How to Connect Poloniex with Kryptoskatt

How To Calculate Your Poloniex Taxes With Kryptoskatt

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

How To Connect Poloniex With Kryptoskatt Using API

On Poloniex :

1. Log in to your Poloniex account on the Poloniex website.
2. Click on "Settings" from the top menu.
3. From the dropdown, click on "API Keys".
4. Click on "Create New Key" button.
5. Enter a name for your API key in the "Key Label" field (e.g. "Read-only API Key").
6. Under "Key Permissions", make sure to select "Read Info" and "Read Trade History" only. This will ensure that the API key can only be used to view account information and trading history but cannot be used to make trades or withdrawals.
7. Click on "Create API Key" button.
8. You will be asked to enter your 2-Factor Authentication (2FA) code.
9. Once you have entered the code, you will be provided with your API key and API secret. 
10. Make sure to copy these down and store them in a secure location.

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

On Poloniex :

1. Log in to your Poloniex account on the Poloniex website.
2. Click on "Reports" from the top menu.
3. From the dropdown, click on "Trade History".
4. Select the date range for which you want to download the trade history CSV file.
5. Click on "Export Complete Trade History" button in the top right corner of the page.
6. A pop-up window will appear, select "CSV" as the file format for the report.
7. Select the appropriate timezone and date format for the report.
8. Click on "Export" button to generate the CSV file.
9. You will receive an email with a download link to your trading history CSV file. Check your email and click on the download link to save the CSV file to your computer.

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

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