28.12.2020
Best Mac Crypto Portfolio App
Best Mac Crypto Portfolio App Rating: 9,7/10 6982 votes
Last updated June 7, 2020
- Best Crypto Portfolio
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- Best Crypto Portfolio Tracker
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Traders buy and sell on exchanges, miners earn coins through their work and employees are being paid in cryptos for their time.
Now the taxman has finally caught up…and he wants your money.
But how are your coins taxed? And what are they classified as? As an asset or a currency? There are many questions being asked and often only very complex answers to them.
That’s where cryptocurrency accounting software comes in.
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From their site: Blockfolio is the #1 Free Crypto Portfolio Management app with support for 3000+ cryptocurrencies. Track your favorite coins, including Bitcoin, Ethereum, Litecoin, Ripple, and more. Delta – Another popular iOS and Android cryptocurrency portfolio app with a very beautiful interface. Conclusion: Which is the best Crypto trading bot? Stacked is the best beginner-friendly crypto trading automated bot that you can use. Cryptohopper is the best crypto trading bot that offers all the basic and advanced features that a trader would need. The features like backtesting, social trading makes it idle for hobbyist and pro traders alike.
Quick Info: Popular Tax Software Companies
- CryptoTrader.Tax
- Easy import from nearly any crypto exchange
- Can be uploaded to TurboTax
- Support for many exchanges
- Koinly
- Very clean interface makes it easy to use
- Supports over 300 exchanges
- Can export US and Canadian tax forms
- Accointing
- Easily print tax reports at any time
- Connect 4500 coins form all exchanges and wallets
- Supports USA, UK, Austria, Germany, and Switzerland
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Chapter 1
What Is Cryptocurrency Accounting Software?
Tax isn’t fun. We get it.
That’s why a growing number of developers have launched apps to help traders, miners, ICOs, and anyone else involved in the crypto community to figure out how to stay on the right side of the law.
Accointing's tax software is one of the best crypto tax software suites we've seen
You probably have a million other things you’d rather be doing than counting pennies and organizing spreadsheets. That’s why it’s a good idea to get your hands on one of the many cryptocurrency accounting apps that are on the market.
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Koinly is an app that makes it easy to import your data and download capital gains tax forms like the 8949, Schedule D and export to Turbotax. It supports the US, UK, Canada, Australia and various other countries.
Price range: Depends on features needed. Free to $249 per year.
Visit Koinly's Website
CryptoTrader offers an easy way to calculate all your crypto taxes, and has integration with TurboTax.
Price range: Free - $299 - Depends on Volume.
Visit CryptoTrader.Tax
Accointing allows you to track your crypto portfolio while keeping a record of all your transactions in order for you to be able to print a tax report at any point in time. It exports your trades in the proper format for taxes in the USA, United Kingdom, Austria, Germany and Switzerland.
Price range: Free - $259 per year.
Visit Accointing's Website
CoinTracking provides you will a real-time trading overview, coin value fluctuations, tax reports, and more. They are considered one of the leading cryptocurrency accounting applications.
Price range: $3494 for lifetime access.
Visit Cointracking's Website
Blox is an app that syncronises data from across all wallets and exchanges to give you a real-time report of your assets. It caters to accountants, traders, miners, funds, and VCs.
Price range: Free - $249 per month.
Visit Blox's Website
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Unfortunately, in most countries, the laws and regulations around crypto are murky at best. This is especially true in the Unites States.
Different parts of the government disagree about what kind of asset virtual currencies like Bitcoin are. The SEC does not consider Bitcoin a security. Instead it is a commodity. The IRS considers Bitcoin property.
Virtual currency is treated as property and general tax principles applicable to property transactions apply to transactions using virtual currency.
SEC Chairman says Bitcoin is not a security..but the IRS still expects you to pay.
That means you are expected to keep track of not only every trade but every transaction. Due to Bitcoin’s usage as money, the IRS has a hard time differentiating between using Bitcoin as a speculative asset to be traded and and using Bitcoin to buy a cup of coffee. This makes trading and using Bitcoin and other coins with different legal definitions very cumbersome come tax season.
On top of that, the IRS has warned many holders of crypto that they are very serious about citizens who skirt the laws or try to use crypto to evade taxes…and they will find out.
The IRS is not fooling around with you. Take audits seriously.
You could spend countless hours tracking all of your trades and purchases and trying to make sense of capital gains. This is amplified by the fact that individual states have their own laws.
That’s why software like the one’s recommended above are so handy. Sure, each of them cost a few bucks, but for the time you save and the protection this software gives you if you are ever audited is worth every satoshi.
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With so many options available to you, it can easily become overwhelming. That’s why it’s a good idea to first make a proper assessment of your requirements when it comes to accounting.
So who needs what?
If you’re a casual trader or only deal with cryptos on a hobby-level, then you’ll be able to get by using some of the free services out there.
Accointing's tax software is one of th best crypto tax software suites we've seen
If, however, you’re a power-user who deals with thousands of transactions every year, then it’s best to invest in a proper service that syncronises all your accounts into one dashboard.
Koinly and other services allow you to synchronize all your accounts.
Finally, if you have your finger in many crypto pies, such as stablecoins and ICOs, then it’s best to seek guidance from a certified accountant who understands each of your asset categories.
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We’ve reviewed the best bitcoin and crypto tax software, now we’re going to focus on the next step of the process: getting that data into Turbotax.
Before we get started, it’s important to have a general understanding of the regulations that apply to cryptocurrency. Let’s take a quick look at the way cryptocurrency is treated and taxed by the IRS. If you’re not in the U.S., Koinly has a great list of country-specific guides, covering Canada, the UK, Australia, and Denmark.
- CryptoTrader.Tax
- Easy import from nearly any crypto exchange
- Can be uploaded to TurboTax
- Support for many exchanges
- Koinly
- Very clean interface makes it easy to use
- Supports over 300 exchanges
- Can export US and Canadian tax forms
- Accointing
- Easily print tax reports at any time
- Connect 4500 coins form all exchanges and wallets
- Supports USA, UK, Austria, Germany, and Switzerland
Taxation of Cryptocurrency
Cryptocurrencies such as Bitcoin and Ethereum are classified as property under federal law. This means that the same tax obligations apply to crypto as do to physical property such as real estate. The main implication of this is that most cryptocurrency transactions are subject to capital gains tax.
The following are considered taxable events:
- Selling cryptocurrency for fiat currency, e.g. BTC to USD
- Purchasing goods and services with cryptocurrency
- Trading one cryptocurrency for another cryptocurrency, e.g. BTC to ETH
The following are not considered taxable events:
- Purchasing cryptocurrency with fiat currency, e.g. USD to BTC on Coinbase
- Transferring cryptocurrency between wallets you control
- Gifting cryptocurrency (under $15k) or donating to tax-exempt charities or organizations
Proceeds of crypto mining are generally treated as income and taxed as such.
When a taxable event occurs, capital gains or losses are calculated by subtracting the purchase price (also known as the cost-basis) from the selling price. For example, if you bought one Bitcoin for USD$5k in 2018 and sold it for USD$10k in 2020, you would realize a capital gain of $5k, or 100%.
This capital gain would be subject to taxation at the long-term capital gains tax rate, as you held it for more than one year. This rate varies between 0% and 20%, depending on your taxable income and filing status.
Capital gains realized less than one year after purchase are added to your income and taxed at the applicable rate.
To accurately calculate the capital gains tax due on every transaction, you would need to have records of the purchase price of Asset A in USD, the conversion rate of Asset A to Asset B, the value of Asset B at the time of exchange in USD, and the amount of Asset B purchased.
These data are logged by your exchange, but sifting through them manually is a painstaking task. Let’s take a look at how to do it using crypto tax software.
A completed Form 8949.
Importing Transactions
Crypto tax software integrates with your exchange’s API to fetch and compile a list of all your transactions.
Exchanges such as Binance also allow you to manually export your trade history.
Once you have imported your trade history, the crypto tax software will compile this and give you a rundown of total capital gains or losses.
You can now export your data. IRS Form 8949 (Sales and Other Dispositions of Capital Assets) is the most common way to do this, and it’s always a good idea to keep a copy for your own records. You can also export directly to TurboTax’s proprietary online format.
Best Crypto Portfolio
Filing With Turbotax
Filing your cryptocurrency capital gains/losses with TurboTax is simple. For this tutorial, we’ll be using the online platform.
To file investment gains and/or losses, you’ll need TurboTax Premier or Self-Employed.
When filling out your financial picture, be sure to select I sold or traded cryptocurreny.
1. Navigate to cryptocurrency
Once you have begun your return and filled out the initial prompts, navigate to the Cryptocurrency tab by choosing Federal > Wages & Income > Cryptocurrency
2. Add cryptocurrency data
Here, you can link the third-party service you used to prepare your trade history, or choose to enter information manually.
3. Import
Upload the .csv file that you prepared earlier. /mac-shortcut-show-apps.html.
4. Review
Check the summary of your taxable transactions to ensure that everything looks right.
5. Submit
That’s it! You’ve successfully imported your cryptocurrency transactions into TurboTax and can rest assured that your capital gains and/or losses will be accurately reported.
Make sure to check out these other crypto tax services as well to find the right one for you!
- CryptoTrader.Tax
- Easy import from nearly any crypto exchange
- Can be uploaded to TurboTax
- Support for many exchanges
- Koinly
- Very clean interface makes it easy to use
- Supports over 300 exchanges
- Can export US and Canadian tax forms
- Accointing
- Easily print tax reports at any time
- Connect 4500 coins form all exchanges and wallets
- Supports USA, UK, Austria, Germany, and Switzerland
Crypto tax software makes it easy to properly file taxes on your cryptocurrency trading and protects you in the case of an audit.
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How does cryptocurrency taxes work?
If you have ever paid taxes on real estate or any other hard asset, then crypto works the same way. Any profits are taxed as capital gains.
That means you pay taxes on the difference between the price you bought the coins and and the price you sell them at. This is true whether you live in Canada, the US, or the UK, as well as many other countries.
Do I still pay taxes if I only made losses on my cryptocurrency?
You must report both profits AND losses. However, if you report losses, you may actually be entitled to reduce your crypto taxes in the future so its actually in your interest to report these losses.
Are Crypto to Crypto Trades Taxed?
Yes, anytime you trade one cryptocurrency for another, you are effectively selling the first currency and buying the second one.
This creates either a profit or a loss of the first cryptocurrency and a new cost-basis for reporting the second. Make sure to keep track of all crypto to crypto trades.
Do I have to pay tax if I transfer crypto from wallet to wallet?
If you do not own the second wallet, then yes, you must pay capital gains on the coins you transferred since you are effectively ‘selling’ them.
If you own both wallets, there is no sale, and therefore there is no tax reporting liability.
How Will the COVID19 tax delay affect crypto holdings?
On March 20, 2020, the Treasury Secretary Steve Mnuchin announced on twitter that all 2019 income taxes would now be due no later than July 15, 2020 (as opposed to the normal April 15 due date). Bitcoin and other crypto holdings are no exception. Whatever crypto sales gains you would have reported for your 2019 taxes should have been included in your 2019 tax return due July 15, 2020.
Can I pay my taxes in the coins I hold?
Even in 2020, most jurisdictions will not allow you to pay any taxes in crypto of any kind. There are a few places, such as the swiss canton of Zug and the US state of Ohio, among others, to allow residents to pay their taxes directly in Bitcoin. Overstock.com became the first US company to pay all of its taxes in Bitcoin.
There used to be a service called snapcard that you could pay with Bitcoin to pay your taxes for you for .5% fee. However, they rebranded as Masscard in 2015 and then to Wyre and ceased offering this service.
Won’t exchanges, like Coinbase, generate my tax documents for me?
No. While some exchanges do give you detailed trading reports of your year’s activity, these are not technically the same documents that you will have to turn in to the IRS. Some exchanges will not even produce documents like these at all. Don’t rely on an exchange to:
- Give you filled in tax documents
- Accurately capture your full trading history for the year
Unfortunately, it is on you to make sure your taxes are paid and properly documented on the correct forms.
How will crypto on Paypal be taxed?
In October, Paypal made it possible to buy, hold, and sell coins directly on its platform. You cannot, however, withdraw the Bitcoin from your account, leading many to wonder if it will be taxed the same way, since you are never taking control of the private keys.
Crypto on PayPal will be taxed exactly the same way it is taxed when you hold the coins yourself. Namely, a taxable event occurs everytime you sell cryptocurrency, be it for another cryptocurrency or for a cup of coffee.
Paypal also clearly states that determining your tax liability is placed firmly on you.
It is your responsibility to determine what taxes, if any, apply to transactions you make using your Cryptocurrencies Hub. You can access your transaction history and account statements through your PayPal account for purposes of determining any required tax filings or payments
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An increasing number of institutions are entering the crypto market. Also, considering the resounding advice on diversifying your assets, cryptocurrency portfolio tracking apps are on the rise. A portfolio tracker can make a huge difference even for investors holding crypto long term, not to mention, those trading on a regular basis.
We can see many emerging platforms using technology, just like the ones available in other asset classes. Let’s look at the differences between them and determine which ones are the best.
Contents
- The Best 5 Crypto Portfolio Tracker Apps
What is a Crypto Portfolio?
A cryptocurrency portfolio represents a collection of investments a trader owns across different types of crypto assets. For example, when a trader owns ten coins and tokens, they collectively comprise their portfolio.
A portfolio reflects the trader’s/investor’s style, risk tolerance, and key components of their market strategy. Investors normally go for several established currencies in order to hold them and perform a limited activity with them. Alternatively, day traders will have less stability in their portfolio.
How to Build a Cryptocurrency Portfolio
The first steps to build your portfolio are all about the planning:
- Know what you can afford to invest in.
- Decide on your trading/investing style.
- Determine how you will allocate your funds.
- Decide which cluster of the crypto industry to get into.
When you are ready to make investments, you need to:
- Study details relevant to your cryptocurrencies of choice.
- Analyze the price-to-earnings ratio.
- Assess the total return.
- Start purchasing – however, this is a complicated topic for another time.
Then you need to maintain your portfolio. Cryptocurrency portfolio apps and trackers allow you to view your assets in various wallets and on exchanges. Even though you can manage to monitor your assets by visiting your wallet and exchanges directly, it can be a hassle. So, if you want to avoid unnecessary actions, cryptocurrency wallets with a tracker or a platform with wallet synchronization can save a lot of time and effort.
The Best 5 Crypto Portfolio Tracker Apps
Here are top portfolio trackers with a deep dive into their functionality so you can get insights into which ones would best fit your needs.
1. Delta Portfolio App Review
With over a million downloads and raving reviews, Delta has proven itself as another leading crypto portfolio tracking and management app. It shows a clear overview of profits/losses and runs fast with minimal server downtime.
Features include:
- Charts with coin analysis, volume, market cap, etc.
- Separate portfolio tracking feature and a watchlist
- Advanced price action alerts for both trading pairs and single coins
- Delta Direct – a convenient communication tool for crypto projects
- Integration with Medium, Steemit, RSS blog, and Twitter channels
- Account Recovery – restoring the app to the last known state using generated dynamic recovery code.
If you purchase the Delta Pro, which is $60-80, you get access to these functionalities:
- Creating and managing up to 10 different portfolios
- Unlimited number of exchanges
- Syncing data with up to five devices
| Pros | Cons |
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We’re happy to introduce Delta 3.0 – available for everyone on iOS & Android!
What’s new?
– Gorgeous new look 🖤
– Filter on top 100 coins in the markets section
– PRO exclusive Monochrome Mode
– …
Read all about this major new release via https://t.co/ezp5lIyZXa
Enjoy!
∆
— Delta Crypto Portfolio Tracker (@get_delta) December 17, 2019
The tracker is useful for low to medium-level traders, especially mobile-based. Even though you get ample information about your assets, portfolio tracking is structured into a compact set of features.
2. BlockFolio Review
BlockFolio has an immense reach of over 5 million people using it to manage their cryptocurrency portfolios. There are 400+ teams on Blockfolio Signal, including teams and leaders from Monero, DASH, NEO, Ethereum, NEM, ZCash, 0x, etc.
There are zero ads and no hidden costs, and you get the following set of utilities:
- Real-time Blockfolio Signal updates and pricing into Slack groups
- Multiple portfolios divided into separate categories
- Notification alerts on price levels
- Automatic updates between your portfolio and crypto exchanges
- Secret PIN for better security
- Data recovery and transfer if a device gets replaced or stolen
- Latest crypto news feed from social media and crypto publications
- Customizable explore section
| Pros | Cons |
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A post shared by Blockfolio (@blockfolio) on
It is probably not the best choice for full-time traders due to manual transaction entries. However, the available functionality is more than enough for more casual traders wishing to perform transactions very quickly and efficiently.
3. CoinTracking Review
This tracker is far more than just a spreadsheet of portfolio information. CoinTracking makes sure you make an informed decision by offering a range of features:
- Interactive charts for trades and coins
- Connection to popular exchanges using API
- Realized and unrealized gain/loss
- Tax calculator with 12 methods
- View of historical price data from the last 10 years
- Eight supported wallet imports
- Real-time trade profitability and set price alerts
There is also an experimental price prediction feature, which may prove to be very useful in the future. But it is too early to tell how accurate they are.
The prices for Pro or Unlimited plans range between $65 to $1090 (or an equivalent amount in cryptocurrency).
You can visit the CoinTracking official channel for short tutorial videos.
| Pros | Cons |
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CoinTracking is aimed at more serious cryptocurrency investors and full-time traders. It works well when you plan on holding cryptocurrencies for a long time. However, the best use for the tracker is for regular buying/selling.
4. Cryptocompare Review
Best Crypto Trading App
In addition to standard crypto tracker functionality, Cryptocompare offers cryptocurrency wallets comparison, mining guides, reviews, news, analytics, and a lot more. Many people call it an entire crypto ecosystem.
The platform’s most notable features are:
- Cloud-based platform
- Management of multiple portfolios
- Options to make portfolio public or private
- Risk analysis feature
- ICO tracker and timeline function
- Shows realized profit/loss and total revenue
- Possibility of adding notes
| Pros | Cons |
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— CryptoCompare (@CryptoCompare) February 12, 2020
Cryptocompare is a one-stop solution for new and infrequent users. However, more experienced traders may find its functionality and overall user experience rather incomplete for their needs.
5. KryptoGraphe Review
The app has not been on the market for a long time. However, it’s managed to achieve a decent level of success through the availability of these features:
- Exchange integration
- Existing mobile or hardware wallets integration
- Real-time profit, loss, and percentage growth or decline
- Portfolio view by coin, exchange, and period
- FIFO-based accounting
- List of top coins by market capitalization
- News section
KryptoGraphe offers an interesting feature of portfolio comparison. You can see the percentile performance of other traders using the same platform or even the top cryptocurrency investors.
The basic plan is free. Premium and Gold cost $4.99 and $6.99 monthly. The differences are in sync exchanges, portfolio limits, coin watchlist, alerts, and tax reports.
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The KryptoGraphe app is still somewhat hard to position. What is now known is that it performs all of the necessary functions that a crypto management platform should. It will be easier to see what kinds of traders it suits as new functionality is added.
Which Crypto Tracker is the Best?
Choosing a cryptocurrency tracker is a personal matter because different apps and programs suit different traders. That said, there are some standard criteria, which the app needs to meet. These qualities include:
- Affordability – our reviewed trackers offer free versions, which is vital. You shouldn’t be forced to purchase a service you have not tested. It is also important that the costs of Pro versions remain affordable in case users need to access added functions.
- A range of available coins and exchanges – there is no reason to have a tracker if it can’t handle your complete digital asset portfolio. Check if the app connects to all of your coins and exchanges to have a one-stop solution.
- Advanced functionality – the tracker should have additional useful features on top of all the basic functions.
- Safety and security – the decentralized nature makes cryptocurrencies hard to trace. Therefore, the stakes are high, and the platform needs to have two-factor authentication and multi-layer encryption at least.
- Clear layout – the flow of your actions should be seamless. With just a few clicks, you should be able to see how the value of your portfolio changes or find the value of each coin.
With these criteria in mind, here is an overall rating on the best cryptocurrency trackers currently available on the market.
| Crypto Tracker | Rating |
| 1. Delta | 8.5 |
| 2. BlockFolio | 8 |
| 3. CoinTracking | 7 |
| 4. Cryptocompare | 7 |
| 5. KryptoGraphe | 6.5 |
How Long It Takes to Build a Crypto Portfolio
There is no set timeline that everyone follows in terms of building their crypto portfolio. In theory, you can build a portfolio in a day. However, most of the time, people take a longer route in order to achieve more sustainable results – usually six months to a year.
In other words, you either find a profitable opportunity to seize instantly or wait until there is another drastically good one. In the latter case, it may be a huge drop in the price of a top currency. Regardless, you will start building your portfolio once you purchase the first cryptocurrencies.
There are several processes that are worth spending time on:
- Research on currencies, exchanges, trading and tracking platforms
- Establishing profit targets
- Structuring an investment portfolio
- Choosing crypto assets
- Rational decision making
What Coins to Add into a Cryptocurrency Portfolio
There are thousands of coins to choose from. Here is how you can simplify the process of deciding which coins to purchase. Before purchasing a coin, ask the following questions:
- Is it technically secure and sound? There is no need to explain this point.
- How many actual users are there? The success of a coin can be overhyped in the media.
- What exchanges accept the coin? Being listed on reputable exchanges is a good sign.
- Does it have intrinsic value? There should be something that backs up that named crypto.
- Is it managed by some defined entity? Complete decentralization is not necessarily a good thing because someone should be held responsible.
If you spread out your portfolio across coins with different use cases, you can decrease the risks associated with trading cryptocurrencies. Below are just a few examples to give you a general idea of the types of currencies available on the market.
| Types of Cryptocurrencies | Examples |
| Store of Value | Bitcoin, Digix |
| World Computer | Ethereum, NEO, EOS, Cardano, Tron |
| Payment Rail | Bitcoin Cash, XRP, Ripple, Monero, Dash |
| Connected IoT | IOTA, Waltonchain, IoTeX |
| Cloud Storage | Siacoin, Storj |
| Decentralized Applications | PayFair, TronMine, Nestree, StemQ |
| Decentralized Finance | Maker, Augur, Local Ethereum |
| Exchange Utility Tokens | Binance Coin, Huobi, KuCoin Shares, Bitfinex |
| Tradable Digital Assets | WAX |
Best Mac Crypto Portfolio App Software
Cryptocurrency Portfolio Management
If you want to generate earnings, here are important points to keep in mind after building a portfolio:
- Regularly check the situation with Bitcoin. Most altcoins have some degree of dependency on the Bitcoin price.
- Categorize your assets and look at the bigger picture. If you have a few different categories of coins (which is preferable), you increase the chances for success.
- Turn your mistakes into learning opportunities.
- Use any tools that you need. Don’t be discouraged from using automated tools, tracking instruments, etc. even if they seem confusing at first.
- Set stop losses for active trading.
- Don’t get greedy. Maintain a reasonable approach – sometimes it is better to pull out while you have some profit instead of risking it all.
Best Mac Crypto Portfolio App For Beginners
Conclusion
Best Crypto Portfolio Tracker
If you follow the rules and build your portfolio correctly, you don’t want all that effort to go to waste. The ability to view and analyze your assets in a separate space, going from research to execution, has great value for your trading activity.
Trackers bring a calming, structured element into the chaotic crypto market. Out of all portfolio-trackers presented, you should choose the one suitable for your experience level. Other than that, they all fit the parameters of a quality tracking tool.
Best Crypto Apps
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