How To Calculate Your Xellar Wallet Taxes With Kryptos

If you are using Xellar 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 Xellar Wallet to Kryptos.
3. View and analyze all your transactions in a single dashboard and manage your portfolio.
4. Kryptos automatically categorizes all your Xellar 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 Xellar Wallet!
6. Generate the Xellar Wallet tax report for free and download it once everything looks good.
7. File your Xellar Wallet taxes online or leverage our crypto tax accountant network to help you out.

How To Connect Xellar Wallet With Kryptos 

1. Go to Kryptos.com & sign up using your Google account.
2. From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
3. Search for Xellar Wallet in the search bar.
4. Now, click on the Xellar Wallet icon.
5. Click on “Connect with Xellar Wallet” 
6. On your Xellar Wallet app, tap on the Scan icon in the top right corner.
7. Scan the QR Code on Kryptos using your Xellar Wallet app. 
8. Follow the instructions on the Xellar 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 Xellar Wallet.

How to download Xellar 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 Xellar 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 Xellar 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 Xellar 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 Xellar 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