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How to Connect Binance and Koinly

Connect Binance to Koinly in minutes! Follow our step by step instructions and get your Binance taxes done fast!

API Import CSV File Import
Last updated: Saturday, 6 August 2022

How to connect Binance with Koinly

Are you trading with one of the world's biggest cryptocurrency exchanges? Whether you're buying, investing, staking, or storing crypto on Binance, it's incredibly easy to get your crypto taxes done with Koinly.

How to get a tax statement from Binance

You might be wondering, does Binance provide CSV tax and trade history reports? Is it even possible to get tax info and statements from Binance? What about a Binance tax API? The good news is, while Binance might not provide tax forms and documents, Binance does offer 2 easy ways to export transaction and trade history!

Binance pairs with Koinly through API or CSV file import to make reporting your crypto taxes easy. Once connected, Koinly becomes the ultimate Binance tax tool. How? Koinly will calculate your Binance taxes based on your location AND generate your EOFY tax report, all within 20 minutes! All you’ll need to do at tax time is download your Binance tax statement from Koinly and file it with your local tax authority. Done!

How does Koinly work with Binance?

Koinly works by importing your Binance transaction data. Let's look at an example - here's some transactions in a Binance account.

Binance transaction history example

You can import your Binance transaction history via API integration or by uploading CSV files of your Binance transaction history. Once you've done this, you'll be able to see your Binance transactions in Koinly - like this.

Binance transactions in Koinly

This lets you manage all your crypto transactions - from Binance and any other exchanges you use - from one single platform, making crypto tax simple. Here's how to import your Binance transaction data. Binance US works slightly differently - but you can check out our step by step instructions for Binance US and Koinly instead.

How to connect Binance to Koinly via API

On Binance

  1. Open the Binance API management page.
  2. Select create tax report API. (This is read-only by default.)
  3. Copy the API Key and API Secret.

On Koinly

  1. Sign up or login into Koinly and head to the wallets page.
  2. Add a new wallet: Binance.
  3. Select set up auto sync.
  4. Paste your Binance API key and API secret.
  5. Select secure import.

Good to Know
To create a tax report API in Binance, you'll need to have completed KYC first.
If you have a small yellow icon next to your Binance wallet once synced, this means Koinly has calculated your crypto assets from the imported data, but they're not matching what the API is reporting. If you select the yellow icon this will give you more information on what the difference in balances are. You can ignore minor differences, but large differences are often due to the API limitations. If you select the three dots on the right and then troubleshoot, you'll find a page with the most common issues related to the Binance API. The Binance API does not allow access to fiat purchases, mining income or BSwaps. So if you have any transactions under the 'buy crypto' tab or trade and convert or trade P2P transactions, this data won't be included in the API data - use the CSV file method below instead.
If you've already used the API method, make sure you delete your existing Binance transactions from Koinly before you upload your CSV file. You can find this option in the troubleshooting Binance page, on the right. It's really important you do this as otherwise you'll end up with duplicated transactions and an inaccurate tax report!

How to connect Binance to Koinly via CSV

On Binance

  1. From your Binance account, select wallet from the top navigation menu.
  2. From the drop down menu, select transaction history.
  3. Now select generate all statements.
  4. Under time, select customized. Enter your date range (maximum 12 months).
  5. Select generate. Your statement might take a moment to generate.
  6. Repeat until your full trading history is covered.

On Koinly

  1. Sign up or login into Koinly and head to wallets.
  2. Add a new wallet: Binance.
  3. Select import from file.
  4. Upload your CSV file(s).

Good to know
If you're using the CSV file upload method make sure to import your deposits, withdrawals and trades for ALL trading years and not just the current year. Binance lets you download a maximum of 1 year transaction history at a time, so you may need to export multiple CSV files to cover your complete Binance trading history. We have a great help article for common issues with Binance CSV full of troubleshooting tips.
If you're investing in Binance futures, you might be a little confused about your data import. On the transactions page, select label and then Realized P&L from the drop down menu to filter to only your futures transactions. Koinly imports the actual profit and loss from your futures trades and aggregate your P&L transactions, so you'll only have a few transactions a day as opposed to potentially hundreds.

How do I troubleshoot my Binance integration to Koinly?

Having issues with your Binance data import? We can help: