

  • Nick Davis
    Nick Davis Member ✭
    Offline wallet support! Adding manual entries for users who choose to store crypto offline. 
  • Joe
    Joe Member ✭
    Adding my vote too.
  • zhivago
    zhivago Member ✭
    Crypto and foreign currencies in general would be a major enhancement
  • that_guy_jt
    that_guy_jt Member ✭
    Plus one to this. Having support for Coinbase and BlockFi is a great start (although Simplifi does not support Coinbase Pro yet).

    Simplifi needs to add support for actual crypto wallets as well - specifically for Ethereum, the most popular crypto network by transaction volume, and for Ethereum-based tokens.

    Like many people, I have begun to seriously invest in crypto over the last year. Unfortunately, the more involved in crypto I become, the less Simplifi works for me.

    My net worth in Simplifi is no longer accurate since I've begun putting money into crypto over the last year. Also, my crypto purchases are being coded as spending, when they're really investments. I have to go to other websites to get a complete financial picture.

    And of course, given how volatile crypto is, manually entering crypto balances into Simplifi in USD is unrealistic.

    As the above commenters have mentioned, this will only become more important to consumers in the coming years, and adding support for crypto wallets would be a huge competitive advantage for Simplifi in a crowded market.
  • SZR
    SZR Member ✭✭✭
    Can we have a manual account where we list our holding in the native cryptocurrency (BTC, ETH Etc), and simplify show the current value of those in USD updated from some online crypto price source?

    Then we can add or remove crypto in the native amounts (EG 0.0054 BTC etc) and the net worth will update accordingly in USD at current prices, this would work for most people regardless of what account, exchange or wallet (Hot or Cold) they use.
    The downside is users having to update manually as the user's holdings grow.

    But for now, it would be a universal solution, and most people are not having multiple crypto transactions close together if they are used for savings...
  • kellyr
    kellyr Member ✭
    If I could vote for crypto support a million times, I would. At a minimum, it would be great to manually add trades and transfers/deposits vs withdrawals. As of right now, my financial picture becomes quite the mess because much of my money is in crypto. 
  • Cryptoquake
    Cryptoquake Member
    This request is over a year old... and still requested by paying customers :)

    Cryptocurrency support should be here, in some shape, even if it's just Ethereum. In fact, if you just do Ethereum that'd be a huge step.  Start with Eth...
  • Nichole Macdonald
    Nichole Macdonald Member
    Please add other currencies especially CAD so I can see all my bank accounts in one place! This is partly why I got this app. Disappointed it’s not included. 
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello All,

    Just a little update to this request -- we currently support cryptocurrency tracking for accounts connected to Coinbase and Robinhood, however, due to aggregation issues, you won't see a price per share and will instead see the 'Value' of the holding(s).

    When it comes to manually tracking crypto holdings, you should be able to add cryptocurrencies to manual investment accounts in Simplifi and see the price per share data. For Ethereum specifically, the issue with this cryptocurrency being displayed as "Ethan Allen Interiors Inc." should be resolved and this should no longer be occurring.

    Please be sure to stay tuned here for future updates on cryptocurrency tracking in Simplifi! 

    -Coach Natalie
  • zhivago
    zhivago Member ✭
    I have actually stopped using Simplifi because there has been no progress on this issue
  • Bertations
    Bertations Member
    Yes - please do this yesterday. 

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