How to Integrate Koinly and CoinSpot

Simplify CoinSpot tax reporting with Koinly. Integrate via API or CSV to easily calculate the tax liability of your CoinSpot transactions, trading and history. Get started for FREE!

API Import CSV File Import

How to integrate CoinSpot with Koinly

The most popular crypto exchange in Australia, more than a million Australian crypto investors are using CoinSpot to buy, sell and swap crypto. You can easily integrate CoinSpot with Koinly to calculate and generate Australian tax reports.

How to get a tax statement from CoinSpot

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

CoinSpot pairs with Koinly through API or CSV file import to make reporting your crypto taxes easy. Once connected, Koinly becomes the ultimate CoinSpot tax tool. How? Koinly will calculate your CoinSpot 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 CoinSpot tax statement from Koinly and file it with your local tax authority. Done!

Connect to Koinly with the CoinSpot tax report API

On Koinly

  1. Sign up or log in to Koinly and head to the wallets page.
  2. Select add new wallet: CoinSpot.
  3. Select set up auto-sync.
  4. Head over to CoinSpot.

On CoinSpot

  1. Log in to your CoinSpot account.
  2. In the top right corner, select my account.
  3. From the drop down tab, select API.
  4. Select generate new API key.
  5. Enter an API key name, for example, "Koinly".
  6. Under API key type, select read only.
  7. Complete the two-factor verification using the Google authenticate app or via SMS. Enter the verification code.
  8. Select create API key.
  9. You'll be sent an email to confirm you want to verify this API key. Click the link in the email sent to you.
  10. Copy the API key.
  11. Paste the copied API key into the API key box on the Koinly page.
  12. Go back to CoinSpot and select view secret (one time only).
  13. Copy the API secret and paste into the API secret box on the Koinly page.
  14. Select secure import.

Good to know

It's important to know that sign ups and other bonuses aren't synced to Koinly via API from CoinSpot. An example of one of these common migration issues is NPXS to PUNDIX. CoinSpot won't sync the airdrop of the new PUNDIX or the withdrawal of NPWS, so users would need to add this swap manually. Another common example is sign up bonuses paid in BTC. Don't worry, this just means you'll need to add these transactions manually through a CSV file import instead. You can learn how to do this below.

How to import your CoinSpot tax report CSV file to Koinly

On CoinSpot

  1. Sign in to your CoinSpot account.
  2. In the top right corner, select my account.
  3. Select order history from the drop down menu.
  4. Download both the sends/receives CSV file and the buys/sells CSV file.

On Koinly

  1. Sign in to your Koinly account.
  2. Select add new wallet: CoinSpot.
  3. Select import from file.
  4. Upload CSV files.

Good to know

CoinSpot separates transactions into sent/received and buys/sells. You'll need to upload both of these CSV files for Koinly to generate an accurate tax report.

How do I check that my CoinSpot import is accurate?

Our crypto tax software is smart, but if you've got issues with the imported data from CoinSpot, it won't generate an accurate tax report for you to submit to your tax office. This is why you should check through your Koinly account once you've synced your CoinSpot wallet and any other wallets or exchanges. This helps you identify any errors in your imported data and resolve them, so Koinly can make accurate calculations for your tax report. Follow these simple steps.

All wallets, exchanges and blockchains

First, make sure you've synced all the wallets and exchanges you use. Koinly needs this information to identify when you've moved funds between wallets, as opposed to disposed of your funds. This matters because transfers between wallets are tax free, whereas deposits and withdrawals may be subject to Income Tax and Capital Gains Tax.

Look out for big numbers

Once you've got everything synced, go to the Koinly transactions page. Select the type filter and filter by deposits and withdrawals. Check there aren't any of these transactions which you believe are transfers between your own wallets. If you see any, you can manually fix them.

Review the labels of your transactions

Now use the wallet filter instead to select only your CoinSpot transactions. Look at the labels on each transaction to check they're right. These labels tell Koinly what type of transaction it is, for example an airdrop or loan interest, so it can figure out which tax to apply if any. If you notice there are any incorrect or missing labels, tag them manually in the Koinly platform with the following tags.

Withdrawal Tags (sending funds):

Any time you send or dispose of a digital asset, this is a withdrawal. This makes the transaction subject to Capital Gains Tax as standard in most countries. However, some withdrawals like gifts can be tax free. Label them with withdrawal tags.

  • Tag as cost: Label any transaction costs.
  • Sent to pool: Label any coins/tokens in liquidity/staking pools with the sent to pool tag. This lets Koinly knows you still own the asset.
  • Tag as gift: Gifting crypto is tax free in many countries. Check your country's crypto tax rules and label any gifts.
  • Tag as lost: Label any stolen crypto. Some countries allow this to be claimed as a loss.

Deposit Tags (receiving funds):

Any time you receive a new coin or token, this is a deposit. Koinly views these as a purchase at market price by default. Of course, there are many reasons you might receive crypto - like from mining or as a reward. In some instances, these may be subject to Income Tax. Check your deposits tags so Koinly knows which tax to apply.

  • Tag as mining: Most tax offices see mining as income, so it's subject to Income Tax.
  • Tag as loan interest: Getting interest from loaning your crypto is often seen as income and subject to Income Tax.
  • Tag as income: Getting paid in crypto is subject to Income Tax, like any other salary would be.
  • Tag as airdrop: Many countries see airdrops as a bonus and apply Income Tax.
  • Tag as fork: Like airdrops, any new coins from a fork might be seen as a a bonus and subject to Income Tax.
  • Received from pool: Use this tag for the original capital you sent to a given pool - not for any rewards from it.
  • Tag as reward: Use this to label any rewards from staking pools, referral schemes and so on. These are often seen as a bonus and subject to Income Tax.

Exchange Tags (trading funds):

Any time you trade crypto for crypto, buy crypto with fiat or sell crypto for fiat - this is an exchange. Each transaction is taxed differently. Selling crypto is always taxed, buying crypto is tax free and trading crypto is sometimes taxed depending on where you live. Koinly can calculate your applicable taxes for these transactions based on your location, but there is one exchange tag you may need.

  • Tag as swap: Tag if a cryptocurrency has changed its symbol/name. This is tax free.

Our Getting Started Guide is packed full of more helpful advice on how to use Koinly and how to resolve common issues.

How do I troubleshoot my CoinSpot integration to Koinly?

Koinly has a great help section, full of queries about integrating popular exchanges and wallets. You can find lots of excellent advice and solutions there. Some of the most common queries we get about CoinSpot include:

Find more answers on our discussion forum here. If you can't find the answer to your query, get in touch with our customer support team who will be happy to help.