How to Connect Binance with Kryptos

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API Import
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CSV File Import

How to Connect Binance with Kryptos

by
Varun Mehra
Reviewed by
Sukesh Tedla
8
min read
Last updated:
2023-03-07
Easily connect Binance, track your portfolio, and calculate crypto taxes stress-free with Kryptos

How To Calculate Your Binance Taxes With Kryptos

Binance is one of the most popular exchanges in the world for crypto trading. If you are using Binance, follow these steps to easily connect it with Kryptos – auto-sync all your transactions, analyze your portfolio and calculate your crypto taxes in minutes.

  1. To get started – Sign up on Kryptos here and choose your country and currency.
  2. Once done, link your Binance account to Kryptos. To do this, you can use any of the following three methods: 
  3. API. Add API Keys to Kryptos and import everything at once.
  4. CSV. If you do not have API keys, don't worry! We also support CSV files to import all your transactions.
  5. Manually. Import transactions manually using our custom CSV upload feature.
  6. View and analyze all your transactions in a single dashboard and manage your portfolio
  7. Kryptos automatically categorizes all your Binance transactions into gains/losses or income.
  8. Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from Binance
  9. Generate the Binance tax report for free and download it once everything looks good
  10. File your Binance taxes online or leverage our crypto tax accountant network to help you out

How To Connect Binance With Kryptos Using API

On Binance :

  1. Go to the Binance website and sign in to your account.
  2. Select "API Management" from the drop-down menu under your profile picture in the top right corner of the page.
  3. Select "Create API", choose System Generated & click on Next.
  4. Label your API Key anything you would like.
  5. Your API Key will be generated once you enter your 2FA code.
  6. By default the API Key restrictions are Read-Only.
  7. Make sure to copy and save these keys in a secure location, as you will not be able to view the secret key again.

Note: USD-M futures on Binance is limited to only 4 months of data. Preferred method of integration if you're trading futures will be Integrating binance using CSVs.

On Kryptos :

  1. Go to kryptos.io & signup using your Google account.
  2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
  3. Search for Binance or select it from the list below.
  4. Now, click on the Binance icon.
  5. Choose Import using API Keys.
  6. Paste your API Key & API Secret.
  7. Click on Import Your Transactions. All transactions are directly imported and tagged by default.
  8. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.

How To Connect Binance With Kryptos Using CSV

On Binance :

  1. Log in to your Binance account.
  2. Click on Wallet icon in the top right corner of the page and select "Transaction History" from the dropdown menu.
  3. Click on the "Export Transaction Records" button at the top right-hand corner of the page.
  4. Select the date range for the ledger you want to download.
  5. In the Accounts & Coins dropdown menu, select "ALL"
  6. Click on the "Generate" button.
  7. Once ready, you can download your Transactions Records CSV.

On Kryptos :

  1. Go to kryptos.io & signup using your Google account.
  2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
  3. Search for Binance or select it from the list below.
  4. Now, click on the Binance icon.
  5. Choose Upload CSV
  6. Click on Import Your Transactions. All transactions are imported and tagged by default.
  7. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.

How are Binance transactions taxed?

The crypto tax laws may vary depending on the country you reside in and other factors such as your filing status, income bracket, and marital status. But, in general, there are mainly two types of taxes applicable to Binance transactions.

  • Income Tax- If you are earning rewards (e.g. through lending or staking) or maybe receiving, you may need to pay income tax.
  • Capital Gains Tax- If you profit from the disposal of your crypto assets (e.g. by selling your tokens, Bitcoin,  Ethereum, etc.), you incur capital gains tax. 

Important things to keep in mind while integrating Binance

  1. When importing a CSV file, match your Binance account Time Zone in the Kryptos import form.
  2. While creating a new key, make the API key read-only.
  3. Keep your API Key and API Secret somewhere safe, preferably offline. 

Facing Issues While Connecting Binance To Kryptos?

Go to Resources and head over to the Help Centre page from the dropdown menu. Or send us your queries via the Support Desk. If there’s a critical or urgent issue that needs to be resolved, you can use our live chat option on the right side of the screen or email us at support@kryptos.io.

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