How To Calculate Your Huobi Taxes With Kryptos

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

How To Connect Huobi With Kryptos Using API

On Huobi :

1. Log in to your Huobi account.
2. On the top right corner, look for the Profile Icon & select it. 
3. In the drop-down menu, look for API Management.
4. Under Notes, you can name your API Key anything you would like. 
5. Select Read-Only under Permission Settings.
6. You can choose to bind IP addresses with the API Key for an added layer of security in the next step.
7. Click on Create, and check the risk reminders. Click on I Understand.
8. Put in your 2-Factor Authentication.
9. Confirm the actions on your email account.
10. Copy the API Key & the API Secret, and make sure to save them somewhere.

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

On Huobi :

1. Log in to your Huobi account.
2. Go to Orders on the top right corner, and select Spot & Margin.
3. Go to the Order History tab.
4. Select the time frame and & assets for which you want to calculate taxes.
5. Click on the export icon on the top right, next to Hide Cancelled Orders.
6. The CSV will be downloaded to your Downloads folder.

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

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