How to file your WOO X taxes with Koinly
WOO X is a popular crypto trading platform offering fee-less spot and futures trading, as well as staking and trade-to-earn rebates. Koinly can help you do your WOO X taxes safely, quickly, and accurately.
How to connect WOO X to Koinly
In order to import all transactions from WOO X, you'll need to use both API and CSV in order to get your complete transaction history. This is because neither method gives you your complete transaction history alone, but when combined, they do. Start by connecting via API:
How to connect WOO X to Koinly via API
On WOO X
Log in to WOO X
Hover over your username to reveal the drop down menu
Select subaccounts and API from the drop down menu
Select create API
For permissions, check read
Complete 2FA verification
Select create API
Copy your API key and API secret
On Koinly
Sign up or log in to your Koinly account and go to wallets
Select add new wallet: WOO X
Select set up auto-sync
Paste the API key and API secret into Koinly
Select secure import
The WOO X API only returns more recent trades, so you'll need to import some of your trade history (and other transaction data) via CSV file. To figure out what data to import, you'll need to find the oldest trade the API has returned in Koinly once you've connected.
You can follow the instructions below to do this:
Once you've connected WOO X to Koinly via API as per the instructions above, you'll then need to go to the transactions page in Koinly to filter your transactions (or you can click this link to filter as instructions below - you'll just need to filter to your WOO X wallet only).
Change the 'Wallet' filter to "WOO X".
Filter your transactions to "Trades" using the "Type" filter.
Change the "Sort By" filter to "Oldest First" in order to see the oldest WOO X trade that has been synced in Koinly via API.
Identify the exact date of the oldest WOO X trade in Koinly. You'll need this when exporting your CSV.
Now know how much data has been imported to Koinly via API, you need to get your WOO X Order History CSV file and upload that to Koinly. Here's how.
How to export your WOO X CSV file
On WOO X
Log in to WOO X
Select account
Select orders
Select download history
Select custom for the date range
Your start date should be set to cover your entire account history, for however long you've had your WOO X account
Your end date should be set to match the date of your oldest API imported trade in Koinly that you identified earlier
Select generate
When your report is ready, underneath status, select download
On Koinly
Sign up or log in to your Koinly account and go to the wallets page.
Find your WOO X wallet
Select the three dot icon next to your WOO X wallet (on the right)
Select import file
Upload your CSV file
Select import
Once you've connect via API and imported your order history file has been imported into the same wallet on Koinly, you should have your full WOO X transaction history in Koinly and Koinly will be able to calculate your WOO X taxes.
You'll need to have 2FA enabled and have verified your identity before you can create an API in WOO X.
The WOO X API has some limitations in place, so some of your data may not be imported, including transaction data from subaccounts.
Trade data older than 30 days may not be provided by this API.
How are WOO X transactions taxed?
Crypto tax varies depending on your tax office and its view on crypto, so your WOO X taxes depend on where you live. You can find out more in our crypto tax guides, but in brief, you'll generally pay one of two taxes on your WOO X transactions:
Capital Gains Tax: Whenever you trade on WOO X and make a profit, you'll generally pay Capital Gains Tax on that gain.
Income Tax: Whenever you earn new tokens on WOO X - for example, staking rewards - you'll generally pay Income Tax upon receipt based on the fair market value of those rewards at the time you receive them.
Does WOO X report to tax offices?
Many crypto exchanges are facing pressure from tax offices around the world including the ATO, HMRC, the CRA, and more. WOO Network offers a variety of CeFi and DeFi services and requires KYC verification to use the former. Although it's unlikely WOO Network is currently sharing data with any tax offices, they may face pressure from tax agencies in the future to share KYC data to ensure tax compliance.
How do I file my WOO X taxes?
You can connect Koinly & WOO X and Koinly will identify your taxable transactions, calculate your gains and losses, as well as any income, and generate your WOO X tax documents ready to file with your tax office.
Your frequently asked questions
Does WOO X provide tax documents?
No. WOO X does not provide tax documents. That's why WOO X paired with Koinly to help simplify your crypto taxes.
How do I get WOO X tax documents?
The easiest way to get your WOO X tax documents is to connect to Koinly, either via API automatically or by uploading CSV files of your WOO X transaction history.
Does WOO X provide financial or end of year statements?
No. WOO X does not provide financial or end of year statements for users. The easiest way to get WOO X tax documents is to use crypto tax software like Koinly.
Do I have to pay taxes on WOO X?
Yes, tax offices around the world are clear that crypto is subject to tax, though the rules vary depending on where you live. Find out more in our crypto tax guides.
