Why I made Northbook?

Hi, my name is Roy and I am the creator of Northbook. I am a crypto investor and I also help my friends, and some businesses invest in crypto. However because of the decentralized nature of crypto, tracking these portfolios and keeping a clean book takes a lot of time. This is especially true for investment strategies that are based on dollar cost average (DCA) where crypto are bought or sold on regular time intervals (i.e daily or weekly). This generates a lot of transactions and each of them will impact the average cost and the calculation of capital gain when tax season comes.

Even with sophisticated spreadsheet it is still a pain to track these due the fact that these historical transactions are in different places. Some transactions are on Binance, some on Newton, some in Shakepay...etc. My current holdings are also in different places some are in Newton, some in my ledger wallet. Using spreadsheet to track these are time consuming, tedious and error-prone. That's why I built Northbook.

Currently, Northbook allow me to quickly do the following:

• I can easily identify any discrepencies in my transaction because can be aggregated into a single place following accounting standards.
• I can easily see the capital gain for a time period so I save a lot of effort when it comes to tax season.
• I can easily see the average cost of a particular crypto so I can make better decision on whether buying at the current price will increase or decrease my average cost.
• I can easily see the current and historical net worth of my portfolio to analyze the investment performance.

What about Koinly, Coin Ledger and Crypto Tax Calculator?

I am aware that they are various existing software that does an decent job when it comes to calculating capital gain, and I have personally tried most of them. I stopped using them due to the following:

1. All of them are cloud based, meaning my data needs to be saved on their server, this is a privacy concern to me because employee of those company can potentially have access to your data.
2. Most of their calculation are not transparent for example they do not show intermediate step like how average cost are calculated and what fair market price are used, this means it's hard to verify whether their calculation is correct or that the data I have imported is complete without discrepencies.
3. Most of them also do not support exporting data and do not give me access to the raw data that they imported from various platform, this means if I ever want move away and use a different software it will be very difficult.

I value privacy, transparency and freedom of choice, that's why I built Northbook.

What Northbook is not

Northbook is not a crypto wallet, it is only an aggregator that aggregate information from your wallet and centralized exchanges.

When will Northbook officially launch?

I am aiming to release the first stable version in early 2025. However, If you want to use it now you can request early access by clicking here.

Feedback?

Feel free to email me at hello (at) roybao.com