How to file your SafePal Wallet taxes with Koinly
SafePal Wallet is a popular software wallet that also offers hardware wallets with extremely high levels of security for long-term hodlers. SafePal supports a wide range of popular cryptocurrencies and NFTs. Whatever your investments, Koinly can help with your SafePal crypto taxes - just connect via your public address using API or upload a CSV file. Here's how.
Follow these steps to sync your SafePal Wallet data automatically to Koinly:
- Open your SafePal 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 SafePal 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
Your frequently asked questions
Does SafePal Wallet have tax documents?
No, SafePal Wallet does not provide tax reports. It's incredibly difficult for any crypto wallet to provide an accurate tax report due to the multiple wallets investors are normally using - so tracking cost basis and identifying transfers from disposals is almost impossible for any one wallet or exchange. This is why most investors opt to use a crypto tax tool to track their entire crypto portfolio and tax liability from one spot.
How do I get SafePal Wallet tax documents?
The easiest way to get your SafePal Wallet tax documents is to connect to Koinly automatically using your public address. Once connected, Koinly calculates your tax liability and generates your SafePal Wallet tax documents.
Does SafePal Wallet provide financial or end of year statements?
No, SafePal doesn't issue users a financial statement or EOFY statement, nor can you export your transaction history as a CSV directly from the app.
Do I have to pay taxes on SafePal Wallet?
Yes. You need to pay taxes on your SafePal Wallet transactions. If you have capital gains or income, you’ll need to report these figures to your tax office - usually as part of your annual tax return.
Is SafePal Wallet safe?
Yes. SafePal Wallet is regarded as a secure, non-custodial, offline wallet. Cold wallets like SafePal Wallet are generally regarded as the best way to store your crypto in terms of security.
