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Stable - Crypto - Coin interest

General questions about using Fund Manager that do not fit into any other forum.

Postby astropuppy » Sun Mar 06, 2022 10:38 am

Looking for recommendations on how to handle interest on Crypto Stable coins that pay interest daily. Setting Bond interest doesn't seem to accept daily interest transactions. I am new to Fund Manager, the only thing I can figure out to do is treat it as a daily dividend or roll the interest up into 3 month intervals. I'm talking literally pennies per day. Ideas?

Love the 8 decimal places in the new FM version.
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Postby Mark » Sun Mar 06, 2022 1:48 pm

Hi astropuppy,

If you actually get "paid" on a daily basis, this would be a reinvested interest distribution. To be the most accurate, you'd record a transaction every day that you actually receive interest. However, you could also do what you suggested, and roll them up every month, or 3, or whatever period you choose.
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Postby astropuppy » Mon Mar 07, 2022 6:19 am

Thanks Mark,

Yes, I am actually being paid daily; Or, at least Gemini is generating a transaction entry daily. FYI I'm just dipping my toe in the stable coin water. 8% apr is kind of hard to pass up, I'm sure my tax guy won't be too amused next year's 2022 taxes.

Have a great day and thanks for the help.
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