Using KMyMoney to document bitcoin purchases in Coinbase

Discussion in 'General' started by exceptionso, May 8, 2025.

  1. exceptionso

    exceptionso Well-Known Member

    Looking for a generous soul to help me with a problem I'm having. I use KMyMoney to document and track my bank checking account, my credit cards and my investment brokerage account, and have had almost no issues doing this for the past three years.

    Now, just to deep my toes on crypto currencies (better late than never, right?), I have just opened a Coinbase account, transferred a small amount of money to it from my checking account, and purchase a tiny amount of Bitcoin. I know I can add BTC to KMyMoney as a second currency, as I already have US dollars as my base KMyMoney currency, but… What type of account do I create in KMyMoney to document and track my Coinbase activity? If I create an investment/brokerage account, and its associated cash account, by doing this I could document the bank checking account cash transfer to Coinbase, but then, this newly created Coinbase investment/brokerage account only lets me invest my transferred USD in either Stocks, Mutual Funds or Bonds, so, it appears the investment/brokerage account route is not the correct way to do this. What then? An asset account, a savings account, a cash account? If any of these, can I mix two different types of currencies in the same account (USD and BTC)?

    Any and all help would be greatly appreciated.

    Thanks

    P.S. The official KMyMoney user's manual contains zero mention of BTC or of any crypto currencies or associated issues, which I find puzzling.
     
  2. Viwestyna

    Viwestyna Well-Known Member

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  3. LoganMcdaniel

    LoganMcdaniel Well-Known Member

    I had a similar moment getting into crypto last year—used KMyMoney too and ran into that same account-type wall. What worked for me was setting up Coinbase as a separate asset account in BTC (not investment/brokerage), and then tracking USD transfers in a split transaction. Mixing currencies in one account didn’t play nice, so I kept them separate. Also, this https://www.moontrader.com/blog/crypto-screener-volatility-tracker-for-scalping helped me tons when I started scalping—super intuitive tool!
     
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    Fender Well-Known Member

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