Tracking of Crypto Wallets
New Feature in Spendee: Tracking of Crypto Wallets 🚀
As you already know, the biggest advantage of Spendee is the ability to see all of your money in one place. ✅ Up until now, that included your cash in manual wallets & your other regular finances spread across your bank accounts, automatically tracked and categorized for you. 🏦
We decided to take it into the next step and introduce tracking of crypto (blockchain) wallets ⛓
What is the Crypto Wallet feature? 👛
A crypto wallet will enable you to see your transactions from the blockchain as soon as they happen. It is one of the 4 types of Spendee wallets. These include: manual wallets (eg. cash), bank account wallets (eg. your checking account), e-wallets (eg. PayPal) and the newest addition is the crypto wallet connected via the crypto address.
How to Add a Crypto Wallet to Spendee? 🚀
Make sure that you’re using version 5.2.0 or higher. Open your mobile app and go to the Wallets selection. Under the list of your wallets, tap the grey button that says “Add a Crypto Wallet”. Write the name of your new wallet, select its blockchain and insert the address of your wallet. When all important info is specified, you can tap on the button down below to Add a Wallet. Well done!
Check out this video tutorial 🎥:
Frequently Asked Questions 💬
I don’t see the new feature in my app 😮
Make sure you have Spendee version 5.2.0 or higher. If this version is not available to you in the App Store or Play Store, it will become available in the upcoming days.
It takes a long time to add my crypto wallet ⏰
It’s normal that this process takes some time, be patient.
How many transactions will be imported into my crypto wallet? 👀
After Adding your Crypto Wallet, the last 100 transactions from the blockchain will be imported. After that, as long as you have your subscription running (or you own a Spendee NFT) each new transaction will be shown inside the app within seconds.
What is the difference between Crypto Wallets and Coinbase or Binance? 🤷🏼
Popular crypto-exchanges Coinbase or Binance are considered e-Wallets within the Spendee app since they are online platforms for buying, and exchanging crypto but not for a long-term safe storing or keeping it. Crypto wallet tracking allows you to track any wallet address directly from the blockchain, all you need to know is the address of the wallet. Nothing else is needed.
How will the sync work in Crypto Wallets? 🔄
There won't be a sync, since we will be able to read the public blockchain data as soon as they happen and showcase them inside the app almost immediately.
I can only see an Ethereum blockchain, why? ⛓
As for now, we have only Ethereum blockchain available - but we plan on broadening the selection with Bitcoin being the next one! And more blockchain coming right after that.
How does the categorization work with Crypto Wallets? 🥐
The transactions inside the Crypto Wallets won't be categorized by default, and there won't be any learning engine associated with them. You can, however, change the category of each transaction manually!
How do transfers work with Crypto Wallets? 🔀
One-way transfers “Out of Spendee” are available. It's not possible to do two-way transfers yet (eg. connecting opposite transactions in different wallets).
How does currency work with Crypto Wallets? 🌎
The ever-changing exchange rates are updated to Spendee daily.The way your cryptocurrency is calculated into your main currency works essentially the same way as between other world currencies, since we believe that's where crypto belongs. If there is an exchange rate between two currencies that we are not able to receive, we use USD as the intermediary, like: BTC>USD>AUD.
How many Crypto Wallets can I have connected to Spendee? 🎯
Crypto Wallets are a Premium feature, as well as their unlimited amount.
Do I need to verify the ownership to connect? 🔐
No, all you need is the address of your crypto wallet. You don't need to prove the ownership, as the data are public.
How is the amount of the transaction determined? 💎
The amount of the transaction is made of the value of the transaction and includes the fees associated with it.