Kinesis Money, also known as Kinesis, is an institutional exchange founded more than 10 years ago that allows investors to trade crypto assets, and in particular, specializes in pegged crypto backed by gold and silver. Whatever your investments, Koinly can help with your crypto taxes. Here's how it works.
You'll need to calculate and report any income or capital gains you made with your tax office. For most people, this happens as part of your annual tax return.
There are a couple of ways you can do this - do it yourself, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.
Or, use a crypto tax calculator like Koinly to easily calculate your taxable income for you, and generate your crypto tax report, ready to file with your tax office.
Koinly works by importing your crypto transaction data to analyze what's taxable, and what's not.
Koinly lets you manage all your crypto transactions - from all the blockchains, wallets, and exchanges you use - from one single platform, making crypto tax simple.
If you prefer, you can integrate Koinly with Kinesis Money by uploading a CSV file of your transaction history instead. Here's how to get your Kinesis Money transaction history CSV file.
1. When downloading your CSV files, check that the file covers your full trading history.
2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your Koinly tax reports.
If you need help connecting Kinesis Money and Koinly, check out these great resources:
Sign up free today and calculate your Kinesis Money taxes
No. Kinesis Money does not provide tax documents. Instead, you'll need to export your Kinesis transaction history and calculate your taxable gains and losses yourself, or use a crypto tax calculator like Koinly to do it for you.
The easiest way to get a crypto tax report from Kinesis Money is to use Koinly. Just export your Kinesis Money transaction history and upload your CSV file to Koinly. Koinly can then calculate your gains, losses, and income, and generate your crypto tax report to help you file.
No. Kinesis Money does not provide financial or end of year statements, but you can export CSV files of your transaction history, holdings, account balance and more.
Kinesis Money states the platform was founded by institutional exchange and public company, Allocated Bullion Exchange (ABX) and that the company follows best security practices for crypto. As always, you should DYOR and follow best storage practices for your crypto to keep it secure.