How To Calculate Your Binance DApp (by SafePal) Taxes With Kryptos

If you are using Binance DApp, follow these steps to connect it with Kryptos – auto-sync all your transactions, analyze your portfolio, and calculate your crypto taxes in minutes.

1. To get started – Sign up on Kryptos here and choose your country and currency.
2. Once done, link your Binance DApp to Kryptos.
3. View and analyze all your transactions in a single dashboard and manage your portfolio.
4. Kryptos automatically categorizes all your Binance DApp 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 your Binance DApp account!
6. Generate the Binance DApp tax report for free and download it once everything looks good.
7. File your Binance DApp taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Binance With Kryptos 

On Binance DApp :

1. Go to the Dapp Centre on your SafePal app.
2. Tap on “Binance”
3. Inside the Binance DApp Dapp, look for "Transaction History" icon under “Wallets”.
4. Choose your desired time-frame and tap on Generate.
5. Once the Transaction History is generated, tap on Download.
6. The CSV file consisting of you transaction history will be stored in your device.

You can refer to SafePal’s guide for detailed instructions: Binance DApp (by SafePal)

On Kryptoskatt :

1. Go to Kryptos.io & signup/sign-in using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Binance DApp.
4. Now, click on the Binance DApp icon.
5. Choose Upload CSV, upload your downloaded CSV file.
6. Click on Import Your Transactions. All transactions are imported and tagged by default.
7. If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.

How to download Binance DApp Tax Reports

1. Once synchronization finishes, head to Reports under Menu on Kryptos.
2. Under summary, click on the Download Tax Report button.
3. Choose your Tax Report Type and click on download. 

How are Binance DApp 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, etc.. But, in general, there are mainly two types of taxes applicable to Binance DApp 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, ETH, BNB, UNI, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Binance DApp

• Make sure to integrate historical exchanges relevant to your transaction history overall.
• Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting Binance DApp 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