Cryptopiy
@cryptopiy
HOW TO TRACK YOUR CRYPTOCURRENCY EXPENSES Managing crypto funds is personal, but I want to share my method. Many people don't track their expenses or investments. It's different if someone has over $1 million compared to $10-20k. This post is for those with the latter amount.
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Cryptopiy
@cryptopiy
Here's what I do. Let's say I have $10,000. We break down the $10,000 into percentages for each area where we want to use these funds (example is simplified).
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Cryptopiy
@cryptopiy
Retro drops: 50% - $5k NFTs: 20% - $2k IRL: 30% - $3k
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Cryptopiy
@cryptopiy
Now we record it like this: Initial deposit for retro: 5000 Current deposit for retro: 5000 Initial deposit for NFTs: 2000 Current deposit for NFTs: 2000 Initial deposit for IRL: 3000 Current deposit for IRL: 3000
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Cryptopiy
@cryptopiy
For example: Initial deposit for retro: 5000 Expenses: L0: $1000 ZkSync: $1500 Zora: $500 Current deposit for retro: 2000
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Cryptopiy
@cryptopiy
Initial deposit for NFTs: 2000 Expenses: Minting crap #1: $200 Minting crap #2: $100 Current deposit for NFTs: 1700
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Cryptopiy
@cryptopiy
Initial deposit for IRL: 3000 Expenses: Laptop purchase: $3000 Current deposit for IRL: 0
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Cryptopiy
@cryptopiy
So, we performed an activity -> recorded the expenses -> logged the expenses under "Expenses" -> subtracted the spent amount from "Current deposit."
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Cryptopiy
@cryptopiy
This way, we see where the money goes, how much is spent, and we can control expenses if we see that the deposit is being depleted too quickly while few projects are completed. In such a case, we can stop in time, reduce spending on activities/number of accounts, so as not to invest too much in one project.
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Cryptopiy
@cryptopiy
You can also add more categories where funds are used. For example, I add expenses for purchases/monthly payments and record how much money is spent on anti-virus software, proxies, etc.
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