Connect
Coinbase with Kryptos
Over 68 million people use Coinbase to manage their crypto assets—whether buying, selling, staking, or storing. No matter how you use Coinbase, Kryptos makes it easy to handle your taxes safely, quickly, and accurately.
Kryptos simplifies your Coinbase tax reporting, making it straightforward, safe, and fast. Simply sign up and connect your Coinbase account via Coinbase Connect or by uploading a CSV file (instructions are provided below). Kryptos will then gather all your crypto transactions, analyze your portfolio, calculate your gains, losses, and income, and give you a preview of your tax report before you download it.
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 Kryptos
- Go to Kryptos.io and sign in using your account.
- From the menu on the left, select Integrations.
- On the top right, select Add Integration.
- Search for Coinbase and click on the Coinbase icon.
- Select Connect to Coinbase.
- Name your wallet anything you’d like to, and click on Connect to Coinbase.
- You’ll be redirected to Coinbase for authentication. Make sure to “Allow Access” and ensure all your wallet accounts are mentioned.
- Once allowed, Kryptos will begin auto-sync with your Coinbase account.
- Sit back and relax while Kryptos syncs all of your transactions.
On Coinbase
- Log in to your Coinbase account.
- Scroll over the top right-corner icon next to notifications and select Accounts.
- Go to Statements from the menu on the left.
- Locate Generate Custom Statement.
- Select All in assets and transactions.
- Select CSV and click on Generate.
- The account history file will be downloaded in your Downloads folder by default.
Note: Coinbase allows you to download 1 year worth of trading data in a go. You might have to download the statement multiple times to include all transactions from all fiscal years for your Coinbase CSV integration to be error-free.
On Kryptos
- Go to Kryptos.io and sign in using your account.
- From the menu, click on Integrations.
- Search for Coinbase or select it from the list below.
- Now, click on the Coinbase icon.
- Choose Upload CSV.
- Upload the downloaded file.
- Click on Import Your Transactions. All transactions are imported and tagged by default.
Managing Your Portfolio with Kryptos
After integrating your Coinbase 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 Coinbase 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 Coinbase 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 Coinbase.
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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