Crypto Currency conversions (Binance)
Hi guys
Has any one converted crypto from USDT to another coin?
How would I log this exchange? I can only seem to enter price in my local currency in my crypto investment account.
How do I go about exchanging from USDT to another crypto coin, in the moneydance register.
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1 Posted by Stuart Beesley ... on 11 Jul, 2025 03:32 PM
It depends..
By convert - do you mean sell/buy?
You probably want USDT as a security
You probably want the other as a security too.
You buy USDT (from cash/dollars) originally
You sell USDT (into cash/dollars)
You buy other crypto (from cash/dollars).
If this is no good for you, explain in more details what you are trying to acheive.
2 Posted by sizweoks on 11 Jul, 2025 03:38 PM
On Binance, there's an option to trade one coin to another directly.
So, there's no conversion to cash first.
On Moneydance investment register, I can only buy with ZAR (the currency I use)
This is where I get stuck, I'm trying to essentially convert USDT to COIN in Moneydance.
withouth using ZAR, the only thing I can think of is to look at the price on the exchange down to the second and use the closing price of that second as the ZAR buying price?
3 Posted by Stuart Beesley ... on 11 Jul, 2025 03:45 PM
To do this you will need to create currencies for the crypto. To prevent confusion you might need to just hold qtys of crypto as currency (crypto) rather than securities..
4 Posted by sizweoks on 11 Jul, 2025 03:50 PM
Ok, thanks for the reply, I'll give this a shot.
I'll save-as and delete the securities I have and re-purchase/convert to crypto currencies.
Does this sound correct?
5 Posted by sizweoks on 12 Jul, 2025 11:05 AM
I forgot that I can't use crypto as currencies on my Moneydance.
I'm using ZAR as my base currency so I can't sync any of the crypto "currencies" to yahoo.
So I seem to be stuck here.
6 Posted by Stuart Beesley ... on 12 Jul, 2025 11:41 AM
You can use currency and alphavantage with currency ID of
BTC-
this will translate into BTC-ZAR (i.e. it adds your base currency). BUT - AV does not support ZAR as a market... Unless Derek can think of a solution, you are probably snookered...
7 Posted by sizweoks on 13 Jul, 2025 09:30 AM
Thanks for the solution.
I ended up selling USDT to ZAR at the closest price close (to the second) I could get.
Then bought the coin I wanted with ZAR on Moneydance.
I think for now this is a suitable solution.
System closed this discussion on 12 Oct, 2025 09:30 AM.