How to connect Cosmos(ATOM) Wallet with Kryptos & Generate Tax Reports

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How to connect Cosmos(ATOM) Wallet with Kryptos & Generate Tax Reports

by
Varun Mehra
Reviewed by
Sukesh Tedla
5
min read
Last updated:
2023-06-16
Follow the steps below and get insights into your Cardano portfolio and file your crypto taxes stress free with Kryptos

How To Calculate Your Cosmos Taxes With Kryptos

If you are using Cosmos(ATOM), follow these steps to connect it with Kryptos – auto-sync all your transactions, analyze your portfolio, and calculate your crypto taxes in minutes. We help users with Defi Taxes and show their DeFi portfolio overview as well.

  1. To get started – Sign up on Kryptos here and choose your country and currency.
  2. Once done, link your Cosmos wallet to Kryptos. 
  3. View and analyze all your transactions in a single dashboard and manage your portfolio
  4. Kryptos automatically categorizes all your Cosmos transactions into gains/losses or income.
  5. Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from Cosmos Blockchain.
  6. Generate the Cosmos tax report for free and download it once everything looks good.
  7. File your Cosmos taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Cosmos With Kryptos 

On Cosmos :

  1. Go to your Cosmos Wallet
  2. It can be Keplr, Cosmostation, or any wallet that supports the Cosmos(ATOM).
  3. We support all major Cosmos wallets like Keplr, Cosmostation, Exodus, Lunie, Trust Wallet, and many more!
  4. Copy your wallet address.

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 Cosmos or select it from the list below.
  4. Now, click on the Cosmos icon.
  5. Name your wallet anything you would like.
  6. Paste your Cosmos wallet address.
  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.
  9. Sit back and let Kryptos generate the report for you!

Note: If you wish to accurately calculate all of your Cosmos(ATOM) capital gains taxes, make sure to add all the wallets consisting of your Cosmos Trading history.

How are Cosmos 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 Cosmos transactions.

  • Income Tax- If you are earning rewards (e.g. through lending or staking) or 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, ATOM, BTC, ETH, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Cosmos

  • In your wallet, make sure you’ve selected the correct network.
  • Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting Cosmos 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 a critical or urgent issue 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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