How To Calculate Your Safe Wallet Taxes With Kryptos

If you are using Safe Wallet, follow these steps to 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 Safe Wallet to Kryptos.
3. View and analyze all your transactions in a single dashboard and manage your portfolio.
4. Kryptos automatically categorizes all your Safe Wallet transactions into gains/losses or income.
5. Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from your Safe Wallet!
6. Generate the Safe Wallet tax report for free and download it once everything looks good.
7. File your Safe Wallet taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Safe Wallet With Kryptos 

1. Go to kryptos.io & sign up using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Safe Wallet in the search bar.
4. Now, click on the Safe Wallet icon.
5. Click on “Connect with Safe Wallet” 
6. On your Safe Wallet app, go to the dApps menu from the bottom and tap on the Scan icon on the bottom right.
7. Scan the QR Code on Kryptos using your Safe Wallet app. 
8. Follow the instructions on the Safe Wallet app.
9. Kryptos will automatically read all the wallet addresses.
10. Click on “Import your Transactions”
11. Sit back and let Kryptos synchronize with all of your wallets from Safe Wallet.

How to download Safe Wallet Tax Reports

1. Once synchronization finishes, head to Reports under Menu on Kryptos.
2. Under summary, click on the Download Tax Report button.
3. Choose your Tax Report Type and click on download. 

How are Safe Wallet 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, etc.. But, in general, there are mainly two types of taxes applicable to Safe Wallet transactions.

• Income Tax- If you are earning rewards (e.g. through lending or staking) or 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, ETH, SNX, UNI, etc.), you incur capital gains tax.

Essential things to keep in mind while integrating Safe Wallet

• Make sure to integrate historical exchanges relevant to your transaction history overall.
• Do not use your private keys for integrations on Kryptos.

Facing Issues While Connecting Safe Wallet 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 a critical or urgent issue 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.