How to connect Osmosis with Kryptos

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How to connect Osmosis with Kryptos

by
Varun Mehra
Reviewed by
5
min read
Last updated:
2024-05-02
Follow the steps below and get insights into your Osmosis portfolio and file your crypto taxes stress free with Kryptos

How To Calculate Your Osmosis Taxes With Kryptos

Osmosis is a decentralized, non-custodial automated market maker (AMM) built on the Cosmos network, designed for cross-chain token pools and swaps. It allows users to create liquidity pools, trade tokens, and earn transaction fees as well as staking rewards in a highly customizable and interoperable ecosystem.

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

How To Connect Osmosis With Kryptos 

On Osmosis :

  1. Go to your Osmosis Wallet
  2. We support all major Osmosis wallets like Keplr, Cosmostation, Leap, Trust Wallet, and many more!
  3. 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 Osmosis or select it from the list below.
  4. Now, click on the Osmosis icon.
  5. Name your wallet anything you would like.
  6. Paste your Osmosis 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 Osmosis(OSMO) capital gains taxes, make sure to add all the wallets consisting of your Osmosis Trading history.

We currently support Deposits, Withdrawals, Balances, Swaps, Staking & Rewards.
We’ll be adding support for Osmosis DeFi shortly.

How are Osmosis 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 Osmosis 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, OSMO, INJ, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Osmosis

  • In your wallet, make sure you’re copying the address from the correct network.
  • Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting Osmosis 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.

Ready To Experience A Stress-Free Crypto Tax Journey?

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