How to do your Flare (FLR) taxes with Koinly
Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, while FLR (formerly Spark) is the native token used to interact with smart contracts and pay transaction fees.
- Sign up to Koinly and choose your country and currency
- Safely connect Koinly to the Flare blockchain using your public address
- Koinly categorizes FLR transactions into gains, losses, and income
- Download your crypto tax report from Koinly
- File your crypto taxes online or with your crypto tax accountant
How to find your Flare (FLR) public address
To connect Flare to Koinly, you need your public address and the exact steps for this will vary depending on your wallet. You'll find easy to follow steps on how to get your Flare public address for hundreds of wallets here, but generally speaking, it's as simple as:
- Log in to your wallet
- Select the Flare (FLR) blockchain
- Copy your public address
Don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Flare.
How to connect Flare to Koinly automatically via API
On Koinly
- Sign up or login into Koinly and head to the wallets page
- Select add new wallet in the top right corner
- Search for and select for Flare (FLR)
- Paste your Flare public address
- Select import
Important
Remember, if you're using multiple wallets to invest in FLR, you'll need to connect each of these wallets to Koinly in order to calculate your transaction history correctly.
How do I troubleshoot my Flare integration to Koinly?
If you're having any issues connecting Flare and Koinly, we're here to help:
- 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 or Reddit
- Contact us by email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your Flare taxes
Sign up free to calculate your FLR taxes today!
What is Flare?
Flare is an EVM-based layer one blockchain solution that helps developers decentralize access to data from other blockchains and other external online sources, and overall helps improve blockchain interoperability.
What is FLR?
Formerly Spark, FLR is the native token for the Flare blockchain. You can use FLR tokens for payments and transaction fees, as well as buy, sell, and trade FLR as you would any other token, and earn FLR tokens as staking rewards. Flare is also available as a wrapped ER20 variant - WFLR.
What kind of consensus mechanism does Flare use?
Flare uses a Proof of Stake consensus mechanism.
How can I buy FLR?
You can buy FLR on centralized exchanges like KuCoin, Kraken and Bitfinex, as well as earn FLR tokens as a reward for staking as part of the network.
What is the current price of FLR?
You can find the current price of FLR on price aggregators like CoinMarketCap or CoinGecko. FLR has previously had an all-time high of $0.0797 and an all-time low of $0.0227.
Is Flare blockchain safe?
Yes. Your FLR tokens are taxable, just like any other cryptocurrency or token. Crypto tax varies depending on where you live, but generally speaking, you'll pay Capital Gains Tax when you sell, swap, or spend FLR tokens, and Income Tax upon receipt when you earn new FLR tokens. Check out our crypto tax guides for more information about where you live!