Connect
Bithumb with Kryptos
Bithumb is a leading cryptocurrency exchange based in South Korea, offering spot trading and other services for a wide range of digital assets. It is known for its high liquidity, strong security measures, and regulatory compliance. Bithumb supports various cryptocurrencies and provides both retail and institutional investors with advanced trading tools. The platform is popular in the Asian market and offers competitive fees.
With Kryptos, you can easily track your Bithumb portfolio in real-time and gain insights into your holdings. Simply connect your Bithumb 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 Bithumb
- Sign in to Bithumb.
- Select the menu icon and choose API Management.
- Create a new API key (you may be required to perform two-factor verification during this step).
- Note your API key and secret—the API secret will not be shown again.
- Activate your API keys by clicking on Activate on the API Management page.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, click on Add Integration, and select Bithumb.
- 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.
On Bithumb
- Log in to your Bithumb account.
- Go to the Wallet section and access your Trade History.
- Download your transaction history by selecting the Download icon.
- Choose a time frame (maximum limit is 6 months). You may need to download multiple CSV files to cover your full history.
- Select All transactions and then click on Download to obtain the CSV file(s).
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, select Bithumb, and choose Upload CSV.
- Upload the downloaded files and click on Import Your Transactions.
Managing Your Portfolio with Kryptos
After integrating your Bithumb 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 Bithumb 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 Bithumb 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 Bithumb.
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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