How to do your Zetachain taxes with Koinly
Zetachain is an EVM-compatible Layer 1 blockchain built on Cosmos SDK and focused on cross-chain interoperability and omnichain smart contracts. But if you have Zetachain transactions, you might have a tax bill. Koinly can help, you just need to import your transaction data. Here's how.
Follow these steps to sync your Zetachain (ZETA) data automatically to Koinly:
- Open your Zetachain (ZETA) 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 Zetachain (ZETA) 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!
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FAQs
What is Zetachain?
ZetaChain is an EVM-compatible Layer 1 blockchain designed for cross-chain interoperability, enabling omnichain smart contracts that can directly interact with assets and data across both EVM and non-EVM chains (like Bitcoin) without the need for bridges. Built on the Cosmos SDK with Tendermint consensus, it ensures fast finality and strong security. Its native token, ZETA, is used for gas fees, staking, and cross-chain transactions. ZetaChain allows direct handling of native assets, simplifying liquidity movement and improving the user experience across blockchains.
Is Zetachain safe?
ZetaChain is designed with strong security through the Cosmos SDK and Tendermint consensus, ensuring fast finality and protection against validator misbehavior. Its native support for omnichain smart contracts allows direct cross-chain interactions without relying on vulnerable bridges, reducing attack risks. EVM compatibility allows developers to use established security practices, while the staking-based validator model incentivizes honest behavior. However, risks remain with the complexity of cross-chain interactions, potential smart contract vulnerabilities, and the network’s early-stage status since launching in January 2024. Overall, ZetaChain’s design is fundamentally secure, but its real-world resilience is yet to be fully tested.
Does Zetachain provide tax documents?
No, but you can use a crypto tax calculator like Koinly to calculate your gains, losses, income, and more from Zetachain and generate crypto tax documents. Just add your Zeta address and Koinly will automatically import your transaction data.
