How to Integrate Gate.io with Koinly

Gate.io is a popular altcoin exchange, offering traders 180 different coins in nearly 400 different cryptocurrency markets. The site also offers advanced trading options like margin trading and liquidity mining.

How to get a tax statement from Gate.io

Gate.io pairs with Koinly through API to make reporting your crypto taxes easy. Once connected, Koinly is able calculate your taxes with precision. It even takes into account your location, generating your clean and accurate tax report, all within 20 minutes.

How to connect Gate.io to Koinly tax report via API

On Koinly

Sign up or log into Koinly and go to wallets.
Select add new wallet: Gate.io.
Select set up auto-sync.
Head over to Gate.io

On Gate.io

Log in to your Gate.io account.
Click on your profile icon.
Select API management from the drop down menu.
Select APIv4 keys.
Select create new API key.
Under permissions, check the spot/margin trade and wallet boxes.
Select read only for both.
Select confirm and create.
Enter your fund password and complete the two-factor authentication.
Copy the API key and the API secret.

Back to Koinly

Paste the API key into the API key box.
Paste the API secret into the API secret box.
Select secure import.

Good to know (API)
You need to use an APV4 key within Gate.io, not an APIV2 key. For Koinly users who were previously using an APV2 key - you'll need to change to an APV4 key. If you haven't enabled two-factor authentication, skip the step above that mentions it. Just leave the box blank and select ‘show API keys’. Also, realise that it takes a minute for your Gate.io transactions to appear in Koinly. This is normal— it's just Koinly working through the data. If you're having issues with the API method for Gate.io, use the CSV method below instead.

How to import your Gate.io tax report CSV file to Koinly

On Koinly

Sign up or log in to your Koinly account and head to wallets.
Select add new wallet: Gate.io.
Select import from file.
Head over to Gate.io

On Gate.io

Log in to your Gate.io account.
Find your PurseLog file by select billing details.
Select all bills.
Select download. This should include your entire transaction history.

Back to Koinly

Upload your CSV file.
Select import.

Good to know (CSV)
When you're selecting the date range, make sure to include all your trading history on Gate.io, even if you're only filing for the most recent tax year. This helps Koinly generate an accurate tax report based on all your transactions.For example, many countries allow you to offset losses from previous years against gains from the current year, meaning you're taxed less. But if Koinly doesn't have this information from previous years, it won't be able to calculate this. Also keep in mind that Gate.io limits users to a maximum of 30 CSV file downloads a day.

How do I check that my Gate.io import is accurate?

Once your Gate.io trade history is imported, it's a good idea to check your data on your Koinly Transactions page. This lets you identify any issues - and resolve them, so Koinly can make the right calculations for your tax report.

Got all wallets, exchanges and blockchains?

Do you use more exchanges than just Gate.io? Before anything else, make sure all your wallets and exchanges are synced with Koinly. Koinly needs to know when you're moving crypto between wallets so it can identify these as transfers, which aren't taxable. If you don't sync all your wallets, Koinly will identify some Gate.io transactions as withdrawals or deposits, which are subject to tax.

Look out for big numbers

When all your wallets are added, head to the transactions page. Use the type filter to look at your deposits and withdrawals. This is so you can check there aren't any deposits or withdrawals that you think are actually transfers between your own wallets. If you spot any, fix these manually.

Review the labels of your transactions

Use the wallet filter and select your Gate.io wallet so you can check how your Gate.io transactions are tagged. Tags help Koinly understand the type of transaction, for example a fork or airdrop, so it can figure out what tax applies, if any. If you notice incorrect tags you can change these manually in the Koinly platform.

Withdrawal Tags (sending funds)

A withdrawal is any time you send digital assets out of an exchange or wallet. Koinly sees this as a type of disposal, so the transaction is subject to Capital Gains Tax in most countries. However, some withdrawals, like swapping coins between wallets, are tax free, so you should label these using withdrawal tags.

Tag as cost: Tag any Gate.io transaction fees.
Tag as gift: Gifting crypto is taxed in many countries. Check your country's crypto tax rules.
Tag as lost: Tag any stolen crypto and claim it as a loss, if your country allows.

Deposit Tags (receiving funds)

A deposit is any time you receive a new digital asset. Koinly views this as a purchase at market price. Deposits can fall under Income Tax or Capital Gains Tax depending on the type of deposit and where you live. Label these with deposit tags.

Tag as mining: Most countries consider mining to be income (and thus subject to Income Tax rather than Capital Gains tax)
Tag as loan interest: Interest from lending is seen as income (Income Tax).
Tag as income: Like any other salary, getting paid in crypto (Income Tax).
Tag as airdrop: Many tax offices see airdrops as a bonus (Income Tax).
Tag as fork: New coins from a fork could be seen as a bonus (Income Tax).
Tag as reward: Use this to tag any rewards from referral schemes, staking pools and so on. Rewards are often seen as a bonus and (Income Tax).

Exchange Tags (trading funds)

An exchange refers to when you buy crypto with fiat currency, sell crypto for fiat or trade crypto for crypto. Buying crypto is tax free and selling crypto is always taxed. Trading crypto for crypto is sometimes taxed depending on your location. Koinly calculates this for you, but there is one exchange tag you might need.

Tag as swap: Use this tag if a cryptocurrency has changed its symbol or name. This is tax free, like a transfer between wallets.

For more helpful advice on getting to grips with Koinly and resolving common issues, read our Getting Started Guide.

How do I troubleshoot my Gate.io integration to Koinly?

Koinly's help section is full of great tips on how to use a cryptocurrency tax calculator to work out your Gate.io taxes. You'll find the answers to many common queries there, as well as some more unusual ones. Some of our most common queries about Gate.io include.

If you still have questions, head over to our online community where our Gate.io users and support team discuss common issues. Still got a problem? Get in touch.