How To Calculate Your Bitbuy Taxes With Kryptos

Bitbuy is one of the most popular exchanges in the world for crypto trading. If you are using Bitbuy, follow these steps to easily 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 Bitbuy account to Kryptos. To do this, you can use any of the following three methods: 
3. API. Add API Keys to Kryptos and import everything at once.
4. CSV. If you do not have API keys, don't worry! We also support CSV files to import all your transactions.
5. Manually. Import transactions manually using our custom CSV upload feature.
6. View and analyze all your transactions in a single dashboard and manage your portfolio
7. Kryptos automatically categorizes all your Bitbuy transactions into gains/losses or income.
8. Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from Bitbuy
9. Generate the Bitbuy tax report for free and download it once everything looks good
10. File your Bitbuy taxes online or leverage our crypto tax accountant network to help you out

How To Connect Bitbuy With Kryptos Using API

On Bitbuy :

1. Log in to your Bitbuy.ca account.
2. Click on your profile picture at the top right corner of the page, and select "API Keys" from the drop-down menu.
3. Click on the "Create API Key" button to create a new API key.
4. Give a name to your API key in the "API Key Label" field.
5. Select the "Read-Only" option from the "Permission" drop-down menu.
6. Click on the "Create" button to generate the API key.
7. Note down the "API Key" and "API Secret" that are displayed on the page. You will not be able to view the API Secret again, so make sure to copy it down somewhere safe.

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 Bitbuy or select it from the list below.
4. Now, click on the Bitbuy icon.
5. Choose Import using API Keys.
6. Paste your API Key & API Secret.
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.

How To Connect Bitbuy With Kryptos Using CSV

On Bitbuy :

1. Log in to your Bitbuy account on the Bitbuy.ca website.
2. Click on the "Activity" tab at the top of the page.
3. Select "Transaction History" from the dropdown menu.
4. Choose the date range for which you want to generate the trade history CSV file.
5. Click on the "Export" button at the top right corner of the page.
6. Select "CSV" from the available file formats and click on "Export."

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 Bitbuy or select it from the list below.
4. Now, click on the Bitbuy icon.
5. Choose Upload CSV.
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 are Bitbuy 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 Bitbuy 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 Bitbuy

1. When importing a CSV file, match your Bitbuy account Time Zone in the Kryptos import form.
2. While creating a new key, make the API key read-only.
3. Keep your API Key and API Secret somewhere safe, preferably offline. 

Facing Issues While Connecting Bitbuy 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 support@kryptos.io.