Handling Spam Tokens Via Address Book Groups

If you have a significant amount of spam tokens, you may want to group them and automate their classification as ignored so they do not affect your financial reports. You can use this tutorial on how to efficiently handle large quantities of spam tokens that you want to ignore.

Step 1

Use Cryptoworth's address book bulk import feature to bulk import all the spam token contract addresses, follow our bulk address book import guide here for this first step.

Input the spam token contract addresses under the Address column, for spam tokens use the Crypto ID -1, input the First Name/Company Name* and Address Type (personal or organizational)* fields.

After your CSV is ready, import your bulk address book file.

Step 2

Create an address book group for the spam tokens.

Search for and select your spam token address book contacts you recently made.

Don't forget to name your address book group.

Step 3

After adding the group, you can now create a classification rule using that address book group as a criteria to classify all transactions related to those contract addresses as spam tokens. 

Head to the Automations tab, you will be creating a classification rule to automatically ignore that address book group of spam tokens (NOTE this assumes you already have a spam token classification).

Step 4

Click on the New Rule button to start creating the classification rule. 

Select the Portfolio level rule scope and continue next.

Name your Rule Name (e.g. spam tokens or spam token group) and continue next.

Select the contract address group criteria, then the spam address book group that you created.

Pair the classification rule to the spam token classification that you have in your chart of accounts.

Confirm the classification rule and all related transactions to the spam token group will be automatically classified and ignored.