How To Calculate Your OKX Taxes With Kryptos

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

How To Connect OKX With Kryptos Using API

On OKX :

1. Log in to your OKX account.
2. On the top right corner, look for the Profile Icon & select it. 
3. In the drop-down menu, look for API.
4. Now select Create New Key. 
5. Name the API Key anything you like & set a Passphrase to access it.
6. You can choose to whitelist IP addresses for an added layer of security.
7. Under Permissions, select Read & click Confirm.
8. Put in your 2-Factor & email authentication code. Click Confirm.
9. Copy the API Key & the API Secret and save it somewhere safe.
10. After saving the keys, click Confirm.

Note: OKX gives out only 3 months worth of data from their API Keys. If your trading data goes beyond 3 months, consider uploading CSV files for best results.

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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 OKX or select it from the list below.
4. Now, click on the OKX icon.
5. Choose Import using API Keys.
6. Paste your API Key & API Secret.
7. Use the Passphrase to access the API key.
8. Click on Import Your Transactions. All transactions are directly imported and tagged by default.
9. 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 OKX With Kryptos Using CSV

On OKX :

i) Trading Account History CSV:

1. Access your OKX account by logging in & locate the assets option situated at the top right corner.
2. Click on the drop-down menu and choose "my assets"
3. Proceed to the order center & Navigate to the Trading Account History.
4. Find the download option and click on it.
5. To specify a particular date range, select the customize option. You will then be able to pick a custom date range for your CSV transaction data.
6. Ensure that the selected date range encompasses your entire trading history on OKX.
7. Finish the process by selecting the export option.
8. Your Trading Account History file would be saved in your downloads folder by default.

ii) Funding Account History CSV:

1. Access your OKX account by logging in.
2. Locate the assets option positioned at the top right corner.
3. Click on the drop-down menu and choose "my assets"
4. Proceed to the order center.
5. Navigate to the funding account history.
6. Find the download option and click on it.
7. To specify a specific date range, click on select date range, and then choose Customize.
8. This will enable you to select a custom date range for your CSV transaction data.
9. Ensure that the chosen date range encompasses your entire funding history on OKX.
10. Finish the process by selecting the export option.
11. Your Funding Account History file would be saved in your downloads folder by default.

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 OKX or select it from the list below.
4. Now, click on the OKX icon.
5. Choose Upload CSV.
6. Upload all the relevant CSVs for your tax filing.
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.

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How are OKX 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 OKX 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 OKX

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