WhiteBIT is a European cryptocurrency exchange offering spot trading, margin trading, and staking services for various digital assets. It provides a secure, user-friendly platform with features like trading competitions and low transaction fees. WhiteBIT is known for its regulatory compliance and strong security measures, making it suitable for both beginner and advanced traders.
With Kryptos, you can easily track your Whitebit portfolio in real-time and gain insights into your holdings. Simply connect your Whitebit account through CSV (see instructions below). Kryptos consolidates your transactions, provides a comprehensive view of your assets, and keeps your tax reporting ready in the background.
Pick your import method.
On Whitebit
- Log in to your WhiteBit account.
- Click on your account icon in the top right and select API from the dropdown menu.
- Click on Edit, then select Generate API Key.
- Select the following permissions: Balance TransferWallet Balance and HistoryTrade Balance and Order HistoryConvert
- Balance Transfer
- Wallet Balance and History
- Trade Balance and Order History
- Convert
- Click Confirm.
- Your newly created API key and secret key will be displayed. Copy and save them securely as you won’t be able to view the secret key again.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, click on Add Integration, and select Whitebit.
- Choose Import using API Keys, paste your API Key & Secret, and click on Import Your Transactions.
- For custom history, select Advanced Options to specify the date range.
Managing Your Portfolio with Kryptos
After integrating your Whitebit 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 Whitebit 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 Whitebit 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 Whitebit.
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 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.
How are transactions measured?
We count transactions from day-1 of your crypto journey and not each year separately, as we need full data from the beginning to calculate your gains accurately.
How can I contact Kryptos support?
How does Kryptos simplify transaction tracking?
Kryptos provides a unified platform that aggregates and synchronizes your transactions from multiple sources, offering a single, streamlined view that simplifies monitoring and management of all your crypto transactions.
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.