Bitcoin and Ethereum insights allow you to view the performance of your purchases.
Within insights you have access to the following insights for your overall purchases in Shakepay:
Unrealized gains or losses
Original cost
Average price
Current value
How to view crypto insights in the app
On the Shakepay app home screen select the wallet you would like to view insights for (Bitcoin or Ethereum)
Select the insights icon
An insights overview will be present, optionally scroll down to select and view credits or debits more granularly
The insights are based on your current Shakepay balance and not on crypto that has been withdrawn or sold.
What is the difference between original cost and average price?
Original cost is the amount you paid for your overall total BTC or ETH, or the CAD value at the time the crypto was added to your balance if sent as an incoming transaction
Average price is the average of how much the price of bitcoin was at the time you purchased or received crypto
For example, say you bought $100 of bitcoin at $20k per BTC and then you bought $100 of bitcoin at $40k per BTC. In this example your original cost is $200 (total you paid for the bitcoin) and your average price is $30k (average of the price of bitcoin on your purchases).
What counts as a credit in my insights?
Credits are all transactions on Shakepay that contribute to your crypto balance. These include:
Buying
Depositing (BTC or ETH purchased on another platform but received to Shakepay)
Shakepay a friend incoming transactions
Roundup from the Shakepay Card
Card cashback
Shake Squad rewards
ShakingSats
Interest
Shakepaid
What counts as a debit in my insights?
Debits are all transactions where crypto was bought on Shakepay and later withdrawn. These include:
Selling
Withdrawing
Which wallets can I view insights for?
Insights are available for Bitcoin and Ethereum.
Do performance insights include crypto I transferred out of Shakepay?
No, performance insights do not include crypto withdrawn out of Shakepay. Insights only include your current Shakepay balance.
Can I use my insights for tax reporting?
No, you should not use insights for tax or reporting purposes. Insights are meant for general information only and may not capture all factors or adjustments.
For tax purposes please download your full transaction summary and work with a tax professional. You can find more insights on taxes in our article, Cryptocurrency and tax obligations.