From Crypto Trades to Taxes: Kryptos's Exciting Partnership with Deribit

by
Sukesh Tedla
Reviewed by
min read
Last updated:

Kryptos, a leading crypto tax software backed by Binance Labs and Gate.io Labs, is thrilled to announce its collaboration with Deribit, the world's largest crypto-options exchange, accounting for more than 90% of the market share in BTC and ETH options.

From features like Zero Fee Spot Trading for BTC to their unique tools like Options Wizard, Price Ladder, Proof of Reserves, and many more, Deribit is shaping the crypto options industry for every trader.

Now, this partnership aims to simplify the crypto tax calculation process for Deribit users by offering seamless integration with Kryptos's platform.

Partnership Highlights

The partnership between Kryptos and Deribit is set to revolutionize the way users handle their cryptocurrency transactions. 

Users can now effortlessly link their Deribit accounts, enabling automatic synchronization of all transactions. Users can view and manage their entire portfolio on a unified dashboard, making it easier to track and analyze their crypto investments. Kryptos's advanced algorithms categorize Deribit transactions into gains/losses or income, ensuring simplified tax calculations. After reviewing their data, users can easily generate and download their Deribit tax report.

Special Promotional Offer

To kick off the partnership, Kryptos is excited to offer a 20% discount to all Deribit users. 

Redeem the offer using two simple steps:

  • Choose the plan that suits your needs 
  • Use the code “DERIBIT20” during the checkout.

Integration Details

Connect your Deribit account to Kryptos using one of two methods:

  • API: Simply add your API keys to Kryptos for a one-time import of all transactions.
  • CSV: No API keys? No problem! Kryptos also supports CSV file imports. Upload your CSV file on Kryptos and see all the transactions in the dashboard.

Once linked, Kryptos calculates Capital Gains Tax and Income Tax from the Deribit transactions.

To know the step-by-step process, refer to the Deribit Integration Guide.

About Deribit

Deribit is a leading crypto futures, spot and options trading platform based in Panama City, Panama. Deribit’s state-of-the-art system architecture ensures the fastest performance in the market, making it the first choice for algorithmic and HF traders. Deribit is the market leader in crypto options, with a market share of around 90%.

About Kryptos

Kryptos is a global crypto tax compliance software that simplifies Web3 finance for clients around the world. It is backed by Binance Labs and Gate.io Labs, two of the leading cryptocurrency exchanges in the world.

Kryptos offers a comprehensive suite of solutions that include accounting, portfolio management, and tax reporting. It supports over 2000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains. This makes it the one-stop shop for all Web3 finance needs.

All content on Kryptos serves general informational purposes only. It's not intended to replace any professional advice from licensed accountants, attorneys, or certified financial and tax professionals. The information is completed to the best of our knowledge and we at Kryptos do not claim either correctness or accuracy of the same. Before taking any tax position / stance, you should always consider seeking independent legal, financial, taxation or other advice from the professionals. Kryptos is not liable for any loss caused from the use of, or by placing reliance on, the information on this website. Kryptos disclaims any responsibility for the accuracy or adequacy of any positions taken by you in your tax returns. Thank you for being part of our community, and we're excited to continue guiding you on your crypto journey!

CountryIssueKryptos Use Case
IndiaCryptocurrency transactions are taxed as capital gains, with evolving legislation creating uncertainty.Kryptos.io streamlines the process by automatically tracking transactions and computing capital gains, adjusting to new regulations for precise reporting.
BrazilCryptocurrencies are subject to capital gains tax and must be reported, posing challenges with complex requirements.Kryptos.io simplifies compliance by offering real-time transaction tracking and detailed tax calculations, making it easier to meet Brazil’s tax obligations.
NigeriaRegulatory framework for cryptocurrencies is evolving, with uncertainty around taxation and restrictions from the Central Bank.Kryptos.io provides an adaptable solution by maintaining detailed records and generating flexible reports, helping users stay compliant despite regulatory changes.
USACryptocurrency transactions are subject to capital gains tax, with detailed IRS reporting requirements.Kryptos.io enhances compliance by automating the tracking of transactions and generating comprehensive tax reports, facilitating adherence to IRS requirements.
UKCryptocurrencies are taxed under both capital gains tax and income tax, requiring careful tracking and reporting.Kryptos.io aids UK users by monitoring both capital gains and income from crypto transactions, ensuring accurate and straightforward tax reporting.
AustraliaCryptocurrencies are subject to capital gains tax, and users must report their gains and losses to the ATO.Kryptos.io assists Australian users by providing seamless transaction tracking and precise capital gains calculations, ensuring efficient compliance with ATO reporting requirements.
GermanyCryptocurrencies are taxed as private assets with gains subject to tax if held for less than a year.Kryptos.io supports German users by tracking holding periods and computing taxes on cryptocurrency transactions, ensuring adherence to German tax regulations.
JapanCryptocurrency gains are treated as miscellaneous income and are subject to high tax rates.Kryptos.io helps Japanese users by offering a detailed tracking system and calculating taxes on miscellaneous income, efficiently managing high tax obligations.
ScenarioDescriptionKryptos Features that can be of aid
Multiple Exchanges and WalletsConsolidating records from various exchanges and wallets to maintain a comprehensive overview of crypto activities.Seamless integration with numerous exchanges and wallets, automatic import, and consolidation of records.
International TransactionsManaging records for cross-border transactions, including currency conversions and compliance with international tax laws.Support for multiple currencies, efficient management of cross-border activities, accurate currency conversion for reporting.
Complex TransactionsHandling trades, swaps, staking, lending, and other sophisticated crypto activities.Advanced tracking, reporting, and documentation for various transaction types. Kryptos' DeFi and NFT modules offer specialized tools for managing decentralized finance and NFT activities, ensuring precise records and comprehensive oversight.

How we reviewed this article

Written by
Sukesh Tedla

Founder & CEO - Kryptos , Chairman and Board Member at Swedish Blockchain Association, Top Blockchain Industry Thought Leader.

Reviewed by

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From Crypto Trades to Taxes: Kryptos's Exciting Partnership with Deribit

By
Sukesh Tedla
On

Kryptos, a leading crypto tax software backed by Binance Labs and Gate.io Labs, is thrilled to announce its collaboration with Deribit, the world's largest crypto-options exchange, accounting for more than 90% of the market share in BTC and ETH options.

From features like Zero Fee Spot Trading for BTC to their unique tools like Options Wizard, Price Ladder, Proof of Reserves, and many more, Deribit is shaping the crypto options industry for every trader.

Now, this partnership aims to simplify the crypto tax calculation process for Deribit users by offering seamless integration with Kryptos's platform.

Partnership Highlights

The partnership between Kryptos and Deribit is set to revolutionize the way users handle their cryptocurrency transactions. 

Users can now effortlessly link their Deribit accounts, enabling automatic synchronization of all transactions. Users can view and manage their entire portfolio on a unified dashboard, making it easier to track and analyze their crypto investments. Kryptos's advanced algorithms categorize Deribit transactions into gains/losses or income, ensuring simplified tax calculations. After reviewing their data, users can easily generate and download their Deribit tax report.

Special Promotional Offer

To kick off the partnership, Kryptos is excited to offer a 20% discount to all Deribit users. 

Redeem the offer using two simple steps:

  • Choose the plan that suits your needs 
  • Use the code “DERIBIT20” during the checkout.

Integration Details

Connect your Deribit account to Kryptos using one of two methods:

  • API: Simply add your API keys to Kryptos for a one-time import of all transactions.
  • CSV: No API keys? No problem! Kryptos also supports CSV file imports. Upload your CSV file on Kryptos and see all the transactions in the dashboard.

Once linked, Kryptos calculates Capital Gains Tax and Income Tax from the Deribit transactions.

To know the step-by-step process, refer to the Deribit Integration Guide.

About Deribit

Deribit is a leading crypto futures, spot and options trading platform based in Panama City, Panama. Deribit’s state-of-the-art system architecture ensures the fastest performance in the market, making it the first choice for algorithmic and HF traders. Deribit is the market leader in crypto options, with a market share of around 90%.

About Kryptos

Kryptos is a global crypto tax compliance software that simplifies Web3 finance for clients around the world. It is backed by Binance Labs and Gate.io Labs, two of the leading cryptocurrency exchanges in the world.

Kryptos offers a comprehensive suite of solutions that include accounting, portfolio management, and tax reporting. It supports over 2000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains. This makes it the one-stop shop for all Web3 finance needs.

All content on Kryptos serves general informational purposes only. It's not intended to replace any professional advice from licensed accountants, attorneys, or certified financial and tax professionals. The information is completed to the best of our knowledge and we at Kryptos do not claim either correctness or accuracy of the same. Before taking any tax position / stance, you should always consider seeking independent legal, financial, taxation or other advice from the professionals. Kryptos is not liable for any loss caused from the use of, or by placing reliance on, the information on this website. Kryptos disclaims any responsibility for the accuracy or adequacy of any positions taken by you in your tax returns. Thank you for being part of our community, and we're excited to continue guiding you on your crypto journey!

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