SafePal X1 Wallet is a hardware wallet developed by SafePal, designed to provide secure storage for a wide range of cryptocurrencies. It offers offline, air-gapped protection, ensuring that private keys are never exposed to the internet. The X1 Wallet supports multiple blockchains and tokens, including Bitcoin, Ethereum, Binance Smart Chain, and many others. With Kryptos, you can easily track your SafePal X1 wallet in real-time and gain insights into your holdings, generate holdings and tax reports, and manage your portfolio.
Pick your import method.
On Kryptos
- Go to Kryptos.io & sign up using your Google account.
- From the menu, click on Integrations.
- Select Add Integration
- Search for SafePal X1 Wallet in the search bar.
- Now, click on the SafePal X1 Wallet icon.
- Click on “Connect with SafePal X1 Wallet”
- Scan the QR Code on Kryptos using your SafePal X1 Wallet app.
- Follow the instructions on the SafePal X1 Wallet app.
- Kryptos will automatically read all the wallet addresses.
- Click on “Import your Transactions”
- Sit back and let Kryptos synchronize with all of your wallets from SafePal X1 Wallet.
Note: We currently support wallet connect for Ethereum and EVM chains. For chains like Bitcoin, Dash, Dogecoin, Solana etc, you can add them using “Add Now” in the integration dialogue box separately.
Managing your portfolio with Kryptos
After integrating SafePal X1 wallet, 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 crypto transactions taxed?
- Income Tax: If you earn rewards from staking, lending, or receiving crypto payments, you may need to pay income tax.
- Capital Gains Tax: Profits from selling or disposing of crypto assets, such as SOL, BTC or ETH, are typically subject to capital gains tax.
Kryptos automatically calculates these taxes based on your crypto transaction data, ensuring accuracy and compliance with local regulations.
Troubleshooting and Support
Common Issues
- Invalid Credentials: Make sure to copy the entire wallet address string.
- Sync Failed: Make sure to copy the correct address from the respective network.
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.
FAQs
Can I connect multiple wallets and exchanges?
Absolutely. Kryptos allows you to connect multiple wallets and exchange accounts, providing a comprehensive view of your entire crypto portfolio. This data is then used to calculate your taxes and give you valuable insights.
Do I need to pay taxes on Binance?
Yes, if you have earned income or realized gains from your crypto activities on Binance, you must report these to your tax office and pay taxes accordingly to avoid penalties.
How are transactions measured?
We count transactions from day-1 of your crypto journey and not each year separately, as we need full data from the beginning to calculate your gains accurately.
Is Kryptos free to use?
Yes, Kryptos offers a 7 day free trial so you can experience the platform's features and benefits before subscribing. Learn more about our pricing structure and features now.
Is Kryptos secure enough for individual users?
Kryptos prioritizes security with advanced encryption and multi-factor authentication to protect user data. The platform adheres to high standards of privacy and security, ensuring that your financial information is safe.
Is Kryptos secure?
Yes, Kryptos places a strong emphasis on security. We use industry-standard encryption protocols to protect your data, and all transactions are secured on the blockchain. Your privacy and security are our top priorities.