Connect
Binance with Kryptos
Binance is a leading crypto exchange, trusted by millions for trading and managing digital assets. With Kryptos, you can easily track your Binance portfolio in real-time and gain insights into your holdings. Simply connect your Binance account through API or CSV (see instructions below). Kryptos consolidates your transactions, provides a comprehensive view of your assets, and keeps your tax reporting ready in the background.
On Kryptos:
- Go to Integrations, click Add Integration, and select Add Custom Wallet.
- Name and create your wallet, then click on the wallet icon.
- Select Import File, download the Kryptos Sample File, and fill it with your transaction data.
Upload the completed file and click Import Transactions to sync.
On Binance:
- Log in to your Binance account.
- Select “API Management” from the drop-down menu under your profile picture.
- Select “Create API,” choose System Generated, and click on Next.
- Label your API Key and generate it by entering your 2FA code.
- Copy and securely save your API Key and Secret. They will not be shown again.
On Kryptos:
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, click on Add Integration, and select Binance.
- 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.
Good to know
- USD-M & Coin-M futures on Binance are limited to 3 months of data. If trading futures, consider using CSV integration.
- Binance does not provide Dust Converts and Referral Rebate transaction data via APIs
- If you have multiple subaacounts, you will need to create separate API keys for each subaacount.
On Binance:
- Log in to your Binance account.
- Click on the Wallet icon and select Transaction History.
- Click on Export Transaction Records, select the date range, and generate the CSV file.
- Download the file once it’s ready.
Note: Ensure you download your entire trading history, including files from multiple years if necessary.
On Kryptos:
- Sign up on Kryptos.io using your Google account
- Go to Integrations, select Binance, and choose Upload CSV.
Upload the downloaded file and click on Import Your Transactions.
Managing your portfolio with Kryptos
After integrating your Binance 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.
- Price Alerts & Notifications: Set alerts to stay updated on market movements, ensuring you can act quickly to buy, sell, or adjust positions.
- 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 Binance 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 Binance 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 Binance
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.
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