How To Connect Decred with Koinly
Decred is a decentralized and self-governing cryptocurrency. It features a hybrid consensus system and has community-based governance integrated into the system. Being a community-driven cryptocurrency, it provides an alternative to money that is not only decentralized but fair and sovereign. Regardless of your investments, it's fair to say when it comes to tax time, crypto can be challenging - Koinly can help make your blockchain taxes easier.
It's simple to connect Koinly to the Decred blockchain. All you need is your public address. Once connected, Koinly imports all your trades automatically. Then Koinly does all of the work for you. It calculates all your gains, income and expenses with easy-to-spot totals ready for your tax return. At tax time, simply download the Koinly tax report for your country, and you’re good to file!
Follow these steps to sync your Decred (DCR) data automatically to Koinly:
- Open your Decred (DCR) 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 Decred (DCR) 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 Decred public address
You can find your public address in the wallet you use to interact with Decred, in most instances your public address can be generated from within your Decred wallet.
We have instructions on how to do this for a variety of popular wallets on our integration pages.
Please note: you’ll need to add your public address from every wallet you use to interact with Decred in order for Koinly to calculate your crypto taxes correctly.
Once you have your public address, here’s how to connect to Koinly.