How does KoinX determine the market price for your transactions?
- KoinX uses an innovative, layered system to determine the crypto market price in your transactions. This is important for accurately calculating capital gains, losses, and portfolio value.
Here’s how it works:
If Your Transaction Involves Fiat Currency (Like USD, INR, EUR)
If you bought or sold crypto using regular money (fiat), KoinX uses the exact amount mentioned in the transaction.
Example: If you bought 1 BTC for 1000 USD, KoinX sets the BTC market price as $1000 — no need to look up external prices.
If the Fiat Currency Isn’t Your Base Currency
If your transaction was in another currency (like GBP, EUR, INR), KoinX automatically converts it to your base currency using accurate Forex rates from the transaction date.
We support currencies like GBP, EUR, AUD, CAD, SEK, etc.
If No Fiat Is Involved (Crypto-to-Crypto Trades)
For crypto swaps (like 1 ETH for 0.05 BTC) or transfers:
If it's from an exchange (like Binance), we use that exchange’s price.
If it’s from a wallet or blockchain, we use trusted sources like CoinMarketCap and CoinGecko, with hourly updates to stay accurate.
If Koinx can’t find the Price?
If we can’t find a market price for a token (maybe due to missing data or an unsupported coin), you’ll get a “Can’t find Price” error.
You can manually set the price or contact our support team for help.
