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If you're on a Computer or Laptop, basenode.io is the easiest way to get started with your cryptocurrency tracking and accounting. Not only is the app free to use, but it's also suited for freelancers and small businesses to create cryptocurrency invoices.
basenode.io works by letting you add a public address from our supported networks or connecting an exchange. Once set up, you can use basenode.io to track your cryptocurrency portfolio, in and out flowing payments, and Decentralized Finance (DeFi) & Non-Fungible Token (NFT) transactions. Furthermore, you can create reports in PDF and CSV format without manually writing every transaction into a spreadsheet. As a freelancer, you can use basenode.io to get paid in cryptocurrencies. You can also use the app to account for your cryptocurrency transactions as a business.
Generally, basenode.io is easy to use when you understand the basics of blockchain technology. But, if you are still new to the space, here's everything you need to know to get started as well as some tips on how to use it.
Setting up your first wallet
The first step is always to choose your preferred Sign-In method. You'll need to enter your public address at some point, unless you are connecting with a wallet. basenode.io supports multiple third-party providers to allow the sign-in process.
You'll be logged in as a guest if you enter your public address within “Paste Public Address” directly. You can track your portfolio and transactions, but the app won't save your information after closing the session.
For connecting with a wallet, you'll need the MetaMask, or a WalletConnect supported extension already installed as a plug-in on your browser. Then sign the message in the pop-up, and you're signed in.
If you sign in with Google, you'll be asked to add your first wallet by entering your public address or connecting with a centralized exchange after logging in.
Before you start
Before using the app, you should take some time to sort your settings.
Click at the top right on Account Icon > Your Profile. Over here, you can save personal information like your name, e-mail, and address for future invoice creations.
If you switch over to Settings, you'll be able to choose your preferred base currency which is used to denominate all your values within the app, including the reports. You can switch between light & dark mode and change your preferred language and time zone.
Within Integrations, you can connect with third-party providers like Quickbooks to seamlessly report expenses / deposits in cryptocurrencies. (For a proper working Quickbooks integration, you are required to be minimum on the Essential Quickbooks plan.)
Setting up basenode.io
Suppose you know the public addresses of business partners or friends. In that case, you should take the time to add them as your contacts by heading to Contacts > Add Contact or using the header + > Add Contact. Mainly, this is useful to identify transaction parties way more quickly and to pre-save them if you send a crypto invoice to that person later.
Every wallet that you have added to basenode.io will be displayed within Wallets. Here, you get an overview of each wallet's address, balances, and last transaction activities. Suppose you want to add another wallet or connect a centralized exchange. In that case, you can do so via Wallets > Add Wallet or the header + > Add Wallet.
Tip: If you want to see the activities of a specific wallet, click on it.
Using basenode.io
There are multiple ways to use basenode.io, but most people will likely use the service on their Laptop or Computer. But as long as you can sign in, you should be fine using the application on any device.
After connecting to the exchanges and wallets where you keep your crypto, basenode.io can track your crypto portfolio. You can see your cryptocurrency holdings on a single screen in the Overview screen.
Here, you can keep track of pending invoices, your latest crypto transactions, and how your portfolio evolved - everything calculated within your favorite currency.
Tip: If you don't want to see the information of a specific wallet, you can unselect it within the account field.
In the Transactions screen, you can see all transactions related to your added wallets. Using the “Filter by” button in the top right, you can filter all transactions for specific coins/tokens within a particular time frame. You can see more information like Gas Price & Costs and the transaction fee by clicking on one transaction. If NFTs are related to a transaction, the transaction extension will also showcase them.
Creating crypto invoices & reports
To create a cryptocurrency invoice with basenode.io, go to Documents > Invoices > Create Invoice, or + > Create Invoice. You'll then see the invoice creation screen where you can customize your invoice.
Choose a name for your invoice.
Choose a contact or add a new one to billing.
If not already pre-saved, enter your information.
Choose your invoice currency which will denominate your crypto invoice.
Select the wallet where you wish to receive the funds.
Choose the asset you want to receive. The amount you'll receive becomes auto-calculated in your invoice currency at the time of payment.
List the services and items for which you are creating the invoice.
Optional: Add a message to the customer
Select the date your invoice should be issued
Select a due date for your invoice.
Click on SAVE DRAFT for later adjustments or SEND for e-mailing it.
After completing all steps, you can save your invoice as a draft or send it. If you click on send, a PDF version of the invoice will be downloaded, which you can e-mail to your customer. After your customer pays the invoice, you'll receive an e-mail notification.
To create a report via the basenode.io app, you can do this by heading to Documents > Reports > Create Report, or + > Create Report. After entering a name, you can select the report type and choose which wallets should be included. Once that's done, click on Continue, and you can view your newly created report listed within Documents.
Tip: If you want to view, edit the name, or download a PDF/CSV version of a document, use the Action button.
That's all there is to it. Happy crypto accounting.
About basenode.io
At basenode.io, our mission is to eliminate the gap between traditional accounting and blockchain-based accounting. Basenode.io is the first token-based accounting solution that offers seamless fiat-to-crypto invoicing. We provide a self-explanatory user interface with a clean and modern look, that naturally supports your workflow. Furthermore, we will integrate support for the most popular networks like Bitcoin, Ethereum, Binance Smart Chain, Polygon, Fantom, and Ronin chain.
Author
David Brodhagen is COO and co-founder at basenode.io. Before, he worked in the blockchain ecosystem for two years. Besides studying Business Administration he leads the Blockchain Initiative at the Frankfurt School of Finance and Management. You can contact him via email and LinkedIn.