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How to file your Crypto.com taxes with Koinly

Crypto.com pairs perfectly with Koinly to make crypto tax easy! 🤝Sync Crypto.com with Koinly to calculate your crypto taxes fast. ⚡ Connect in minutes! 🖱️

Last updated: Monday, 30 January 2023

How to do your Crypto.com taxes with Koinly

Crypto.com is one of the largest crypto exchanges going - offering investors a huge variety of opportunities including NFTs, DeFi staking and crypto Visa cards. Whatever your investments - doing your Crypto.com taxes with Koinly is easy. You just need to connect via API or by uploading a CSV file. Here's how.

  1. Sign up to Koinly and choose your country and currency
  2. Connect Crypto.com with Koinly to import all your Crypto.com trades safely and securely
  3. Koinly categorizes Crypto.com transactions into gains, losses and income
  4. Koinly calculates your Crypto.com Capital Gains Tax and Crypto.com Income Tax
  5. Download your Crypto.com tax report from Koinly
  6. File your Crypto.com taxes online or with your crypto tax accountant

Watch how to do your Crypto.com taxes fast

Does Crypto.com report to the IRS?

Yes, Crypto.com does report crypto activity to the IRS. US users who earn $600 or more in rewards from Crypto.com from Staking, Earn, Referrals, or certain other activities will receive a 1099-MISC tax form and the same form will be sent to the IRS.

How to get Crypto.com tax documents

You need to report any gains, losses or income from your Crypto.com investments to your tax office. This is usually done as part of your annual tax return. 

You can do this yourself - but it’s time consuming. You’ll need to identify your taxable transactions, calculate your net capital gain or loss using an approved accounting method and identify the fair market value of any crypto income on the day you received it in your fiat currency. 

This is why most crypto investors opt to use a crypto tax calculator like Koinly. Koinly does all this for you and generates your crypto tax report, ready to file with your tax office. 

Just connect automatically via API, or upload a CSV file - depending on whether you’re using the Crypto.com desktop or app. Here’s how it works.

Koinly works by importing your Crypto.com transaction data so that you can calculate your taxes in under 20 minutes. Let's look at an example - here's some transactions in a Crypto.com account.

Transactions in Crypto.com example

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

Crypto.com transactions in Koinly

This lets you manage all your crypto transactions - from Crypto.com and any other exchanges you use - from one single platform, making crypto tax simple. Here's how to import your Crypto.com transaction data.

Please note, you'll need to connect Crypto.com and the Crypto.com app separately with Koinly. We've got step-by-step instructions on how to connect both below.

How to connect Crypto.com to Koinly automatically

On Crypto.com

  1. Log in to Crypto.com
  2. Click on your profile icon in the top right corner
  3. From the drop down menu, select profile
  4. From the left hand menu, select API keys
  5. Select create new API key
  6. Enter a name for your API key, for example, Koinly
  7. Complete the two-factor verification and enter the verification code
  8. Save your API key. The automatic settings should be read only - this is the only permission Koinly needs
  9. Copy your API key and API secret key - you might want to store these somewhere secure as they won't be shown again

On Koinly

  1. Sign up or log in to your Koinly account and go to the wallets page
  2. Select add new wallet: Crypto.com
  3. Select set up auto-sync
  4. Paste the API key and API secret key into Koinly
  5. Select secure import

Important

1. If you're using the crypto.com app - you'll need to use the CSV file method.

2. The Crypto.com API only imports Crypto.com exchange trades from the last 6 months. Use the CSV file method below instead.

How to integrate Crypto.com with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from Crypto.com before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from Crypto.com

You'll need two files from Crypto.com to upload to Koinly. Here's how to get both:

  1. Log in to Crypto.co
  2. In the top right corner, select wallets
  3. From the drop down menu, select spot wallet
  4. From the left hand menu, select transaction history
  5. In the right corner, select export history
  6. Enter a date range
  7. Check the select all box
  8. Select export to CSV
  9. Wait for the file to generate and then select download - this may take a couple of minutes
  10. Now go to order history in the left hand menu
  11. Select export history
  12. Enter a date range
  13. Check the select all box
  14. Select export to CSV
  15. Wait for the file to generate and then select download- this may take a couple of minutes

How to upload your Crypto.com CSV to Koinly

Now you've got your CSV file, here's how to upload it to Koinly.

  1. Log in to your Koinly account and go to the wallets page
  2. Select add new wallet: Crypto.com
  3. Select import from file
  4. Upload your CSV files

Important

1. Crypto.com CSV files only cover 6 months of transaction data. You may need to export multiple files. Koinly needs your complete transaction history on the platform to generate an accurate tax report.

2. Syndicate and supercharger transactions may not be included in CSV exports.

How to connect the Crypto.com app to Koinly via CSV

In the Crypto.com App

  1. Open your Crypto.com app
  2. Select accounts at the bottom of the screen
  3. Select transaction history in the top right corner
  4. Select the export icon in the top right corner
  5. Select crypto wallet
  6. Select a start and end date (maximum of 3 years). Please note, Koinly needs your entire transaction history so you may need to export multiple CSV files
  7. Select export to CSV
  8. Select download once your file is generated
  9. Once you have your file, follow the steps above for how to upload your CSV file(s) to Koinly

Please note, if you use the Crypto.com app fiat wallet or the Crypto.com Visa Card, you'll need to download CSV files for these too. This is easy, just follow the instructions above, but select 'fiat wallet' or 'crypto.com visa card' from the menu under 'transaction' instead of 'crypto wallet'.

How do I troubleshoot my Crypto.com integration to Koinly?

Having trouble with your Crypto.com import? No worries - here's where you can find help:

Calculate your Crypto.com taxes

Sign up free today to calculate your Crypto.com taxes.

Does Crypto.com provide tax forms?

Yes. Unlike most other exchanges, Crypto.com has a tax reporting service for it's users. Crypto.com can provide capital gain/loss reports, an income report and a variety of IRS specific forms like Form 8949.

How to get tax documents from Crypto.com

The easiest way to calculate your Crypto.com taxes is to export CSV files of your Crypto.com transaction history and upload them to Koinly. Alternatively, if you use a very limited number of exchanges, you can use the Crypto.com Tax service.

Is Crypto.com tax legit?

While Crypto.com does let you import data from a few other popular exchanges, it doesn't support the wide array of exchanges and wallets that the majority of crypto tax tools do.

Is Crypto.com safe?

In terms of security, Crypto.com is considered a safe platform. However, in the wake of the collapse of other large exchanges, the mantra of not your keys, not your crypto holds true. You should always store your crypto in a secure, cold wallet when not actively trading.

Does Crypto.com issue 1099 forms?

Yes. Crypto.com sends out a 1099-MISC to any US user who is a U.S. citizen that has earned USD $600 or more in rewards from Crypto.com, during the previous calendar year from Staking, Earn, Referrals, or certain other activities. Crypto.com will also provide a copy of your Form 1099-MISC to the IRS.

How to get a 1099 from Crypto.com

If Crypto.com is going to issue you with a 1099 form, you’ll receive it by the 31st of January of the following financial year, well ahead of the April tax deadline.

Does Crypto.com report to HMRC?

It's very likely Crypto.com report to the HMRC and other tax offices. HMRC have put a lot of pressure on centralized crypto exchanges operating in the UK to share KYC data to ensure tax compliance. As well as this, if you've linked your bank card to Crypto.com, your bank may also report these transactions to HMRC.

Does Crypto.com have Proof of Reserves?

Crypto.com has provided a list of addresses they hold user deposits on via their blog. Crypto.com’s Proof of Reserves can also be viewed on a Nansen dashboard that tracks these wallet addresses. For more information about what Proof of Reserves are and why it matters - check out our blog post.