How to do your Flux taxes with Koinly
Flux is a decentralized blockchain platform that provides scalable Web3 infrastructure and cloud computing services through a global network of user-operated nodes. But if you have Flux transactions, you may have a tax bill. Koinly can help. Just import your transaction data by adding your wallet address and Koinly will calculate your Flux taxes.
Follow these steps to sync your FLUX data automatically to Koinly:
- Open your FLUX wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find FLUX 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!
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FAQs
What is Flux?
Flux is a decentralized, open-source blockchain platform designed to support Web3 applications by providing scalable and resilient cloud infrastructure through its FluxOS operating system. It operates on a global network of user-run nodes that offer computing resources in exchange for FLUX tokens, the native cryptocurrency used for transactions, governance, and rewards. Flux emphasizes interoperability with other blockchains and supports cross-chain functionality.
Is Flux safe?
Flux is generally considered a secure and reliable blockchain platform, especially for those building or using decentralized cloud infrastructure. It has undergone multiple independent security audits, including a 2023 review by Trail of Bits and a 2024 audit by Cyberscope, which rated its smart contracts as very low risk. Flux operates on a decentralized network of over 2,300 nodes, using an ASIC-resistant Proof-of-Work algorithm (ZelHash) to ensure decentralization and resilience. Governance is community-driven through on-chain voting, and the official Zelcore wallet is non-custodial, giving users full control of their private keys. While the platform is independently vetted, developers should be mindful of potential challenges in protecting proprietary code on a decentralized network.
Does Flux provide tax documents?
No, but you can use a crypto tax tool like Koinly to calculate your tax obligations from Flux transactions and create detailed tax reports. Just add your Flux wallet address, and Koinly will automatically pull in your transaction history to calculate your gains, losses, income, and more.
