Connect
WhiteBit with Kryptos
WhiteBIT is a European cryptocurrency exchange offering spot trading, margin trading, and staking services for various digital assets. It provides a secure, user-friendly platform with features like trading competitions and low transaction fees. WhiteBIT is known for its regulatory compliance and strong security measures, making it suitable for both beginner and advanced traders.
With Kryptos, you can easily track your Whitebit portfolio in real-time and gain insights into your holdings. Simply connect your Whitebit account through 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 Whitebit
- Log in to your WhiteBit account.
- Click on your account icon in the top right and select API from the dropdown menu.
- Click on Edit, then select Generate API Key.
- Select the following permissions:some text
- Balance Transfer
- Wallet Balance and History
- Trade Balance and Order History
- Convert
- Click Confirm.
- Your newly created API key and secret key will be displayed. Copy and save them securely as you won’t be able to view the secret key again.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, click on Add Integration, and select Whitebit.
- 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 Whitebit
- Log in to your Whitebit account at https://Whitebit.
- Select History on the top right.
- Under the Main Balance tab, locate Report on the bottom right, and click on it.
- Choose the date range and leave the Currency and Status blank. (entire account history)
- Click on Generate.
- Now, go to the Trade Balance tab and repeat the steps.
- Repeat the steps on the Collateral Balance tab.
- You will now have 3 CSV files. (make sure you download all of them for an error-free integration)
- Now, select the Reports icon from the menu on the left and download all the generated reports.
- Save the CSV file to your computer.
On Kryptos
- Sign up on Kryptos.io using your Google account.
- Go to Integrations, select Whitebit, and choose Upload CSV.
- Upload the downloaded files and click on Import Your Transactions.
Managing Your Portfolio with Kryptos
After integrating your Whitebit 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 Whitebit 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 Whitebit 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 Whitebit.
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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