Tracking crypto stablecoin and interest payments

Alternative investments
#1

How are people tracking stablecoin crypto and subsequent interest earned?

As an example, I have a BlockFi account with USDC and GUSD that attract a monthly interest payment.

  • Are you entering the stablecoin as a custom investment with the stablecoin at $1/share x number of shares e.g. $1 x 10,000 = $10,000 USDC?
  • Are you then counting interest payments as dividends in order to track a return?

I searched the community but couldn’t find any answers to this and I am sure that others must be holding stablecoin and earning interest on their crypto.

Many thanks,

James

#2

I believe ther is some portfolio tracking software that can do it for you. I use Koinly but there is no direct integration (API) to BlockFI so you need to import the BlockFi reports manually. Also I’m not happy with Koinly because of their ridiculously high prices and looking for something else.

#3

I use CoinTracking.info, on the paid PRO plan. It does not look as flashy as Koinly, but is much more cost effective especially if you have multiple portfolios (e.g. different family members, SMSF, trust, etc) to track.

No it also does not have API integration with BlockFi, but that’s more a BlockFi limitation I think.

#4

Thanks for the hint. I looked at CoinTracking, and it is significantly more cost effective than Koinly. My problem is too many small transaction so I may need an Unlimited plan which doesn’t exist at Koinly anyway - they charge you $10 for each block of 1000 transactions on top of their subscription price.