Cubit (for Windows) is simple to use. Begin by selecting your fiat currency from the top of the screen. Once a fiat currency is selected it generally shouldn’t be changed again. Cubit assumes that once you’ve selected a currency, all of your transactions will then be in that currency. Next input all of your transactions (every time you buy, sell, gift, receive or exchange bitcoin for goods/services, etc) in the lower section of the screen, and Cubit will do the rest.

Cubit stores all of your inputted transactions in a .json file saved in your your user application data directory (e.g. C:\Users\yourusername\AppData\Roaming\Cubit). Your selected fiat currency is also saved in the same location. No data is sent anywhere but Cubit does need to be granted internet access in order for it to collect the historic and current price of bitcoin.

Transaction input

Input all your transactions here. The more accurate you can be the better, but Cubit will do its best to fill in the gaps for you if you don’t have all the information needed.

Make sure to select your fiat currency at the top of the screen before entering transactions. Start by selecting ‘Received Bitcoin’ if you bought, earned, or were gifted an amount of Bitcoin, or ‘Spent Bitcoin’ if you sold, paid or gifted an amount of Bitcoin. Note that Cubit won’t allow you to spend bitcoin that you don’t already have, so your first transaction should be a ‘receive’ transaction.

Fill in as much of the date of the transaction as possible. If you know the year and month but not the day then the median bitoin price for that month will be used as an estimate. If you only know the year then the median price for that year will be used. If you know the exact date then the estimate will be an average price for that date. In periods of higher volatility using estimates will increase the margin of error later on, so it’s always best to be as complete as you can be.

Once you input the amount of fiat money or the amount of bitcoin that was transacted, estimates will also be provided for the amount of bitcoin or fiat you will have received or spent. This is based purely on the exchange rate and won’t take account of things such as exchange fees, non-KYC premium, etc. It’s best to provide all the correct figures if you can.

The ‘Label’ field can be used to record a small note about the transaction if you want to, and a colour code can also be assigned to the transaction.

Transaction list

The list displays all of your transactions in chronological or reverse-chronological order.

R/S – Displays ‘Recv’ (receive) for a transaction where you received bitcoin, or ‘Spnd’ (spend) for a transaction where you spent bitcoin.

YYYY/MM/DD – The date of the transaction. If a partial date was provided a ‘-‘ will display in the missing fields.

Price – the price paid/received for the transaction (price of 1 bitcoin).

Est. – The type of estimate used to determine the price: DA – daily average, MM – monthly median, AM – annual median, N – not estimated, an accurate price was provided.

Range – If an estimate is being used, this is the potential margin of error. This margin is governed by the amount of price volitility that occurred in the undefined period of time. The more accurate you can be with the date input the lower the margin of error will be.

USD/EUR/GBP/XAU – the amount of fiat currency involved in the transaction. If an estimate was used a ‘Y’ will show under the ‘Est.’ column.

BTC – the amount of bitcoin involved in the transaction. If an estimate was used a ‘Y’ will show under the ‘Est.’ column.

USD/EUR/GBP/XAU total – rolling fiat total.

BTC total – rolling BTC total.

Cost basis – the rolling cost basis (average purchase price) of your bitcoin holdings.

CC – shows the colour code, if one was applied.

🏷️ – denotes whether a label was added to the transaction. If there is a label it can be viewed in full using the button below the table.

The ▲ button can be used to increase the display area of the transaction list.

The chart

The orange plotted line on the chart represents the price of 1 bitcoin since its inception to the present day, with the date along the x axis and the selected fiat currency value on the y axis.

The purple solid line represents your historic cost basis (average purchase price) of all your bitcoin taking all of your past transactions in to account. The purple horizontal dashed line represents the current cost basis. When the value of 1 bitcoin is above this line your bitcoin is worth more in fiat terms than it cost you. The cost basis line can be disabled in the options above the chart.

The vertical green lines show the dates of transactions where you bought or received bitcoin and the red vertical lines show transactions where you sold or spent bitcoin. The transaction lines can be disabled in the options above the chart.

The red and green circles are positioned to show the date of a transaction and the value of bitcoin at the time of the transaction. The radius of the circle is determined by the significance in size of that transaction (in fiat terms) compared to all other transactions of that type. The biggest circles are your biggest transactions. Green circles represent transactions where you’ve bought or received bitcoin and red circles represent transactions where you’ve sold or spent bitcoin. The transaction circles can be disabled in the options above the chart.

The upper-left of the chart shows the values of the closest plotted point to the mouse cursor. You can select which data is tracked in the options above the chart.

Price and date gridlines can be individually disabled in the options above the chart.

The chart can be viewed with either a linear scale or a logarithmic scale at any time with the buttons above the chart.

The ▼ button can be used to increase the display area of the chart.

Finally…

Don’t click the robot. It will just encourage it.