How to do your Shibarium taxes with Koinly
Shibarium is a Layer-2 network for the Shiba Inu ecosystem that speeds up transactions and cuts fees by handling activity off-chain before settling back to Ethereum. But if you have SHIB or BONE transactions, you may have a tax bill. Koinly can calculate your Shibarium gains, losses, income, and more. All it needs is your transaction history. Here's how to import it automatically.
Follow these steps to sync your Shibarium (BONE) data automatically to Koinly:
- Open your Shibarium (BONE) 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 Shibarium (BONE) 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!
API misses some internal BONE transfers
- 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
- Got a feature request? Give us feedback on Canny
FAQs
What is Shibarium?
Shibarium is a layer 2 blockchain built on top of Ethereum to make the Shiba Inu ecosystem faster, cheaper, and more scalable. It handles transactions off the Ethereum mainnet (i.e, processes them on its own chain) and then periodically posts results back to Ethereum, reducing congestion, lowering fees, and speeding up transactions. Shibarium supports the ecosystem’s tokens (like SHIB and BONE) and supports dApps.
Is Shibarium safe?
Shibarium follows the same general security model as other Ethereum Layer-2s. Its safety comes from Ethereum underneath plus the design of its own validators, but, like any newer network, its real security depends on continued auditing, stable infrastructure, and how decentralized its operator set becomes over time. In short, it’s built to be secure, but it’s still newer than mature L2s, so normal crypto caution applies.
Does Shibarium provide tax documents?
Shibarium doesn’t issue users with tax forms. If you need to figure out Shibarium taxes, Koinly can help. Once you connect your Shibarium public wallet address(es), Koinly can pull your transaction history, calculate your gains, losses, and income, and generate the forms required for your tax return.
