There are a variety of reasons that your My Coins balance may not be correct. In this article we will discuss those reasons along with any troubleshooting steps that we recommend to resolve this.
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Your My Coins balances are synced from a combination of your API synced exchanges, and your synced software wallets with supported blockchains. When the sync is no longer up to date or we don't have a source connected, the balance displayed on the My Coins page can appear incorrect.
It's important to understand that this balance has no impact on your taxes, or your tax forms. The balances displayed on the My Coins page are simply meant to provide you with an overview of balances that are available on your synced exchanges and wallets. The balances on this page are not considered by our tax engine for any calculations.
The first thing to do is ensure all of your sources are up to date with a recent sync. Accomplishing a sync on all of your sources is very simple! All you need to do is select Add Transactions > Sync all my transactions. This process can take up to 30 minutes for some exchanges, but typically your coin balances will update before the sync is complete.
At this point, you will want to watch the notifications for the syncs that are in progress. These notifications appear in the top right corner, and you will be notified if a sync fails.
If all of your syncs complete successfully and the balances are still incorrect, the next step is to look at the sources and identify which sources may not be accurate. Go to the My Coins page, and select Sources. From there you can look at the sources along with their specific balances for each coin.
Example: If you have 1 BTC in Coinbase and .5 BTC Binance and the balance on the My Coins page says 1 BTC, then it's possible Binance is not syncing properly.
If your sync fails, or you identify a source that is connected but the balance is incorrect, please reach out to the Support Team to further diagnose the issue and get it fixed.
Have additional questions? Feel free to check out articles from the rest of our knowledge base!
Still have questions? Please reach out to us directly using the in-app Support widget in the bottom-right of your screen, or email support@taxbit.com and we'd love to help you out!
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