Exodus crypto wallet offers investors a secure hot wallet, ideal for trading assets you're looking to invest short term. The wallet integrates with the exchange platform Shapeshift, which makes trading crypto for crypto fast and simple. Koinly can help you do your Exodus taxes safely, quickly, and accurately.
It’s unlikely Exodus reports to the IRS. Exodus doesn’t require users to complete KYC verification - so you might assume there’s no way the IRS can track your crypto assets and transactions in Exodus. Exodus also doesn’t require you to link a bank card to make deposits and withdrawals.
You'll need to connect each coin and corresponding blockchain separately. There are a few different steps you can follow to do this depending on the coin you're using. Follow the steps below:
Some other blockchains like BTC, BCH and DOGE may need an xpub key instead. We’ll use Bitcoin as an example for our instructions on how to find your xpub key in Exodus.
If you can't find your coin in the list of blockchains - it means Koinly doesn't support that coin just yet. Please let us know if this is the case as we're always adding support for new coins for our users. You should be able to find the public key you need on Exodus by following either of the steps above for other coins.
You'll need to start by downloading a CSV file with your full trading history from Exodus before you can upload it to Koinly - here's how.
If something looks strange with your Exodus data import - don't worry, there's lots of help available:
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No - like most crypto wallets, Exodus doesn’t supply a tax report for users. You’ll need to use either a crypto tax app to generate your Exodus tax report, or export your Exodus transaction history and calculate your crypto taxes yourself.
The easiest way to get your Exodus tax documents is to connect to crypto tax software. You can easily connect via API or by uploading a CSV file of your Exodus transaction history. Your crypto tax calculator will then generate your Exodus tax documents.
No, Exodus doesn't supply a financial statement. But you can use your Exodus transaction history to create a financial statement to use when filing your crypto taxes. Once you've got your Exodus transaction history - you can calculate your crypto taxes manually or get a crypto tax app to do it for you.
Yes - if you have capital gains or income as a result of your crypto investment activities on Exodus, you'll need to report these to your tax office and pay taxes on them. Don’t be tempted to avoid crypto taxes. The penalties for tax evasion are steep and you may face fines or even jail time.
Yes. Exodus is a secure, non-custodial wallet. However, it is a hot wallet so you should always follow best security practices and store any long-term holdings in a cold wallet.