Unidentified assets are assets that have not been correctly identified by Recap and therefore may not be priced correctly. An Unidentified Asset can be caused by:
multiple assets having the same asset code
the particular asset not yet being in the Recap database
an asset being across multiple chains
the asset being a spam token
How to find Unidentified Assets
On the Accounts screen, you’ll notice an orange Unidentified Asset warning at the bottom of any account cards that are affected.
How to resolve Unidentified Assets
To fix any Unidentified Assets go to the Accounts screen, click on an affected account card and then select the Asset Identification tab.
Any assets requiring your attention will be marked in orange as Not found under the Method column.
Click the blue Edit button to the right of the asset and then click the ‘Select a currency’ drop down box that appears.
Search for the correct asset by typing its name or the letters in its asset code. Once you have selected the correct asset click the blue Save text on the right. Repeat these steps for every asset that has been unidentified.
If you cannot find the correct asset in the drop down box, then it may need to be added to the Recap database. Fill in the token request form or contact support through in-app chat to let us know and we will get the asset added as soon as possible.
Unidentified Asset transactions may still have been valued
Some transactions containing unidentified assets may have been valued correctly by the counter asset in the transaction and therefore it may not be essential to correctly identify the unknown asset.
You can check this from the Activity screen by clicking on an affected transaction and then checking the Prices tab. If you do not see any red No Price or Unidentified Asset warnings then this transaction has been valued.
If you plan to ignore a particular unidentified asset flag, you will need to check every transaction that contains the unidentified asset to ensure that they have all been successfully valued.
Spam tokens
You may find that your wallet has been sent what are known as ‘Spam tokens’. These are tokens that have been sent to your wallet unsolicited and often have malicious intent. These transactions can be picked up by Recap when importing your wallet transactions and will likely be shown as an unidentified asset.
Make sure that you do not interact with these tokens within your wallet as this can lead to having your wallet drained and losing all of your crypto assets!
It is unlikely you need to identify these spam tokens within Recap, as you probably haven't interacted with them. Therefore, a taxable event cannot be triggered.