How to do your Aptos taxes
Aptos, a Layer-1 blockchain established in October 2022 by Avery Ching and Mo Shaikh, prioritizes scalability, safety, and reliability. Leveraging the Move programming language, Aptos implements parallel execution through its Block-STM mechanism, achieving a transaction throughput of up to 160,000 transactions per second (tps). The APT token acts as the native cryptocurrency on the Aptos network, facilitating transaction fees, validator rewards, and governance functions. Whatever your APT transactions, you might have a tax bill. Koinly can help you figure it out - here's how.
Follow these steps to sync your APTOS data automatically to Koinly:
- Open your APTOS wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find APTOS in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
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FAQs
What is Aptos?
Aptos, founded in October 2022 by Avery Ching and Mo Shaikh, is a Layer-1 blockchain designed for scalability, safety, and reliability. Leveraging the Move programming language, Aptos implements parallel execution through its Block-STM mechanism, achieving a transaction throughput of up to 160,000 transactions per second (tps). The APT token serves as the native cryptocurrency on the Aptos network, facilitating transaction fees, validator rewards, and governance functions.
How does Aptos work?
Aptos operates on a unique framework that diverges from traditional blockchains by utilizing the Move smart contract programming language, enabling parallel transaction execution through its Block-STM engine. Developed by Meta's Diem team, this approach boosts transaction throughput to a claimed 160,000 transactions per second (tps). Aptos employs a modular architecture comprising smart contract execution, a consensus mechanism, parallel transaction processing, client interfaces, and validator management. Its consensus mechanism combines Byzantine Fault Tolerance (BFT) and Proof of Stake (PoS) to process transactions collectively among validators, while clients submit transactions and query blockchain data. The network includes full nodes replicating transactions and blockchain states, alongside light clients maintaining validator sets and securely accessing partial blockchain states.
What is APT?
APT is the native token for Aptos and is used to pay for transaction and network fees. It can also be bought, traded, and sold like any other cryptocurrency.
Do I have to pay tax on my Aptos transactions?
Cryptocurrencies - including APT - are generally taxable. The exact rules vary depending on where you live, but in general, your crypto will be subject to Capital Gains Tax or Income Tax depending on the transaction. Learn more in our crypto tax guides.
How do I calculate my Aptos taxes?
The easiest way to calculate your Aptos taxes is to use a crypto tax calculator like Koinly. With Koinly, all you need to do is add your public address and it'll automatically import your transaction history, and calculate your gains, losses, and income, before generating your crypto tax reports.
