How to do your Gem Wallet taxes with Koinly
Gem Wallet is an open-source, multi-chain wallet with a privacy focus. But if you've got Gem Wallet transactions, you might have a tax bill. Koinly can help you calculate your taxes easily, here's how.
Follow these steps to sync your Gem Wallet data automatically to Koinly:
- Open your Gem 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 Gem 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 Gem Wallet?
Gem Wallet is a multi-chain, open-source, self-custodial wallet application designed for Web3 activities. It allows users to send and receive assets, swap and stake cryptocurrencies, and purchase crypto with fiat. Supporting over 30 blockchain networks, including Layer 2 networks and various token standards, Gem Wallet offers a simplified user interface for managing crypto assets while ensuring full custody and security.
Is Gem Wallet safe?
Gem Wallet is considered safe due to its self-custodial nature, meaning users retain full control over their private keys and assets. It supports secure transactions across multiple blockchain networks without third-party custodians. However, like any wallet, its safety depends on user practices such as safeguarding private keys, avoiding phishing scams, and ensuring the wallet's software is up to date.
Does Gem Wallet provide tax documents?
No, but you can use a crypto tax calculator like Koinly to do it for you, just add your Gem Wallet address(es) and Koinly will import your transaction data and calculate your taxes.
