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ByBit with Kryptos

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OAuth Import
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API Import
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CSV File Import
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Manual Import
Last updated:
2024-10-03
10
min read

Bybit is a cryptocurrency exchange known for derivatives and futures trading, offering up to 100x leverage. It also provides spot trading, staking, and a user-friendly interface with advanced trading tools. Bybit supports a variety of crypto assets and is popular among both retail and institutional traders for its liquidity and robust security features.

With Kryptos, you can easily track your ByBit portfolio in real-time and gain insights into your holdings. Simply connect your ByBit 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

  1. Go to Integrations, click Add Integration, and select Add Custom Wallet.
  2. Name and create your wallet, then click on the wallet icon.
  3. Select Import File, download the Kryptos Sample File, and fill it with your transaction data.
  4. Upload the completed file and click Import Transactions to sync.

On ByBit

  1. Log in to your ByBit account.
  2. Click your account icon and navigate to API Management.
  3. Click Create New Key, name it, and set permissions to Read Only.
  4. Select the transaction types for tax reporting.
  5. Complete security verification and create your API key.
  6. Copy the API key and secret and save them securely (they won’t be shown again).

On Kryptos

  1. Sign up on Kryptos.io using your Google account.
  2. Go to Integrations, click on Add Integration, and select ByBit.
  3. Choose Import using API Keys, paste your API Key & Secret, and click on Import Your Transactions.
  4. For custom history, select Advanced Options to specify the date range.

On ByBit

  1. Export your Consolidated Statements from ByBit here.
  2. Select the relevant data types and the date range (max 12 months at a time).
  3. Click Export and wait for the download notification.
  4. Unzip the downloaded file (refer to ByBit’s guide here).

Good to know

• Export subaccount transactions separately; consolidated statements include only the main account.

• Import all files from main and subaccounts to the same wallet on Kryptos or create separate wallets and manually track transfers.

On Kryptos

  1. Sign up on Kryptos.io using your Google account.
  2. Go to Integrations, select ByBit, and choose Upload CSV.
  3. Upload the downloaded files and click on Import Your Transactions.

Managing Your Portfolio with Kryptos

After integrating your ByBit 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 ByBit 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 ByBit 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 ByBit.
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.

Written by
Varun Mehra
Head of Integrations and Customer Experience
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Frequently asked questions

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