How to File Your Flare (FLR) Taxes with Koinly
Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, while FLR (formerly Spark) is the native token used to interact with smart contracts and pay transaction fees.
Follow these steps to sync your Flare (FLR) data automatically to Koinly:
- Open your Flare (FLR) wallet app
- Locate and copy your public address or key
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Flare (FLR) 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!
How to find your Flare (FLR) public address
To connect Flare to Koinly, you need your public address and the exact steps for this will vary depending on your wallet. You'll find easy to follow steps on how to get your Flare public address for hundreds of wallets here, but generally speaking, it's as simple as:
Log in to your wallet
Select the Flare (FLR) blockchain
Copy your public address
Don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Flare.
Your frequently asked questions
What is Flare?
Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, and overall helps improve blockchain interoperability.
What is FLR?
Formerly Spark, FLR is the native token for the Flare blockchain. You can use FLR tokens for payments and transaction fees, as well as buy, sell, and trade FLR as you would any other token, and earn FLR tokens as staking rewards. Flare is also available as a wrapped ER20 variant - WFLR.
What kind of consensus mechanism does Flare use?
Flare uses a Proof of Stake consensus mechanism.
How can I buy FLR?
What is the current price of FLR?
You can find the current price of FLR on price aggregators like CoinMarketCap or CoinGecko. FLR has previously had an all-time high of $0.0797 and an all-time low of $0.0227.
Is Flare blockchain safe?
Yes. Your FLR tokens are taxable, just like any other cryptocurrency or token. Crypto tax varies depending on where you live, but generally speaking, you'll pay Capital Gains Tax when you sell, swap, or spend FLR tokens, and Income Tax upon receipt when you earn new FLR tokens. Check out our crypto tax guides for more information about where you live!