How To Calculate Your Bitrue Taxes With Kryptos

Bitrue is one of the most popular exchanges in the world for crypto trading. If you are using Bitrue, 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 Bitrue 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 Bitrue 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 Bitrue
9. Generate the Bitrue tax report for free and download it once everything looks good
10. File your Bitrue taxes online or leverage our crypto tax accountant network to help you out

Note: We only support Spot trading, Deposits & Withdrawals. For any other transaction type, you can choose to add them manually after integrating Bitrue to Kryptos.

How To Connect Bitrue With Kryptos Using API

On Bitrue :

1. Log in to your Bitrue account.
2. Click on your Profile Icon in the top right corner and select "API" from the dropdown menu.
3. On the API page, choose a name for your API key.
4. Click on Create API Key.
5. If you have enabled 2FA, complete the authentication.
6. On your email account linked with the exchange, click on the verification link sent by Bitrue.
7. Select "Not Limited to any IP" for IP restrictions.
8. Bitrue will generate an API key and a secret key for you. Keep these keys safe and secure as they allow access to your account. Note that the secret key will only be displayed once, so make sure to copy it down or save it in a secure location.

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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 Bitrue or select it from the list below.
4. Now, click on the Bitrue 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 Bitrue With Kryptos Using CSV

On Bitrue :

1. Log in to your Bitrue account.
2. Click on your Assets in the top right corner and select "Overview" from the dropdown menu.
3. Select "Export Asset Transaction History"
4. Bitrue will generate a CSV file of your trade history data. The file will contain information such as the trade ID, date and time of the trade, the trading pair, the type of trade (buy/sell), the amount of the trade, and the price at which the trade was executed.
5. Download all the files and choose the relevant ones for your Tax Reports.
6. You can download the CSV file by clicking the "Download" button.

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 Bitrue or select it from the list below.
4. Now, click on the Bitrue 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.

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How are Bitrue 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 Bitrue 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 Bitrue

1. When importing a CSV file, match your Bitrue 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 Bitrue 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.