Conflux is a Layer 1 blockchain that integrates Proof of Work (PoW) and Tree-Graph consensus algorithms for scalability, security, and decentralization. It supports fast transactions, high throughput, and low fees, making it ideal for decentralized applications (dApps) and DeFi. Conflux also promotes cross-chain interoperability, allowing seamless asset transfers between different blockchains. Its native token, CFX, is used for transaction fees, staking, and network governance.
With Kryptos, you can easily track your Conflux wallet in real-time and gain insights into your holdings, generate holdings and tax reports, and manage your portfolio.
Pick your import method.
On Conflux
- Go to your Conflux wallet.
- It can be Metamask, Exodus, or any wallet that supports the Conflux Network.
- Copy your wallet address.
On Kryptos
- Go to Kryptos.io & signup using your Google account.
- From the menu, click on Integrations.
- Click on Add Integration, and search for Conflux.
- Now, click on the Conflux icon.
- Select Import using Address
- Name your wallet anything you would like.
- Paste your Conflux wallet address.
- Click on Import Your Transactions. All transactions are directly imported and tagged by default.
Managing your portfolio with Kryptos
After integrating your Conflux wallet, Kryptos offers a suite of tools to help you manage and optimize your portfolio effectively. Here are some key use cases:
- Real-Time Portfolio Tracking: Monitor your crypto assets with real-time insights into holdings, transactions, and market movements for informed decision-making.
- Asset Allocation Insights: Analyze the distribution of your investments, identify overexposures, and rebalance your portfolio to diversify and reduce risk.
- Integrated DeFi & Staking Overview: Manage both traditional crypto assets and DeFi investments, with a consolidated view of earnings and positions.
- Tax-Loss Harvesting: Identify opportunities to sell underperforming assets to offset gains and reduce tax liability, especially during year-end planning.
- Transaction Categorization: Automatically categorize transactions for better organization, making it easier to analyze your portfolio and generate reports.
Tax Reporting
How to generate Tax Reports
Once you have integrated all of your wallets and exchanges, generating tax reports is straightforward:
- Go to Reports from the main menu.
- Scroll down and you’ll see the “Reports” section.
- Choose your desired report and click on the Complete icon to download the report.
How are Conflux transactions taxed?
- Income Tax: If you earn rewards from staking, lending, or receiving crypto payments, you may need to pay income tax.
- Capital Gains Tax: Profits from selling or disposing of crypto assets, such as CFX or BTC, are typically subject to capital gains tax.
Kryptos automatically calculates these taxes based on your Conflux transaction data, ensuring accuracy and compliance with local regulations.
Troubleshooting and Support
Common Issues
- Invalid Credentials: Make sure to copy the entire wallet address string.
- Sync Failed: Make sure to copy the correct address from the respective network.
Support Channels
- Help Center: Visit the Kryptos Help Center for detailed guides and FAQs.
- Live Chat: Use the live chat option on the Kryptos website for immediate assistance.
- Email Support: Contact support@kryptos.io for email support.
FAQs
Can I connect multiple wallets and exchanges?
Absolutely. Kryptos allows you to connect multiple wallets and exchange accounts, providing a comprehensive view of your entire crypto portfolio. This data is then used to calculate your taxes and give you valuable insights.
Do you count each trade or order as a transaction when trading on exchanges?
We only count each order as a transaction not micro trades when you trade on an exchange unlike other Crypto Tax Software's in the market.
Does Kryptos support cross-chain NFT tracking?
Yes, Kryptos consolidates NFTs across multiple blockchains, allowing you to manage all your assets in one unified platform, regardless of the chain they are on.
Does Kryptos offer customer support?
Yes, we offer 24/7 customer support through multiple channels, including email, live chat, and a comprehensive help center, ensuring that you get timely assistance whenever you need it.
Does Binance provide tax documents?
Binance doesn’t issue specific tax reports. However, it partners with various crypto tax apps like Kryptos. These apps can use your Binance transaction data to generate your tax report.
Can I generate financial reports for my NFTs?
Yes, Kryptos generates comprehensive reports detailing all your NFT transactions, perfect for tax preparation, financial reviews, or audits.
How do I get started with Kryptos?
Getting started with Kryptos is easy. Simply sign up, connect your crypto accounts, and start managing your taxes, analytics, and portfolio with our user-friendly interface.