At CTC, we're committed to simplifying crypto taxes with our continually evolving auto-categorization algorithm. Despite our best efforts, auto-categorizing everything is challenging due to the various data sources created by different developers of exchanges and wallets. These different sources often use unique terms, making it difficult for us to categorize them automatically. I have a few tips for you to get the most out of our auto-categorization algorithm. 😉
1. Import all your exchanges and wallets
We cannot emphasize this point enough! It is crucial to import all exchanges and wallets to minimize the number of uncategorized transactions.
For example, if you have 10 transfer transactions that go from exchange A to wallet B, but you only import wallet B, not exchange A. Our App will display:
10 incoming (uncategorized 😢) transactions in wallet B
However, if you also import exchange A, our app will read them as:
10 transfer (auto-categorized 😎) transactions from exchange A to wallet B
There are still some instances where we cannot auto-categorize the examples above, depending on the information our app can fetch when your data is imported.
2. Categorize all similar transactions with one click
To make our users' lives easier, CTC detects similar transactions and applies the same category by default when you categorize an incoming or outgoing transaction on the Transactions page. You can disable this feature at any time by unchecking the box.
The 'Review' page saves you more time
For users on paid plans, the Review page identifies similar transactions and provides a list of Uncategorized Transactions so you don't have to categorize them individually!
3. Bulk edit your selected transactions
If you have other transactions that are not that similar but wish to categorize them in bulk, we have a solution for you as well! 😊 On the Transactions page, select the transactions and use the batch edit bar that pops up at the bottom to categorize them.
For more details about the bulk categorization feature, please check: How to Bulk Edit Transactions.
We highly recommend upgrading your plan to access all the features. In case you are not satisfied with the product within the first 30 days, you can always request a refund. We offer a 30-day money-back guarantee for your peace of mind.
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