How To Connect WAX (WAXP) With Koinly

Are you investing in WAX? Whether you're trading, staking or farming - it's incredibly easy to do your crypto taxes with Koinly.

To get started, simply connect Koinly to the WAX blockchain via your public address or CSV file upload. Once connected, Koinly imports all your trades automatically. Next, Koinly calculates all your gains, income and expenses with easy-to-spot totals ready for your tax return. At tax time, simply download the Koinly tax report for your country, and you’re good to file!

How to find your WAX public address

You can find your public address in the wallet you use to interact with WAX - for example, MetaMask, MyEtherWallet or Exodus

We have instructions on how to do this for a variety of popular wallets on our integration pages.

Please note: you’ll need to add your public address from every wallet you use to interact with WAX in order for Koinly to calculate your crypto taxes correctly.

How to connect WAX to Koinly via API

On Koinly

1. Sign up or login into Koinly and head to the wallets page.
2. Select add new wallet in the top right corner.
3. In the search bar, search for WAX.
4. Select WAX.
5. Enter your WAX public address.
6. Select import.

How to connect WAX to Koinly via CSV

Depending on the WAX wallet you’re using, you may be able to export a CSV file of your transaction history from your wallet. We’ve got instructions on how to get a CSV file from a number of crypto wallets on our integration pages.

How do I check my WAX import is accurate?

Koinly is pretty clever, but incorrectly imported data happens and when it does you may have issues with your import. Not to worry - checking through your data import for accuracy is easy, here's how.

Sync all wallets, exchanges and blockchains

You need to connect every single wallet, exchange or blockchain you use with Koinly via API or CSV. Koinly needs your entire transaction history in order to calculate your crypto taxes correctly.

Check your imported data

Sometimes CSV files are missing data, or an API doesn't return a certain kind of data - so it's important you double check it's all in Koinly and error free. We recommend the following:

1. Filter your transactions by deposits and withdrawals and check there aren’t any large transactions which are actually transfers.
2. Use the warning filter to check for any missing costs or missing rates.
3. Check any warnings on the tax reports page, just above your tax summary.
4. If there’s an issue with a specific wallet, Koinly will flag it with a small yellow icon - click the icon to find out what the issue is and how to resolve it.

Review the tags on your transactions

It's always good to double check your transactions and use the tags as they apply to your country’s crypto tax rules (find your crypto tax rules). Koinly normally does this automatically, but sometimes the data is missing to do so. Here's the tags you can use:

Withdrawal tags (sending crypto)

• Gift: tag any gifts of crypto - in many countries, this is tax free.
• Lost: you can claim lost or stolen crypto as a capital loss in many countries. 
• Sent to pool: use this tag when you’ve sent crypto to staking pools - not liquidity pools, these are taxed differently.
• Cost, interest payment and margin fee: Use these tags as appropriate for your expenses. You’ll still realize a profit or loss from the transaction, but they’ll show up in the expense section of your report and may be tax deductible. 

Deposit tags (receiving crypto)

• Airdrop: tag any airdrops, you can treat these as income in your settings.
• Fork: tag any coins from hard forks, you can treat these as income in your settings.
• Mining: you can adjust whether mining is treated as income in your settings.
• Reward: tag staking rewards, referral bonuses and other kinds of rewards.
• Loan interest: loan interest is always treated as income and separated out in your report.
• Income: tag any income you make in crypto so it’s correctly marked in your report.
• Received from pool: use this tag when you remove crypto from staking pools - not liquidity pools, these are taxed differently.

Other tags

• Realized P&L: use for futures, contracts and options trades, this lets Koinly know to treat the entire transaction as profit or loss.
• Swap: use this tag for any tax free trade of crypto - like migrations and rebases.
• Liquidity in/out: you can't apply this tag manually, but Koinly will apply it when you're sending or receiving crypto from a liquidity pool.

It's really helpful to use our Getting Started Guide before reviewing your transactions. This can help you identify and resolve any issues in no time at all.

How do I troubleshoot my WAX integration to Koinly?

Something still doesn't look right with your WAX data import? Let us know - we're always happy to help:

• Head over to our help forum to see if any of our guides have the answers.
• Hit up our discussion boards - someone else might have resolved the same issue already.
• Ask us on social media - we’re on Twitter and Reddit.
• Contact us on email or live chat.