How to do your Stable taxes with Koinly
Stable, or Stablechain, is a USDT-native Layer 1 blockchain built for stablecoin payments.
With your Stable transaction history, Koinly can calculate your Stable crypto taxes. Here's how to import it.
Follow these steps to sync your Stable (USDT0) data automatically to Koinly:
Sync your stable wallet using your public key ("receive" address) starting with 0x***
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Stable (USDT0) 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!
π GUSDT to USDT0 migration
For older wallets: swap from GUSDT to USDT0 needs to be added manually
- 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 Stable?
Stable, also known as Stablechain, is a Layer 1 blockchain purpose-built for stablecoin transactions. Their aim is to meet demand and solve user friction points by providing a low-cost and scalable blockchain for stablecoins. This includes gas fees, which are paid in USDT, making them more predictable than other cryptocurrencies.
Its other features include EVM compatibility, a cross-chain bridge for moving USDT0 across from other chains, and the STABLE token for staking and governance.
Is Stable safe?
Stable is considered relatively safe, in part because it has a delegated Proof-of-Stake consensus mechanism, where delegates are voted for by token holders based on their performance and reputation. This structure also allows delegates to be voted out should they become inactive or dishonest. Stable is also EVM-compatible, leveraging familiar and battle-tested tooling for developers, and has built-in regulation tools. Nevertheless, Stable is new, so as with any platform, it's best to DOYR and implement best security practices when making an investment.
Does Stable provide tax documents?
Stable does not provide tax documents. To calculate your Stable taxes and generate specialized tax reports, import your read-only Stable transaction history to a crypto tax calculator, like Koinly.
