How To Calculate Your Bitstamp Taxes With Kryptoskatt

Bitstamp is one of the most popular exchanges in the world for crypto trading. If you are using Bitstamp, follow these steps to easily connect it with Kryptoskatt – auto-sync all your transactions, analyze your portfolio and calculate your crypto taxes in minutes.

1. To get started – Sign up on Kryptoskatt here and choose your country and currency.
2. Once done, link your Bitstamp account to Kryptoskatt. To do this, you can use any of the following three methods: 
3. API. Add API Keys to Kryptoskatt 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. Kryptoskatt automatically categorizes all your Bitstamp 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 Bitstamp
9. Generate the Bitstamp tax report for free and download it once everything looks good
10. File your Bitstamp taxes online or leverage our crypto tax accountant network to help you out

How To Connect Bitstamp With Kryptoskatt Using API

On Bitstamp :

1. Navigate to 'settings' in your Bitstamp profile to find your User ID. Copy it.
2. Click 'API access' on the side panel.
3. Set permissions to 'account balance' and 'user transactions'. Disable all others and omit address filters.
4. Click 'enter 2FA & submit' at the bottom.
5. Copy the displayed API key and secret.
6. Press the 'activate' button and confirm via your email.

On Kryptoskatt :

1. Go to kryptoskatt.com & signup using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Bitstamp or select it from the list below.
4. Now, click on the Bitstamp icon.
5. Choose Import using API Keys.
6. Paste your API Key, API Secret & User ID.
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 Bitstamp With Kryptoskatt Using CSV

On Bitstamp :

1. Within Bitstamp, choose 'deposit' located at the top.
2. Pick deposits older than 90 days.
3. Click on 'export'.
4. Activate all transaction types and every currency visible.
5. Pick a date range that encompasses your full transaction history in Bitstamp.
6. Click 'export selection', and your CSV file will download.

On Kryptoskatt :

1. Go to kryptoskatt.com & signup using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Bitstamp or select it from the list below.
4. Now, click on the Bitstamp 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 Bitstamp 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 Bitstamp 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 Bitstamp

1. When importing a CSV file, match your Bitstamp account Time Zone in the Kryptoskatt 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 Bitstamp To Kryptoskatt?

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@kryptoskatt.com.