If you’re using Koinly for crypto tax management but want to migrate to Kryptos, follow these steps to ensure a smooth transition. Kryptos allows you to transfer all your existing transaction data seamlessly and continue tracking your crypto portfolio.
Pick your import method.
On Koinly
- Log in to your Koinly account and navigate to the Transactions page.
- Click on the three dots next to the Add Transaction button.
- From the dropdown menu, select Export/Import.
- Click on Download to export all your transactions. The CSV file will be saved in your Downloads folder by default.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, select Koinly, and choose Upload CSV.
- Upload the downloaded files and click on Import Your Transactions.
Managing Your Portfolio with Kryptos
After integrating your Koinly account, 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 Koinly Transactions Taxed?
- Income Tax: If you earn rewards from staking, lending, or receive crypto payments, you may need to pay income tax.
- Capital Gains Tax: Profits from selling or disposing of crypto assets, such as Bitcoin or Ethereum, are typically subject to capital gains tax.
Kryptos automatically calculates these taxes based on your Koinly transaction data, ensuring accuracy and compliance with local regulations.
Security Measures
- Generate Secure API Keys: Ensure your API keys are read-only and store them securely.
- Regular Updates: Regularly update your API keys and review their permissions.
- Offline Storage: Store your API Secret key offline to prevent unauthorized access.
Troubleshooting and Support
Common Issues
- API Errors: Ensure your API keys are correct and have the necessary permissions.
- CSV Upload Issues: Verify the naming of the CSV files as mentioned above.
- Missing Transactions on CSV: Check the date range and account settings on Koinly.
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.
Does Kryptos support multiple DeFi protocols and wallets?
Yes! Kryptos integrates with a wide range of DeFi protocols and wallets, allowing you to sync your data seamlessly for a complete, transparent view of your DeFi assets across platforms.
Is Kryptos secure?
Yes, Kryptos places a strong emphasis on security. We use industry-standard encryption protocols to protect your data, and all transactions are secured on the blockchain. Your privacy and security are our top priorities.
How does Kryptos help with crypto tax calculations?
Kryptos automates the process of calculating taxes on crypto transactions by using real-time data and compliance with local crypto tax regulations. This helps individuals accurately report their taxes and reduce the manual effort involved.
How does Kryptos handle real-time portfolio insights?
Kryptos provides real-time updates on your portfolio’s value, including transaction statuses and market changes, ensuring that you always have the most accurate data at your fingertips.
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.