Unidentified Assets are assets that have not been correctly identified by Recap and may not be priced accurately. Common causes of unidentified assets include:
Multiple assets sharing the same asset code
The asset not yet being in the Recap database
The asset existing across multiple blockchains
The asset being a spam token
How to Find Unidentified Assets
On the Accounts screen, look for 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 the affected account card, and select the Asset Identification tab.
Any assets requiring your attention will be marked in orange as Not found under the Method column.
To resolve this, click the blue Edit button to the right of the asset, then select the ‘Select a currency’ dropdown box.
Search for the correct asset by typing its name or asset code. Once you've selected the correct asset, click the blue Save text. Repeat these steps for every unidentified asset.
If you cannot find the correct asset in the drop down box, then it may need to be added to the Recap database. Please contact support through in-app chat to let us know and we will get the asset added as soon as possible.
Things To Note
Unidentified Asset Transactions May Still Be Valued
Some transactions containing unidentified assets may have been correctly valued by the counter asset in the transaction. In such cases, it may not be necessary to identify the unknown asset.
To verify this, go to the Activity screen, click on the affected transaction, and check the Prices tab. If there are no red No Price or Unidentified Asset warnings, the transaction has been valued.
If you choose to ignore a particular unidentified asset flag, make sure to check every transaction containing that asset to ensure they have all been successfully valued.
Spam tokens
You may notice that your wallet has been sent unsolicited Spam tokens. These tokens often have malicious intent and are sent to your wallet without your consent. When importing your wallet transactions, Recap may detect these tokens and mark them as unidentified assets.
It's important not to interact with these tokens within your wallet, as doing so can lead to your wallet being compromised and the loss of your crypto assets.
In most cases, you do not need to identify these spam tokens in Recap, as you likely haven’t interacted with them. As a result, no taxable event will be triggered.