How To Calculate Your HitBTC Taxes With Kryptos

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

How To Connect HitBTC With Kryptos Using API

On HitBTC :

1. Log in to your HitBTC account at https://hitbtc.com/.
2. Click on your profile icon at the top right of the screen and select "API keys" from the dropdown menu.
3. Click on the "New API key" button.
4. Enter a name for the API key (e.g. "Read-only key") in the "Label" field.
5. Under "Permissions," select "Orderbook, history, and trading balance" checkbox.
6. Make sure that "No" option is selected in "Trading" checkbox.
7. Click on the "Save" button to generate the API key.
8. A pop-up window will appear with the message "Your API key and secret have been created." Click on the "Copy" button to copy the API key to your clipboard.
9. Click on the "Download" button to download the secret key file to your computer.
10. Save the secret key file to a safe and secure location on your computer.
11. Click on the "Close" button to close the pop-up window.

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

On HitBTC :

1. Log in to your HitBTC account.
2. Click on your profile icon at the top right of the screen and select "Reports" from the dropdown menu.
3. In the "Reports" section, click on the "Trading" tab.
4. Select the date range for which you want to download the trade history by clicking on the calendar icon and selecting the start and end dates.
5. Select the currency pair for which you want to download the trade history from the dropdown menu.
6. Click on the "Export" button located at the top right of the screen.
7. Save the CSV file to your preferred location on your computer.

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

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