The word audit sounds a little scary. A lot of people when they hear it, they immediately think in the scary accountants from IRS.
For me crypto inventory audit is a useful tool not a scary government instrument.
All of us are having of course some 1UP tokens, Hydros, BATs, their amount depend on each level where we are. Plus the guys who are participating in Uptrennd’s Telegram have their Parjar bot with other cryptos such as MUXE, PAR, WED or other.
But I’m totally sure that over 95% of all of us are stacking other cryptos. Maybe some deal of Bitcoins, ETH, BAT, Hydro, Electroneum and others.
But today I was thinking, I even don’t know exactly how much is my total crypto wealth?
Cryptos here, cryptos there. The amount of them and variety is staggering.
We may have some of them in:
- wallets such as MetaMask of Ethereum
- some 1UPs being stacked on Uptrennd of course
some in Parjar Bot
- others in Exchanges
- Hydro app
-BATs on Brave Reward
and tons of them telegram Bots and chats from Airdrops
- others on cloud mining sites
- crypto apps
- another ones on Faucets – even if it is very little
and of course others in some other crypto sites.
Please, don’t think that I am a crypto millionaire because that it isn’t still my case. I still depend on fiat in my real life, cryptos are for me savings for the rainy days of upcoming world economic depression or my pension because in few years there might be not pensions in some countries or very reduced ones.
Plus I forgot I have like 120 satoshi in one online casino, which is not enough to play any round there but I have them there, when I was earning them for free, and yes Bittube that I was using for 1 week, some satoshis are there too.
Where else? I think that’s it.
When I am listing all of it, all of it sounds a little bit overwhelming for me and I am getting stressed about it. Who knows, there may be a rise of a new Bitcoin substitute one day, and maybe I have it in some wallet. I don’t wanna lose it, definitely not. So what am I gonna do? I will simplify. Instead of having over 80 tokens for example, I will have less of them. I will go minimalist way, just the necessary ones, of course 1up tokens.
So what else will I do?
Besides converting them, I will make a spreadsheet on Excel. And check all the sites I visited, all the telegram sites and write it down with its corresponding value in USD. If you prefer your national currency, you can do it in pounds or euros, or any other. I just don’t recommend Bolivar of Venezuela because of their hyperinflation.
Then I will print that sheet or store it in some USB.
The printed sheets are also important backups for our private keys which shouldn’t be stored on computer or mobile because of security hacks.
Plus I really need to buy the hardware cryptowallet, I will check the Nathan’s referral; I really need it.
And another thing, very essential one, I’m gonna do the follow up every week, Checking the % share of each crypto in my crypto portfolio and review all the variations vs the previous weak in crypto and in USD. There we will be able checking how many profits we are making in cryptos or your preferred fiat currency.
If you have any tips to share, what has worked for you, please share them because I am very open minded crypto lover.