Icon ICX logo

How to Connect Icon (ICX) with Koinly

Icon (ICX) pairs perfectly with Koinly to make crypto tax easy! 🤝 Connect Icon to Koinly to quickly calculate your taxes. ⚡ Just follow a few simple steps! 🖱️

API Import CSV File Import
Last updated: Monday, 8 August 2022

Are you investing in Icon (ICX)? 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 Icon 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 Icon public address

You can find your public address in the wallet you use to interact with the Icon blockchain - for example, Hana, MyEtherWallet or Trust Wallet.

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 ICX in order for Koinly to calculate your crypto taxes correctly.

How to connect Icon 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 Icon.
  4. Select Icon (ICX).
  5. Enter your Icon public address.
  6. Select import.

How to connect Icon to Koinly via CSV

Depending on the ICX 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 Icon import is accurate?

Checking your transactions and correcting any inaccuracies lets Koinly calculate and generate the most accurate tax reports for you. There are a few simple steps you can follow to check everything is in order:

Sync all wallets, exchanges and blockchains

Make sure you’ve connected every single wallet, exchange and blockchain you use with Koinly. It needs your entire crypto transaction history in order to calculate your cost basis, capital gains and losses and income accurately.

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.

Check your imported data

It’s important you check everything has been imported to Koinly correctly. No need to go through each transaction in Koinly though - just check 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.

Review the tags on your transactions

Finally, review the tags on your transactions. Koinly will normally do this automatically, but double check your transactions and use the tags as they apply to your country’s crypto tax rules (find your crypto tax rules). Here’s the tags you can use and when to use them.

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.

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. 

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 Icon integration to Koinly?

Still not quite right? No worries - we can 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.