How To Calculate Your B² Taxes With Kryptos

B² Network is a Bitcoin layer-2 scaling solution that enhances Bitcoin's capabilities by making transactions faster and cheaper. Utilizing Bitcoin Proof-of-Work (PoW) and Zero-Knowledge Proof (ZKP) technology, it offers over 50x cost reduction and 300x speed improvement compared to the Bitcoin network.

1. To start, sign up on Kryptos and choose your country and currency.
2. Once done, link your B² wallet to Kryptos.
3. View and analyze all your transactions in a single dashboard and manage your portfolio.
4. Kryptos automatically categorizes all your B² transactions into gains/losses or income.
5. Now you can relax while we calculate your Capital Gains Tax and Income Tax from B² Blockchain.
6. Generate the B² tax report for free and download it once everything looks good.
7. File your B² taxes online or leverage our crypto tax accountant network to help you out.

How To Connect B² With Kryptos

On B²:

1. Go to your  Wallet.
2. We support all major B² wallets like MetaMask, Trust Wallet, MyEtherWallet, and many more!
3. Copy your wallet address.

On Kryptos:

1. Go to Kryptos.io & sign up using your Google account.
2. From the menu, click on Wallets/Exchanges. 
3. Search for B² or select it from the list below.
4. Now, click on the B² icon.
5. Name your wallet anything you would like.
6. Paste your B² wallet address.
7. Click on Import Your Transactions. All transactions are directly imported and tagged by default.
8. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.
9. Sit back and let Kryptos generate the report for you!

Note: If you wish to accurately calculate your B² capital gains taxes, add all the wallets of your B² Trading history.

How are B² transactions taxed?

The crypto tax laws may vary depending on the country you reside in and other factors such as your filing status, income bracket, and marital status. But, in general, there are mainly two types of taxes applicable to B² transactions:

• Income Tax: If you are earning rewards (e.g., through lending or staking) or receiving, you may need to pay income tax.
• Capital Gains Tax: If you profit from the disposal of your crypto assets (e.g., by selling your tokens), you incur capital gains tax.

Essential things to keep in mind while integrating B²

• In your wallet, make sure you’re copying the address from the correct network.
• Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting B² To Kryptos?

• Go to Resources and head over to the Help Centre page from the dropdown menu.
• Send your queries via the Support Desk.
• For critical or urgent issues, use the live chat option on the right side of the screen or email us at support@kryptos.io.