How To Calculate Your Digifinex Taxes With Kryptos
Digifinex is one of the most popular exchanges in the world for crypto trading. If you are using Digifinex, follow these steps to easily connect it with Kryptos – auto-sync all your transactions, analyze your portfolio and calculate your crypto taxes in minutes.
- To get started – Sign up on Kryptos here and choose your country and currency.
- Once done, link your Digifinex account to Kryptos. To do this, you can use any of the following three methods:
- API. Add API Keys to Kryptos and import everything at once.
- Manually. Import transactions manually using our custom CSV upload feature.
- View and analyze all your transactions in a single dashboard and manage your portfolio
- Kryptos automatically categorizes all your Digifinex transactions into gains/losses or income.
- Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from Digifinex
- Generate the Digifinex tax report for free and download it once everything looks good
- File your Digifinex taxes online or leverage our crypto tax accountant network to help you out
How To Connect Digifinex With Kryptos Using API
On Digifinex :
- Log in to your Digifinex Exchange account.
- Click on your profile picture in the top right-hand corner of the screen and select "API" from the dropdown menu.
- On the API page, click the "Create API Key" button.
- Give your API key a name and select "Read Only" as the API key type.
- Select the specific permissions you want to grant to the read-only API key, such as "view balance" or "view orders".
- Under "IP Whitelist," select "Any IP address" or enter the IP address of the device(s) you will be using to access the API.
- Click the "Create" button to generate your read-only API key.
- Your API key and secret key will be displayed on the next screen. Be sure to copy your secret key and keep it in a safe place, as it will not be displayed again.
On Kryptos :
- Go to kryptos.io & signup using your Google account.
- From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
- Search for Digifinex or select it from the list below.
- Now, click on the Digifinex icon.
- Choose Import using API Keys.
- Paste your API Key & API Secret.
- Click on Import Your Transactions. All transactions are directly imported and tagged by default.
- If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.
How are Digifinex 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 Digifinex transactions.
- Income Tax- If you are earning rewards (e.g. through lending or staking) or maybe 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, Bitcoin, Ethereum, etc.), you incur capital gains tax.
Important things to keep in mind while integrating Digifinex
- When importing a CSV file, match your Digifinex account Time Zone in the Kryptos import form.
- While creating a new key, make the API key read-only.
- Keep your API Key and API Secret somewhere safe, preferably offline.
Facing Issues While Connecting Digifinex 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 there’s a critical or urgent issue that needs to be resolved, you can use our live chat option on the right side of the screen or email us at email@example.com.