Connect
Coinspot with Kryptos
CoinSpot is an Australian cryptocurrency exchange offering over 360 digital assets for spot trading. It provides a simple, secure platform for users to buy, sell, and trade cryptocurrencies. CoinSpot also supports features like staking and instant crypto purchases with AUD. Known for its user-friendly interface and strong security measures, CoinSpot is a popular choice among Australian crypto traders.
With Kryptos, you can easily track your Coinspot portfolio in real-time and gain insights into your holdings. Simply connect your Coinspot 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 Coinspot
- Log in to your Coinspot account and navigate to the API settings page by clicking on your profile icon in the top-right corner and selecting API.
- Click on Create a new API key.
- Give your API key a name in the Name field.
- Under Permissions, select Read for all the necessary permissions.
- Click Create Key at the bottom of the page.
- Your API key and secret will be displayed. Copy both to a secure location as you will not be able to view them again after leaving this page.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, click on Add Integration, and select Coinspot.
- 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 Coinspot
- Log into your Coinspot account.
- Navigate to your profile by clicking the icon in the top-right corner.
- From the dropdown menu, select Order History.
- Download two CSV files: Sends/Receives and Buys/Sells.
- The transaction history CSV files will be downloaded to your computer.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, select Coinspot, and choose Upload CSV.
- Upload the downloaded files and click on Import Your Transactions.
Managing Your Portfolio with Kryptos
After integrating your Coinspot 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 Coinspot 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 Coinspot 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 Coinspot.
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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