How To Calculate Your MEXC Taxes With Kryptos

MEXC Exchange is a global cryptocurrency trading platform offering various digital assets and derivatives. It is known for its user-friendly interface, diverse trading pairs, and advanced security measures. If you are using MEXC, 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 MEXC 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 (refer to our Manual Transactions Guide).
6. View and analyze all your transactions in a single dashboard and manage your portfolio
7. Kryptos automatically categorizes all your MEXC 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 MEXC
9. Generate the MEXC tax report for free and download it once everything looks good
10. File your MEXC taxes online or leverage our crypto tax accountant network to help you out

How To Connect MEXC With Kryptos Using API

On MEXC :

1. Log in to your MEXC account.
2. Click on the profile icon located in the top-right corner.
3. Choose "API" from the dropdown menu.
4. In the "Manage API/Create New API Key" section, enable all boxes with read permissions, as Kryptos requires read-only access.
5. Click "Create" to proceed.
6. Input the email verification code or 2FA verification code when prompted.
7. Confirm the action by selecting "Confirm."
8. Save the API Key and API Secret somewhere as it won’t be shown to you again.
9. Copy both the API key (access key) and secret key for future use.

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

Note: MEXC gives out previous 30 days API data which might cause overall calculation errors. We recommend CSV uploads for MEXC.

How To Connect MEXC With Kryptos Using CSV

To get all of the calculations right from our platform, you must download multiple CSV files from MEXC. To download all of the relevant CSVs, follow these steps:

On MEXC :

Withdrawals & Deposits History

1. Log in to your MEXC account.
2. Click on "Wallets" in the top-right corner.
3. Select "History" from the dropdown menu.
4. Choose "Export Wallet History."
5. Under "Type," select "Deposit."
6. Pick a date range covering your entire trading history on MEXC, noting the maximum time period is 12 months (you may need multiple CSV files).
7. Click "Generate" and then "Confirm."
8. Download the report when it's ready.
9. Next, under "Type," choose "Withdraw" from the dropdown menu.
10. Repeat steps 6-8 for the Withdrawal history.
11. If you have transactions under the "Other" tab in this section, follow these steps again to obtain those records.

Spot Trade History 

1. Log in to your MEXC account.
2. Click on "Orders" in the top-right corner.
3. Select "Spot Orders" from the dropdown menu.
4. Navigate to the "Trade History" tab.
5. Choose "Export Trade History."
6. Under "Trading Pair," select "All."
7. For "Side," also select "All."
8. Pick a date range that covers your entire trading history on MEXC, keeping in mind the maximum time period is 12 months (multiple CSV files may be needed).
9. Click "Generate" and then "Confirm."
10. Download the report once it becomes available.

Futures Trade History

1. Log in to your MEXC account.
2. Click on "Orders" in the top-right corner.
3. Select "Futures Orders" from the dropdown menu.
4. Navigate to the "Trade History" tab.
5. Choose "Export Trade History."
6. Under "Trading Pair," select "All."
7. For "Side," also select "All."
8. Pick a date range that covers your entire trading history on MEXC, keeping in mind the maximum time period is 12 months (multiple CSV files may be needed).
9. Click "Generate" and then "Confirm."
10. Download the report once it becomes available.

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 MEXC or select it from the list below.
4. Now, click on the MEXC icon.
5. Choose Upload CSV.
6. Upload all the downloaded CSVs or simply drag and drop them.
7. Click on Import Your Transactions. All transactions are 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 are MEXC 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 MEXC 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 MEXC

1. When importing a CSV file, match your MEXC account Time Zone in the Kryptos import form.
2. Make sure you follow all the steps carefully for importing CSV files.
3. While creating a new key, make the API key read-only.
4. Keep your API Key and API Secret somewhere safe, preferably offline. 

Facing Issues While Connecting MEXC 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.