How to do your Cypherock Wallet taxes with Koinly
Cypherock is a non-custodial hardware wallet with decentralized private key storage. But if you've got Cypherock transactions, you may have a tax bill. Koinly can help. Here's how.
Follow these steps to sync your Cypherock Wallet data automatically to Koinly:
- Open your Cypherock Wallet wallet app
- Copy the public address for every coin that you have on it (even the ones with a zero balance)
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Cypherock Wallet 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!
- 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 Cypherock Wallet?
Cypherock is a seedless, open-source hardware wallet that employs Shamir’s Secret Sharing to split your private key into five encrypted shards, one in the main vault device and four on NFC smartcards, enabling a secure 2-of-5 signature scheme. This means there's no single point of failure, and you don’t need to manage a traditional seed phrase backup. The device uses bank-grade EAL6+ secure elements, supports over 9,000 assets, and is audited by Keylabs and others. You can also use it as a vault for BIP39 seed phrases from other wallets, and manage multiple independent wallets (up to four) via the companion CySync app.
Is Cypherock Wallet safe?
Cypherock Wallet is considered highly secure due to its unique design that splits private keys into five encrypted parts using Shamir’s Secret Sharing, requiring only two parts to access funds, reducing the risk of loss or theft. It uses bank-grade EAL6+ secure elements, operates fully air-gapped (no internet or USB connections), and has passed independent security audits. The wallet is open-source and resistant to tampering, making it ideal for long-term crypto storage. However, its reliance on proprietary hardware (Vault and NFC cards) means users depend on the company's continued support for recovery and access.
Does Cypherock Wallet provide tax documents?
No, but you can use a crypto tax calculator like Koinly to do it for you. Just add your Cypherock Wallet address(es), and Koinly imports your transaction data and does the rest.
